13th Jun 2016 11:14
LONDON (Alliance News) - FTSE 100 listed drugsmaker Shire PLC Monday said that the US Food & Drug Administration has granted a breakthrough therapy designation for two of its investigation products for rare gastrointestinal conditions, SHP621 and SHP625.
This designation means the drugs are eligible for priority review.
SHP621 is in development for eosinophilic esophagitis, and SHP625 is in development for progressive familial intrahepatic cholestasis type 2.
"Receiving breakthrough therapy designation on two pipeline products this past week reflects the potential of our strong and innovative pipeline of more than 60 programs," said Chief Executive Officer Flemming Ornskov.
"Shire is committed to bringing innovation to the rare and specialty areas we focus on. We persevere to see compounds through the many stages of development through their challenges and successes, and always keep patients with unmet needs top of mind," Ornskov added.
Shares in Shire were down 0.6% at 4,129.00 pence Monday, shortly after midday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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