The business of the Ireland-based pharma company Shire is expanding through several deals, the most important of which is the merger with Baxalta announced last January and evaluated approximately $32 billion. The operation should allow Shire to realize a leading biotechnology company focused on rare diseases.
According to the companies, the new born should gain a leading position in the area of hematology, immunology, neuroscience, lysosomal storage diseases, gastrointestinal/endocrine and ereditary angioedema (HAE), with more than 60 programs in development, including over 50 that will address rare diseases, and the newly- approved Baxalta products Antihemophilic factor (Recombinant) PEGylated, von Willebrand factor (Recombinant) and Antihemophilic factor (Recombinant) Porcine sequence. The combined company will also possess a growing franchise in oncology, with approved products and innovative compounds in development, as well as a robust late-stage ophthalmics pipeline.
Shire announced also the completion of the acquisition of Dyax Corp.; the all-cash transaction has been valued at approximately $5.9 billion. Dyax shareholders may receive additional value through a non-tradable contingent value right (CVR) that will pay $4.00 in cash per Dyax share upon approval of DX-2930 for HAE, representing a potential additional $646 million in aggregate contingent consideration.
Ā«The addition of ecallantide and DX-2930 to our portfolio strengthens our leadership position in HAE and, along with the commercial and research and development expertise at Dyax, is a clear strategic fit for us that advances our position as the global leader in rare diseases. We are confident that our patients, particularly those with HAE, will be served for many years to comeĀ», commented Shire’s chief executive officer, Flemming Ornskov.