Priority Review erases Shire's losses on trial miss

Shire plc (LSE:SHP; NASDAQ:SHPG) turned early losses on clinical data into gains on Thursday, picking up $7.24 to $254.32 on NASDAQ after FDA accepted for filing and granted Priority Review to an NDA for lifitegrast ( SHP606) to treat dry eye.

Lifitegrast's PDUFA date is Oct. 25. Shire expects the candidate to generate at least $1 billion in annual sales by 2020 (see BioCentury, June 30, 2014). ...