Shire (pharmaceutical company)

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Shire Plc
Public limited company
Industry Pharmaceuticals
Predecessor Shire Pharmaceuticals Group Plc
Founded 1986; 29 years ago (1986)
Headquarters Registered Office: St Helier, Jersey
Corporate HQ: Dublin, Ireland
UK Operations: Basingstoke, England
Key people
Matthew Emmens (Chairman)
Flemming Ørnskov, MD (CEO)
Revenue $6,022.1 million (2014)[1]
$2,593.0 million (2014)[1]
$2,088.5 million (2014)[1]
Number of employees
5,300 (2014)[2]

Shire Plc is a Jersey-registered, Irish-headquartered global specialty biopharmaceutical company.[3] 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.[4] 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.[5] It was first listed on the London Stock Exchange in 1996.[5] 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 Pharmavene £105 Drug delivery [6]
1997 Richwood Pharmaceutical Company Formation of Shire-Richwood, Inc. [7]
2001 Biochem Canada [8]
2005 Transkaryotic Therapeutics [9]
2007 New River Pharmaceuticals Inc $2,300 Owners of Vyvanse [10]
2008 Jerini $521 German company focussing on hereditary angioedema [11]
2010 Movetis $565 Belgian company focussing on gastrointestinal products [12]
2011 Advanced BioHealing Regenerative medicine [13]
2012 FerroKin BioSciences $325 Biotechnology, includes acquisition of the iron chelator compound FBS0701 [14]
2013 Lotus Tissue Repair, Inc. Biotechnology, includes acquisition of ABH001 [15]
2013 Premacure AB Biotechnology [16]
2013 SARcode Bioscience Inc. Biopharmaceutical [17]
2013 ViroPharma $4,200 [18]
2014 Fibrotech $75 Antifibrotic compounds [19]
2014 Lumena $260 Rare gastro-intestinal & hepatic compounds [20]
2015 NPS Pharmaceuticals $5,200 Medicines for rare diseases, in particular Gattex and Natpara [21][22][23]
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 [24]
2015 Foresight Biotherapeutics $300 Expands Shire’s pipeline with a late-stage treatment candidate for infectious conjunctivitis with lead candidate FST-100 [25]
2015 Dyax $6,500 Increases the companies rare disease catalogue with Dyax’s portfolio of plasma kallikrein (pKal) inhibitors against hereditary angioedema (led by the approved dtug Kalbitor and the Phase III DX-2930). [26]

AbbVie Takeover[edit]

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).[27] On 8 July the offer was increased to $51.5 billion.[28] On 18 July, it was announced that AbbVie would acquire Shire for $54.8 billion.[29] On October 15, news broke suggesting AbbVie was reconsidering their proposed takeover deal due to changes in US "Tax Inversion" law [30] and on October 16, AbbVie's board recommended that shareholders vote against the deal.[31] 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.[32] On October 21 the merger was called off.[33]


Acquisition history[edit]

The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):

Shire Plc


(Acq 2015 by Shire)

Foresight Biotherapeutics
(Acq 2015 by Shire)

Meritage Pharma
(Acq 2015 by Shire)

NPS Pharmaceuticals
(Acq 2015 by Shire)


(Acq 2014 by Shire)

(Acq 2014 by Shire)


(Acq 2013 by Shire)

Lev Pharmaceuticals

SARcode Bioscience Inc
(Acq 2013 by Shire)

Premacure AB
(Acq 2013 by Shire)

Lotus Tissue Repair, Inc
(Acq 2013 by Shire)


FerroKin BioSciences
(Acq 2012 by Shire)

(Acq 2012 by Shire)


Advanced BioHealing
(Acq 2011 by Shire)


(Acq 2008 by Shire)


New River Pharmaceuticals Inc
(Acq 2007 by Shire)


Transkaryotic Therapeutics
(Acq 2005 by Shire)

Biochem Canada
(Acq 2001 by Shire)

Shire–Richmond, Inc

Richwood Pharmaceutical Company
(Acq 1997 by Shire)

(Acq 1997 by Shire)


Shire develops and provides healthcare in the areas of behavioural health, gastrointestinal conditions, rare diseases, and regenerative medicine.


A container of Adderall XR
Name Annual revenue[1] Indication
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)
Fosrenol $172.0M Renal disease
Dermagraft $153.8M Diabetic Foot Ulcers ("DFU")
Firazyr $116.3M (Hereditary angioedema)
Other (including Xagrid, Equasym, and Resolor) $250.6M

In July 2014, Shire licensed the rights to the investigational Hunter sydrome compound, AGT-182, from ArmaGen for up to $225 million.[35] Shires pipeline also includes the phase II compound, SHP609, aimed at treating CNS disorders associated with Hunters syndrome.

Royalty income[edit]

Name Annual revenue[1] Indication Licensee
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
Other $26.4M


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.[36]

Tax Avoidance[edit]

Leaked tax rulings, date July 16, 2010, signed by Marius Kohl

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.[37] 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.

Corporate leadership[edit]

The non-executive Board chairman is Susan Kilsby.[38] Flemming Ørnskov, MD, has been the company's chief executive officer since mid-2013.[39] James Bowling, Interim Chief Financial Officer (CFO).[40] It was reported in October 2014 that James Bowling would vacate the interim CFO position and leave Shire by the end of March 2015.[41]

See also[edit]


  1. ^ a b c d e "Preliminary Results 2014" (PDF). Retrieved 21 March 2015. 
  2. ^ "Careers". Shire plc. Retrieved 15 March 2014. 
  3. ^ "Contact Us". Shire plc. Retrieved 3 January 2010. 
  4. ^ "FTSE All-Share Index Ranking". Retrieved 30 April 2013. 
  5. ^ a b "Our History - Shire". 
  6. ^ Shire buys US drugs delivery firm for pounds 105m The Independent, 26 February 1997
  7. ^ Investment Column: Shire focuses on buying Richwood The Independent, 5 August 1997
  8. ^ Canadians give go-ahead for Shire takeover of BioChem The Telegraph, 10 May 2001
  9. ^ U.K. drug maker agrees to buy Transkaryotic Wall Street Journal, 2005
  10. ^ Shire buys New River Pharmaceuticals for $2.6 billion Pharma Times, 21 February 2007
  11. ^ Shire to buy Jerini in $521M deal Fierce Biotech, 3 July 2008
  12. ^ Shire forges $565M buyout deal for Movetis Fierce Biotech, 3 August 2010
  13. ^ Shire swoops to buy Advanced BioHealing Pharma Times, 18 May 2011
  14. ^ Shire to buy U.S. biotech firm for up to $325 million Reuters, 15 March 2012
  15. ^ Shire Acquires Lotus Tissue Repair, Inc., 8 January 2013
  16. ^ Shire Acquires Premacure AB, 12 March 2013
  17. ^ Shire to Acquire SARcode Bioscience, Expands Presence in Ophthalmology, 25 March 2013
  18. ^ Shire Buys ViroPharma for $4.2 Billion to Add Orphan Drug, 11 November 2013
  19. ^ "Fibrotech acquired by Shire for US$75M plus milestones". FierceBiotech. 
  20. ^ "GEN - News Highlights:Shire Acquires Lumena for $260M+". GEN. 
  21. ^ "UK drug firm Shire to buy US rival in $5.2bn deal". Business. BBC Online (BBC News). 11 January 2015. 
  22. ^ "Shire to Acquire NPS Pharma as Further Step in Building a Leading Biotech". Investor News (Press release). Shire. 11 January 2015. 
  23. ^ Staff (15 January 2015). "Analyst: Shire Completes ‘Robust’ Deal in $5.2 Billion NPS Pharmaceuticals Acquisition". Pharmaceutical Processing. 
  24. ^ "GEN - News Highlights:Shire Acquires Meritage Pharma for Up-to-$245M". GEN. Retrieved 21 March 2015. 
  25. ^
  26. ^
  27. ^ David Welch, Matthew Campbell and Simeon Bennett (21 June 2014). "AbbVie Said to Consider New Bid After Shire Rejects Offer". Bloomberg. 
  28. ^ Caroline Chen, Drew Armstrong and Simeon Bennett (8 July 2014). "AbbVie Raises Offer for Shire to $51.5 Billion". Bloomberg. 
  29. ^ Simeon Bennett and Caroline Chen (19 July 2014). "AbbVie Is Biggest to Quit U.S. Address in $55 Billion Shire Deal". Bloomberg. 
  30. ^ Albertina Torsoli, Kristen Hallam and Oliver Staley (15 October 2014). "AbbVie Reconsidering Shire Sends Inversion Targets Down". Bloomberg. 
  31. ^ Albertina Torsoli, Manuel Baigorri and Matthew Campbell (16 October 2014). "AbbVie Board Recommends Holders Vote Against Shire Deal". Bloomberg. 
  32. ^ Albertina Torsoli, Manuel Baigorri and Matthew Campbell (16 October 2014). "Shire Shares Extend Drop After AbbVie Backtracks on Deal". Bloomberg. 
  33. ^ Philippidis, Alex (21 October 2014). "AbbVie, Shire Call Off $51.7B Merger". GEN News Highlights. Gen. Eng. Biotechnol. News. 
  34. ^ Hoffman, Liz (20 October 2014). "Paulson Urges Allergan/Shire Tie-up". MoneyBeat. The Wall Street Journal. 
  35. ^ "GEN - News Highlights:ArmaGen Licenses AGT-182 Rights to Shire for Up to $225M". GEN. 
  36. ^ "Shire delivers fresh blow to UK life sciences". Financial Times. 10 November 2013. Retrieved 8 December 2013. 
  37. ^ Shire moves to Ireland for tax Irish Examiner, April 2008
  38. ^ "Board of Directors". Shire. Retrieved 13 February 2015. [self-published source?]
  39. ^ Bennett, Simeon (10 June 2013). "Shire’s New CEO Adds Sales Staff, Damps Takeover Talk". Bloomberg Business News. 
  40. ^ "Executive Leadership Committee". Shire. Retrieved 13 February 2015. [self-published source?]
  41. ^ Minkoff, Yoel (20 October 2014). "Shire CFO calls it quits". Seeking Alpha (United States). 

External links[edit]