sr leaders meeting at 8, town hall meeting 9-11. people to go to specific rooms based on which department you are in. word is some roles will move to old viro site in exton (like Neuroscience BU and some other roles), others to lexington (corporate functions), cbk to close in 2 years with roles moving to lexington through attrition. exton to remain around for a bit. office close tomorrow after the meeting
All of this should not come as a surprise to anyone. The lease on Chesterbrook expired awhile ago. The lease on the Viro Pharma building is 25 years. And there is a ton of space in Lexington. When FO announced that he was not sitting in CBK, it pretty much solidified that site's fate. Nothing new here.
It is closing, within a year. Change for the sake of change works well. Moving/ losing the majority of those roles wont disrupt the business at all. Should be fine...
~ and while you're at it, please try to have a great Thanksgiving and take time to reflect back on all we have to be thankful for. (like Flemming, Perry and Kathy who enlighten us each day with even more sociopathic behavior)
One might assume that this is Fleming's latest lipstick on a pipe-line poor pig. ‘More Biotechy?’ Shire to Move US HQ and 500 Jobs to Greater Boston Article Comments .AbbVieChris ViehbacherFlemming OrnskovGenzymeLayoffsNovartisPfizerSanofiShireTax Inversions 0 7 0 13By Ed Silverman —Bloomberg NewsNow that Shire is no longer going to become part of AbbVie ABBV -0.84%, the drug maker has returned to making plans for the future. And in its first big move, Shire is shifting U.S. headquarters, 500 jobs and some of its most important operations from suburban Philadelphia to the greater Boston area. Shire, which is best known for selling ADHD pills such as Adderall XR, will move all of its R&D and commercial operations from Chesterbrook, Pa., to Lexington, Ma., which will become its new U.S. headquarters, according to a statement. Global operational headquarters remains in Switzerland. The move, which will save about $25 million annually starting in 2016, reflects an ongoing pivot toward Massachusetts among drug makers and biotechs, which seek to tap the extensive network of academic medical centers as well as venture capitalists that have attracted others companies to the region. “As we’ve evolved, we’re becoming more biotech-y in our approach,” Shire ceo Flemming Ornskov tells The Boston Globe. “We think that being in the cluster of the greater Boston area will help us. What has happened over the past decade is this has become the mecca for life sciences in the U.S.” Indeed, the Boston environs are now home to several operations run by large drug makers, including Pfizer, Novartis, Amgen and the Genzyme unit of Sanofi SAN.FR -3.40%. In fact, before he was ousted, former Sanofi ceo Chris Viehbacher moved from France to Boston to tap into the local scene. Shire currently employs 1,352 people in Lexington and 971 in Chesterbrook, along with about 300 contractors. An unspecified number of the Pennsylvania employees will be offered the chance to relocate, but a spokeswoman says it is too soon to say how many layoffs will occur. Other than Ornskov, most of the Shire executive team is based in Lexington, the spokeswoman says. The moving fees and expansion plans will be easier to pay for thanks to a $1.6 billion break-up fee from AbbVie, which last month walked away from a $52 billion deal to buy Shire after the Obama administration changed tax rules. AbbVie was pursuing a tax inversion, which involves lowering its corporate tax rate by purchasing an overseas company. Shire is domiciled in Ireland, where corporate tax rates are much lower than in the U.S. [UPDATE: The shift comes 10 years after Pennsylvania officials lured Shire to open U.S. headquarters with at least $5 million of tax credits and other economic incentives. A spokesman for Pennsylvania's economic-development department tells our colleague Peter Loftus that it's disappointed in the move, but notes the drug maker exceeded job creation and investment requirements tied to the previous aid. State officials met with Shire early last year to discuss potential state assistance and support to help maintain and grow operations in Pennsylvania.]
Best part was FO's appearance with private security. He really commanded lots of love. That's reallt biotechy
he's has security every since he denied the compassionate use request for the kid with MPS. Angus and Matt Emmons would've been Brave and helped the sick kid. Our fearless leader simply just counts his money and the days until he sells us off. http://www.theisaacfoundation.com/category/jack-fowler/
Flemming is an insecure bastard. It is funny to hear him falsely represent himself as Merck's all-star salesman. His greatest achievement is a tone perfect imitation of Elmer Fudd. Flemming do the world favor and go hunt rabbits. And to you Shire Board of Directors - Use the Abbvie money and invent or buy us a new drug to market. Where did Adderall and Vyvanse originate? Boston "FLEMMING WE HAVE YOUR BACK"!!!!!!!!!!!
Little chance of any new products unless we spend to buy them. No doubt that's why we are being pressed so much on our numbers. I mean after hearing FO and PS, anyone think they are going to lead us to greatness? No doubt that's why they were so desperate to be rescued by Abbvie.
The cost reductions will be implemented continuously throughout the year. Moving to Lexington may only save $25M in facility costs but think how many people will not move and thus lower the overall employee count. Effective way to thin the heard. Also, ever think WE may be selling a product or two? Like Vyvanse? One way to get out of NS and amass enough capital to go out and buy more "biotechy" toys for FO. Just a hunch.
I keep hearing rumors that NS is for sale. But given our track record buying products and our success with M&A ( hah) how much confidence would you have thst if they had cash they could do anything useful with it. I have confidence though they can cut costs.
