Shire/Baxalta Complete $32 Billion Merger
Dublin Ireland-based Shire, a global pharmaceutical company specializing in several rare diseases such as gastrointestinal/endocrine diseases, hereditary angioedema and lysosomal storage diseases, has completed its merger with Baxalta. As part of the $32 billion merger, Shire’s catalog of rare disease products will expand to include Baxalta’s line of bleeding disorders therapies.
Baxalta, which represented Baxter BioScience’s global biopharmaceutical business, was formerly called Baxter up until July of 2015 when the company spun off from Baxter International. According to a June 3, 2016, release from Genetic Engineering & Biotechnology News, the merged companies, together include more than 22,000 employees across more than 100 countries, in addition to more than 50 programs in various stages of clinical development.
“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,” said Shire CEO Flemming Ornskov.
While Shire’s US headquarters will remain in Boston, MA, it is not yet known what the implications of the deal may be for Baxalta’s global headquarters in Bannockburn, IL, its Global Innovation and R&D Center in Cambridge, MA, and its several manufacturing facilities including existing and pipeline products.
“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,” added Ornskov. “Working together, the possibilities are tremendous for our patients, healthcare partners, and, importantly, our people, with opportunity for additional value creation for our shareholders.”
Source: Genetic Engineering & Biotechnology News, June 3, 2016, and Chicago Tribune (online), June 7, 2016