Navigation Links
Shire Purchases Strategic Site in Massachusetts
Date:6/30/2010

LEXINGTON, Massachusetts, June 30, 2010 /PRNewswire-FirstCall/ -- Shire plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical company, today announced its purchase of the Lexington Technology Park campus in Lexington, Massachusetts. The purchase signifies an investment in the growth of its Human Genetic Therapies (HGT) business, which focuses on the discovery, development, and manufacturing of treatments for rare genetic diseases.

Shire had previously leased three buildings on the 96 acre campus, and owns the parcel of land on the site where its new 200,000 square foot manufacturing plant is located. The purchase agreement is for the remaining land, including the three existing buildings comprising 280,000 square feet. Through the acquisition, Shire gains ownership of an additional 570,000 square feet of expansion potential available under the current permit, including 170,000 square feet already under construction. The purchase is value enhancing compared to the current lease agreement and has no material earnings impact. The $165 million cash purchase price will be settled during Q2 2010.

"We are delighted to increase our presence in Massachusetts, which is one of the world's foremost centers for the biomedical and biopharmaceutical industry," said Sylvie Gregoire, President of Shire Human Genetic Therapies. "Shire currently employs 1,000 people in the Commonwealth. This strategic purchase will allow our company greater flexibility as we grow, and enable us to remain focused on the research, development and manufacture of therapies for those suffering from rare diseases."

Notes to editors

SHIRE PLC

Shire's strategic goal is to become the leading specialty biopharmaceutical company that focuses on meeting the needs of the specialist physician. Shire focuses its business on attention deficit hyperactivity disorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI) diseases as well as opportunities in other therapeutic areas to the extent they arise through acquisitions. Shire's in-licensing, merger and acquisition efforts are focused on products in specialist markets with strong intellectual property protection and global rights. Shire believes that a carefully selected and balanced portfolio of products with strategically aligned and relatively small-scale sales forces will deliver strong results.

For further information on Shire, please visit the Company's website: http://www.shire.com.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Statements included herein that are not historical facts are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, the Company's results could be materially adversely affected. The risks and uncertainties include, but are not limited to, risks associated with: the inherent uncertainty of research, development, approval, reimbursement, manufacturing and commercialization of the Company's Specialty Pharmaceutical and Human Genetic Therapies products, as well as the ability to secure and integrate new products for commercialization and/or development; government regulation of the Company's products; the Company's ability to manufacture its products in sufficient quantities to meet demand; the impact of competitive therapies on the Company's products; the Company's ability to register, maintain and enforce patents and other intellectual property rights relating to its products; the Company's ability to obtain and maintain government and other third-party reimbursement for its products; and other risks and uncertainties detailed from time to time in the Company's filings with the Securities and Exchange Commission.


'/>"/>
SOURCE Shire plc
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Shire Receives LIALDA(R) Paragraph IV Notice Letter From Zydus Pharmaceuticals
2. Area Residents Can Give a Little, Help A Lot at Shires BIG GIVE
3. Shire Receives INTUNIV(TM) Paragraph IV Notice Letter From Anchen
4. Excellent Results in a Transformational Year for Shire; Core Product Sales up 25%
5. Shire Presents Positive Efficacy and Safety Data for velaglucerase alfa in Treatment of Naive Patients With Type 1 Gaucher Disease
6. Shire Submits Biologics License Application (BLA) for REPLAGAL(R) With the U.S. Food and Drug Administration (FDA)
7. Shire Expands its Award-Winning ADHD Support Resource, ADHDSupport.com, by Launching an ADHD Twitter(TM) Page
8. Shire and Teva Settle Litigation Concerning Supply of ADDERALL XR Authorized Generic
9. Shire Announces Publication of Open-Label Study on Coadministration of INTUNIV(TM) (guanfacine) Extended-Release Tablets with Stimulants
10. Shire Re-Launches FOCUS, an Online, Personalized Patient Support Program for Adults with ADHD Taking Vyvanse(R) (lisdexamfetamine dimesylate) Capsules CII
11. Shire Reports Tolerability and Clinical Effects Results of Daytrana(R) (methylphenidate transdermal system) from Study in Adolescents with ADHD
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/5/2017)... Neb. , June 5, 2017 ... in the United States . ... helps a fallen person up to an almost-standing ... easily assembled and operated by one assistant and does ... It is simple enough that a child can operate ...
(Date:5/30/2017)... 2017 Hill-Rom Holdings, Inc. (NYSE: HRC), will present ... Conference on Tuesday, June 13, 2017, in Rancho ... president and chief executive officer, is scheduled to present at ... can be accessed at http://ir.hill-rom.com/events.cfm . A recorded replay ... event through September 13, 2017. ...
(Date:5/24/2017)... 24, 2017  ivWatch LLC today announced the ... Board to enable seamless integration of ivWatch,s groundbreaking ... infusion pumps and other devices. By integrating ivWatch ... to help health care customers deliver a higher ... to IV therapy. "The ivWatch OEM ...
Breaking Medicine Technology:
(Date:6/23/2017)... (PRWEB) , ... June 23, 2017 , ... By scoring ... its ninth consecutive four-star rating from premier online charity evaluator, Charity Navigator, validating ANRF's ... top 1% of all charities reviewed by Charity Navigator and earns ANRF a spot ...
(Date:6/23/2017)... ... 2017 , ... The Military Officers Association of America (MOAA) announced its support ... retired Marine Col. Thomas G. Bowman. , Bowman currently serves as the staff director ... with the issues and challenges veterans face with the VA. Following a 30-year career ...
(Date:6/23/2017)... ... June 23, 2017 , ... Everybody has their own ... others prefer to read it, and some people don't like it at all. FindaTopDoc ... what they found: , Erotic literature can give readers a taste of their deepest, ...
(Date:6/23/2017)... ... 2017 , ... Ensuring meat products have reached the proper ... of correctly using a meat thermometer. The videos feature University of California Davis ... food safety habits. Dr. Bruhn explains the variety of meat thermometers available on ...
(Date:6/23/2017)... ... June 23, 2017 , ... MD Now Urgent Care ... Now’s 28th facility overall and marks the urgent care center's eighth location in Miami-Dade ... of The Falls shopping mall. The new clinic offers a wide array of ...
Breaking Medicine News(10 mins):