Shire Inks $325M Deal For Blood Disorder Drug Co.

Law360, New York (March 15, 2012, 2:12 PM EDT) -- Irish pharmaceutical power Shire PLC beefed up its blood disorder treatment division Thursday with a $325 million deal to acquire privately held California-based FerroKin BioSciences Inc., which specializes in drugs that treat iron overload.

Shire will plunk down $100 million in cash up front, plus up to $225 million in milestone payments tied to clinical development, regulatory and net sales targets, according to a statement the company issued Thursday.

The deal is part of Shire's push to grow its hematology business, which already includes platelet-reducer Xagrid....
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