Shire Acquires Another Rare Disease Drugmaker
Shire will pay $5.2 billion to acquire rare disease manufacturer NPS Pharma, the latest acquisition aimed at boosting the Irish drugmaker’s rare disease portfolio.
The deal will give Shire access to two drugs that treat rare gastrointestinal and endocrine diseases.
NPS sells Gattex (teduglutide [rDNA origin]) in the U.S. and Europe to treat adults with short bowel syndrome who require parenteral support. Meanwhile, Natpara (rhPTH -83), a hormone replacement therapy to treat the rare endocrine disorder HPT, has a PDUFA date of January 24, Shire spokeswoman Sarah Elton-Farr said. European approval of Natpara is expected in 2016.
Shire has taken steps recently to shore up its disease portfolio by acquiring smaller biopharmaceutical companies. Recent purchases include Fibrotech for $75 million and Lumena Pharmaceuticals for at least $265 million.
The NPS move comes several months after a proposed merger between Shire and AbbVie fell apart over U.S. Treasury rules aimed at clamping down on tax inversions. Shire will use a $1.6 billion breakup fee it received from AbbVie to help fund the NPS deal, Farr said.
Shire expects to close the deal during the first quarter of 2015. — Robert King