Shire buys repurposed Pfizer/Sanofi drugs through $260m Lumena acquisition

Shire has acquired rare disease-focused Lumena Pharmaceuticals of San Diego for $260m in cash. Lumena is developing repurposed cholesterol-lowering drugs that it licensed from Pfizer and Sanofi to treat cholestatic liver diseases. A further payment for the biotech's cash on closing and milestone payments related to ongoing clinical trials are also included in the deal.