Shire pharmaceuticals of Ireland is poised to take over Baxalta of US via a deal worth $32billion.

Shire had previously made an offer that was rejected by Baxalta in August last year. The new deal however is $2 billion more than the previous one and is a cash and stock combination, unlike the stock only offer made last year.

This will be the biggest acquisition by Shire and will place the company in the world’s top twenty drug makers. The pharmaceutical industry saw a lot of movement and set new records last year and it seems the momentum is still going.