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Home Industry News Shire to continue expansion of genetic therapies unit

Shire to continue expansion of genetic therapies unit

18th February 2008

Shire has announced that it is to continue the expansion of its human genetic therapies unit.

The firm reported that it would remain in Massachusetts while investing $394 million (200 million pounds) in its Lexington campus to make it its centre for research, development and production in human genetic therapies.

At present, Shire has 675 full-time employees in the state of Massachusetts, with this further investment to result in the addition of 680 full-time jobs over the next eight years.

The firm notes that a key factor in its decision to maintain this location is the commitment of $40.5 million in tax and non-tax incentives granted to the firm that include grants for public infrastructure.

Sylvie Gregoire, president of human genetic therapies at Shire, said: “We are delighted to remain in Massachusetts and increase our presence in the commonwealth, which is one of the world’s foremost centres for the biomedical and biopharmaceutical industry.”

She added that these expansion plans mark the first step in partnership working efforts between the business unit, the town of Lexington and the commonwealth to support economic development, create jobs and help the firm develop treatments for patients suffering from rare diseases.

In December 2007, Shire announced the retirement of its non-executive chairman James H Cavanaugh, who was succeeded by current chief executive Matthew Emmens, with Angus Russel filling the role vacated by Mr Emmens.

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