GlaxoSmithKline shares have slipped back on renewed market gossip it could be interested in US group BioMarin.
Both Glaxo and Shire have been linked with BioMarin, which specialises in rare diseases, in recent weeks, with both playing down the suggestions.
But traders were suggesting Glaxo was indeed looking at a bid for the US business, despite already having a £1.7bn hostile offer for another American group, Human Genome Sciences, on the table.
Glaxo could face competition, with Sanofi and US group Biogen also said to be looking at BioMarin, so an auction for the business could be on the cards. The talk was of a bid of around $60 a share, which would value BioMarin at around $7bn.
Glaxo has fallen 24p to £14.46, not helped by analysts at Liberum advising clients to switch from Glaxo to AstraZeneca, up 29.5p at 2828.5p. Shire meanwhile closed 23p lower at £17.89.
