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The acquisition strengthens Shire’s ophthalmics portfolio.
Shire has acquired New York-based, privately held Foresight Biotherapeutics for $300 million. The acquisition strengthens Shire’s position in ophthalmics. Shire will hold global rights to FST-100 (topical ophthalmic drops combining 0.6% povidone iodine [PVP-I] and 0.1% dexamethasone), a therapy in late-stage development for the treatment of infectious conjunctivitis. This move is a boost to Shire’s late-stage pipeline and has a clear strategic fit with lifitegrast, which is in late-stage development for treatment of dry eye disease.
The approval of FST-100 would make it the first treatment for both bacterial and viral eye infections, transforming treatment of acute conjunctivitis. With global rights to FST-100, Shire will evaluate an appropriate regulatory filing strategy for additional markets outside the United States. Under the terms of the agreement, Shire will make a cash payment of $300 million to complete the acquisition of Foresight Biotherapeutics.