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rare-diseases

Shire on a roll as U.S. approves keenly awaited eye drug

Shire has won U.S. approval for its most important new medicine, a treatment for dry eyes, in a fresh boost for the company which completed its $32 billion acquisition of U.S. rare diseases specialist Baxalta last month. The Dublin-based drugmaker has been a big stock market winner following Britain's decision to leave the European Union, benefiting from the strength of the dollar against sterling and investor demand for defensive sectors like pharmaceuticals. Shire shares — already up a fifth since the UK referendum on June 23 — gained another 4 percent on Tuesday on news the U.S. Food and Drug Administration had approved lifitegrast eye drops for treating signs and symptoms of dry eye disease.

Baxalta in deal to expand immuno-oncology business

(Reuters) – Drugmaker Baxalta Inc has signed a deal with privately held Symphogen under which the companies will develop immuno-oncology drugs to treat rare cancers. The deal with Symphogen comes as Baxalta approaches the final stages of negotiating a potential sale to rare diseases drugmaker Shire Pharmaceuticals. It would include a cash component of about $20 per share, with the rest of it paid in Shire stock, said the sources, asking not to be identified because the negotiations are confidential.