Shire and Lumena Pharmaceuticals announce the acquisition of Lumena Pharmaceuticals by Shire.
The acquisition of Lumena strengthens Shire’s already valuable and robust pipeline.
It complements Shire’s strategic focus on Rare Diseases and provides a future growth path for Shire’s Gastrointestinal business, which generated revenues of over $800 million in 2013.
In acquiring Lumena, Shire is gaining experience in liver disease with the opportunity to leverage its existing GI commercial infrastructure.
In addition, there is a good fit with Shire’s recent acquisition of Fibrotech, which has brought pipeline programs to address unmet patient need in other fibrotic conditions including renal impairment.
Lumena Pharmaceuticals brings to Shire two new oral therapeutic compounds; LUM001, in Phase 2 with four potential orphan indications and LUM002, ready to enter Phase 2 later in 2014.
Shire will acquire Lumena Pharmaceuticals for an upfront payment of $260 million in cash, plus a payment for net cash at closing, and near-term contingent milestone payments related to ongoing clinical trials
For further deal information visit Current Agreements (subscription required)
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