Shire acquires drug it says will widen ADHD portfolio
23 February 2009 00:00 in Pharmaceutical Company Product News
Shire has acquired the rights to a drug that will broaden its portfolio of treatments for Attention Deficit Hyperactivity Disorder (ADHD), it has been reported.
The biopharmaceutical company has signed an agreement with UCB to take ownership of EquasyM IR and XL (methylphenidate hydrochloride), which are approved and marketed in four and ten countries respectively.
As past of the transaction, the firm will also receive 20 sales personnel from UCB.
Michael Cola, president of Shire's specialty pharmaceuticals business, commented: "Our expertise and portfolio of ADHD products will provide a strong foundation from which we can offer innovative treatments for adults and children with ADHD."
On completion of the deal, the firm will make a cash payment of 55 million euros. The agreement is expected to be earnings neutral for 2009 and accretive - on a non-GAAP basis - from 2010.
If particular net sales targets are met this year and the following, small milestone handouts may become payable.
Founded in 1986, the company focuses on attention deficit hyperactivity disorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI) diseases.
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