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Shire Pharmaceuticals to Establish U.S. Headquarters in Pennsylvania
PHILADELPHIA -- Shire Pharmaceuticals Group, a global specialty- pharmaceuticals company based in Basingstoke, U.K., will establish its new U.S. corporate headquarters in Wayne, Pa.,, creating 400 jobs within three years, reports Gov. Edward G. Rendell."We've made an important targeted investment in Shire that demonstrates our overall commitment to boosting the Commonwealth's pharmaceutical industry and to help solidify Pennsylvania's position as a global competitor for pharmaceutical businesses," Rendell says. "By working with companies like Shire, we're working toward a great future as an international leader in the biotechnology community."The Governor's Action Team worked with Shire Pharmaceuticals to bring the company to the Philadelphia area. To support the project, the Department of Community and Economic Development has agreed to provide a $5.2 million financial package that includes $1.2 million in Job Creation Tax Credits; a $2 million Opportunity Grant; $250,000 in Customized Job Training; $500,000 Machinery and Equipment loan; and a $1.25 million loan through the Pennsylvania Industrial Development Authority.Shire Pharmaceuticals develops and markets specialty drugs for use in the treatment of central nervous system, gastrointestinal and renal diseases. One of its leading products is Adderall XR, which is used in the treatment of attention-deficit hyperactivity disorder.Shire generates 70% of its more than $1 billion in annual revenue in the United States. The company is consolidating its North American operations and will invest $8 million in the Wayne facility, which will serve as the central hub for the company's Research and Development and U.S. Commercial activities. Shire expects to be in its new facility by September."The opening of our new headquarters in Pennsylvania is a strong investment in the future of Shire and underscores our commitment to the U.S. market," said Matthew Emmens, Shire's chief executive officer. "The greater Philadelphia area is one of America's leading pharmaceuticals and biotechnology centers, with about 80% of the world's largest pharmaceutical companies maintaining a presence in the region. Our new U.S. headquarters will give us the ability to recruit and retain the top pharmaceutical talent that we need to sustain our growth. Our new facility complements our U.S. growth initiatives.""