Shire plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical company, announces that it has entered into an agreement with Shionogi & Co. Ltd. of Japan to co-develop and co-commercialize certain of Shire's Attention Deficit Hyperactivity Disorder (ADHD) medicines in Japan. Shionogi will pay a one time fee and share costs with Shire in exchange for rights to jointly co-develop and co-commercialize the products upon approval for the Japanese market. Specific terms of the agreement are not being disclosed.
Shire is a recognized leader in the area of ADHD treatment and support, with a portfolio of medicines and resources to help ADHD patients and their families. Shionogi & Co., Ltd. is one of the leading Japanese pharmaceutical companies with an expertise in developing medicines for the central nervous system, among other therapeutic areas. Working together with the Shionogi team, Shire believes the path to regulatory approval, market development and commercialization for ADHD medicines will be more effective and efficient.
"Providing support for ADHD patients, their families and the medical community who treat these patients is at the heart of our approach at Shire, and this agreement with Shionogi underscores our commitment to helping patients diagnosed with ADHD," said Mike Yasick, Senior Vice President of Shire's ADHD business. "We look forward to working with the Shionogi team on efforts to enhance awareness in Japan about the impact undiagnosed and untreated ADHD can have on our societies, and the value that new treatment options can deliver for ADHD patients."
Senior Vice President of Shire's International Specialty Pharma business, Gian Piero Reverberi added, "Our agreement with Shionogi further demonstrates Shire's commitment to enabling greater patient access to Shire's growing portfolio of specialist therapeutics around the globe and specifically to the Japanese market."