Firazyr sale

After receiving a not approvable letter from FDA in April for its lead compound, Firazyr icatibant, Jerini AG found itself in a dilemma. With only €17 million in the bank, it would need to raise money both to finance the additional work required to get Firazyr on the market in the U.S. and to launch it in the EU, where the company anticipates approval this month. Jerini’s management decided that with a share price barely above €1, the best return for its shareholders lay with the sale of the company to Shire plc for €328 million ($516.6 million).

Among the options Jerini’s management team looked at were a capital increase, a royalty deal, partnering or a trade sale...