Shire boosts rare diseases business by buying Premacure

LONDON (Reuters) – Shire increased its investment in rare diseases on Tuesday by acquiring privately held Swedish biotech firm Premacure, which is developing a drug for a potentially blinding eye disorder in premature babies. Britain’s third biggest drugmaker did not reveal how much it was paying for the Uppsala-based business but said it would pay a sum upfront followed by contingent payments based on clinical development and commercial success. …