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Stock Market & Financial Investment News

News Breaks
January 17, 2014
05:23 EDTSHPGShire executes agreements to divest Dermagraft
Shire announced that it has entered into a definitive agreement pursuant to which it has sold its Dermagraft assets to Organogenesis. Dermagraft is a living skin substitute indicated for use in the treatment of full-thickness diabetic foot ulcers and is approved for use in the US and Canada. Going forward Organogenesis will assume all financial and management responsibility for Dermagraft. The Dermagraft assets that have been sold to Organogenesis comprise the key operating assets relating to the development, manufacture and sale of the Dermagraft product. These assets include intellectual property relating to Dermagraft including patents, trademarks and know-how; regulatory filings and registrations relating to Dermagraft; certain manufacturing plant, equipment and materials; Dermagraft product inventory and accounts receivable. These assets had a value of $683M in Shire's September 30, 2013 balance sheet. Shire is generally retaining legacy liabilities relating to the Dermagraft business, including the previously announced Department of Justice investigation relating to the sales and marketing practices of Advanced Biohealing. Shire will receive no upfront payment from Organogenesis but is entitled to receive up to $300M cash in total milestone payments should Organogenesis meet certain annual net sales targets between now and 2018. Shire will record a loss on disposal and associated impairment charges of approximately $650M in Q4, which will be excluded from Non GAAP earnings.
News For SHPG From The Last 14 Days
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July 23, 2015
14:01 EDTSHPGShire receives 'positive opinion' on Intuniv from CHMP
Shire announced that the Committee for Medicinal Products for Human Use has adopted a positive opinion recommending the approval of the once-daily, non-stimulant Intuniv, or guanfacine hydrochloride extended release, for the treatment of attention deficit/hyperactivity disorder in children and adolescents. The positive opinion is based on results from three Phase 3 pivotal studies investigating the short- and long-term safety and efficacy of Intuniv in children and adolescents. The European Commission will now consider the CHMP positive opinion in its decision of whether to grant marketing authorisation for Intuniv in Europe, said Shire.
07:25 EDTSHPGShire raises FY15 EPADS growth view to mid-to-high single digit percentage
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07:22 EDTSHPGShire reports Q2 EPS $2.63, consensus $2.81
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