Issue Date: May 23, 2011
Shire To Buy Maker Of Synthetic Skin
Shire has agreed to pay $750 million to acquire Advanced BioHealing, a maker of a bioengineered skin substitute used in the treatment of diabetic foot ulcers. ABH had sales last year of $146 million, which Shire figures is about 5% of the potential market for slow-healing diabetic foot ulcer treatments. ABH was on the verge of making an initial public offering of stock when the deal was announced. Shire says ABH will be the core of a new business in regenerative medicine.
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