Shire Will Cut Manufacturing Sites As It Looks For More Baxalta Synergies
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.
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Company outlines manufacturing streamlining and efficiency effort that it expects to add significant cost savings above synergies anticipated from merger with Baxalta.
With Haegarda holding a convenience edge over Cinryze for HAE prophylaxis, Shire now has data showing that SHP616 also offers significant prevention of HAE attacks. How ‘616 fits into Shire’s overall HAE strategy is unclear.
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.