LONDON May 12 London-listed drugmaker Shire
has bought San Diego-based biopharmaceutical firm Lumena
Pharmaceuticals, a company with rare disease pipeline assets,
for at least $260 million.
Shire said on Monday that buying Lumena Pharma, whose
programs include treatments for liver diseases, would add to its
rare diseases portfolio and would help it grow its
It said it would make an upfront payment of $260 million in
cash, plus a payment for net cash at closing, as well as
near-term contingent milestone payments related to ongoing
The company added that does not expect the acquisition to
result in a change to its previously stated earnings guidance
The deal is the latest move of consolidation in the
pharmaceutical sector, which has seen Shire itself reportedly
attract the interest of Allergan Inc.
(Reporting by Brenda Goh, Editing by Paul Sandle)