Pharma BD Deal Intelligence
Shire's ~$521M acquisition of Jerini closed despite an FDA non-approvable letter for Firazyr (icatibant), a hereditary angioedema drug with only EU approval in hand. It paid off big: US approval followed in 2011, and sales hit $663M by 2017—before generic competition eroded the franchise under new owner Takeda.
A ~$521M bet on an FDA-rejected drug turned into a $650M+/year rare-disease blockbuster before generics caught up a decade later
Full analysis, sources & comparables →Neutral deal coverage relying on company statements: Jerini chairman 'confident that Shire's commercial expertise will ensure its successful market…
FIRAZYR peak annual global sales expected to be around $350-400 million... Expected to be accretive for Non GAAP earnings by the second half of 2010; highly…
Shire's $521M takeover offer for Berlin-based Jerini secures Firazyr, a first-in-class bradykinin B2 antagonist for HAE, days after EU approval and adds a…
Source summaries from our enrichment pipeline; follow links for originals.
All 5 sources with sentiment breakdown →
EUR 328M; Firazyr (icatibant) hereditary angioedema; Berlin-based
A ~$521M bet on an FDA-rejected drug turned into a $650M+/year rare-disease blockbuster before generics caught up a decade later
Assessment window: 15yr post-close.
Hereditary angioedema (HAE) is a rare genetic disorder caused by C1-esterase inhibitor deficiency that produces unpredictable, painful, and potentially life-threatening episodes of swelling in the skin, abdomen, and airway. Attacks can require emergency intervention, and prior to targeted therapies, treatment options were limited to fresh frozen plasma and supportive care.
At the time of Shire's 2008 acquisition of Jerini, the HAE acute treatment landscape was nearly empty in the US. Cinryze (C1 esterase inhibitor, ViroPharma — later acquired by Shire in 2014) and Berinert (CSL Behring) were the principal C1-INH replacement products in development or early launch, while Kalbitor (ecallantide, Dyax) was advancing as a kallikrein inhibitor. Firazyr (icatibant), a first-in-class bradykinin B2 receptor antagonist, was differentiated by subcutaneous self-administration without IV infusion infrastructure. The European Commission approved Firazyr in July 2008, days after the Shire-Jerini deal was announced, and FDA approval followed in August 2011 after an initial not-approvable letter. The acquisition gave Shire a launch-ready European rare-disease asset that complemented its Human Genetic Therapies franchise (Replagal, Elaprase) and positioned the company to lead a category that has since expanded to include Takhzyro (lanadelumab, Takeda) and Orladeyo (berotralstat, BioCryst). The deal accelerated category creation and entrenched Shire as the dominant HAE commercial player by the early 2010s.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| Shire plc / Jerini AG (this deal) | 2008 | $521M | 85 |
| Shire plc / Dyax Corp. | 2016 | $5.9B | 89 |
| Shire plc / New River Pharmaceuticals Inc. | 2007 | $2.6B | 88 |
| Shire plc / NPS Pharmaceuticals | 2015 | $5.2B | 78 |
| Shire plc / Baxalta Inc. | 2016 | $32.0B | 77 |
| Shire plc / ViroPharma Incorporated | 2013 | $4.2B | 58 |
| Shire plc / Movetis NV | 2010 | $565M | 37 |
← Browse all deals · How we score deals
More: 2008 deals · Shire plc deals