- Shire (SHPG) is taking a $650M loss on its Dermagraft treatment for the treatment of diabetic foot ulcers after selling the therapy to U.S.-based Organogenesis.
- Shire isn't receiving any money up front, although it could get as much as $300M in revenue milestone payments.
- Shire acquired Dermagraft when it bought Advanced BioHealing for $750M in June 2011, but soon after the deal, the FDA rejected the drug for treating leg ulcers.
- SocGen analysts are happy that Shire is getting rid of a "non-core, loss-making product."
- Shares are +0.6% in London. (PR)
From other sites
at Investor's Business Daily (Feb 12, 2015)
at Investor's Business Daily (Jan 26, 2015)
at CNBC.com (Jan 16, 2015)
at CNBC.com (Jan 15, 2015)
at Benzinga.com (Jan 15, 2015)
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