London-listed drugmaker Shire has bought San Diego-based biopharmaceuticals company Lumena Pharmaceuticals for at least $260 million in a deal that gives it promising drugs that could be used to treat rare liver diseases.In the latest in a wave of pharmaceuticals sector consolidation, Shire, which itself has reportedly attracted the interest of Allergan Inc, said the Lumina deal would add to its rare diseases portfolio and strengthen its gastrointestinal business.Lumena CEO Mike Grey, meanwhile, said that Shire would help his company take its two liver drugs through the final stages of development and into the market.The company acquired the drugs three years ago from Pfizer and Sanofi, which were devloping them for different applications before putting them on the shelf.
Allergan, Inc. is a multi-specialty health care Company focused on developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products. Shares of AGN fell by 1.01% or $-1.635/share to $159.66. In the past year, the shares have traded as low as $81.33 and as high as $170.05. On average, 3978680 shares of AGN exchange hands on a given day and today's volume is recorded at 4935610.
Sanofi, formerly Sanofi-Aventis is a global and diversified healthcare company. Shares of SNY traded higher by 1.27% or $0.66/share to $52.64. In the past year, the shares have traded as low as $46.95 and as high as $55.94. On average, 1461060 shares of SNY exchange hands on a given day and today's volume is recorded at 440645.
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