Shire divests non-core products to Almirall, portfolio earned $53.8 million in 2006

Spanish drugmaker Laboratorios Almirall SA has entered into a definitive agreement to acquire a portfolio of eight products with part of the associated sales network in Europe, which includes a staff of 63, from the UK's Shire, for $213.0 million. The transaction is contingent on competition clearances and other customary consents.

Following the recent acquisition of dermatology company Hermal, Almirall says it is paving the way for its future operation in the UK while continuing to consolidate its international expansion, particularly in countries where the company already has subsidiaries: Germany, Belgium, France, Italy, Mexico and Portugal.

The acquired portfolio consists of two dermatology products and six others for the treatment of pain, gastrointestinal and inflammatory diseases, which together generated sales in 2006 of $53.8 million, around 70% of which were in the UK, with the remaining 30% in Germany, France, Spain, Ireland and Italy.