Shire Divests Non-Core Products to Almirall

Shire has agreed to sell a portfolio of non-core products to Almirall for $213 million in cash in order to pursue its new market strategy. The portfolio includes the dermatology products, Solaraze for the treatment of common skin lesions caused by sun damage, Vaniqa, a topical prescription medicine for treating unwanted facial hair, and six other non-promoted products across a range of indications, which are Shire sells in the UK, France, Germany, Italy, Spain and Ireland.

Shire’s new market strategy is focused on building its attention deficit hyperactivity disorder (ADHD), human genetic therapies, gastrointestinal and renal diseases businesses. The company also recently in-licensed Juvista from Renovo and intends to build a new specialty area of regenerative medicine. Shire aims to expand its ADHD expertise to markets outside the U.S. within the next two years, with an initial focus on the EU.

Matthew Emmens, Shire’s chief executive, said, “Our strategic focus is clear and our emphasis in the international markets is on developing competitive positions for our global products that meet the needs of the specialist physicians and their patients, in our chosen areas of expertise. Almirall is well positioned to ensure future development and investment in the products we are divesting, which are no longer core to our strategy.”

Almirall chairman and chief executive officer Dr. Jorge Gallardo said, “We are very satisfied with this acquisition since it expands our international presence in a critical market like the UK and reinforces our position as one of the key European specialty pharmaceutical companies.”

Other products divested included: Lodine for treatment of rheumatoid arthritis and osteoarthritis, Colazide for mild to active ulcerative colitis, Meptid for treatment of pain, Cebutid for the symptoms of rheumatoid arthritis and osteoarthritis, Robaxin for relief of pain from muscle injuries, spasms, sprains and strains, and Mintec for the relief of discomfort associated with irritable bowel syndrome.