Shire acquires Baxalta for $32 billion

Shire this week completed a buyout of Chicago-based Baxalta and its portfolio of hemophilia drugs, creating the largest global biotech company focused solely on rare diseases.

Combined, the companies have more than 50 projects on rare diseases, with a balanced mix of early, mid and late-stage projects. The proposed deal represents a strategic fit that is estimated to bring in $20 billion in product sales by 2020, according to the press release.