Shire to acquire Jerini

Shire has announced plans to purchase a biotechnology firm to add a new human genetic therapies (HGT) product to its portfolio.

The company will launch a voluntary public takeover offer for shares in Jerini for an equity purchase price of 328 million euros (260 million pounds) and will add Firazyr (icatibant acetate) to its HGT product range.

Other assets included in the deal are JPT Peptide Technologies and Jerini Ophthalmic, while the agreement has unanimous support from the management and supervisory boards of Jerini.

Firazyr is expected to be launched in the EU in the second half of 2008, with predicted peak annual sales in the region of $350-400 million.

Shire announced plans to cooperate with Jerini and regulatory bodies to seek approval for the drug in the US and other territories.

Angus Russell, chief executive of Shire, said: “The proposed acquisition of Jerini would bring to Shire a new drug that is highly complementary to our HGT portfolio, which we have been developing since 2005 as part of our clear, overall focus on specialist drugs.”

He added that Firazyr treats a morbidly symptomatic disorder and satisfies unmet medical need, with the compound having orphan designation in both the US and Europe.

In November 2007, Shire announced the appointment of Dr Whaijen Soo as senior vice-president of research and development of its HGT business.