looks promising......, page-4

out-licensed treatment for hiv to avexa ltd LONDON, Jan 17 (Reuters) - Britain's third-biggest drugmaker
Shire Pharmaceuticals Group Plc said on Monday that it
had out-licensed an experimental treatment for HIV to Avexa Ltd
of Australia.
The out-licensing of SPD754 is one of the final steps in a
divestment programme to allow Shire to focus on later-stage
pipeline investment in its core specialism of central nervous
system, gastrointestinal and kidney disease, it said in a
statement.
Shire has been reshaping its business as it looks to reduce
reliance on top-selling hyperactivity drug Adderall XR, which
accounts for about 50 percent of drug sales but is expected to
face competition from cheaper generic copies from 2006 or 2007.
"Avexa is an ideal partner for the product," Shire Chief
Executive Matthew Emmens said in a statement.
"At the same time, we are able to retain a stake in the
future value of the product," Emmens added.
Avexa will take on responsibility for the global development
of SPD754, which is in Phase II clinical trials and is expected
to reach the market in 2009.
Avexa will have the right to commercialise the treatment
throughout the world except in North America, where Shire will
retain such rights.
Under the deal, Shire will take a A$2 million ($1.52
million) equity stake in Avexa, with an option to acquire 4
million more shares.
Shares in Shire closed 0.7 percent higher at 620 pence.