Shire creates separate neurosciences division for future investments; Agenus gains $28M in royalty deal
→ Pfizer may be getting out of neurosciences work, but Shire $SHPG is stepping up its game. Shire is creating two separate drug divisions to help sharpen its focus on neurosciences. After a business review Shire says that it has determined that it will be better able to make strategic investments in the field if they carve out neurosciences. The news comes alongside a warning that Shire will fall well short of its announced goal of hitting $20 billion in revenue in 2020, which it promised in the wake of the Baxalta buyout. The new goal is $17 billion to $18 billion. Shire is also prepping a spinout of its ADHD group as it focuses more on rare diseases.
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