Shire establishes new rare disease and neuroscience divisions

Shire has announced plans to reorganise its business structure to create two distinct operational divisions, dedicated to rare diseases and neuroscience, respectively.

Following a strategic review of Shire's neuroscience business in August 2017, the corporate board has concluded that this business warrants additional focus and investment, and that creating two separate business divisions within Shire could be advantageous.

It is expected that this change will result in each division benefiting from a sharper management focus, greater strategic clarity and an enhanced ability to deploy resources to serve key growth priorities.

The second stage of the strategic review will involve the ongoing evaluation of all strategic alternatives, including the possible benefits of an independent listing for each of the two divisions. Another update is expected in the second half of 2018.

Dr Flemming Ornskov, chief executive officer of Shire, said: "Our new rare disease and neuroscience divisions will be well positioned for growth, profitability, innovation and serving the needs of patients."

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