Shire plc (SHP.L, SHPGY) Thursday reported agreeing to acquire privately-held FerroKin Biosciences Inc. for a cash consideration of $100 million and milestone payments of up to $225 million. The purchase is expected to add the iron chelator FBS0701, which is seen as a possible treatment for transfusional iron overload to Shire's hematology portfolio.
While phase 2 trials of FBS0701 are currently underway, Shire sees additional trials as well as a global filing for indications of Myelodysplastic Syndrome and hemoglobinopathies, with a launch target of 2016. Further, such key FerroKin employees as Founder and CEO Hugh Rienhoff may provide consulting services during a transition period.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.