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Fly News Breaks for May 4, 2016
BXLT, SHPG
May 4, 2016 | 07:51 EDT
Cowen said Shire (SHPG) has many favorable strategic options as its deal with Baxalta (BXLT) gets closer to closing. The firm sees many options with its acquisition, including making no changes at all to the assets as they are. Cowen also said it is possible to divest its Neurology franchise and deploy that capital to longer duration orphan assets. Cowen reiterated its Outperform rating and $325 price target on Shire shares.
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