Shire Purchases Foresight for $300 Million
Shire has purchased Foresight Biotherapeutics for $300 million in cash, boosting its ophthalmics portfolio with the global rights to a therapy in late-stage development to treat pink eye.
If approved, FST-100 (povidone iodine and dexamethasone) would be the first drug to treat both bacterial and viral eye infections, Foresight says.
Once the deal closes, Shire will be responsible for implementing a Phase 3 clinical development program to determine if FST-100 is effective in treating adenoviral conjunctivitis and bacterial conjunctivitis.
Shire hopes to launch the eye drop in the 4th quarter of 2019. The product is a strategic fit with Shire’s lifitegrast, which is in late-stage development to treat dry eye disease. — Jonathon Shacat