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Shire plc Message Board

  • troyinmiami troyinmiami Jul 22, 2003 3:34 PM Flag

    Canadians are doing ok

    SHIRE BIOCHEM EXPANDS PRODUCT OFFERING - Acquires Canadian Rights to Five Products from DRAXIS Health

    Tuesday July 22, 1:15 pm ET

    LAVAL, Quebec, July 22 /CNW Telbec/ - Shire BioChem, a subsidiary of Shire Pharmaceuticals Group plc (LSE: SHP, NASDAQ: SHPGY, TSX: SHQ), announces that it has signed an asset purchase agreement with DRAXIS Health Inc. to acquire the Canadian rights to five products licensed to DRAXIS, four related to the Central Nervous System (CNS) and one in nephrology, both key therapeutic areas for Shire. Each of these products has been approved for commercialisation by the Canadian Health authorities.

    The products are:

    In CNS

    - Permax(R) (pergolide mesylate) for Parkinson's disease, an illness which affects some 30,000 Canadians;
    - Zanaflex(R) (tizanidine hydrochloride) for the treatment of spasticity, a condition that causes the muscles to stiffen and become rigid, symptoms linked to diseases such as multiple sclerosis, spinal cord injury, stroke, cerebral palsy or brain injury;
    - Alertec(R) (modafinil) for narcolepsy, a disease principally characterized by a permanent and overwhelming feeling of sleepiness and fatigue, affecting some 20,000 Canadians;
    - Diastat(R) (diazepam rectal gel) for seizures due to epilepsy, a
    disease affecting over 300,000 Canadians

    and

    In Nephrology

    - Hectorol(TM), an improved Vitamin D hormone therapy for the treatment of bone disease in patients suffering from renal
    failure.


    The transaction includes an upfront payment as well as milestone payments.
    "The acquisition of these five products will allow us to continue to grow our Canadian operations," said Joseph Rus, President and CEO of Shire BioChem. "The CNS products are already well established in the Canadian market and we will continue to assure their accessibility to patients throughout the country while introducing a new medication for renal disease patients. This acquisition is consistent with Shire's global focus in key therapeutic areas such as CNS and nephrology," he added.

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