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| Flemming Ornskov, CEO of Shire |
Shire's ($SHPG) new CEO Flemming Ornskov attracted considerable scrutiny in the months leading up to his ascension to the top post 6 weeks ago. 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. And in an interview with Bloomberg Ornskov made it clear that more deals lie ahead--particularly in the rare disease field--as the company pushes ahead with an effort to expand labels on key franchise therapies.
What you shouldn't look for, he says in blunt terms, are any further buybacks once the $500 million plan now in place is completed. And he's not even thinking about being bought out, even as analysts play the M&A speculation card on seemingly every slow day of the year.
"I have a plethora of choices of deals I could be doing," Ornskov told the business news service. "I would love to find things in the marketplace that fit well into our rare-diseases business."
Size isn't the issue, either.
"We've shown we can do small deals, we have a history of doing big deals that were transformational for Shire, but size is not what we discuss with the board," Ornskov said. "It's fit with the strategy, it's unmet need, it's opportunity for growth."
Fixing the Vyvanse ADHD franchise, which has seen a slowing sales growth trajectory, is also paramount. The CEO is hoping that ongoing studies for binge eating and depression prove positive, which could double the $1.03 billion Shire earned on Vyvanse last year.
- here's the feature from Bloomberg
Special Report: Flemming Ornskov - The 25 most influential people in biopharma today - 2013