Headquarters: Lexington, MA
Year Established: 1986
Revenues: $11,397 (+78%)
Net Income: $327 (-75%)
R&D: $1,440 (-8%)
Top Selling Drugs
At the beginning of 2016, Irish drug maker Shire catapulted itself into the top 25 companies after it bought American pharma firm Baxalta. The $32 billion mega-deal creates a global biotech projected to generate over $20 billion in annual revenues by 2020.
The combination of the two pharmaceutical giants creates a world leader in rare diseases, a platform for which Shire will now have leading products in each of the following growing, multi-billion-dollar therapeutic areas: hematology; immunology; neuroscience; lysosomal storage diseases; gastrointestinal/endocrine; and hereditary angioedema (HAE).
The combined company will also have a growing franchise in oncology, with approved products and innovative compounds in development, as well as a robust late-stage ophthalmics pipeline.
Altogether, there will be more than 60 programs in development, including over 50 that will address rare diseases, and the newly-approved Baxalta products Adynovate, Vonvendi and Obizur. Shire anticipates more than 30 recent and planned product launches from the combined pipeline, contributing approximately $5 billion in annual revenues by 2020.
On the heels of the deal, towards the end of the year, Shire unveiled plans to expand its operations in Cambridge, MA, establishing a rare disease innovation hub and increasing its footprint in Kendall Square, leasing a 343,000-sq.-ft. building with occupancy anticipated for the first quarter of 2019.
Shire will create a cross-disciplinary campus with teams spanning research, clinical development, medical affairs, business development, and other related functions. It will retain its current office, lab, and manufacturing space in Mass., including its presence in Lexington, where it’s been located since 2007. Shire currently employs more than 3,000 people in the state and as part of its growth in Kendall Square, Shire is undertaking a strategic review to identify which specific functions will be located there over time and plans to add nearly 400 positions.
At the tail end of the year, Shire U.S. Manufacturing entered into a multi-year supply agreement for an undisclosed product with AMRI. The product has been in AMRI’s portfolio through the required stages of development. This is the second such multi-year agreement between AMRI and Shire, as AMRI has also been supplying a neuroscience product to Shire.