Shire Biochem Acquires Canadian Product Rights

On July 22, 2003, Quebec-based Shire BioChem, a subsidiary of Shire Pharmaceuticals Group plc, acquired the Canadian rights to five products from Mississauga, Onario-based DRAXIS Health Inc. for $13.5 million in cash, plus additional contingent milestone payments of $4 million on future product sales over several years.

Shire BioChem was represented in-house by Shona McDiarmid, vice-president, global intellectual property; Paul Pinsonnault, senior legal counsel; and Suzie Guillemette, legal counsel (corporate commercial); and assisted by Fraser Milner Casgrain LLP with a team that included Michael Beairsto, David Ujimoto and Andrea Feltham (corporate and technology).

DRAXIS Health was represented in-house by Douglas Parker, general counsel and secretary; assisted by David Woollcombe and Andrew Armstrong (corporate and securities) of McCarthy T├ętrault LLP, and by Conor McCourt (intellectual property) of Torys LLP.