Date: 2014-11-19
Type of information: Establishment of a new subsidiary in the US
Compound:
Company: Shire (UK - USA)
Therapeutic area: Rares diseases - CNS diseases - Gastrointestinal diseases
Type agreement: establishment of a new subsidiary in the US
Action mechanism:
Disease:
Details: * On November 19, 2014, Shire announced plans to relocate over 500 positions to Massachusetts from its Chesterbrook, Pennsylvania, site and establish Lexington, Massachusetts, as the company’s U.S. operational headquarters. The transition is a continuation of the Company’s ‘One Shire’ efficiency program and will streamline business globally through two principal locations – Massachusetts and Switzerland – with support from a limited number of regional and country-based offices around the world. Simplifying operations in two principal locations will increase efficiencies and Shire expects to realize approximately $25 million in annual savings beginning in 2016. This site strategy will also enable greater alignment and execution of priorities between the Company’s commercial and research and development (R&D) teams to more effectively bring innovative products to patients, as well as strengthen collaboration and cross-development of employees. Shire plans to move employees in several phases beginning in the first quarter of 2015 and targets completion by the first quarter of 2016. All directly impacted employees who do not relocate will be offered severance, outplacement service and other employee assistance.
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