After whetting analysts' expectations on the deal-making front, he executed a series of small deals for experimental ophthalmology treatments--which fit well with his own professional background.
Shire ($SHPG) is a perennial entry on everybody's favorite M&A target list. Now, according to the Daily Mail , Shire is putting its ducks in a row for a potential "special dividend" to counter any takeover interest. Word is, an £11 billion hostile bid is coming.
Shire has nailed down another deal to fuel its growing rare disease unit. The pharma group has tapped the Cambridge, MA-based startup Nimbus Discovery, which will use its computational approach to find small-molecule drugs for rare genetic diseases known as lysosomal storage disorders.
The R&D numbers for the top 10 biotechs may only amount to a fraction of what you'll find in Big Pharma. But unlike the giants, which are trying to keep a lid on multibillion-dollar budgets, you'll find a much faster crowd when you turn your gaze to the biotechs.
Shire's new CEO wasted no time in putting his stamp on the company's global operations. In his first quarterly report this morning the newly minted Chief Executive Flemming Ornskov divvied up the marketing operations among five units based on disease categories and forged a single R&D organization for the company.
Fast-changing Shire is on a deal spree. This morning the biotech announced it is buying Brisbane, CA-based SARcode Bioscience for $160 million upfront and an unspecified slate of milestones. The buyout lands another ophthalmology asset for Shire, which closed on Sweden's Premacure just days ago.
In a move that could help diversify its overall pipeline, Shire placed its bet on Swedish company Premacure AB and its Phase II protein replacement therapy designed to combat a rare disease that causes blindness in premature infants.
Shire's new CEO apprentice has closed on his first buyout deal for the company. Flemming Ornskov took the lead this morning in announcing that Shire has snapped up the Swedish biotech Premacure AB in a deal that will add a near late-stage, rare disease program to the company's bustling Human Genetic Therapies group in Lexington, MA.
If AstraZeneca decides it needs a big acquisition to get out of the doldrums, it may find itself competing with Bristol-Myers Squibb. The Wall Street Journal reports that Bristol-Myers has been kicking tires around the industry, most recently at Biogen Idec.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Jennifer Levin ( email | Twitter ) and we will feature it...