LONDON (SHARECAST) - Drug group Shire Pharmaceuticals has agreed to sell a portfolio of non core products to Almirall for $213m in cash, it said Monday.
Solaraze, a treatment for skin lesions on areas damaged by sunlight, is to go, as is Vaniqa, a cream used on female facial hair, and six other non-promoted products.
The firm said the divested products, mainly sold by Shire in the UK, France, Germany, Italy, Spain and Ireland, are no longer core to its strategy
It said the group’s focus is on building its attention deficit hyperactivity disorder (ADHD), human genetic therapies, gastrointestinal and renal diseases businesses.
Shire aims to expand its ADHD expertise to markets outside the US within the next two years, with an initial focus on the EU.
Shire added that with its recent in-licensing of Juvista, an experimental treatment for scarring, from Renovo plc, it intends to build a new specialty area of regenerative medicine.
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