AnorMed gets $3 million from Shire

AnorMed gets $3 million from Shire

AnorMed sold to Shire in 2004 the global patent rights for Forsenol, which lowers phosphate levels in the blood. High blood phosphate levels are seen in patients undergoing dialysis for chronic kidney failure.

AnorMed, which has received $19 million in royalty payments from Shire, said it is eligible for $3 million more if the drug is approved in one of four additional European Union countries.

AnorMed shares fell 14 cents to $9.75 in early trading on the Nasdaq.

Copyright 2006 Associated Press. All rights reserved.


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