Shire's Ornskov On Goals And Accomplishments One Year After Baxalta Merger
Shire's CEO says he sees scientific and technological advances as an opportunity to become the leading rare disease company. Ornskov also talked about the firm's debt-reduction and M&A strategy going forward.
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Shire had a combined 17 manufacturing plants after the Baxalta merger, but plans to cut that to a total of 12. Manufacturing issues hit sales of its HAE drug Cinryze in the third quarter, and the firm is losing Lialda sales faster than expected.
The merger with Baxalta left Shire a portfolio consisting of 80% rare disease therapies, suggesting logically that the company might want to exit the primary care ADHD space.
Pfizer will anchor the final week of major biopharma earnings calls, facing the same question as every firm with massive stockpiles of cash: When are you going to spend that money on a transformative M&A deal?