SAINT HELIER (dpa-AFX) - Shire Plc. (SHPG, SHP.L) and privately-held Meritage Pharma, Inc. Tuesday said that Shire has acquired Meritage for an upfront fee of $70 million and additional contingent payments based on the achievement of development and regulatory milestones.
With the acquisition, Shire has acquired the global rights to, and undertaken the further development of, Meritage's Phase 3-ready compound, Oral Budesonide Suspension or OBS, for the treatment of adolescents and adults with eosinophilic esophagitis or EoE, a rare, chronic inflammatory gastrointestinal disease.
This acquisition further enhances Shire's late-stage pipeline and builds upon the company's rare disease and gastrointestinal commercial infrastructure and expertise.
Shire does not expect this acquisition to result in a change to its previously published earnings guidance for 2015.
Shire obtained the rights to acquire Meritage in connection with its acquisition of ViroPharma in 2014.
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