Shire to acquire Sarcode Bioscience

Shire has confirmed it is set to acquire California-based biopharmaceutical company Sarcode Bioscience as part of plans to widen its presence in ophthalmology.

The biopharmaceutical giant announced the move would build its reputation in this category, while bringing about a new phase III compound Lifitegrast into its portfolio.

This medication is currently under development by the smaller firm to treat the signs and symptoms of dry eye disease, which affects around 25 million people in the US.

As part of the acquisition, Shire is expecting to launch the drug in the US as early as 2016 following the positive outcome of the clinical development programme and regulatory approvals.

Commenting on the deal, Flemming Ornskov – chief executive officer designate of Shire – said the agreement has the potential to provide the basis for an attractive ophthalmology business for the organisation.

He added: "The acquisition of Sarcode is a demonstration of Shire’s focus on continuing to build our research and development pipeline with innovative, well-differentiated assets that address significant unmet patient need."