Shire to sell non-core assets to Spain's Almirall for $213mn

10/08/07 - newratings.com

LONDON, October 8 (newratings.com) – Shire Plc (SHP-GBX) Monday announced that it has agreed to sell some of its non core products to Spain's Almirall for $213 million in cash.

The third biggest drug maker in the UK said that the portfolio of products includes skin treatments Solaraze and Vaniqa, as well as six other non promoted products across a range of indications. The major markets for these products are the UK, France, Germany, Italy, Spain and Ireland, Shire added. The transaction is subject to regulatory and other customary approvals. Shire stated that it will now focus on attention deficit hyperactivity disorder (ADHD), human genetic therapies, gastrointestinal and renal diseases businesses, as well as on the area of regenerative medicine.