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Article: Radford company brings top dollar: The English company planning to buy New River Pharmaceuticals specializes in ADHD.
- Article from:
- The Roanoke Times (Roanoke, VA)
- Article date:
- February 21, 2007
CopyrightCOPYRIGHT 2007 The Roanoke Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Andrew Kantor
Feb. 21--New River Pharmaceuticals Inc., a small Radford drug company that has yet to release a product, is set to be acquired for $2.6 billion by Shire plc, an English company with which it has been working since January 2005.
Based on share value, more than $1.46 billion of that cash payment would go to Randal J. Kirk, New River's founder, chairman, chief executive officer, largest shareholder, and a resident of the Belspring section of Pulaski County.
That would bring Kirk's net worth to approximately $2 billion.
Shire's interest in New River centers on the latter's Vyvanse, a stimulant developed to treat ...