Wednesday, May 18, 2011

Shire announces deal to buy Advanced BioHealing for $750 mln - Yahoo! News

LONDON (AFP) – British pharmaceuticals group Shire on Wednesday said it had agreed to buy US company and tissue repair specialist Advanced BioHealing for $750 million (526 million euros) in cash.

Under the deal, Shire will acquire the US group's skin substitute product Dermagraft, which is used to treat diabetic foot ulcers.

"The potential to build on the success of Dermagraft is attractive," said Mike Cola, president of Shire's Specialty Pharmaceuticals business.

Posted via email from Jack's posterous

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