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Shire's Quarterly Revenues Grow by 25% to $1 Billion for the First Time
Date:7/28/2011

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OTHER SECOND QUARTER DEVELOPMENTS


Acquisition of ABH  

  • On June 28, 2011 Shire announced that it had completed the acquisition of ABH for a cash purchase price of $739 million. A strong strategic fit for Shire, the ABH business becomes part of Shire's Specialty Pharmaceuticals ("SP") business. This acquisition combines ABH's experience and commercial capability in regenerative medicine with Shire's strengths and expertise in human cell biological manufacturing. It also creates a new strategic platform based on tissue regeneration using cell-based therapies and adds DERMAGRAFT, a leading US marketed product for DFU, to Shire's portfolio. There are also further growth prospects for DERMAGRAFT through a potential expanded indication for VLU.

Legal Proceedings

VYVANSE - for the treatment of ADHD

  • In May and June 2011, Shire was notified that six separate Abbreviated New Drug Applications ("ANDAs") were submitted under the Hatch-Waxman Act seeking permission to market generic versions of all approved strengths of VYVANSE. The notices were from Sandoz, Inc.; Amneal Pharmaceuticals LLC; Watson Laboratories, Inc.; Roxane Laboratories, Inc.; Mylan Pharmaceuticals, Inc.; and Actavis Elizabeth LLC and Actavis Inc. Within the requisite 45 day period, Shire filed lawsuits for infringement of certain of Shire's VYVANSE patents against all the ANDA filers. The filing of the lawsuits triggered a stay of approval of all six ANDAs for up to 30 months.

BOARD CHANGES

On July 27, 2011, Shire announced that Susan Kilsby will join the Shire Board of Directors from September 1, 2011.  On joining the Board Susan will become a member of the Company's Audit, Compliance and Risk Committee. Susan has a distinguished global career in investment banking, most recently with Credit Suisse, where she was Chairman of the EMEA Me
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SOURCE Shire plc
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