Please login to the form below

Not currently logged in
Email:
Password:

Shire divests non-core products for USD 213m

Shire agrees to sell a portfolio of non-core products to Spanish-headquartered Almirall Prodesfarma for USD 213m in cash

UK-based pharmaceutical company Shire Pharmaceuticals has agreed to sell a portfolio of non-core products to Spanish-headquartered Almirall Prodesfarma for USD 213m in cash.

The transaction is subject to competition clearances and other customary consents. Shire was advised by Rothschild.

Almirall will gain sunlight skin lesion treatment Solaraze, as well as Vaniqa, a cream used on female facial hair. Six non-promoted products, which are sold in the UK, France, Germany, Italy, Spain and Ireland, are also bundled in with the deal.

The six other products include Lodine (etodolac) for treatment of rheumatoid arthritis and osteoarthritis, Colazide (balsalazide) for treatment of mild to active ulcerative colitis, Meptid (meptazinol) for treatment of pain, and Cebutid (flurbiprofen) for treatment of the symptoms of rheumatoid arthritis and osteoarthritis.

Shire said the core focus of the firm was to build its attention deficit hyperactivity disorder (ADHD), human genetic therapies, gastrointestinal and renal diseases businesses.

Shire will expand its ADHD expertise to markets outside the US within the next two years, with an initial focus on the EU.

The company concluded that with its recent in-licensing of Juvista, an experimental treatment for scarring, from UK-based Renovo, it will build a new specialty area of regenerative medicine.

Shire's CEO, Matthew Emmens, said: "Our strategic focus is clear and our emphasis in the international markets is on developing competitive positions for our global products that meet the needs of the specialist physicians and their patients, in our chosen areas of expertise."

Almirall's CEO, Dr Jorge Gallardo, added: "We are very satisfied with this acquisition since it expands our international presence in a critical market like the UK and reinforces our position as one of the key European specialty pharmaceutical companies".

30th September 2008

Share

PMEA Awards 2020

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Research Partnership

We are the largest independent healthcare market research and consulting agencies in the world. Trusted partner to the global pharmaceutical...

Latest intelligence

#DemandDiversity: For International Women's Day, we ask... why do women often suffer from more side effects than men?
Women are largely prescribed exactly the same treatment regimens as men, with no account for the underlying differences in physiology and drug metabolism between the sexes....
Good design saves lives
Good design and creative thinking are essential if we are to improve on existing problems in new ways, which is why design and creativity within healthcare is vital. Health is...
Why you must understand the pricing of patient recruitment companies
Recruiting a diverse range of patients and engaging with them for your clinical trial isn’t an easy task, which means you might turn to patient recruitment companies, like us, who...

Infographics