Shire acquires SARcode Bioscience for $160m

Hannah Blake

pharmaphorum

Shire is to acquire Californian-based biopharmaceutical company, SARcode Bioscience Inc, with an upfront payment of US $160 million.

Shire is hoping to use this acquisition to build on its presence within the ophthalmology therapeutic category, as the deal adds a new phase 3 compound called Lifitegrast, which is currently under development for the signs and symptoms of dry eye disease, into Shire’s portfolio.

Shire’s aim is to launch Lifitegrast into the United States as early as 2016, depending on a positive outcome of the phase 3 clinical trials and regulatory approvals. Shire is acquiring the global rights to Lifitegrast and will evaluate an appropriate regulatory filing strategy for markets outside of the United States.

“The acquisition of SARcode is a demonstration of Shire’s focus on continuing to build our research and development pipeline with innovative, well-differentiated assets that address significant unmet patient need. This acquisition and our recent acquisition of Premacure have the potential to provide the basis for an attractive ophthalmology business for our company, given the significant growth opportunities in this therapeutic area as well as Shire’s proven expertise in specialist markets.”

Flemming Ornskov, M.D., Shire’s CEO Designate.

In 2012, the global ophthalmic pharmaceutical market was valued at approximately $13 billion. Approximately 25 million people in the US suffer from dry eye disease.

The transaction is expected to close in the second quarter of 2013, subject to regulatory approval in the US and other customary closing conditions.