Shire buys into Salix's balsalazide

Shire (LSE:SHP) will pay Salix (TSE:SLX) up to $24 million for exclusive European rights to balsalazide, a 5 aminosalicylic acid (5-ASA) derivative, to treat ulcerative colitis. Other marketed 5-ASA derivatives include SHP's Pentasa, which was obtained through SHP's merger with Roberts Pharmaceutical; and Asacol, which is marketed by Procter & Gamble (PG) in the U.S and SmithKline Beecham (SBH) in the U.K. Salix, which licensed balsalazide from Biorex Laboratories (Enfield, U.K), received an approvable letter from the FDA in March. ...