Shire receives European approval for Firazyr drug

SHARES in Shire leapt 2.6 per cent to a near all-time high yesterday on the news that European regulators approved its Firazyr drug for self-administration by sufferers.

The treatment, for a rare hereditary immunity disorder known as Quincke edema, now looked very likely to be approved by the US regulator and has the potential to generate sales of $150m (£92m) to $200m a year, analysts said.

Shares in the drug company closed up 44p at £17.63.

The rare disorder, which targets the body’s immune, system causes swelling, particularly of the face and airways, as well as abdominal cramping. Shire’s treatment allows Firazyr to be administered using a pre-filled syringe. The drug is licensed in 37 countries.