Shire has announced the sale of the attention deficit hyperactivity disorder (ADHD) therapy Daytrana to Noven Pharmaceuticals, the drug's original developer.
The treatment, which is specified for use among children and adolescents, has been sold by Shire since being licensed from manufacturer Noven in 2003.
Following the commencement of the new arrangement, which is due to take effect on October 1st 2010, global marketing rights for the drug will be returned to Noven.
Shire estimates the value of the divested assets at around $95 million (60.2 million pounds), but stated that the move will not affect its recently-announced earnings outlook for the 2010 full-year period.
Earlier this week, Shire published data from a new phase IIIb clinical trial of another ADHD therapy Vyvanse, in order to demonstrate its efficacy among adult patients.
It is hoped that the treatment can now be used to help older sufferers of the condition who wish to manage their symptoms during the working day.See all the latest jobs in Pharmaceutical