Advertisement
Shire had previously leased three buildings on the 96 acre campus, andowns the parcel of land on the site where its new 200,000 square footmanufacturing plant is located. The purchase agreement is for the remainingland, including the three existing buildings comprising 280,000 square feet.Through the acquisition, Shire gains ownership of an additional 570,000square feet of expansion potential available under the current permit,including 170,000 square feet already under construction. The purchase isvalue enhancing compared to the current lease agreement and has no materialearnings impact. The $165 million cash purchase price will be settled duringQ2 2010.
Advertisement
"We are delighted to increase our presence in Massachusetts, which is oneof the world's foremost centers for the biomedical and biopharmaceuticalindustry," said Sylvie Gregoire, President of Shire Human Genetic Therapies."Shire currently employs 1,000 people in the Commonwealth. This strategicpurchase will allow our company greater flexibility as we grow, and enable usto remain focused on the research, development and manufacture of therapiesfor those suffering from rare diseases."
Notes to editors
SHIRE PLC
Shire's strategic goal is to become the leading specialtybiopharmaceutical company that focuses on meeting the needs of the specialistphysician. Shire focuses its business on attention deficit hyperactivitydisorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI)diseases as well as opportunities in other therapeutic areas to the extentthey arise through acquisitions. Shire's in-licensing, merger and acquisitionefforts are focused on products in specialist markets with strongintellectual property protection and global rights. Shire believes that acarefully selected and balanced portfolio of products with strategicallyaligned 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 REFORMACT OF 1995
Statements included herein that are not historical facts areforward-looking statements. Such forward-looking statements involve a numberof risks and uncertainties and are subject to change at any time. In theevent such risks or uncertainties materialize, the Company's results could bematerially adversely affected. The risks and uncertainties include, but arenot limited to, risks associated with: the inherent uncertainty of research,development, approval, reimbursement, manufacturing and commercialization ofthe Company's Specialty Pharmaceutical and Human Genetic Therapies products,as well as the ability to secure and integrate new products forcommercialization and/or development; government regulation of the Company'sproducts; the Company's ability to manufacture its products in sufficientquantities to meet demand; the impact of competitive therapies on theCompany's products; the Company's ability to register, maintain and enforcepatents and other intellectual property rights relating to its products; theCompany's ability to obtain and maintain government and other third-partyreimbursement for its products; and other risks and uncertainties detailedfrom time to time in the Company's filings with the Securities and ExchangeCommission.
SOURCE Shire plc
