logo
Plus   Neg
Share
Email

Shire To Buy FerroKin BioSciences For $100 Mln Plus Milestone Payments

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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
CLICK HERE to see America's 10 Best-Selling Drugs Despite high drug costs, most of the top-selling drugs saw sales gains in 2017 compared to the prior year. A large number of the best-selling drugs are primarily for the treatment and management of cancer, diabetes, inflammatory disorders, and HIV... Most Americans have access to health care, though costs and services vary from state to state. However, higher costs do not necessarily translate into better results. The U.S. continues to be outperformed by other wealthy nations on several measures like life expectancy, disease burden and health... The Coca-Cola Company (KO) reported that its first-quarter comparable earnings per share from continuing operations grew 8% year-over-year to $0.47. On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.46 for the quarter. Analysts' estimates typically exclude special items. Net income from continuing operations increased 12% to $1.33 billion. Earnings per share from continuing operations rose 13% to $0.31.
Follow RTT