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Shire To Set Out AstraZeneca PLC (AZN)-Style Defense Against AbbVie (ABBV)'s $46 Billion Bid



6/23/2014 6:24:28 AM

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(Reuters) - Shire is to take a leaf out of AstraZeneca's playbook by giving long-range forecasts for its drugs as it seeks to convince shareholders that AbbVie's $46 billion offer undervalues the business.

Flemming Ornskov, Shire’s chief executive, will update investors on prospects for key medicines on Monday afternoon, mirroring the approach of disclosing long-range internal forecasts used by fellow London-listed drugmaker AstraZeneca in its successful defence against Pfizer.

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