Shire to buy Meritage Pharma
pharmafile | February 25, 2015 | News story | Research and Development, Sales and Marketing | AbbVie, Meritage Pharma, Shire, eoe, gastrointestinal
Shire has purchased Meritage Pharma, a privately-held company specialising in gastrointestinal and skin diseases for $70 million.
The acquisition means Shire will develop and own the rights to Meritage’s treatment oral budesonide suspension, for adolescents and adults with eosinophilic esophagitis (EoE), a rare, chronic inflammatory gastrointestinal disease.
Shire acquired the right to buy Meritage, which is based in San Diego, California, in its $4.2 billion 2013 deal to buy US-based rare disease firm ViroPharma.
Shire does not expect this acquisition to result in a change to its previously published earnings guidance for 2015. In the last quarter of 2014 the company recorded a 19% growth in revenues, even after the collapse of its deal with Abbvie.
Shire’s head of R&D, Philip Vickers, says: “Shire’s pipeline and strategic focus on rare diseases is further strengthened with the acquisition of Meritage, which complements our strong gastrointestinal capabilities. Adding this Phase III-ready compound to our late-stage portfolio will allow us to leverage our expertise to further develop this important therapy that, if approved, will give hope to patients living with eosinophilic esophagitis.”
Elaine Phillips, Meritage’s president and chief executive, adds: “The acquisition of Meritage by Shire may benefit physicians and patients by helping develop OBS to potentially become the first approved treatment in the US indicated for this often disabling disease.”
EoE affects around 181,000 people in the US. It is caused by the accumulation of a specific type of immune cell, called an eosinophil, in the oesophagus, and the symptoms include difficulty swallowing and eating.
The FDA has granted orphan drug status designation for oral budesonide suspension the treatment of patients with EoE – and the steroid treatment is the active pharmaceutical ingredient in several treatments for asthma, allergic rhinitis, ulcerative colitis and Crohn’s disease.
Lilian Anekwe
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