Shire (pharmaceutical company)
|Public limited company|
|Traded as||LSE: SHP, NASDAQ: SHPG|
|Predecessor||Shire Pharmaceuticals Group Plc|
|Headquarters||Registered Office: St Helier, Jersey
Corporate HQ: Dublin, Ireland
UK Operations: Basingstoke, England
|Matthew Emmens (Chairman)
Flemming Ørnskov, MD (CEO)
|Revenue||$6,022.1 million (2014)|
|$2,593.0 million (2014)|
|$2,088.5 million (2014)|
Number of employees
Shire Plc is a Jersey-registered, Irish-headquartered global specialty biopharmaceutical company. Originating in the United Kingdom with a large operational base in the United States, its brands and products include Vyvanse, Adderall XR, Intuniv, Lialda, Pentasa, Fosrenol, Replagal, Elaprase, VPRIV, Firazyr and Dermagraft.
Shire has its primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £17.1 billion as of 8 April 2014, making it the 28th-largest company on the London Stock Exchange. Shire has a secondary listing on NASDAQ.
Shire was founded by Harry Stratford, Dr James Murray, Dennis Stephens, Peter Moriarty, and Geoff Hall in 1986. It was first listed on the London Stock Exchange in 1996. Shire's initial products were calcium supplements (Calcichew-D3) for patients seeking to treat or prevent osteoporosis. Shire's acquisitions include:
|Date||Company acquired||Price (millions)||Information||Ref|
|1997||Richwood Pharmaceutical Company||Formation of Shire-Richwood, Inc.|||
|2007||New River Pharmaceuticals Inc||$2,300||Owners of Vyvanse|||
|2008||Jerini||$521||German company focussing on hereditary angioedema|||
|2010||Movetis||$565||Belgian company focussing on gastrointestinal products|||
|2011||Advanced BioHealing||Regenerative medicine|||
|2012||FerroKin BioSciences||$325||Biotechnology, includes acquisition of the iron chelator compound FBS0701|||
|2013||Lotus Tissue Repair, Inc.||Biotechnology, includes acquisition of ABH001|||
|2013||SARcode Bioscience Inc.||Biopharmaceutical|||
|2014||Lumena||$260||Rare gastro-intestinal & hepatic compounds|||
|2015||NPS Pharmaceuticals||$5,200||Medicines for rare diseases, in particular Gattex and Natpara|||
|2015||Meritage Pharma||$245||Bolsters Shires Gastro-intestinal and rare disease sectors, with Phase-III ready treatment - Budesonide Suspension for the treatment of eosinophilic esophagitis|||
On 20 June 2014, Shire rejected a takeover attempt by AbbVie. AbbVie offered £46.11 per share (£27.3 billion or $46.5 billion in total). On 8 July the offer was increased to $51.5 billion. On 18 July, it was announced that AbbVie would acquire Shire for $54.8 billion. On October 15, news broke suggesting AbbVie was reconsidering their proposed takeover deal due to changes in US "Tax Inversion" law  and on October 16, AbbVie's board recommended that shareholders vote against the deal. This news sent Shire's share price down over 27%, however AbbVie will be subject to a $1.6 billion break up fee, payable to Shire. On October 21 the merger was called off.
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Shire develops and provides healthcare in the areas of behavioural health, gastrointestinal conditions, rare diseases, and regenerative medicine.
|Vyvanse||$1,029.8M||Attention Deficit Hyperactivity Disorder (ADHD)|
|Adderall XR||$429.0M||Attention Deficit Hyperactivity Disorder (ADHD)|
|Replagal||$497.5M||Fabry disease (lysosomal storage disorder)|
|Elaprase||$497.6M||Hunter syndrome (lysosomal storage disorder)|
|Lialda/Mezavant||$399.9M||Gastrointestinal (Ulcerative colitis)|
|VPRIV||$306.6M||Type 1 Gaucher disease|
|Pentasa||$265.8M||Gastrointestinal (Ulcerative colitis)|
|Intuniv||$287.8M||Attention Deficit Hyperactivity Disorder (ADHD)|
|Dermagraft||$153.8M||Diabetic Foot Ulcers (“DFU”)|
|Other (including Xagrid, Equasym, and Resolor)||$250.6M|
In July 2014, Shire licenced the rights to the investigational Hunter sydrome compound, AGT-182, from ArmaGen for up to $225 million. Shires pipeline also includes the phase II compound, SHP609, aimed at treating CNS disorders associated with Hunters syndrome.
|Adderall XR||$70.3M||Attention Deficit Hyperactivity Disorder (ADHD)||Imapx and Teva|
|3TC (Lamivudine) and Zeffix (Lamivudine)||$91.6M||HIV and Chronic hepatitis B||GlaxoSmithKline|
|Fosrenol||$53.3M||Renal disease||Bayer Yakuhin|
The original corporate headquarters and still major operation base are located in Basingstoke, Hampshire, England. Other major offices are located in the United States in Wayne, Pennsylvania and Cambridge, Massachusetts. In addition, Shire owns a manufacturing site in Lexington, Massachusetts and San Diego, California. It announced in November 2013 that it would be further reducing its presence in the UK.
In 2008, in reaction to new taxation measures announced by the Labour Party in the treatment of royalties on patents, the company moved its tax domicile to Dublin, Ireland. Effected through the creation of a new holding company in St Helier, Jersey in the Channel Islands, it will pay reduced tax on global earnings, where royalties on patents lodged in Ireland are tax free.
The non-executive Board chairman is Susan Kilsby. Flemming Ørnskov, MD, has been the company's chief executive officer since mid-2013. James Bowling, Interim Chief Financial Officer (CFO). It was reported in October 2014 that James Bowling would vacate the interim CFO position and leave Shire by the end of March 2015.
- "Preliminary Results 2014" (PDF). Retrieved 21 March 2015.
- "Careers". Shire plc. Retrieved 15 March 2014.
- "Contact Us". Shire plc. Retrieved 3 January 2010.
- "FTSE All-Share Index Ranking". stockchallenge.co.uk. Retrieved 30 April 2013.
- "Our History - Shire". shire.com.
- Shire buys US drugs delivery firm for pounds 105m The Independent, 26 February 1997
- Investment Column: Shire focuses on buying Richwood The Independent, 5 August 1997
- Canadians give go-ahead for Shire takeover of BioChem The Telegraph, 10 May 2001
- U.K. drug maker agrees to buy Transkaryotic Wall Street Journal, 2005
- Shire buys New River Pharmaceuticals for $2.6 billion Pharma Times, 21 February 2007
- Shire to buy Jerini in $521M deal Fierce Biotech, 3 July 2008
- Shire forges $565M buyout deal for Movetis Fierce Biotech, 3 August 2010
- Shire swoops to buy Advanced BioHealing Pharma Times, 18 May 2011
- Shire to buy U.S. biotech firm for up to $325 million Reuters, 15 March 2012
- Shire Acquires Lotus Tissue Repair, Inc. Shire.com, 8 January 2013
- Shire Acquires Premacure AB Shire.com, 12 March 2013
- Shire to Acquire SARcode Bioscience, Expands Presence in Ophthalmology Shire.com, 25 March 2013
- Shire Buys ViroPharma for $4.2 Billion to Add Orphan Drug Bloomberg.com, 11 November 2013
- "Fibrotech acquired by Shire for US$75M plus milestones". FierceBiotech.
- "GEN - News Highlights:Shire Acquires Lumena for $260M+". GEN.
- "UK drug firm Shire to buy US rival in $5.2bn deal". Business. BBC Online (BBC News). 11 January 2015.
- "Shire to Acquire NPS Pharma as Further Step in Building a Leading Biotech". Investor News (Press release). Shire. 11 January 2015.
- Staff (15 January 2015). "Analyst: Shire Completes ‘Robust’ Deal in $5.2 Billion NPS Pharmaceuticals Acquisition". Pharmaceutical Processing.
- "GEN - News Highlights:Shire Acquires Meritage Pharma for Up-to-$245M". GEN. Retrieved 21 March 2015.
- David Welch, Matthew Campbell and Simeon Bennett (21 June 2014). "AbbVie Said to Consider New Bid After Shire Rejects Offer". Bloomberg.
- Caroline Chen, Drew Armstrong and Simeon Bennett (8 July 2014). "AbbVie Raises Offer for Shire to $51.5 Billion". Bloomberg.
- Simeon Bennett and Caroline Chen (19 July 2014). "AbbVie Is Biggest to Quit U.S. Address in $55 Billion Shire Deal". Bloomberg.
- Albertina Torsoli, Kristen Hallam and Oliver Staley (15 October 2014). "AbbVie Reconsidering Shire Sends Inversion Targets Down". Bloomberg.
- Albertina Torsoli, Manuel Baigorri and Matthew Campbell (16 October 2014). "AbbVie Board Recommends Holders Vote Against Shire Deal". Bloomberg.
- Albertina Torsoli, Manuel Baigorri and Matthew Campbell (16 October 2014). "Shire Shares Extend Drop After AbbVie Backtracks on Deal". Bloomberg.
- Philippidis, Alex (21 October 2014). "AbbVie, Shire Call Off $51.7B Merger". GEN News Highlights. Gen. Eng. Biotechnol. News.
- Hoffman, Liz (20 October 2014). "Paulson Urges Allergan/Shire Tie-up". MoneyBeat. The Wall Street Journal.
- "GEN - News Highlights:ArmaGen Licenses AGT-182 Rights to Shire for Up to $225M". GEN.
- "Shire delivers fresh blow to UK life sciences". Financial Times. 10 November 2013. Retrieved 8 December 2013.
- Shire moves to Ireland for tax Irish Examiner, April 2008
- "Board of Directors". Shire. Retrieved 13 February 2015.[self-published source?]
- Bennett, Simeon (10 June 2013). "Shire’s New CEO Adds Sales Staff, Damps Takeover Talk". Bloomberg Business News.
- "Executive Leadership Committee". Shire. Retrieved 13 February 2015.[self-published source?]
- Minkoff, Yoel (20 October 2014). "Shire CFO calls it quits". Seeking Alpha (United States).