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Jerini makes Firazyr, an orphan drug treatment for hereditary angioedema, a rare genetic disorder which affects the blood vessels, causing rapid swelling of the hands, feet and face. The drug comes in a pre-filled syringe for easy injection.
Firazyr is expected to be approved in Europe in the 2008 third quarter. The drug's peak annual global sales are estimated to be around $350 million to $400 million. Hereditary angioedema affects about one in 50,000 people.
Shire said it will fund the transaction with existing cash and expects the deal to add to adjusted profit by the second half of 2010. The drugmaker will work with Jerini and the Food and Drug Administration to pursue Firazyr's approval in the U.S. In April, Jerini had received a not approvable letter for the drug, but Shire said it believes the drug could win approval once certain effectiveness data issues are resolved.
When the acquisition closes, Shire said it will review Jerini's other assets, including Jerini Ophthalmic Inc., a U.S. subsidiary developing a treatment for wet age-related macular degeneration, and JPT Peptide Technologies GmbH, a manufacturing operation which produces complex synthetic peptides, or amino acids.
In addition to the widely prescribed ADHD drugs Vyvanse and Adderall XR, Shire also makes Replagal for Fabry disease and Elaprase for hunter syndrome. Fabry is an inherited disorder that results from the buildup of a particular type of fat in the body's cells, and hunter syndrome is a rare hereditary disorder characterized by dwarfism.
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