Shire rebrand sharpens focus on regenerative medicine
FurtherIng its push into regenerative medicine, Shire announced that it was rebranding its Advanced BioHealing unit Shire Regenerative Medicine. Shire acquired the company a year ago for $750 million.
Advanced BioHealing's sole on-market product at the time was Dermagraft, a skin substitute used to heal diabetic foot ulcers. The division has since acquired assets from Pervasis for Vascugel, an experimental blood vessel therapy.
Shire spokesperson Lindsey Hart told MM&M that Advanced BioHealing's rebrand aligned the unit with the core company, and fit in with Shire's long-term plans for regenerative medicine. “It's a strong indication that the market is growing,” she said.
Regenerative medicine is the third leg of Shire's $4 billion portfolio, which largely rests on specialty pharmaceuticals (including ADHD medications Vyvanse, Intuniv and Adderall; ulcerative colitis medications Pentasa and Lialda and renal disease medication Fosrenal) and human genetic therapies (which includes Fabry disease treatment Replagal and Hunter syndrome treatment Elaprase).
Hart said Shire couldn't say how many regenerative medicine acquisitions it's considering over the next few years, but noted that late-stage technologies grab attention in this limited field.“This is really just setting the stage for developing this business as a significant business for Shire,” she said.