Shire Buys Rare Disease Biopharma Co. for $4.2B

Shire PLC will acquire Pennyslvania-based ViroPharma Inc., as part of a strategic move to strengthen rare disease portfolio.

It is being reported that several large companies, including France's Sanofi, were interested in ViroPharma.

ViroPharma's lead drug is Cinryze, a $350,000-a-year treatment for hereditary angioedema. Cinryze will complement Shire's Firazyr, an on-demand treatment for acute attacks of hereditary angioedema, by providing long-term prophylactic prevention.

The sale is part of a wave of large drugmakers slashing non-core activities in order to free up funds to boost new drug pipelines through aquisitions.

Read the Reuters press release

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