Sector News

Shire to split operations in two

January 16, 2018
Life sciences

Shire has unveiled plans to split its operations into two separate entities – a neuroscience division and rare diseases one, and will later decide whether they should be listed independently.

The proposal follows the first stage of a strategic review of the firm’s neuroscience business, which concluded that it “warrants additional focus and investment”.

According to the Dublin, Ireland-headquartered group, the move will see each division benefit from “a sharper management focus, greater strategic clarity, and an increased ability to deploy resources to key growth priorities”.

Operational performance metrics of each division should be reported separately from the first quarter of this year.

Meanwhile, the second stage of the review will further evaluate all strategic alternatives, including the merits of an independent listing for each of the two divisions.

“Our new Rare Disease and Neuroscience Divisions will be well positioned for growth, profitability, innovation, and serving the needs of patients,” said Shire chief executive Flemming Ornskov.

The firm also said it has a promising late stage pipeline with fifteen programs currently in Phase III, and that it expects total revenues to reach $17-18 billion by 2020.

By Selina McKee

Source: Pharma Times

comments closed

Related News

June 24, 2022

Echosens and Novo Nordisk announce partnership to increase awareness and advance early diagnosis of NASH

Life sciences

Echosens, a high-technology company offering liver diagnostic solutions, and Novo Nordisk A/S, a leading global healthcare company, announced a partnership to advance early diagnosis of non-alcoholic steatohepatitis (NASH) and increase awareness of the disease among patients, healthcare providers and other stakeholders.

June 24, 2022

argenx receives positive CHMP opinion for Efgartigimod for the treatment of adult patients with Generalized Myasthenia Gravis in Europe

Life sciences

Positive opinion based on Phase 3 ADAPT trial showing efgartigimod provided clinically meaningful improvements in strength and quality of life measures. If approved, efgartigimod will be the first neonatal Fc receptor (FcRn) blocker for the treatment of adults in Europe living with rare neuromuscular disease generalized myasthenia gravis (gMG).

June 24, 2022

Galapagos finally takes M&A plunge, spending $251M for 2 biotechs in CAR-T push

Life sciences

Galapagos CEO Paul Stoffels, M.D., has finally taken the plunge on M&A. The newly minted chief executive has signed not one but two deals in an attempt to right the ship, bringing two small biotechs aboard for a combined 239 million euros ($251.4 million).