Shire in-licenses IBD drug from Pfizer

Ireland-headquartered Shire (LSE: SHP) has agreed to license global rights to all indications for PF-00547659 from US pharma giant Pfizer (NYSE: PFE).

PF-00547659 is an investigational biologic being evaluated for the treatment of moderate-to-severe inflammatory bowel disease (IBD). It has been evaluated in more than 700 patients in Phase I and II trials, and Phase III studies are expected to begin after consultation with global health authorities. Closing of the transaction, financial terms of which are not disclosed, is subject to HSR approval.

IBD includes ulcerative colitis (UC) and Crohn's disease (CD), which are serious, chronic diseases characterized by inflammation of the intestine; symptoms include abdominal pain, severe diarrhea, rectal bleeding, fatigue, and weight loss, and can be debilitating. Treatment of IBD focuses on reducing inflammation and associated symptoms through diet and lifestyle changes, pharmacologic therapy, other treatments, or surgery. The prevalence of IBD is estimated to be more than 3.5 million people in the USA, the European Union, and Japan.