2nd Nov 2015 11:06
LONDON (Alliance News) - Irish pharmaceuticals group Shire PLC on Monday said it has struck a USD5.9 billion deal to acquire Dyax Corp, a US-based biotechnology company focused on developing treatments for hereditary angiodema.
FTSE 100-listed Shire will pay USD5.9 billion in cash upfront to buy Dyax, with a further USD646.0 million payable upon the approval of its DX-2930 drug.
DX-2930 is a phase 3-ready asset which uses plasma kallikrein inhibitors to treat hereditary angiodema, a rare genetic disease.
"This highly complementary transaction aligns with and accelerates our strategy to build a global leading biotechnology company focused on rare diseases and specialty conditions. It adds to our portfolio of best-in-class therapies addressing unmet needs in our core therapeutic areas, expanding and extending our leadership position in HAE," said Chief Executive Flemming Ornskov.
Shares in Shire were down 0.1% to 4,921.00 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Shire