Shire's Ornskov signals a pause in dealmaking after a $50B buyout streak

Shire CEO Flemming Ornskov

Shire ($SHPG), awaiting the close of its $32 billion merger with Baxalta ($BXLT), is planning to move away from its penchant for acquisitions and focus on developing and launching products, CEO Flemming Ornskov said. Speaking to the Financial Times, Ornskov said the Irish drugmaker has "more than enough to do right now" after spending billions on NPS Pharma and Dyax over the past year. Shire has said the Baxalta acquisition will help it grow revenue to $20 billion by 2020, and the company's biggest priority moving forward "is to get internal growth drivers to succeed," Ornskov said. Story