25th Aug 2015 11:10
LONDON (Alliance News) - Shire PLC said Tuesday that it has agreed a deal with Sanquin Blood Supply, which manufactures its hereditary angioedema treatment Cinryze, to access Sanquin's manufacturing technology and allow it to source additional manufacturers to meet growing demand for the product.
"We wanted the freedom to operate and expand in a way that makes strategic sense for our business," said Shire Chief Executive Officer Flemming Ornskov in a statement.
"When Shire acquired ViroPharma in January 2014, we inherited an arrangement under which Sanquin was the exclusive manufacturer for CINRYZE. We?re pleased that Sanquin was open to expanding our partnership and agreeing to support us as we increase production options for this important therapy," Ornskov added.
Specific terms of the agreement were not disclosed, but the company said it involves milestone payments to Sanquin, including a successful technical transfer to a second source manufacturer.
Shares in Shire were up 1.8% at 4,790.00 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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