Shire completes combination with Baxalta
Irish pharmaceuticals company Shire said on Friday that it has completed its $32bn takeover of US-based Baxalta.
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Shire said that it expects to deliver double-digit compound annual top-line growth, with over $20bn in annual projected revenue by 2020 and around 65% of total annual revenues being immediately generated by its rare disease products.
Chief executive officer Flemming Ornskov said: “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.
“With our multiple high-value franchises, each with best-in-class products and a robust innovative portfolio, we further extend our capabilities for innovation and sustainable growth with patients at the centre of everything we do.”
At 0920 BST, Shire shares were up 1.3% to 4,508p.