Shire sells eight 'non-core' products for $213 million
Shire said today that it is selling eight “non-core” products to Spanish company Almirall for $213 million.
“The divested products are no longer core to Shire's strategy of building market leading positions in specialty markets,” the company said in a statement.
Shire said its focus is moving forward will be on building its attention deficit hyperactivity disorder, human genetic therapies, gastrointestinal and renal diseases businesses and, with its recent in-licensing of Juvista (human recombinant), to build a new specialty area of regenerative medicine.
There are eight products being sold in the transaction. They include:
* Lodine (etodolac) for treatment of rheumatoid arthritis.
* Colazide (balsalazide) for treatment of mild to active ulcerative colitis.
* Meptid (meptazinol hydrochloride) for treatment of pain.
*Cebutid (flurbiprofen) for treatment of the symptoms of rheumatoid arthritis and osteoarthritis.
*Robaxin (methocarbamol) for relief of pain from muscle injuries, spasms, sprains and strains.
*Mintec (peppermint oil) for the relief of discomfort associated with irritable bowel syndrome.
*Solaraze (diclofenac sodium) is a topical preparation for the treatment of actinic keratoses.
*Vaniqa (eflornithine) is a topical prescription medicine for treating unwanted facial hair in women.
Almirall chairman and CEO Jorge Gallardo said in a statement the acquisition would expand his company's international presence and “reinforces our position as one of the key European specialty pharmaceutical companies.”