Shire Plc agreed to buy Baxalta Inc. for about $32 billion to become the world’s biggest maker of so- called orphan drugs for rare diseases.

The price includes 0.1482 of Shire’s American depositary receipts and $18 in cash for each Baxalta share held, the Dublin-based drugmaker said in a statement. Baxalta had rebuffed an unsolicited $30 billion all-stock bid that valued the company at $45.23 a share in July.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.