Drug Discovery and Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Genomics/Proteomics
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • R&D 100 Awards
  • Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50

Shire to Spend About $225M on Drug Collaboration

By Drug Discovery Trends Editor | July 23, 2014

The drugmaker Shire plans to spend about $225 million in a joint effort with a privately held, U.S. firm to develop a potential treatment for the rare and life-threatening genetic disorder Hunter syndrome.
 
The British company said Wednesday it will pay $15 million upfront and then make additional payments to the firm, ArmaGen, to cover sales and development milestones and help fund research.
 
ArmaGen will be responsible for conducting early- and mid-stage research, expected to start before the end of this year, on its potential treatment. Shire then will take over further clinical testing, including late-stage studies, which are the final and most expensive trials a drug passes through before the pharmaceutical company submits it to regulators for approval.
 
The potential treatment, labeled AGT-182, has received an orphan drug designation from both U.S. and European regulators. That status can lead to some added marketing exclusivity if the drug is approved and a faster review by regulators.
 
Shire PLC also is in talks with U.S. drugmaker AbbVie over a roughly $55 billion combination that would create a new company incorporated in the United Kingdom but controlled by shareholders of North Chicago, Illinois-based AbbVie Inc.
 
U.S.-traded shares of Shire climbed $1.24 to $255.20 in premarket trading Wednesday.
 
Date: July 23, 2014
Source: Associated Press

Filed Under: Drug Discovery

 

Related Articles Read More >

Takeda Pharmaceutical in the Drug Discovery & Development Pharma 50
Takeda’s Takhzyro fares well in pediatric hereditary angioedema study
Novartis in the Pharma 50
Novartis to cut up to 8,000 positions
Gilead Sciences in the Drug Discovery & Development Pharma 50
Gilead resubmits application to FDA for twice-yearly HIV drug lenacapavir
George Floyd mural
How the pandemic and George Floyd made clinical trial diversity a priority

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Need Drug Discovery news in a minute?

We Deliver!
Drug Discovery & Development Enewsletters get you caught up on all the mission critical news you need. Sign up today.
Enews Signup
Drug Discovery and Development
  • MASSDEVICE
  • DEVICETALKS
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • MEDTECH 100
  • Medical Design Sourcing
  • Subscribe to our Free E-Newsletter
  • Contact Us
  • About Us
  • Advertise With Us
  • R&D World
  • Drug Delivery Business News
  • Pharmaceutical Processing World

Copyright © 2022 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Drug Discovery & Development

  • Home Drug Discovery and Development
  • Drug Discovery
  • Genomics/Proteomics
  • Oncology
  • Neurological Disease
  • Infectious Disease
  • R&D 100 Awards
  • Pharma 50
    • 2022 Pharma 50
    • 2021 Pharma 50