Shire, the UK’s third-largest drugmaker, with head offices in Basingstoke, has agreed to pay 328 million euros ($520.7 million) for Germany’s Jerini AG to add a treatment for an illness that causes sometimes fatal swelling of tissue.Investors in Jerini will get 6.25 euros for each of their shares, 68 percent more than the Berlin-based company’s stock price today in Frankfurt. Jerini shares were suspended. The purchase will add to earnings in the second half of 2010, Shire said today in a PR Newswire statement.

Shire will get the experimental Firazyr drug, being developed to fight a life-threatening condition called hereditary angioedema.

Src. Bloomberg

The Board of Directors of Shire Limited (LSE SHP, NASDAQ SHPGY), the global specialty biopharmaceutical company headquartered at Chineham Business Park in Basingstoke, announced yesterday that Graham Hetherington will join the Company as Chief Financial Officer and Executive Board Director on 1st July 2008.

Graham Hetherington has a broad range of experience in senior financial roles having most recently held positions as the Chief Financial Officer of Bacardi (2007) and Allied Domecq PLC (1999-2005). In his role at Allied Domecq he was a key member of the team that transformed the performance, shape and reputation of Allied Domecq, doubling shareholder value and overseeing a period of consistent earnings per share growth.

A Fellow of the Chartered Institute of Management Accountants (FCMA), Graham has valuable experience of leading finance functions for consumer brand driven organisations within the food and drink industry.

As previously announced, on June 18th 2008 Shire’s current Chief Financial Officer, Angus Russell becomes Chief Executive Officer; he will also be acting Chief Financial Officer until 1st July, when Graham Hetherington takes up the position. On June 18th, Shire’s current Chief Executive Officer Matthew Emmens becomes Chairman and Non-Executive Director, and Shire’s current Chairman, Dr James Cavanaugh retires from the Shire Board.

Angus Russell, Shire current Chief Financial Officer commented:

Graham brings to Shire a track record of delivering good financial results combined with extensive strategy, M&A and corporate development expertise in the rapidly changing food and drink industry.

Matthew Emmens, Shire current Chief Executive Officer added:

We welcome Graham to the Shire Board. In addition to his contributions as the Company’s Chief Financial Officer, he brings a wealth of financial experience as well as a new perspective from another highly competitive industry.

Graham Hetherington added:

Shire stands out as a leader in its field because it has a differentiated model, a clear strategy and it is prepared to take calculated risks in the interest of consistently delivering growth and shareholder value. I’m pleased to be joining a company with such a track record of innovation and I’m looking forward to bringing my experience of strong consumer driven industries to the Shire organisation.

Shire Plc (SHP L), the UK’s third-largest drugmaker with headquarters in Basingstoke, won US approval for use of its Vyvanse hyperactivity treatment in adult patients resulting in the largest jump in it’s stock since October 2006.

The Food and Drug Administration (FDA) approved the medicine in July 2007 for children between 6 and 12 years old with attention deficit hyperactivity disorder. More than 1 million prescriptions have been written since then, the Basingstoke-based company said today in a statement.

Shire said in February that its target of $350 million to $400 million in 2008 Vyvanse sales hinged on adult patients, a group Shire says is the fastest growing segment of the ADHD market. The drugmaker needs Vyvanse to replace sales it loses when the treatment’s predecessor, Adderall XR, loses patent protection next year.

The medicine, which brought in $76.5 million for Shire by the end of last year, has a 6.9 percent share of the market for ADHD treatments, Shire said. That’s an increase from 6.3 percent market share as of Feb. 21. The six biggest managed care plans now cover the product, Shire said.

Shire surged 6.5 percent to close at 978 pence in London trading. Before today, the shares had lost 20 percent this year.

This news comes shortly after the company announced that it is looking to quit the UK.

Via Bloomberg UK

Shire, the UK’s third-biggest pharmaceutical company, will incorporate a new holding company in Jersey and hold all board meetings in Dublin, leaving its operations and 300 staff in Basingstoke, Hampshire.

The move is understood to be a result of disquiet about a possible government crackdown on profits from offshore subsidiaries. Most UK companies do not pay corporation tax on offshore profits that are kept overseas unless the foreign subsidiary is deemed to have been set up to avoid tax. However, all firms must pay corporation tax of 28 per cent on all profits brought into the UK, “topping up” any lesser tax already paid in another country to the UK level.

More on this from Times Online.

The Board of Directors of Shire plc, the biopharmaceutical company headquartered in Basingstoke, this week announced that David Mott will join the Board as a Non Executive Director with immediate effect.

Mr Mott is Chief Executive Officer and President of MedImmune, Inc, a role he was appointed to in 2000. He joined MedImmune in 1992 and has held positions of increasing responsibility in finance, strategic planning, business development, medical and regulatory including the positions of Chief Financial Officer and Chief Operating Officer. MedImmune was acquired by AstraZeneca (AZ) in June 2007, and Mr. Mott is also now serving as Executive Vice President of AZ and a member of AZ’s Senior Executive Team.

Prior to joining MedImmune, Mr Mott was a Vice President in the Health Care Investment Banking Group at Smith Barney, Harris Upham & Co., Inc.

Mr Mott is a member of the Board of Directors of Rib-X Pharmaceuticals and also serves on the Boards of Directors of the Biotechnology Industry Organization (BIO) and the Technology Council of Maryland and MdBio. He holds a bachelor’s degree in economics and government from Dartmouth College, New Hampshire, USA.

Dr James Cavanaugh, Chairman of Shire commented:

David’s experience in the pharmaceutical industry, particularly in biotechnology is a welcome addition to our Board. As we reinforce Shire’s status as a growing global biopharmaceutical company, we will benefit greatly from David’s insight and talents.

David Mott added:

Shire is one of the most interesting companies in the industry with an impressive recent track record of launches and an equally exciting pipeline. I’m very pleased to be joining the Shire team at this point in the Company’s development.

Shire plc (LSE: SHP, NASDAQ: SHPGY, TSX: SHQ), the global specialty biopharmaceutical company with headquarters in Basingstoke, announces that it has agreed to sell a portfolio of non core products to Almirall for a cash consideration of $213m. The portfolio includes the dermatology products, SOLARAZE® (3% gel diclofenac sodium) and VANIQA® (eflornithine hydrochloride), and six other non-promoted products¹ across a range of indications, which are principally sold by Shire in the UK, France, Germany, Italy, Spain and Ireland.

The divested products are no longer core to Shire’s strategy of building market leading positions in specialty markets through the development and commercialization of competitive global products with strong intellectual property protection. Shire’s focus is on building its attention deficit hyperactivity disorder (ADHD), human genetic therapies, gastrointestinal and renal diseases businesses and, with its recent in-licensing of JUVISTA® (human recombinant TGFβ3) from Renovo plc, Shire intends to build a new specialty area of regenerative medicine. Shire’s specialty products are increasingly global in their reach – for example Shire aims to expand its ADHD expertise to markets outside the U.S. within the next two years, with an initial focus on the EU. This product divestment will enable Shire to pursue this strategy in a more concentrated way.

Shire plc Chief Executive, Matthew Emmens comments:

Our strategic focus is clear and our emphasis in the international markets is on developing competitive positions for our global products that meet the needs of the specialist physicians and their patients, in our chosen areas of expertise. Almirall is well positioned to ensure future development and investment in the products we are divesting, which are no longer core to our strategy.

Almirall Chairman and CEO, Dr Jorge Gallardo said

We are very satisfied with this acquisition since it expands our international presence in a critical market like the UK and reinforces our position as one of the key European specialty pharmaceutical companies.

The transaction is contingent on competition clearances and other customary consents. Shire was advised by Rothschild.