(Reuters) - Irish drugmaker Shire Plc (L:SHP) said on Tuesday it would buy from Pfizer Inc (N:PFE) the rights to an experimental drug, designed to treat moderate-to-severe inflammatory bowel disease.
The drug, PF-00547659, has successfully completed mid-stage studies and late-stage trials are expected to begin after consultation with global health authorities, Shire said in a statement
Dublin-based Shire did not disclose the financial terms of the deal.
Inflammatory bowel disease is a condition that affects either part or all of the digestive tract and the cause of the disease is unknown.