Deals
Shire Buys Premacure for Blindness-Stopping Drug in Infants
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Shire Plc, a maker of drugs for rare genetic diseases, bought Sweden’s Premacure AB to gain an experimental treatment against a blindness-causing disorder in babies born prematurely.
Shire will pay an upfront fee for the closely held company, which is based in Uppsala, and further payments if the drug meets certain development targets, the Dublin-based company said in a statement today, without disclosing amounts. The initial payment is probably less than $30 million, said Savvas Neophytou, an analyst at Panmure Gordon & Co.