ARTICLE | Company News

Jerini, Shire deal

July 7, 2008 7:00 AM UTC

Shire said it will acquire Jerini for €6.25 per share in cash, valuing the company at €328 million ($516.6 million). The price is a 71% premium to Jerini's close of €3.65 on July 2, the day before the deal was announced. The deal gives Shire Firazyr icatibant, a selective peptidomimetic bradykinin B2 receptor antagonist that is under review in the U.S. and EU to treat hereditary angioedema (HAE). In April, Firazyr received a positive opinion from EMEA's CHMP, yet FDA issued a not approvable letter for the compound in HAE.

Shire said it estimates that Firazyr could reach peak annual global sales of $350-$400 million. It said the compound would complement its Human Genetic Therapies portfolio, which includes Elaprase idursulfase, an iduronate-2-sulfatase enzyme that is marketed to treat mucopolysaccharidosis II (MPS-II, Hunter's syndrome), and Replagal agalsidase alfa, an injectable alpha-galactosidase A enzyme to treat Fabry's disease. Shire said it expects EU approval of Firazyr this quarter, with a launch in Europe this year. The company also said a complete response is expected to be submitted to FDA within the next three to four months. Jerini has rights to Firazyr from sanofi-aventis Group (Euronext:SAN; NYSE:SNY, Paris, France). ...