Shire
Shire was a UK-founded specialty biopharmaceutical company that built a global portfolio in rare diseases, neuroscience, gastrointestinal medicine and other highly specialized therapeutic areas before being acquired by Takeda in 2019.
Last updated August 31, 2026
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Overview
Shire plc was a specialty biopharmaceutical company founded in the United Kingdom in 1986 and ultimately registered in Jersey, with major operating centers in the United States, Ireland and Switzerland. Although the company began with a relatively conventional consumer-health product, a calcium supplement marketed as Calcichew-D3, it gradually developed into an acquisition-led pharmaceutical group focused on medicines for uncommon diseases and specialized patient populations. The company’s early expansion combined product development with purchases of drug-delivery and pharmaceutical businesses. Its acquisition of Pharmavene in 1997 added drug-delivery capabilities, while the purchase of Richwood Pharmaceutical later that year strengthened its U.S. commercial platform and created Shire-Richwood. Shire listed on the London Stock Exchange in 1996 under chief executive Rolf Stahel and continued to broaden its geographic and therapeutic reach through acquisitions including Biochem Canada, Transkaryotic Therapeutics and New River Pharmaceuticals. New River, acquired in 2007, brought the ADHD medicine Vyvanse, which became one of Shire’s best-known products. A tax-domicile change to Dublin in 2008 reflected the importance of intellectual property and international tax planning to the company’s structure. From 2010 onward, Shire pursued an especially active merger-and-acquisition strategy. Transactions involving Movetis, Advanced BioHealing, FerroKin BioSciences, ViroPharma, NPS Pharmaceuticals and Dyax expanded its gastrointestinal, regenerative medicine, hematology, immunology and rare-disease franchises. The 2016 acquisition of Baxalta was the largest and most consequential of these transactions, transforming Shire into a major global biotechnology company centered on rare diseases. Its portfolio included Vyvanse, Adderall XR, Lialda, Pentasa, Gattex, Natpara, Firazyr and Kalbitor, among other branded and specialty medicines. Shire also became the subject of major takeover negotiations. AbbVie’s proposed acquisition in 2014 was terminated after changes to U.S. tax-inversion rules made the transaction less attractive to AbbVie. In 2018, Takeda pursued Shire through several improved bids. Shire’s shareholders approved the transaction, and Takeda completed the acquisition on 8 January 2019. Shire’s former operations, products and facilities were subsequently integrated into Takeda, including the incorporation of its Lexington, Massachusetts presence into Takeda’s U.S. organization. At the end of its independent life, Shire operated across hematology, immunology, neuroscience, lysosomal storage disorders, gastrointestinal and internal medicine, endocrine diseases, hereditary angioedema, oncology and ophthalmology. Its business model relied heavily on acquiring or licensing late-stage and commercial assets, then using global specialty-care infrastructure to develop and market them. The Shire name no longer represents an independent operating pharmaceutical company, but its medicines and therapeutic franchises remain part of the history and product portfolio inherited by Takeda.
History
Shire was established in the United Kingdom in 1986 by Harry Stratford, Dennis Stephens, Peter Moriarty, Geoff Hall and Jim Murray. Its first commercial focus was not rare diseases but calcium supplementation: Calcichew-D3 was marketed for osteoporosis prevention and treatment. The company became publicly listed on the London Stock Exchange in 1996 under Rolf Stahel. In 1997, it acquired Pharmavene for access to drug-delivery technologies and purchased Richwood Pharmaceutical, creating Shire-Richwood and establishing a stronger U.S. presence. The next phase involved building a broader pharmaceutical platform. Shire acquired Biochem Canada in 2001 and Transkaryotic Therapies in 2005. In 2007 it purchased New River Pharmaceuticals for approximately $2.6 billion, obtaining Vyvanse and strengthening its neuroscience business. The 2008 acquisition of German company Jerini added a hereditary-angioedema franchise. That same year, Shire moved its tax domicile to Dublin in response to changes in the United Kingdom’s treatment of patent royalties. Beginning in 2010, management explicitly emphasized expansion through acquisitions. Movetis added gastrointestinal products, Advanced BioHealing added regenerative medicine, and FerroKin BioSciences contributed an iron-chelation candidate. In 2013 Shire acquired Lotus Tissue Repair, SARcode Bioscience and ViroPharma. ViroPharma was particularly important because it added products and development programs for rare diseases, including hereditary angioedema. Further purchases in 2014, including Fibrotech and Lumena, expanded the company’s experimental portfolio in fibrosis, gastrointestinal disease and liver-related conditions. The acquisition of NPS Pharmaceuticals in 2015 brought Gattex and Natpara and reinforced Shire’s rare-disease strategy. The company also bought Meritage Pharma, Foresight Biotherapeutics and Dyax during 2015. Dyax contributed Kalbitor and a development program involving plasma kallikrein inhibition. In 2016, Shire acquired Baxalta, a business spun out of Baxter, in a transaction that made Shire one of the world’s largest biotechnology companies focused primarily on rare diseases. Shire’s organization subsequently operated across hematology, immunology, neuroscience, lysosomal storage disorders, gastrointestinal and endocrine medicine, hereditary angioedema, oncology and ophthalmology. Shire’s independence was repeatedly tested by takeover activity. AbbVie pursued the company in 2014, but the proposed transaction collapsed in October after U.S. tax-inversion reforms altered the economic rationale. In 2018, Shire agreed to sell its oncology business to Servier while also negotiating with Takeda. Takeda made several successively higher proposals, and Shire ultimately agreed to recommend a revised offer. The acquisition closed on 8 January 2019. Takeda integrated Shire’s operations, including its U.S. activities and manufacturing footprint. The former Shire company therefore became part of Takeda rather than continuing as a separate brand-led pharmaceutical group.
- 2019
Takeda acquisition closed
[1]Takeda completed the acquisition on 8 January, ending Shire’s independent corporate status.
- 2018
Takeda acquisition agreed
[1]Shire agreed to recommend Takeda’s revised acquisition proposal and separately agreed to sell its oncology business to Servier.
- 2016
Baxalta acquisition completed
[1]The transaction made Shire a leading global biotechnology company focused on rare diseases.
- 2014
AbbVie transaction abandoned
[1]AbbVie and Shire ended takeover discussions after changes to U.S. tax-inversion rules.
- 2008
Tax domicile moved to Dublin
[1]Shire changed its tax domicile from the United Kingdom to Ireland.
- 2007
New River Pharmaceuticals acquired
[1]The acquisition brought Vyvanse and materially strengthened Shire’s neuroscience portfolio.
- 1997
Pharmavene and Richwood acquisitions
[1]The company acquired drug-delivery specialist Pharmavene and Richwood Pharmaceutical, creating Shire-Richwood.
- 1996
London Stock Exchange listing
[1]Shire became publicly listed in London during the leadership of Rolf Stahel.
- 1986
Company founded in the United Kingdom
[1]Shire was established by five entrepreneurs and began building a pharmaceutical business in the United Kingdom.
Products and positioning
Specialty biopharmaceutical company focused on rare diseases and highly specialized therapeutic areas
Neuroscience and ADHD
Vyvanse
A lisdexamfetamine-based medicine for attention-deficit/hyperactivity disorder. Shire obtained the product through its acquisition of New River Pharmaceuticals and made it one of the company’s best-known neuroscience brands.
Neuroscience and ADHD
Adderall XR
An extended-release mixed amphetamine salt product used in ADHD treatment. It formed part of Shire’s established neuroscience portfolio and was among the products referenced in U.S. promotional litigation.
Gastrointestinal medicine
Lialda
A mesalamine-based gastrointestinal medicine associated with Shire’s inflammatory bowel disease portfolio.
Rare disease and gastrointestinal medicine
Gattex
A rare-disease product acquired through NPS Pharmaceuticals and used in the company’s specialty gastrointestinal franchise.
Endocrine medicine
Natpara
An endocrine medicine added through the NPS Pharmaceuticals acquisition, contributing to Shire’s rare-disease and specialized-care portfolio.
Hereditary angioedema
Kalbitor
A plasma kallikrein inhibitor for hereditary angioedema, acquired through Dyax and representative of Shire’s focus on specialized rare-disease treatment.
Regenerative medicine
Dermagraft
A regenerative-medicine product associated with Shire’s Advanced BioHealing business. Its promotion later became the subject of a U.S. Department of Justice settlement.
Controversies
2017
Dermagraft promotion settlement
Shire reached a settlement with the U.S. Department of Justice concerning alleged violations of the False Claims Act linked to the promotion of Dermagraft.
2014
False Claims Act marketing settlement
Shire agreed to a U.S. settlement over allegations that it had improperly marketed and promoted Adderall XR, Daytrana, Vyvanse, Pentasa and Lialda during various periods. The allegations included unsupported safety and benefit claims and promotion for uses not approved by the U.S. regulator.
Brand decisions
2018
Agree to Takeda acquisitionM&ABackground
Takeda made several approaches for Shire, increasing the cash and share components of its proposals.
Action taken
Shire agreed to recommend Takeda’s revised offer, and the transaction was completed the following year.
Aftermath
Shire ceased to operate as an independent listed company and its business was integrated into Takeda.
2016
Acquire BaxaltaM&ABackground
Shire sought to increase its scale in rare diseases and specialty biotechnology after several earlier portfolio acquisitions.
Action taken
Shire completed the acquisition of Baxalta, a company spun out of Baxter.
Aftermath
The combination substantially expanded Shire’s global rare-disease platform and became a defining stage of its corporate development.
2014
Reject and later terminate AbbVie takeoverStrategyBackground
AbbVie made a succession of proposals to acquire Shire, but proposed U.S. tax-inversion changes weakened the rationale for the transaction.
Action taken
Shire rejected the initial approaches and the parties terminated the proposed merger in October 2014.
Aftermath
Shire remained independent and continued its acquisition-led specialty-pharmaceutical strategy.
Recent events
Reported
Shire completes acquisition of Meritage Pharma[2]
Shire acquired Meritage Pharma for an upfront fee of $70 million, plus contingent payments tied to development and regulatory milestones. The acquisition included global rights to Meritage's Oral Budesonide Suspension compound and further development of it.
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