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United Therapeutics opens 10% higher as GlaxoSmithKline is named as a potential bidder for the group

Sources are cited as saying the bidding could go as high as US$200 a share, valuing the business at US$8.7bn

GSK office building
GSK, which is reportedly being advised by Lazard and Citi, is one of a number of drugs giants circling United

Shares United Therapeutics Corp (NASDAQ:UTHR) opened 10% higher as bid speculation began to swirl.

According to the London Evening Standard, GlaxoSmithKline (LON:GSK) is a touted buyer of the business, which is valued at U$5.9bn.

The paper says GSK, which is reportedly being advised by Lazard and Citi, is one of a number of drugs giants circling United.

The other names in the frame are Switzerland’s Novartis AG (ETX:NVT) and US biotech Gilead Sciences Inc (NASDAQ:GILD).

Reporter Jamie Nimmo cites sources as saying the bidding could go as high as US$200 a share, valuing United at US$8.7bn.

Chaired by Martine Rothblatt, the transgender co-founder of satellite radio business Sirius XM, the company has five products on the market, four of which treat pulmonary arterial hypertension (PAH).

Rothblatt set up the business up 21 years ago to develop a treatment for her daughter, a PAH suffer.

The stock, after a strong opening, eased back a touch. At 9.45am, they were up US$10.82 at US$137.43 for a rise of 8%.

Quick facts: United Therapeutics Corporation

Price: 170.54 USD

NASDAQ:UTHR
Market: NASDAQ
Market Cap: $7.58 billion
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