UPDATE: Shire adds to ophthalmics portfolio with buy of Foresight Biotherapeutics

Ireland-based drugmaker Shire (LSE: SHP) today revealed that it has acquired New York-based, privately held Foresight Biotherapeutics for $300 million.

With the acquisition, Shire acquires the 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, an ocular surface condition commonly referred to as pink eye.

This acquisition further strengthens Shire’s late-stage pipeline, has a clear strategic fit with Lifitegrast, which is in late-stage development for treatment of dry eye disease, another ocular surface condition, and further demonstrates Shire’s commitment to building a leadership position in ophthalmics, the company said. Lifitegrast is a novel small-molecule integrin inhibitor formulated as a preservative-free topical eye solution that Shire acquired through its $160-million purchase of SARcode in 2013 (The Pharma Letter March 26, 2013). The drug is awaiting a regulatory approval decision from the US Food and drug administration, which is expected by October.