Shire completes combination with Baxalta

Dublin-based Shire plc has completed its previously announced combination with US Baxalta Incorporated, creating a leading global biotechnology company focused on serving patients with rare diseases and other highly specialized conditions.
Through the combination, Shire expects to deliver double-digit compound annual top-line growth, with over $20 billion in annual projected revenue by 2020 and approximately 65% of total annual revenues being immediately generated by its rare disease products. Shire now has more than 50 programs in clinical development, with a balanced mix of early, mid and late-stage projects.
With over 22,000 employees across more than 100 countries, Shire’s expanded global reach and best-in-class products offer the potential to help even more patients around the world with significant unmet needs.
Shire Chief Executive Officer Flemming Ornskov, MD, MPH, commented: “Upon the completion of our combination with Baxalta, Shire is now the global leader in rare diseases, with the number one rare diseases platform based on both revenue and pipeline programs. With our multiple high-value franchises, each with best-in-class products and a robust innovative portfolio, we further extend our capabilities for innovation and sustainable growth with patients at the center of everything we do.”
Dr Ornskov continued: “We have made impressive progress on integration planning since announcing the combination, moving much faster than other transactions of similar size based on benchmarks, to create certainty for our employees and to better serve our patients and customers going forward. As we launch our combined company today, we have a talented and experienced extended leadership team in place to guide the organization in achieving our goals. Working together, the possibilities are tremendous for our patients, healthcare partners and, importantly, our people, with opportunity for additional value creation for our shareholders.”