 | |
| Company type | Subsidiary[1] |
|---|---|
| Nasdaq: SHPG | |
| ISIN | JE00B2QKY057 |
| Industry | Pharmaceuticals |
| Predecessor | Shire Pharmaceuticals Group Plc |
| Founded | 1986 (1986) |
| Defunct | 2019; 6 years ago (2019) |
| Fate | Acquired byTakeda |
| Headquarters | Massachusetts,United States[2][3] |
Key people | Flemming Ornskov (CEO) Thomas Dittrich (CFO) |
| Revenue | $15,160.6 million (2017)[4] |
| $2,455.2 million (2017)[4] | |
| $4,271.5 million (2017)[4] | |
Number of employees | 23,044 (2018)[5] |
| Parent | Takeda Pharmaceutical Company (2019) |
| Website | www.shire.com |
Shire plc was aUK-foundedJersey-registered specialty biopharmaceutical company. Originating in theUnited Kingdom with an operational base in the United States, its brands and products includedVyvanse,Lialda, andAdderall XR. Shire was acquired byTakeda Pharmaceutical Company on 8 January 2019.
Shire was a globalbiotechnology company focused on serving people with rare diseases and other highly specialized conditions. The company's products were available in more than 100 countries across core therapeutic areas includingHematology,Immunology,Neuroscience,Lysosomal Storage Disorders,Gastrointestinal /Internal Medicine / Endocrine and Hereditary Angioedema; a growing franchise in Oncology; and an emerging, innovative pipeline inOphthalmics.
The original corporate headquarters was located inBasingstoke, Hampshire, England. Main offices are located inDublin, Ireland, the United States inCambridge, Massachusetts, andChicago, Illinois, and inZug, Switzerland. In addition, Shire owns manufacturing sites inLexington, Massachusetts, andSocial Circle, Georgia. Shire's headquarters in Lexington, Massachusetts, will be integrated with Takeda's new U.S. headquarters, which is being relocated fromDeerfield, Illinois, to the Boston area.
Shire was founded in 1986 in the UK by five entrepreneurs:Harry Stratford, Dennis Stephens, Peter Moriarty, Geoff Hall and Dr Jim Murray.[6] Under the management ofRolf Stahel, Shire was first listed on theLondon Stock Exchange in 1996. Shire's initial products were calcium supplements (Calcichew-D3) for patients seeking to treat or preventosteoporosis. In 1997 the company acquired Pharmavene for £105 million in order to access Pharmavene's drug delivery methods.[7] Later in the same year Shire acquired Richwood Pharmaceutical Company, forming Shire-Richwood Inc.[8]
In 2001 the company acquired Biochem Canada.[9] Shire's next acquisition didn't come until 2005 when it acquired Transkaryotic Therapeutics[10] and two years later – in 2007 – New River Pharmaceuticals Inc, for a then company record of $2.6 billion.[11] With the purchase of New River, Shire gained access and ownership ofVyvanse. A year later the company acquired the German companyJerini, for $521 million. Jerini focused on treatinghereditary angioedema.[12]
In 2008, in reaction to new taxation measures announced by the UK government in the treatment of royalties on patents, the company moved its tax domicile toDublin, Ireland.[13]
2010 saw a change in company strategy, with the company seeking to expand through mergers and acquisitions - culminating in the company becoming one of the most acquisitive in the industry. In 2010 the company acquiredMovetis, aBelgian company focusing on gastrointestinal products for $565 million,[14] a year later it acquiredregenerative medicine manufacturer Advanced BioHealing.[15] In 2012 the company acquired FerroKin BioSciences for $325 million along with FerroKins lead iron chelator - FBS0701.[16] 2013 saw the company complete its highest number of acquisitions with Lotus Tissue Repair, Inc. (lead compound, ABH001),[17] SARcode Bioscience Inc.,[18] with the last beingViroPharma. Shire changed the name of ViroPharma to Shire Viropharma Inc. upon acquisition and on their final day of trading the company was valued at $3.3 billion.[19] At $4.2 billion, ViroPharma set a new company record.[20] In 2014 Shire acquired two rare disease drug companies: Fibrotech[21] with its antifibrotic compounds for $75 million, and Lumena, a company researching rare gastro-intestinal and hepatic compounds, for $260 million.[22]
In 2015, NPS Pharmaceuticals was acquired for $5.2 billion, bringing along its rare disease drugsGattex andNatpara.[23] On their final day of trading, NPS had a market capitalisation of $4.99 billion. The company also acquired, later in the same year, Meritage Pharma for $245 million, Foresight Biotherapeutics for $300 million[24] and Dyax for $6.5 billion.[25][26] The purchases bolstered Shires gastro-intestinal and rare disease sectors, with Phase-III-ready treatment -Budesonide - for the treatment ofeosinophilic esophagitis. As well as expanding the company's pipeline with a late-stage treatment candidate for infectious conjunctivitis with lead candidate FST-100 and increasing the company's rare disease catalogue with Dyax's portfolio of plasmakallikrein inhibitors against hereditaryangioedema (led by the approved drugKalbitor and the Phase III DX-2930). In January 2016, the company made its most significant purchase, with the $32 billion acquisition ofBaxalta (which had beenspun-off fromBaxter the previous year[27]), creating the largest global biotech company focused solely on rare diseases.[28]
In April 2018, Shire agreed to sell its oncology business toFrench pharmaceutical companyServierfor £1.7billion.[29]
On 20 June 2014, Shire rejected a takeover attempt byAbbVie. AbbVie offered £46.11 per share (£27.3 billion or $46.5 billion in total).[30] On 8 July, the offer was increased to $51.5 billion.[31] On 18 July, it was announced that AbbVie would acquire Shire for $54.8 billion.[32] On 15 October, news broke suggesting AbbVie was reconsidering their proposed takeover deal due to changes in US "Tax Inversion" law[33] and on 16 October AbbVie's board recommended that shareholders vote against the deal.[34] This news sent Shire's share price down over 27%; however, AbbVie would be subject to a $1.6 billion break-up fee, payable to Shire.[35] On 21 October, the merger was called off.[36]
In April 2018, reported thatTakeda Pharmaceutical Company had an approach to acquire Shire. Days later Shire announced they had rejected all three Takeda bids. The first bid valued the business at £41 billion (£28 per Shire shares paid in Takeda shares plus £16 per share in cash), the second £43 billion (£28.75 per Shire shares paid in Takeda shares plus £16.75 per share in cash) and the third £44 billion (£28 per Shire shares paid in Takeda shares plus £17.75 per share in cash).[37] Reuters also reported interest fromAllergan[38] however they ruled themselves out a day later.[39] A day later Takeda increased their offer with a fourth bid, to £26 per Shire shares paid in Takeda shares plus £21 per share in cash - giving a total value of £44.3 billion ($62.1 billion).[40] On 24 April, Takeda submitted an enhanced fifth bid for the company.[41] On 25 April, Shire said that they will recommend the revised £45.8 billion ($64 billion) offer to their shareholders. The enhanced offer included a more generous cash component, with the deal offering £21.76 ($30.33) in cash for each Shire ordinary share.[42][43][44] The same day,GlaxoSmithKline ruled out making any form of counter-bid.[45] On 8 May 2018, an agreement was finally reached in which Shire was sold toTakeda in a $62 billion deal.[46][47] Takeda's acquisition of Shire closed on 8 January 2019.[48]
The Annual Revenue figures in the following table were drawn from the company's 2015 preliminary results.[49]
| Name | Annual revenue | Indication |
|---|---|---|
| Vyvanse | $1,722M | Attention deficit hyperactivity disorder (ADHD) |
| Lialda/Mezavant | $684M | Gastrointestinal (ulcerative colitis) |
| Cinryze | $618M | Swelling attacks in children |
| Gattex/Revestive &Natpara | $166M | Short Bowel Syndrome (SBS) &hypocalcemia in patients withhypoparathyroidism |
| Firazyr | $445M | Hereditary angioedema |
| Replagal | $441M | Fabry Disease (α-galactosidase A deficiency) |
| Adderall XR | $362M | Attention deficit hyperactivity disorder (ADHD) |
| Vpriv | $342M | Type 1Gaucher disease |
In July 2014, Shire licensed the rights to the investigational Hunter syndrome compound, AGT-182, from ArmaGen for up to $225 million.[50]
The Annual Revenue figures in the following Table were drawn from the company's 2015 preliminary results.[49]
| Name | Annual revenue | Indication | Licensee |
|---|---|---|---|
| Adderall XR | $70.3M | Attention deficit hyperactivity disorder (ADHD) | Impax and Teva |
| 3TC (Lamivudine) andZeffix (Lamivudine) | $91.6M | HIV andChronic hepatitis B | GlaxoSmithKline |
| Fosrenol | $53.3M | Renal disease | Bayer Yakuhin |
| Other | $26.4M |
Flemming Ørnskov, was the company'schief executive officer through 8 January 2019 with Takeda's acquisition of Shire.[51] Ginger Gregory as chiefhuman resources officer, Jeffrey Poulton asCFO, and Philip Vickers as head ofR&D.[52] James Bowling vacated his position as interim CFO in the aftermath of the collapse of the AbbVie inversion deal.[53] The chair of Shire's board of directors was Susan Kilsby.[54]
In September 2014, Shire reached a $56.5 million settlement with theU.S. Department of Justice for alleged violations of theFalse Claims Act. The Justice Department alleged that Shire had improperly marketed and promoted Adderall XR, Daytrana, Vyvane, Pentasa, and Lialda during various periods between 2004 and 2010. The allegations included claims that Shire had made exaggerated and false statements regarding product safety, promoted medications for non-FDA approved off-label use, and marketed products on unsubstantiated claims of beneficial side effects, including reductions in criminality, traffic accidents,sexually transmitted infections, and divorce rates.[55][56][57]
In August 2017, Shire reached a $350 million settlement with the Department of Justice for violations of the same act, regarding the unlawful promotion of Shire's product Dermagraft.[58][59]
{{cite web}}:|author= has generic name (help){{cite news}}:|author= has generic name (help)| International | |
|---|---|
| National | |
