Independent Shire Focuses on Biotech, Smaller Acquisitions

Nov 11, 2014

Investor's Business Daily

Now that the buyout drama has quieted after AbbVie reconsidered its $51.5 billion acquisition of Shire, Shire CEO Flemming Ornskov focuses on the drugmaker's opportunities as an independent company.

In an interview with Investor's Business Daily, Ornskov stated that Shire will continue with its strategy to be more focused on becoming a biotech company. He added that, going forward, rare diseases will be a focal point with business development and acquisitions.

According to Ornskov, Shire will continue to look for targeted acquisitions, similar to the rare disease biopharma ViroPharma buy made last year.

Read the full IBD interview