Reinforcing Strategic Focus on Growth-Driving Global Products
BASINGSTOKE, England, October 8 /PRNewswire-FirstCall/ -- Shire plc (LSE: SHP, NASDAQ: SHPGY, TSX: SHQ), the global specialty biopharmaceutical company, announces that it has agreed to sell a portfolio of non core products to Almirall for a cash consideration of $213m. The portfolio includes the dermatology products, SOLARAZE(R) (3% gel diclofenac sodium) and VANIQA(R) (eflornithine hydrochloride), and six other non-promoted products1 across a range of indications, which are principally sold by Shire in the UK, France, Germany, Italy, Spain and Ireland.
The divested products are no longer core to Shire's strategy of building market leading positions in specialty markets through the development and commercialization of competitive global products with strong intellectual property protection. Shire's focus is on building its attention deficit hyperactivity disorder (ADHD), human genetic therapies, gastrointestinal and renal diseases businesses and, with its recent in-licensing of JUVISTA(R) (human recombinant TGFÎ²3) from Renovo plc, Shire intends to build a new specialty area of regenerative medicine. Shire's specialty products are increasingly global in their reach - for example Shire aims to expand its ADHD expertise to markets outside the U.S. within the next two years, with an initial focus on the EU. This product divestment will enable Shire to pursue this strategy in a more concentrated way.
Shire plc Chief Executive, Matthew Emmens comments:
"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 is well positioned to ensure future development and investment in the products we are divesting, which are no longer core to our strategy."
Almirall Chairman and CEO, Dr Jorg
|SOURCE Shire plc|
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