Shire PLC: A new phase III studying SPD602 vs Exjade from Novartis
NEUTRAL, Fair Value 2350p (-3%)
Last week, Shire posted a new phase II trial studying SPD602 (its own iron chelator) with Exjade (deferasirox) from Novartis for the treatment of chronic transfusional iron overload in subjects with beta thalassemia. At this point, we factor a 50% probability of success for this compound which targets a market historically controlled by Novartis with Desferal and Exjade (850mUSD in 2012).
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