Shire Pharmaceuticals Group plc has sold its US Over The Counter (OTC) products portfolio to an associated company of Purdue Pharma L.P. for US$72 million.
The OTC portfolio includes four products, namely: Colace, Peri-Colace, Slow Mag, and mineral oil.The products' net sales and operating income contribution are not material to the Group.
The above OTC products portfolio was part of the Roberts Pharmaceuticals acquisition in 1999.Although the OTC products consist of valued and established brands, this business has not been core to Shire's global strategy.With this transaction, Shire is completing its exit from all OTC activities.
Shire's core business is focused on four therapeutic areas - central nervous system disorders (CNS), oncology, gastro intestinal (GI) and anti-infectives.Shire also has three platform technologies:advanced drug delivery, lead optimisation for small molecules and biologics.Shire's core strategy is based on research and development combined with in licensing and a focus on eight key pharmaceutical markets.