Shire has nailed down another deal to fuel its growing rare disease unit. The pharma group has tapped the Cambridge, MA-based startup Nimbus Discovery, which will use its computational approach to find small-molecule drugs for rare genetic diseases known as lysosomal storage disorders.
The R&D numbers for the top 10 biotechs may only amount to a fraction of what you'll find in Big Pharma. But unlike the giants, which are trying to keep a lid on multibillion-dollar budgets, you'll find a much faster crowd when you turn your gaze to the biotechs.
Shire's new CEO wasted no time in putting his stamp on the company's global operations. In his first quarterly report this morning the newly minted Chief Executive Flemming Ornskov divvied up the marketing operations among five units based on disease categories and forged a single R&D organization for the company.
Fast-changing Shire is on a deal spree. This morning the biotech announced it is buying Brisbane, CA-based SARcode Bioscience for $160 million upfront and an unspecified slate of milestones. The buyout lands another ophthalmology asset for Shire, which closed on Sweden's Premacure just days ago.
In a move that could help diversify its overall pipeline, Shire placed its bet on Swedish company Premacure AB and its Phase II protein replacement therapy designed to combat a rare disease that causes blindness in premature infants.
Shire's new CEO apprentice has closed on his first buyout deal for the company. Flemming Ornskov took the lead this morning in announcing that Shire has snapped up the Swedish biotech Premacure AB in a deal that will add a near late-stage, rare disease program to the company's bustling Human Genetic Therapies group in Lexington, MA.
If AstraZeneca decides it needs a big acquisition to get out of the doldrums, it may find itself competing with Bristol-Myers Squibb. The Wall Street Journal reports that Bristol-Myers has been kicking tires around the industry, most recently at Biogen Idec.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Jennifer Levin ( email | Twitter ) and we will feature it...
While generic versions of Shire's blockbuster Adderall XR are now on the market, its ADHD replacement Vyvanse broke into blockbuster territory last year.
Bright and early today Shire issued an annual report on 2012 brimming with rising sales and bullishly outlining some ambitious late-stage efforts. But as the company prepares to make a high-profile switch in the CEO suite, Shire also announced that Sylvie Gregoire, president of the fast-growing rare-disease division, will step out of her role just as a new CEO is being prepped for the top job.