Shire (pharmaceutical company)

Source: Wikipedia, the free encyclopedia.
For other uses, see Shire (disambiguation).

Shire plc
PredecessorShire Pharmaceuticals Group Plc
Founded1986 (1986)
Defunct2019; 5 years ago (2019)
FateAcquired by Takeda
HeadquartersMassachusetts,
Parent
Takeda Pharmaceutical Company (2019)
Websitewww.shire.com

Shire plc was a

Adderall XR. Shire was acquired by Takeda Pharmaceutical Company
on 8 January 2019.

Shire was a global

Lysosomal Storage Disorders, Gastrointestinal / Internal Medicine / Endocrine and Hereditary Angioedema; a growing franchise in Oncology; and an emerging, innovative pipeline in Ophthalmics
.

The original corporate headquarters was located in Basingstoke, Hampshire, England. Main offices are located in Dublin, Ireland, the United States in Cambridge, Massachusetts, and Chicago, Illinois, and in Zug, Switzerland. In addition, Shire owns manufacturing sites in Lexington, Massachusetts, and Social Circle, Georgia. Shire's headquarters in Lexington, Massachusetts, will be integrated with Takeda's new U.S. headquarters, which is being relocated from Deerfield, Illinois, to the Boston area.

History

Early history

Location in Lexington, Massachusetts, US

Shire was founded in 1986 in the UK by five entrepreneurs:

Calcichew-D3) for patients seeking to treat or prevent osteoporosis. 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]

2000 to 2009

In 2001 the company acquired Biochem Canada.

Vyvanse. A year later the company acquired the German company Jerini, for $521 million. Jerini focused on treating hereditary 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 to Dublin, Ireland.[13]

2010 onwards

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 acquired Movetis, a Belgian company focusing on gastrointestinal products for $565 million,[14] a year later it acquired regenerative 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 being ViroPharma. 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 drugs

Kalbitor and the Phase III DX-2930). In January 2016, the company made its most significant purchase, with the $32 billion acquisition of Baxalta (which had been spun-off from Baxter 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 to French pharmaceutical company Servier for £1.7billion.[29]

Aborted AbbVie takeover

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).[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]

Takeda takeover

In April 2018, reported that

GlaxoSmithKline ruled out making any form of counter-bid.[45] On 8 May 2018, an agreement was finally reached in which Shire was sold to Takeda in a $62 billion deal.[46][47] Takeda's acquisition of Shire closed on 8 January 2019.[48]

Acquisition history

Shire Plc Acquisitions

Products

The Annual Revenue figures in the following table were drawn from the company's 2015 preliminary results.[49]

A container of Adderall XR
Name Annual revenue Indication
Vyvanse
 $1,722M Attention deficit hyperactivity disorder (ADHD)
Lialda
/Mezavant 		$684M
Gastrointestinal (ulcerative colitis
)
Cinryze
 $618M Swelling attacks in children
Natpara
 $166M Short Bowel Syndrome (SBS) & hypocalcemia in patients with hypoparathyroidism
Firazyr
 $445M Hereditary angioedema
Replagal $441M Fabry Disease (α-galactosidase A deficiency)
Adderall XR $362M Attention deficit hyperactivity disorder (ADHD)
Vpriv $342M Type 1
Gaucher disease

Licences & Royalties

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) and Zeffix (Lamivudine) $91.6M
Chronic hepatitis B
GlaxoSmithKline
Fosrenol
 $53.3M
Renal disease
 Bayer Yakuhin
Other $26.4M

Corporate leadership

Flemming Ørnskov, was the company's chief executive officer through 8 January 2019 with Takeda's acquisition of Shire.[51] Ginger Gregory as chief human resources officer, Jeffrey Poulton as CFO, and Philip Vickers as head of R&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]

Legal issues

False Claims Act violations

In September 2014, Shire reached a $56.5 million settlement with the

sexually transmitted infections, and divorce rates.[55][56][57]

Illegal promotion of Dermagraft

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]

See also

References

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  2. ^ DeAngelis, Allison (7 January 2019). "Takeda closes $62B purchase of Shire, creating largest Mass. biotech employer". Boston Business Journal. Archived from the original on 28 February 2022. Retrieved 24 February 2021.
  3. ^ "Contact us | Takeda Pharmaceuticals U.S.A., Inc". Archived from the original on 25 February 2021. Retrieved 24 February 2021.
  4. ^ a b c "Preliminary Results 2017" (PDF). Shire. Archived (PDF) from the original on 17 March 2018. Retrieved 17 March 2018.
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  7. ^ Grimond, Magnus (26 February 1997). "Shire buys US drugs delivery firm for pounds 105m". The Independent. Archived from the original on 4 March 2016. Retrieved 22 March 2016.
  8. ^ Grimond, Magnus (4 August 1997). "Investment Column: Shire focuses on buying Richwood". The Independent. Archived from the original on 5 March 2016. Retrieved 22 March 2016.
  9. ^ Dunne, Helen (10 May 2001). "Canadians give go-ahead for Shire takeover of BioChem". Telegraph.co.uk. Archived from the original on 28 February 2016. Retrieved 22 March 2016.
  10. ^ "Shire to Buy Transkaryotic Therapies for $1.6 Billion". FDA News. 29 April 2005. Retrieved 17 April 2022.
  11. ^ "Shire buys New River Pharmaceuticals for $2.6 billion". pharmatimes.com. Archived from the original on 10 March 2016. Retrieved 22 March 2016.
  12. ^ "Shire to buy Jerini in $521M deal". FierceBiotech. 3 July 2008. Archived from the original on 6 April 2016. Retrieved 22 March 2016.
  13. ^ Shire moves to Ireland for tax Archived 26 May 2013 at the Wayback Machine Irish Examiner, April 2008
  14. ^ "Shire forges $565M buyout deal for Movetis". FierceBiotech. 3 August 2010. Archived from the original on 4 March 2016. Retrieved 22 March 2016.
  15. ^ Grogan, Kevin (18 May 2011). "Shire swoops to buy Advanced BioHealing". pharmatimes.com. Archived from the original on 7 March 2016. Retrieved 22 March 2016.
  16. ^ Reuters Editorial (15 March 2012). "Shire to buy U.S. biotech firm for up to $325 million". Reuters. Archived from the original on 8 March 2016. Retrieved 22 March 2016. {{cite web}}: |author= has generic name (help)
  17. ^ "Shire Acquires Lotus Tissue Repair". GEN. 8 January 2013. Archived from the original on 13 April 2016. Retrieved 26 March 2016.
  18. ^ "Shire to Buy Eye-Drug Maker SARcode for $160 Million". Bloomberg.com. Bloomberg. 25 March 2013. Archived from the original on 7 April 2016. Retrieved 26 March 2016.
  19. ^ "Shire Buys ViroPharma for $4.2 Billion to Add Orphan Drug". Bloomberg.com. Bloomberg. 11 November 2013. Archived from the original on 19 March 2016. Retrieved 26 March 2016.
  20. ^ Trista Kelley & Makiko Kitamura (11 November 2013). "Shire Buys ViroPharma for $4.2 Billion to Add Orphan Drug". Bloomberg.com. Archived from the original on 11 January 2015. Retrieved 22 March 2016.
  21. ^ "Fibrotech acquired by Shire for US$75M plus milestones". FierceBiotech. May 2014. Archived from the original on 17 July 2014. Retrieved 23 September 2014.
  22. ^ "GEN - News Highlights:Shire Acquires Lumena for $260M+". GEN. 12 May 2014. Archived from the original on 2 June 2014. Retrieved 2 June 2014.
  23. ^ "UK drug firm Shire to buy US rival in $5.2bn deal". BBC News. 11 January 2015. Archived from the original on 17 February 2016. Retrieved 22 March 2016.
  24. ^ "Shire Acquires Foresight Biotherapeutics for $300M". GEN. 3 August 2015. Archived from the original on 6 April 2016. Retrieved 22 March 2016.
  25. ^ "Dyax Corp. Announces Early Termination of Hart-Scott-Rodino Waiting Period - Business Wire". businesswire.com. 2 December 2015. Archived from the original on 4 March 2016. Retrieved 22 March 2016.
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  27. ^ "Baxter's Board of Directors Approves Separation of Baxalta and Declares Special Dividend of Baxalta Stock". investor.baxter.com. Baxter International Inc. Archived from the original on 6 May 2017. Retrieved 15 January 2017.
  28. ^ "Shire, Baxalta Tie the Knot in $32B Merger". GEN. 11 January 2016. Archived from the original on 20 March 2016. Retrieved 22 March 2016.
  29. ^ Javed, Ayesha (16 April 2018). "Shire sells oncology unit for £1.7bn as Takeda boss prepares potential bid". The Telegraph. Archived from the original on 16 April 2018. Retrieved 16 April 2018.
  30. ^ David Welch, Matthew Campbell & Simeon Bennett (21 June 2014). "AbbVie Said to Consider New Bid After Shire Rejects Offer". Bloomberg. Archived from the original on 12 January 2015. Retrieved 11 March 2017.
  31. ^ Caroline Chen, Drew Armstrong & Simeon Bennett (8 July 2014). "AbbVie Raises Offer for Shire to $51.5 Billion". Bloomberg. Archived from the original on 8 January 2015. Retrieved 11 March 2017.
  32. ^ Simeon Bennett & Caroline Chen (19 July 2014). "AbbVie Is Biggest to Quit U.S. Address in $55 Billion Shire Deal". Bloomberg. Archived from the original on 12 January 2015. Retrieved 11 March 2017.
  33. ^ Albertina Torsoli, Kristen Hallam & Oliver Staley (15 October 2014). "AbbVie Reconsidering Shire Sends Inversion Targets Down". Bloomberg. Archived from the original on 11 January 2015. Retrieved 11 March 2017.
  34. ^ Albertina Torsoli, Manuel Baigorri & Matthew Campbell (16 October 2014). "AbbVie Board Recommends Holders Vote Against Shire Deal". Bloomberg. Archived from the original on 12 January 2015. Retrieved 11 March 2017.
  35. ^ Albertina Torsoli, Manuel Baigorri & Matthew Campbell (16 October 2014). "Shire Shares Extend Drop After AbbVie Backtracks on Deal". Bloomberg. Archived from the original on 9 January 2015. Retrieved 11 March 2017.
  36. Gen. Eng. Biotechnol. News. Archived
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  37. ^ "Statement re Proposal from Takeda Pharmaceutical Company Limited". www.shire.com. Archived from the original on 20 April 2018. Retrieved 19 April 2018.
  38. ^ Roumeliotis, Greg (20 April 2018). "Shire rejects $63 billion Takeda bid as Allergan drops pursuit". Reuters. Archived from the original on 19 April 2018. Retrieved 19 April 2018.
  39. ^ Editorial, Reuters (19 April 2018). "Exclusive - Allergan in talks to acquire Shire, competing against..." Reuters. Archived from the original on 19 April 2018. Retrieved 19 April 2018. {{cite news}}: |first= has generic name (help)
  40. ^ Nussey, Sam (20 April 2018). "Japan's Takeda sweetens $62 billion Shire offer". Reuters. Archived from the original on 20 April 2018. Retrieved 20 April 2018.
  41. ^ Martin, Ben (25 April 2018). "Shire willing to back $64 billion Takeda bid, market signals doubts". Reuters. Archived from the original on 24 April 2018. Retrieved 24 April 2018.
  42. ^ "Shire backs Takeda's £46bn offer". BBC News. 25 April 2018. Archived from the original on 28 April 2018. Retrieved 22 June 2018.
  43. ^ Martin, Ben (25 April 2018). "Shire willing to back $64 billion Takeda bid, market signals doubts". Reuters. Archived from the original on 25 April 2018. Retrieved 25 April 2018.
  44. ^ Nussey, Sam (25 April 2018). "Shire bid marks Takeda's latest - and biggest - push for global status". Reuters. Archived from the original on 25 April 2018. Retrieved 25 April 2018.
  45. ^ Editorial, Reuters (25 April 2018). "GSK rules out entering Shire takeover battle". Reuters. Archived from the original on 25 April 2018. Retrieved 25 April 2018. {{cite news}}: |first= has generic name (help)
  46. ^ "Takeda Clinches $62 Billion Deal to Buy Drugmaker Shire". Bloomberg.com. Archived from the original on 8 May 2018. Retrieved 8 May 2018.
  47. ^ Reuters Editorial. "Japan's Takeda agrees $62 billion takeover of Shire". U.S. Archived from the original on 8 May 2018. Retrieved 8 May 2018. {{cite news}}: |author= has generic name (help)
  48. ^ "Takeda completes Shire acquisition". Pharma Times. 8 January 2019. Archived from the original on 11 January 2019. Retrieved 24 January 2019.
  49. ^ a b "Preliminary Results 2015" (PDF). Shire. Archived (PDF) from the original on 6 April 2016. Retrieved 26 March 2016.
  50. ^ "GEN - News Highlights:ArmaGen Licenses AGT-182 Rights to Shire for Up to $225M". GEN. 23 July 2014. Archived from the original on 27 July 2014. Retrieved 24 July 2014.
  51. Bloomberg Business News. Archived
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  52. ^ Shire Staff (22 March 2016). "Leadership: Executive Committee". Shire. Archived from the original on 15 June 2015. Retrieved 13 February 2015.
  53. ^ Schaps, Karolin & Hirschler, Ben (20 October 2014). "Shire CFO to leave drugmaker as AbbVie drops bid". Reuters. Archived from the original on 4 April 2016. Retrieved 22 March 2016.
  54. ^ Shire Staff (22 March 2016). "Leadership: Board of Directors". Shire. Archived from the original on 25 March 2016. Retrieved 22 March 2016.
  55. ^ "Shire Pays $56.5M to Settle False-Claims Whistleblower Suit". Genetic Engineering & Biotechnology News. 25 September 2014. Archived from the original on 27 November 2021. Retrieved 27 November 2021.
  56. ^ "Shire Pharmaceuticals LLC to Pay $56.5 Million to Resolve False Claims Act Allegations Relating to Drug Marketing and Promotion Practices". The United States Department of Justice. Office of Public Affairs. 24 September 2014. Archived from the original on 27 November 2021. Retrieved 27 November 2021.
  57. ^ "Adderall Maker to Pay $56.5 Million to Resolve False Claims Charge". Corporate Crime Reporter. 25 September 2014. Archived from the original on 27 November 2021. Retrieved 27 November 2021.
  58. ^ "Pharmaceutical company agrees to 'landmark' settlement in Tampa federal court". The Business Journals. Archived from the original on 14 January 2017. Retrieved 27 November 2021.
  59. ^ "U.S. says Shire subsidiaries to pay $350 million to settle false claims act allegations". Reuters. 11 January 2017. Archived from the original on 27 November 2021. Retrieved 27 November 2021.

External links

  • Official website
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