Shire (pharmaceutical company)

{{short description|British pharmaceutical company}} {{Other uses|Shire (disambiguation)}} {{Use British English|date=February 2016}} {{Use dmy dates|date=October 2019}} {{Infobox company | name = Shire plc | predecessor = Shire Pharmaceuticals Group Plc | logo = Shire logo.svg | image = | image_size = | image_caption = | type = [[Subsidiary]]<ref>{{Cite web|url = https://www.japantimes.co.jp/news/2019/01/08/business/corporate-business/takeda-completes-buyout-shire-become-top-10-global-pharmaceutical-firm/|title = Takeda completes buyout of Shire to become top 10 global pharmaceutical firm|date = 8 January 2019|access-date = 22 February 2021|archive-date = 26 February 2021|archive-url = https://web.archive.org/web/20210226072400/https://www.japantimes.co.jp/news/2019/01/08/business/corporate-business/takeda-completes-buyout-shire-become-top-10-global-pharmaceutical-firm/|url-status = live}}</ref> | traded_as = {{NASDAQ was|SHPG}} | ISIN = {{ISIN|sl=n|pl=y|JE00B2QKY057}} | foundation = {{start date|1986}} | defunct = {{End date and age|2019}} | fate = Acquired by [[Takeda Pharmaceutical Company|Takeda]] | industry = [[Pharmaceutical drug|Pharmaceuticals]] | key_people = Flemming Ornskov ([[CEO]]) Thomas Dittrich ([[CFO]]) | location =[[Massachusetts]], [[United States]]<ref>{{cite web |url=https://www.bizjournals.com/boston/news/2019/01/07/takeda-closes-62b-purchase-of-shire-creating.html |title=Takeda closes $62B purchase of Shire, creating largest Mass. biotech employer |first=Allison |last=DeAngelis |work=Boston Business Journal |date=January 7, 2019 |access-date=24 February 2021 |archive-date=28 February 2022 |archive-url=https://web.archive.org/web/20220228190658/https://www.bizjournals.com/boston/news/2019/01/07/takeda-closes-62b-purchase-of-shire-creating.html |url-status=live }}</ref><ref>{{Cite web|url=https://www.takeda.com/en-us/who-we-are/contact-us/|title=Contact us | Takeda Pharmaceuticals U.S.A., Inc|access-date=24 February 2021|archive-date=25 February 2021|archive-url=https://web.archive.org/web/20210225113031/https://www.takeda.com/en-us/who-we-are/contact-us|url-status=live}}</ref> | products = | revenue = [[Dollar|$]]15,160.6 million (2017)<ref name=prelims>{{cite web|url=https://www.shire.com/-/media/shire/shireglobal/shirecom/pdffiles/newsroom/2018/full-year-2017-results.pdf|title=Preliminary Results 2017|publisher=Shire|access-date=17 March 2018|archive-date=17 March 2018|archive-url=https://web.archive.org/web/20180317165148/https://www.shire.com/-/media/shire/shireglobal/shirecom/pdffiles/newsroom/2018/full-year-2017-results.pdf|url-status=live}}</ref> | operating_income = [[Dollar|$]]2,455.2 million (2017)<ref name=prelims/> | net_income = [[Dollar|$]]4,271.5 million (2017)<ref name=prelims/> | num_employees = 23,044 (2018)<ref>{{cite web|url=https://craft.co/shire|title=Shire Company Profile|work=craft.co|access-date=8 October 2019|archive-date=8 October 2019|archive-url=https://web.archive.org/web/20191008095349/https://craft.co/shire|url-status=live}}</ref> | parent = [[Takeda Pharmaceutical Company]] (2019) | subsid = | homepage = [http://www.shire.com www.shire.com] | footnotes = }}

'''Shire plc''' was a [[UK]]-founded [[Jersey]]-registered specialty biopharmaceutical company. Originating in the [[United Kingdom]] with an operational base in the United States, its brands and products included [[Vyvanse]], [[Lialda]], and [[Adderall XR]]. Shire was acquired by [[Takeda Pharmaceutical Company]] on 8 January 2019.

Shire was a global [[biotechnology]] company focused on serving people with rare diseases and other highly specialized conditions. The company's products were available in 100+ countries across core therapeutic areas including [[Hematology]], [[Immunology]], [[Neuroscience]], [[Lysosomal storage disorders|Lysosomal Storage Disorders]], [[Gastrointestinal disease|Gastrointestinal]] / [[Internal medicine|Internal Medicine]] / Endocrine and Hereditary Angioedema; a growing franchise in Oncology; and an emerging pipeline in [[Ophthalmic Surgery, Lasers and Imaging Retina|Ophthalmics]].

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

==History== ===Early history=== [[File:Shire location in Lexington MA.jpg|thumb|right|Location in [[Lexington, Massachusetts|Lexington]], Massachusetts, [[United States|US]]]] Shire was founded in 1986 in the UK by five entrepreneurs: [[Harry Stratford]], Dennis Stephens, Peter Moriarty, Geoff Hall and Dr Jim Murray.<ref>{{cite web|url=http://www.thesundaytimes.co.uk/sto/business/Industry/article830604.ece|archive-url=https://web.archive.org/web/20160406171245/http://www.thesundaytimes.co.uk/sto/business/Industry/article830604.ece|url-status=dead|archive-date=6 April 2016|title=Shire is one of the big stars|publisher=Sunday Times|date=27 November 2011|access-date=26 March 2016}}</ref> Under the management of [[Rolf Stahel]], Shire was first listed on the [[London Stock Exchange]] in 1996. Shire's initial products were calcium supplements ([[Calcichew-D3|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.<ref>{{cite web|url=https://www.independent.co.uk/news/business/shire-buys-us-drugs-delivery-firm-for-pounds-105m-1280736.html|title=Shire buys US drugs delivery firm for pounds 105m|author=Grimond, Magnus|date=1997-02-26|work=The Independent|access-date=22 March 2016|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304195656/http://www.independent.co.uk/news/business/shire-buys-us-drugs-delivery-firm-for-pounds-105m-1280736.html|url-status=live}}</ref> Later in the same year Shire acquired Richwood Pharmaceutical Company, forming Shire-Richwood Inc.<ref>{{cite web|url=https://www.independent.co.uk/news/business/investment-column-shire-focuses-on-buying-richwood-1243915.html|title=Investment Column: Shire focuses on buying Richwood|author=Grimond, Magnus|date=1997-08-04|work=The Independent|access-date=22 March 2016|archive-date=5 March 2016|archive-url=https://web.archive.org/web/20160305002411/http://www.independent.co.uk/news/business/investment-column-shire-focuses-on-buying-richwood-1243915.html|url-status=live}}</ref>

===2000 to 2009=== In 2001 the company acquired Biochem Canada.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/2717558/Canadians-give-go-ahead-for-Shire-takeover-of-BioChem.html|title=Canadians give go-ahead for Shire takeover of BioChem|author=Dunne, Helen|date=2001-05-10|work=Telegraph.co.uk|access-date=22 March 2016|archive-date=28 February 2016|archive-url=https://web.archive.org/web/20160228075658/http://www.telegraph.co.uk/finance/2717558/Canadians-give-go-ahead-for-Shire-takeover-of-BioChem.html|url-status=live}}</ref> Shire's next acquisition didn't come until 2005 when it acquired Transkaryotic Therapeutics<ref>{{cite news|url=https://www.fdanews.com/articles/71742-shire-to-buy-transkaryotic-therapies-for-1-6-billion|title=Shire to Buy Transkaryotic Therapies for $1.6 Billion|date=29 April 2005|newspaper=FDA News|access-date=17 April 2022}}</ref> and two years later – in 2007 – New River Pharmaceuticals Inc, for a then company record of $2.6 billion.<ref>{{cite web|url=http://www.pharmatimes.com/mobile/07-02-21/Shire_buys_New_River_Pharmaceuticals_for_2_6_billion.aspx|title=Shire buys New River Pharmaceuticals for $2.6 billion|work=pharmatimes.com|access-date=22 March 2016|archive-url=https://web.archive.org/web/20160310141245/http://pharmatimes.com/mobile/07-02-21/shire_buys_new_river_pharmaceuticals_for_2_6_billion.aspx|archive-date=10 March 2016|url-status=dead|df=dmy-all}}</ref> With the purchase of New River, Shire gained access and ownership of [[Vyvanse]]. A year later the company acquired the German company [[Jerini]], for $521 million. Jerini focused on treating [[hereditary angioedema]].<ref>{{cite web|url=http://www.fiercebiotech.com/story/shire-buy-jerini-521m-deal/2008-07-03|title=Shire to buy Jerini in $521M deal|work=FierceBiotech|date=3 July 2008 |access-date=22 March 2016|archive-date=6 April 2016|archive-url=https://web.archive.org/web/20160406121213/http://www.fiercebiotech.com/story/shire-buy-jerini-521m-deal/2008-07-03|url-status=live}}</ref>

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.<ref>[https://www.irishexaminer.com/sport/racing/arid-10060386.html Shire moves to Ireland for tax] Irish Examiner, April 2008</ref>

=== 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 [[Belgians|Belgian]] company focusing on gastrointestinal products for $565 million,<ref>{{cite web|url=http://www.fiercebiotech.com/story/shire-forges-565m-buyout-deal-movetis/2010-08-03|title=Shire forges $565M buyout deal for Movetis|work=FierceBiotech|date=3 August 2010 |access-date=22 March 2016|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304060231/http://www.fiercebiotech.com/story/shire-forges-565m-buyout-deal-movetis/2010-08-03|url-status=live}}</ref> a year later it acquired [[regenerative medicine]] manufacturer Advanced BioHealing.<ref>{{cite web | author = Grogan, Kevin | date = 2011-05-18 | title = Shire swoops to buy Advanced BioHealing | url = http://www.pharmatimes.com/article/11-05-18/Shire_swoops_to_buy_Advanced_BioHealing.aspx | work = pharmatimes.com | access-date = 22 March 2016 | archive-url = https://web.archive.org/web/20160307081033/http://pharmatimes.com/article/11-05-18/shire_swoops_to_buy_advanced_biohealing.aspx | archive-date = 7 March 2016 | url-status = dead | df = dmy-all }}</ref> In 2012 the company acquired FerroKin BioSciences for $325 million along with FerroKins lead iron chelator - FBS0701.<ref>{{cite web|url=https://www.reuters.com/article/us-shire-idUSBRE82E0K520120315|title=Shire to buy U.S. biotech firm for up to $325 million|author=Reuters Editorial|date=15 March 2012|work=Reuters|access-date=22 March 2016|archive-date=8 March 2016|archive-url=https://web.archive.org/web/20160308084150/http://www.reuters.com/article/us-shire-idUSBRE82E0K520120315|url-status=live}}</ref> 2013 saw the company complete its highest number of acquisitions with Lotus Tissue Repair, Inc. (lead compound, ABH001),<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/shire-acquires-lotus-tissue-repair/81247840/|title=Shire Acquires Lotus Tissue Repair|date=8 January 2013|publisher=GEN|access-date=26 March 2016|archive-date=13 April 2016|archive-url=https://web.archive.org/web/20160413005551/http://www.genengnews.com/gen-news-highlights/shire-acquires-lotus-tissue-repair/81247840/|url-status=live}}</ref> SARcode Bioscience Inc.,<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2013-03-25/shire-to-buy-eye-drug-maker-sarcode-for-160-million|title=Shire to Buy Eye-Drug Maker SARcode for $160 Million|newspaper=Bloomberg.com|date=25 March 2013|publisher=Bloomberg|access-date=26 March 2016|archive-date=7 April 2016|archive-url=https://web.archive.org/web/20160407162525/http://www.bloomberg.com/news/articles/2013-03-25/shire-to-buy-eye-drug-maker-sarcode-for-160-million|url-status=live}}</ref> 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.<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2013-11-11/shire-agrees-to-buy-viropharma-for-about-4-2-billion-1-|title=Shire Buys ViroPharma for $4.2 Billion to Add Orphan Drug|newspaper=Bloomberg.com|date=11 November 2013|publisher=Bloomberg|access-date=26 March 2016|archive-date=19 March 2016|archive-url=https://web.archive.org/web/20160319154957/http://www.bloomberg.com/news/articles/2013-11-11/shire-agrees-to-buy-viropharma-for-about-4-2-billion-1-|url-status=live}}</ref> At $4.2 billion, ViroPharma set a new company record.<ref>{{cite news|url=https://www.bloomberg.com/news/2013-11-11/shire-agrees-to-buy-viropharma-for-about-4-2-billion-1-.html|title=Shire Buys ViroPharma for $4.2 Billion to Add Orphan Drug|author1=Trista Kelley|author2=Makiko Kitamura|name-list-style=amp|date=11 November 2013|work=Bloomberg.com|access-date=22 March 2016|archive-date=11 January 2015|archive-url=https://web.archive.org/web/20150111154751/http://www.bloomberg.com/news/2013-11-11/shire-agrees-to-buy-viropharma-for-about-4-2-billion-1-.html|url-status=live}}</ref> In 2014 Shire acquired two rare disease drug companies: Fibrotech<ref>{{cite web|url=http://www.fiercebiotech.com/press-releases/fibrotech-acquired-shire-us75m-plus-milestones|title=Fibrotech acquired by Shire for US$75M plus milestones|work=FierceBiotech|date=May 2014 |access-date=23 September 2014|archive-date=17 July 2014|archive-url=https://web.archive.org/web/20140717045105/http://www.fiercebiotech.com/press-releases/fibrotech-acquired-shire-us75m-plus-milestones|url-status=live}}</ref> with its antifibrotic compounds for $75 million, and Lumena, a company researching rare gastro-intestinal and hepatic compounds, for $260 million.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/shire-acquires-lumena-for-260m/81249851/|title=GEN - News Highlights:Shire Acquires Lumena for $260M+|work=GEN|date=12 May 2014|access-date=2 June 2014|archive-date=2 June 2014|archive-url=https://web.archive.org/web/20140602195942/http://www.genengnews.com/gen-news-highlights/shire-acquires-lumena-for-260m/81249851/|url-status=live}}</ref>

In 2015, NPS Pharmaceuticals was acquired for $5.2 billion, bringing along its rare disease drugs [[Gattex]] and [[Natpara]].<ref>{{cite news|url=https://www.bbc.co.uk/news/business-30772280|title=UK drug firm Shire to buy US rival in $5.2bn deal|work=BBC News|date=11 January 2015|access-date=22 March 2016|archive-date=17 February 2016|archive-url=https://web.archive.org/web/20160217172111/http://www.bbc.co.uk/news/business-30772280|url-status=live}}</ref> 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<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/shire-acquires-foresight-biotherapeutics-for-300m/81251584/|title=Shire Acquires Foresight Biotherapeutics for $300M|work=GEN|date=3 August 2015|access-date=22 March 2016|archive-date=6 April 2016|archive-url=https://web.archive.org/web/20160406063026/http://www.genengnews.com/gen-news-highlights/shire-acquires-foresight-biotherapeutics-for-300m/81251584|url-status=live}}</ref> and Dyax for $6.5 billion.<ref>{{cite web|url=http://www.businesswire.com/news/home/20151202006452/en/|title=Dyax Corp. Announces Early Termination of Hart-Scott-Rodino Waiting Period - Business Wire|date=2 December 2015|work=businesswire.com|access-date=22 March 2016|archive-date=4 March 2016|archive-url=https://web.archive.org/web/20160304103802/http://www.businesswire.com/news/home/20151202006452/en/|url-status=live}}</ref><ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/shire-to-acquire-dyax-for-up-to-6-5b/81251922|title=Shire to Acquire Dyax for Up to $6.5B|work=GEN|date=2 November 2015|access-date=22 March 2016|archive-date=19 March 2016|archive-url=https://web.archive.org/web/20160319231525/http://www.genengnews.com/gen-news-highlights/shire-to-acquire-dyax-for-up-to-6-5b/81251922/|url-status=live}}</ref> The purchases bolstered Shires gastro-intestinal and rare disease sectors, with Phase-III-ready treatment - [[Budesonide]] - for the treatment of [[eosinophilic 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 plasma [[kallikrein]] inhibitors against hereditary [[angioedema]] (led by the approved drug [[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 [[Corporate spin-off|spun-off]] from [[Baxter International|Baxter]] the previous year<ref>{{cite web|title=Baxter's Board of Directors Approves Separation of Baxalta and Declares Special Dividend of Baxalta Stock|url=http://investor.baxter.com/phoenix.zhtml?c=86121&p=irol-newsArticle&id=2056943|website=investor.baxter.com|publisher=Baxter International Inc.|access-date=15 January 2017|archive-date=6 May 2017|archive-url=https://web.archive.org/web/20170506115815/http://investor.baxter.com/phoenix.zhtml?c=86121&p=irol-newsArticle&ID=2056943|url-status=live}}</ref>), creating the largest global biotech company focused solely on rare diseases.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/shire-baxalta-tie-the-knot-in-32b-merger/81252213/|title=Shire, Baxalta Tie the Knot in $32B Merger|work=GEN|date=11 January 2016|access-date=22 March 2016|archive-date=20 March 2016|archive-url=https://web.archive.org/web/20160320140922/http://www.genengnews.com/gen-news-highlights/shire-baxalta-tie-the-knot-in-32b-merger/81252213/|url-status=live}}</ref>

In April 2018, Shire agreed to sell its oncology business to [[France|French]] pharmaceutical company [[Laboratoires Servier|Servier]] for £1.7billion.<ref>{{cite news|last1=Javed|first1=Ayesha|title=Shire sells oncology unit for £1.7bn as Takeda boss prepares potential bid|url=https://www.telegraph.co.uk/business/2018/04/16/shire-sells-oncology-unit-17bn-takeda-boss-prepares-potential/|access-date=16 April 2018|publisher=The Telegraph|date=16 April 2018|archive-date=16 April 2018|archive-url=https://web.archive.org/web/20180416104240/https://www.telegraph.co.uk/business/2018/04/16/shire-sells-oncology-unit-17bn-takeda-boss-prepares-potential/|url-status=live}}</ref>

====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).<ref>{{cite news|url=https://www.bloomberg.com/news/2014-06-20/abbvie-offered-46-5-billion-for-shire-as-bid-rejected.html|title=AbbVie Said to Consider New Bid After Shire Rejects Offer|author1=David Welch, Matthew Campbell|author2=Simeon Bennett|name-list-style=amp|date=21 June 2014|work=Bloomberg|access-date=11 March 2017|archive-date=12 January 2015|archive-url=https://web.archive.org/web/20150112093844/http://www.bloomberg.com/news/2014-06-20/abbvie-offered-46-5-billion-for-shire-as-bid-rejected.html|url-status=live}}</ref> On 8 July, the offer was increased to $51.5 billion.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-07-08/abbvie-raises-offer-for-shire-to-51-5-billion.html|title=AbbVie Raises Offer for Shire to $51.5 Billion|author1=Caroline Chen, Drew Armstrong|author2=Simeon Bennett|name-list-style=amp|date=8 July 2014|work=Bloomberg|access-date=11 March 2017|archive-date=8 January 2015|archive-url=https://web.archive.org/web/20150108135743/http://www.bloomberg.com/news/2014-07-08/abbvie-raises-offer-for-shire-to-51-5-billion.html|url-status=live}}</ref> On 18 July, it was announced that AbbVie would acquire Shire for $54.8 billion.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-07-18/abbvie-to-buy-shire-for-54-8-billion-as-drug-deals-surge.html|title=AbbVie Is Biggest to Quit U.S. Address in $55 Billion Shire Deal|author1=Simeon Bennett|author2=Caroline Chen|name-list-style=amp|date=19 July 2014|work=Bloomberg|access-date=11 March 2017|archive-date=12 January 2015|archive-url=https://web.archive.org/web/20150112093835/http://www.bloomberg.com/news/2014-07-18/abbvie-to-buy-shire-for-54-8-billion-as-drug-deals-surge.html|url-status=live}}</ref> On 15 October, news broke suggesting AbbVie was reconsidering their proposed takeover deal due to changes in US "Tax Inversion" law<ref>{{cite web|url=https://www.bloomberg.com/news/2014-10-15/abbvie-reconsidering-shire-sends-inversion-targets-down.html|title=AbbVie Reconsidering Shire Sends Inversion Targets Down|author1=Albertina Torsoli, Kristen Hallam|author2=Oliver Staley|name-list-style=amp|date=15 October 2014|work=Bloomberg|access-date=11 March 2017|archive-date=11 January 2015|archive-url=https://web.archive.org/web/20150111175627/http://www.bloomberg.com/news/2014-10-15/abbvie-reconsidering-shire-sends-inversion-targets-down.html|url-status=live}}</ref> and on 16 October AbbVie's board recommended that shareholders vote against the deal.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-10-15/abbvie-said-close-to-shire-reversal-as-tax-rules-change.html|title=AbbVie Board Recommends Holders Vote Against Shire Deal|author1=Albertina Torsoli, Manuel Baigorri|author2=Matthew Campbell|name-list-style=amp|date=16 October 2014|work=Bloomberg|access-date=11 March 2017|archive-date=12 January 2015|archive-url=https://web.archive.org/web/20150112225553/http://www.bloomberg.com/news/2014-10-15/abbvie-said-close-to-shire-reversal-as-tax-rules-change.html|url-status=live}}</ref> 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.<ref>{{cite web|url=https://www.bloomberg.com/news/2014-10-16/abbvie-board-recommends-holders-vote-against-shire-deal.html|title=Shire Shares Extend Drop After AbbVie Backtracks on Deal|author1=Albertina Torsoli, Manuel Baigorri|author2=Matthew Campbell|name-list-style=amp|date=16 October 2014|work=Bloomberg|access-date=11 March 2017|archive-date=9 January 2015|archive-url=https://web.archive.org/web/20150109225233/http://www.bloomberg.com/news/2014-10-16/abbvie-board-recommends-holders-vote-against-shire-deal.html|url-status=live}}</ref> On 21 October, the merger was called off.<ref>{{cite news | url=http://www.genengnews.com/gen-news-highlights/abbvie-shire-call-off-51-7b-merger/81250493/ | title=AbbVie, Shire Call Off $51.7B Merger | work=[[Gen. Eng. Biotechnol. News]] | department=GEN News Highlights | date=21 October 2014 | author=Philippidis, Alex | access-date=22 October 2014 | archive-date=24 October 2014 | archive-url=https://web.archive.org/web/20141024021248/http://www.genengnews.com/gen-news-highlights/abbvie-shire-call-off-51-7b-merger/81250493 | url-status=live }}</ref>

====Takeda takeover==== In April 2018, reported that [[Takeda 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).<ref>{{cite web|url=https://www.shire.com/en/newsroom/2018/april/mdt9go|title=Statement re Proposal from Takeda Pharmaceutical Company Limited|website=www.shire.com|access-date=19 April 2018|archive-date=20 April 2018|archive-url=https://web.archive.org/web/20180420060506/https://www.shire.com/en/newsroom/2018/april/mdt9go|url-status=live}}</ref> Reuters also reported interest from [[Allergan]]<ref>{{cite news|url=https://uk.reuters.com/article/us-shire-m-a-takeda-pharma-bid/allergan-moves-in-as-shire-rebuffs-63-billion-takeda-bid-sources-idUKKBN1HQ1PN|title=Shire rejects $63 billion Takeda bid as Allergan drops pursuit|first=Greg|last=Roumeliotis|newspaper=Reuters|date=20 April 2018|access-date=19 April 2018|archive-date=19 April 2018|archive-url=https://web.archive.org/web/20180419182753/https://uk.reuters.com/article/us-shire-m-a-takeda-pharma-bid/allergan-moves-in-as-shire-rebuffs-63-billion-takeda-bid-sources-idUKKBN1HQ1PN|url-status=dead}}</ref> however they ruled themselves out a day later.<ref>{{cite news|url=https://uk.reuters.com/article/uk-shire-m-a-allergan-exclusive/exclusive-allergan-in-talks-to-acquire-shire-competing-against-takeda-sources-idUKKBN1HQ218|title=Exclusive - Allergan in talks to acquire Shire, competing against...|newspaper=Reuters|date=19 April 2018|access-date=19 April 2018|archive-date=19 April 2018|archive-url=https://web.archive.org/web/20180419165610/https://uk.reuters.com/article/uk-shire-m-a-allergan-exclusive/exclusive-allergan-in-talks-to-acquire-shire-competing-against-takeda-sources-idUKKBN1HQ218|url-status=dead}}</ref> 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).<ref>{{cite news|url=https://uk.reuters.com/article/us-shire-m-a-takeda/japans-takeda-nudges-up-shire-offer-to-47-pounds-a-share-idUKKBN1HR00T|title=Japan's Takeda sweetens $62 billion Shire offer|first=Sam|last=Nussey|newspaper=Reuters|date=20 April 2018|access-date=20 April 2018|archive-date=20 April 2018|archive-url=https://web.archive.org/web/20180420183204/https://uk.reuters.com/article/us-shire-m-a-takeda/japans-takeda-nudges-up-shire-offer-to-47-pounds-a-share-idUKKBN1HR00T|url-status=dead}}</ref> On 24 April, Takeda submitted an enhanced fifth bid for the company.<ref>{{cite news|url=https://uk.reuters.com/article/uk-shire-m-a-takeda-pharma/shire-receives-new-bid-from-takeda-as-takeover-deadline-looms-idUKKBN1HV1FY|title=Shire willing to back $64 billion Takeda bid, market signals doubts|first=Ben|last=Martin|newspaper=Reuters|date=25 April 2018|access-date=24 April 2018|archive-date=24 April 2018|archive-url=https://web.archive.org/web/20180424144721/https://uk.reuters.com/article/uk-shire-m-a-takeda-pharma/shire-receives-new-bid-from-takeda-as-takeover-deadline-looms-idUKKBN1HV1FY|url-status=dead}}</ref> 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.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-43889437|title=Shire backs Takeda's £46bn offer|date=25 April 2018|work=BBC News|access-date=22 June 2018|archive-date=28 April 2018|archive-url=https://web.archive.org/web/20180428044659/http://www.bbc.co.uk/news/business-43889437|url-status=live}}</ref><ref>{{cite news|url=https://uk.reuters.com/article/uk-shire-m-a-takeda-pharma-deal-exclusiv/shire-willing-to-back-64-billion-takeda-bid-market-signals-doubts-idUKKBN1HV2OQ|title=Shire willing to back $64 billion Takeda bid, market signals doubts|first=Ben|last=Martin|newspaper=Reuters|date=25 April 2018|access-date=25 April 2018|archive-date=25 April 2018|archive-url=https://web.archive.org/web/20180425111811/https://uk.reuters.com/article/uk-shire-m-a-takeda-pharma-deal-exclusiv/shire-willing-to-back-64-billion-takeda-bid-market-signals-doubts-idUKKBN1HV2OQ|url-status=dead}}</ref><ref>{{cite news|url=https://uk.reuters.com/article/us-takeda-strategy-analysis/shire-bid-marks-takedas-latest-and-biggest-push-for-global-status-idUKKBN1HW11A|title=Shire bid marks Takeda's latest - and biggest - push for global status|first=Sam|last=Nussey|newspaper=Reuters|date=25 April 2018|access-date=25 April 2018|archive-date=25 April 2018|archive-url=https://web.archive.org/web/20180425154714/https://uk.reuters.com/article/us-takeda-strategy-analysis/shire-bid-marks-takedas-latest-and-biggest-push-for-global-status-idUKKBN1HW11A|url-status=dead}}</ref> The same day, [[GlaxoSmithKline]] ruled out making any form of counter-bid.<ref>{{cite news|url=https://uk.reuters.com/article/us-shire-m-a-takeda-pharma-gsk/gsk-rules-out-entering-shire-takeover-battle-idUKKBN1HW1JT|title=GSK rules out entering Shire takeover battle|newspaper=Reuters|date=25 April 2018|access-date=25 April 2018|archive-date=25 April 2018|archive-url=https://web.archive.org/web/20180425121509/https://uk.reuters.com/article/us-shire-m-a-takeda-pharma-gsk/gsk-rules-out-entering-shire-takeover-battle-idUKKBN1HW1JT|url-status=dead}}</ref> On 8 May 2018, an agreement was finally reached in which Shire was sold to [[Takeda Pharmaceutical Company|Takeda]] in a $62 billion deal.<ref>{{Cite news|url=https://www.bloomberg.com/news/articles/2018-05-08/takeda-inks-62-billion-deal-to-buy-shire-for-cash-and-shares|title=Takeda Clinches $62 Billion Deal to Buy Drugmaker Shire|work=Bloomberg.com|access-date=2018-05-08|language=en|archive-date=8 May 2018|archive-url=https://web.archive.org/web/20180508090835/https://www.bloomberg.com/news/articles/2018-05-08/takeda-inks-62-billion-deal-to-buy-shire-for-cash-and-shares|url-status=live}}</ref><ref>{{Cite news|url=https://www.reuters.com/article/us-shire-m-a-takeda/japans-takeda-agrees-62-billion-takeover-of-shire-idUSKBN1I90IC|title=Japan's Takeda agrees $62 billion takeover of Shire|author=Reuters Editorial|work=U.S.|access-date=2018-05-08|language=en-US|archive-date=8 May 2018|archive-url=https://web.archive.org/web/20180508101816/https://www.reuters.com/article/us-shire-m-a-takeda/japans-takeda-agrees-62-billion-takeover-of-shire-idUSKBN1I90IC|url-status=live}}</ref> Takeda's acquisition of Shire closed on 8 January 2019.<ref>{{cite web|url=http://www.pharmatimes.com/news/takeda_completes_shire_acquisition_1274243|title=Takeda completes Shire acquisition|date=8 January 2019|publisher=Pharma Times|access-date=24 January 2019|archive-date=11 January 2019|archive-url=https://web.archive.org/web/20190111224604/http://www.pharmatimes.com/news/takeda_completes_shire_acquisition_1274243|url-status=live}}</ref>

==Acquisition history== {{hidden begin|border=1px #aaa solid|title=Shire Plc Acquisitions|ta1=center}} {{Tree list}} *[[Shire Plc]] (Founded 1986, Acq 2019) **Pharmavene (Acq 1997) **Richwood Pharmaceutical Company (Acq 1997) **Biochem Canada (Acq 2001) **Transkaryotic Therapeutics (Acq 2005) **New River Pharmaceuticals Inc (Acq 2007) **[[Jerini]] (Acq 2008) **Movetis (Acq 2012) **Advanced BioHealing (Acq 2011) **FerroKin BioSciences (Acq 2012) **Lotus Tissue Repair, Inc (Acq 2013) **Premacure AB (Acq 2013) **SARcode Bioscience Inc (Acq 2013) **[[ViroPharma]] (Founded 1994, Acq 2013) ***Lev Pharmaceuticals (Acq 2008) **Fibrotech (Acq 2014) **Lumena (Acq 2014) **NPS Pharmaceuticals (Acq 2015) **Meritage Pharma (Acq 2015) **Foresight Biotherapeutics (Acq 2015) **Dyax (Acq 2015) **[[Baxalta]] (Acq 2016) {{Tree list/end}} {{hidden end}}

==Products== The Annual Revenue figures in the following table were drawn from the company's 2015 preliminary results.<ref name=2015results>{{cite web|url=http://investors.shire.com/~/media/Files/S/Shire-IR/quarterly-reports/2016/full-year-2015-results-press-release.pdf|title=Preliminary Results 2015|publisher=Shire|access-date=26 March 2016|archive-date=6 April 2016|archive-url=https://web.archive.org/web/20160406192344/http://investors.shire.com/~/media/Files/S/Shire-IR/quarterly-reports/2016/full-year-2015-results-press-release.pdf|url-status=live}}</ref> [[File:ADDERALL 20 XR.png|thumb|right|A container of Adderall XR]]

{| class="wikitable" |- ! style="width:30%;"|Name ! style="width:22px;"| Annual revenue ! style="width:55%;"|Indication |- |[[Vyvanse]] | style="text-align: right;" |$1,722M |[[Attention deficit hyperactivity disorder]] (ADHD) |- |[[Lialda]]/Mezavant | style="text-align: right;" |$684M |[[Gastrointestinal]] ([[ulcerative colitis]]) |- |[[Cinryze]] | style="text-align: right;" |$618M |Swelling attacks in children |- |[[Gattex]]/Revestive & [[Natpara]] | style="text-align: right;" |$166M |Short Bowel Syndrome (SBS) & [[hypocalcemia]] in patients with [[hypoparathyroidism]] |- |[[Firazyr]] | style="text-align: right;" |$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.<ref>{{cite web|url=http://www.genengnews.com/gen-news-highlights/armagen-licenses-agt-182-rights-to-shire-for-up-to-225m/81250142/?kwrd=Shire|title=GEN - News Highlights:ArmaGen Licenses AGT-182 Rights to Shire for Up to $225M|work=GEN|date=23 July 2014|access-date=24 July 2014|archive-date=27 July 2014|archive-url=https://web.archive.org/web/20140727194522/http://www.genengnews.com/gen-news-highlights/armagen-licenses-agt-182-rights-to-shire-for-up-to-225m/81250142/?kwrd=Shire|url-status=live}}</ref>

The Annual Revenue figures in the following Table were drawn from the company's 2015 preliminary results.<ref name=2015results/> {| class="wikitable" border="1" |- ! style="width:200px;"|Name ! style="width:25px;"| Annual revenue ! style="width:300px;"|Indication ! Licensee |- |[[Adderall XR]] | style="text-align: right;" |$70.3M |[[Attention deficit hyperactivity disorder]] (ADHD) |Impax and Teva |- |[[Lamivudine|3TC (Lamivudine)]] and [[Lamivudine|Zeffix (Lamivudine)]] | style="text-align: right;" |$91.6M |[[Human Immunodeficiency Virus|HIV]] and [[Chronic hepatitis B]] |[[GlaxoSmithKline]] |- |[[Fosrenol]] | style="text-align: right;" |$53.3M |[[Renal disease]] |Bayer Yakuhin |- |Other | style="text-align: right;" |$26.4M | | |}

==Corporate leadership== [[Flemming Ørnskov]], was the company's [[chief executive officer]] through 8 January 2019 with Takeda's acquisition of Shire.<ref>{{cite news | author=Bennett, Simeon | title=Shire's New CEO Adds Sales Staff, Damps Takeover Talk | date=2013-06-10 | agency=[[Bloomberg Business News]] | url=https://www.bloomberg.com/news/articles/2013-06-10/shire-s-new-ceo-adds-sales-staff-damps-takeover-talk | access-date=22 March 2016 | archive-date=3 April 2016 | archive-url=https://web.archive.org/web/20160403210413/http://www.bloomberg.com/news/articles/2013-06-10/shire-s-new-ceo-adds-sales-staff-damps-takeover-talk | url-status=live }}</ref> Ginger Gregory as chief [[human resources]] officer, Jeffrey Poulton as [[Chief financial officer|CFO]], and Philip Vickers as head of [[Research and development|R&D]].<ref>{{cite web | author=Shire Staff | date=2016-03-22 | url=https://www.shire.com/who-we-are/leadership/executive-committee | title=Leadership: Executive Committee | publisher=Shire | access-date=13 February 2015 | archive-date=15 June 2015 | archive-url=https://web.archive.org/web/20150615002413/https://www.shire.com/who-we-are/leadership/executive-committee | url-status=live }}</ref> James Bowling vacated his position as interim CFO in the aftermath of the collapse of the AbbVie inversion deal.<ref>{{cite news | author1=Schaps, Karolin | author2=Hirschler, Ben | name-list-style=amp | date=2014-10-20 | title=Shire CFO to leave drugmaker as AbbVie drops bid | work=[[Reuters]] | url=https://www.reuters.com/article/us-shire-moves-cfo-idUSKCN0I90M720141020 | access-date=22 March 2016 | archive-date=4 April 2016 | archive-url=https://web.archive.org/web/20160404120049/http://www.reuters.com/article/us-shire-moves-cfo-idUSKCN0I90M720141020 | url-status=live }}</ref> The chair of Shire's board of directors was Susan Kilsby.<ref>{{cite web | author=Shire Staff | date=2016-03-22 | url=https://www.shire.com/who-we-are/leadership/board-of-directors | title=Leadership: Board of Directors | publisher=Shire | access-date=22 March 2016 | archive-date=25 March 2016 | archive-url=https://web.archive.org/web/20160325071238/https://www.shire.com/who-we-are/leadership/board-of-directors | url-status=live }}</ref>

==Legal issues==

===False Claims Act violations=== In September 2014, Shire reached a $56.5 million settlement with the [[U.S. Department of Justice]] for alleged violations of the [[False 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.<ref>{{cite web |title=Shire Pays $56.5M to Settle False-Claims Whistleblower Suit |url=https://www.genengnews.com/news/shire-pays-56-5m-to-settle-false-claims-whistleblower-suit/ |website=Genetic Engineering & Biotechnology News |date=25 September 2014 |access-date=27 November 2021 |archive-date=27 November 2021 |archive-url=https://web.archive.org/web/20211127215210/https://www.genengnews.com/news/shire-pays-56-5m-to-settle-false-claims-whistleblower-suit/ |url-status=live }}</ref><ref>{{cite web |title=Shire Pharmaceuticals LLC to Pay $56.5 Million to Resolve False Claims Act Allegations Relating to Drug Marketing and Promotion Practices |url=https://www.justice.gov/opa/pr/shire-pharmaceuticals-llc-pay-565-million-resolve-false-claims-act-allegations-relating-drug |website=The United States Department of Justice |date=24 September 2014 |publisher=Office of Public Affairs |access-date=27 November 2021 |archive-date=27 November 2021 |archive-url=https://web.archive.org/web/20211127215403/https://www.justice.gov/opa/pr/shire-pharmaceuticals-llc-pay-565-million-resolve-false-claims-act-allegations-relating-drug |url-status=live }}</ref><ref>{{cite web |title=Adderall Maker to Pay $56.5 Million to Resolve False Claims Charge |url=https://www.corporatecrimereporter.com/news/200/adderall-maker-pay-56-5-million-resolve-false-claims-charge/ |website=Corporate Crime Reporter |date=25 September 2014 |access-date=27 November 2021 |archive-date=27 November 2021 |archive-url=https://web.archive.org/web/20211127215551/https://www.corporatecrimereporter.com/news/200/adderall-maker-pay-56-5-million-resolve-false-claims-charge/ |url-status=live }}</ref>

===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.<ref>{{cite web |title=Pharmaceutical company agrees to 'landmark' settlement in Tampa federal court |url=https://www.bizjournals.com/tampabay/news/2017/01/11/pharmaceutical-company-agrees-to-landmark.html |website=The Business Journals |access-date=27 November 2021 |archive-date=14 January 2017 |archive-url=https://web.archive.org/web/20170114120445/http://www.bizjournals.com/tampabay/news/2017/01/11/pharmaceutical-company-agrees-to-landmark.html |url-status=live }}</ref><ref>{{cite news |title=U.S. says Shire subsidiaries to pay $350 million to settle false claims act allegations |url=https://www.reuters.com/article/us-shire-usa-idUKKBN14V1WS |website=Reuters |date=11 January 2017 |access-date=27 November 2021 |archive-date=27 November 2021 |archive-url=https://web.archive.org/web/20211127224523/https://www.reuters.com/article/us-shire-usa-idUKKBN14V1WS |url-status=live }}</ref>

==See also== {{Portal|Companies}} * [[Pharmaceutical industry in the United Kingdom]] *[[Takeda Pharmaceuticals]]

==References== {{Reflist|33em}}

==External links== *{{Official website|http://www.shire.com}} {{Finance links historical | name = Shire plc | sec_cik = 0000936402 }}

{{DEFAULTSORT:Shire Plc}} [[Category:Pharmaceutical companies established in 1986]] [[Category:Pharmaceutical companies disestablished in 2019]] [[Category:Pharmaceutical companies of Ireland]] [[Category:Pharmaceutical companies of the United Kingdom]] [[Category:Biotechnology companies of Ireland]] [[Category:Biotechnology companies of the United Kingdom]] [[Category:Biotechnology companies established in 1986]] [[Category:Biotechnology companies disestablished in 2019]] [[Category:Defunct companies of Jersey]] [[Category:Companies based in Dublin (city)]] [[Category:Companies based in Basingstoke]] [[Category:Companies formerly listed on the London Stock Exchange]] [[Category:Companies formerly listed on the Nasdaq]] [[Category:Multinational companies headquartered in the Republic of Ireland]] [[Category:Irish companies established in 1986]] [[Category:Irish companies disestablished in 2019]] [[Category:1986 establishments in Jersey]] [[Category:2019 disestablishments in Jersey]] [[Category:Life sciences industry]] [[Category:British companies established in 1986]] [[Category:British companies disestablished in 2019]] [[Category:2019 mergers and acquisitions]] [[Category:Takeda Pharmaceutical Company]] [[Category:Tax inversions]]