LEXINGTON, Massachusetts, January 22, 2016 /PRNewswire/ --

Shire plc (LSE: SHP, NASDAQ: SHPG) today announced that it has completed its acquisition of Dyax Corp. (NASDAQ: DYAX) in an all-cash transaction valued at approximately $5.9 billion, comprised of $37.30 in cash per Dyax share. Dyax shareholders may receive additional value through a non-tradable contingent value right (CVR) that will pay $4.00 in cash per Dyax share upon approval of DX-2930 for HAE, representing a potential additional $646 million in aggregate contingent consideration.

Shire's Chief Executive Officer, Flemming Ornskov, MD, MPH, commented:

"We are excited to complete the acquisition of Dyax and look forward to working alongside their very talented and committed team to address significant unmet patient need around the world. The addition of Kalbitor and DX-2930 to our portfolio strengthens our leadership position in HAE and, along with the commercial and research and development expertise at Dyax, is a clear strategic fit for us that advances our position as the global leader in rare diseases. We are confident that our patients, particularly those with HAE, will be served for many years to come."

NOTES TO EDITORS 

About Shire

Shire enables people with life-altering conditions to lead better lives.

Our strategy is to focus on developing and marketing innovative specialty medicines to meet significant unmet patient needs.

We focus on providing treatments in Rare Diseases, Neuroscience, Gastrointestinal and Internal Medicine and are developing treatments for symptomatic conditions treated by specialist physicians in other targeted therapeutic areas, such as Ophthalmics.

http://www.shire.com

Forward-Looking Statements 

Statements included herein that are not historical facts, including without limitation statements concerning our proposed business combination with Baxalta Incorporated ("Baxalta") and the timing and financial and strategic benefits thereof, our 20x20 ambition that targets $20 billion in combined product sales by 2020, as well as other targets for future financial results, capital structure, performance and sustainability of the combined company, the combined company's future strategy, plans, objectives, expectations and intentions, the anticipated timing of clinical trials and approvals for, and the commercial potential of, inline or pipeline products are forward-looking statements. Such forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, Shire's results could be materially adversely affected. The risks and uncertainties include, but are not limited to, the following: 


        
        - the proposed combination with Baxalta may not be completed due to a failure to
          satisfy certain closing conditions, including any shareholder or regulatory approvals
          or the receipt of applicable tax opinions;
        - the businesses may not be integrated successfully, such integration may be more
          difficult, time-consuming or costly than expected, or the expected benefits of the
          transaction may not be realized;
        - disruption from the proposed transaction may make it more difficult to conduct
          business as usual or maintain relationships with patients, physicians, employees or
          suppliers;
        -  the combined company may not achieve some or all of the anticipated benefits of
          Baxalta's spin-off from Baxter International, Inc. ("Baxter") and the proposed
          transaction may have an adverse impact on Baxalta's existing arrangements with Baxter,
          including those related to transition, manufacturing and supply services and tax
          matters;
        - the failure to achieve the strategic objectives with respect to the proposed
          combination with Baxalta may adversely affect the combined company's financial
          condition and results of operations;
        - products and product candidates may not achieve commercial success;
        - product sales from ADDERALL XR and INTUNIV are subject to generic competition;
        - the failure to obtain and maintain reimbursement, or an adequate level of
          reimbursement, by third-party payers in a timely manner for the combined company's
          products may affect future revenues, financial condition and results of operations,
          particularly if there is pressure on pricing of products to treat rare diseases;
        - supply chain or manufacturing disruptions may result in declines in revenue for
          affected products and commercial traction from competitors; regulatory actions
          associated with product approvals or changes to manufacturing sites, ingredients or
          manufacturing processes could lead to significant delays, an increase in operating
          costs, lost product sales, an interruption of research activities or the delay of new
          product launches;
        - the successful development of products in various stages of research and development
          is highly uncertain and requires significant expenditures and time, and there is no
          guarantee that these products will receive regulatory approval;
        - the actions of certain customers could affect the combined company's ability to sell
          or market products profitably, and fluctuations in buying or distribution patterns by
          such customers can adversely affect the combined company's revenues, financial
          condition or results of operations;
        - investigations or enforcement action by regulatory authorities or law enforcement
          agencies relating to the combined company's activities in the highly regulated markets
          in which it operates may result in significant legal costs and the payment of
          substantial compensation or fines;
        - adverse outcomes in legal matters and other disputes, including the combined company's
          ability to enforce and defend patents and other intellectual property rights required
          for its business, could have a material adverse effect on the combined company's
          revenues, financial condition or results of operations;
        - Shire is undergoing a corporate reorganization and was the subject of an unsuccessful
          acquisition proposal and the consequent uncertainty could adversely affect the
          combined company's ability to attract and/or retain the highly skilled personnel
          needed to meet its strategic objectives;
        - failure to achieve the strategic objectives with respect to Shire's acquisition of NPS
          Pharmaceuticals Inc. or Dyax Corp. ("Dyax") may adversely affect the combined
          company's financial condition and results of operations;
        - the combined company will be dependent on information technology and its systems and
          infrastructure face certain risks, including from service disruptions, the loss of
          sensitive or confidential information, cyber-attacks and other security breaches or
          data leakages that could have a material adverse effect on the combined company's
          revenues, financial condition or results of operations;
        - the combined company may be unable to retain and hire key personnel and/or maintain
          its relationships with customers, suppliers and other business partners;
        - difficulties in integrating Dyax or Baxalta into Shire may lead to the combined
          company not being able to realize the expected operating efficiencies, cost savings,
          revenue enhancements, synergies or other benefits at the time anticipated or at all;
          and

other risks and uncertainties detailed from time to time in Shire's,  Dyax's or Baxalta's filings with the Securities and Exchange Commission ("SEC"), including those risks outlined in Baxalta's current Registration Statement on Form S-1, as amended, and in "Item 1A: Risk Factors" in Shire's Annual Report on Form 10-K for the year ended December 31, 2014.

All forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by this cautionary statement. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof. Except to the extent otherwise required by applicable law, we do not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

For further information please contact: 



    Investor Relations
    Matt Osborne
    mattosborne@shire.com
    +1-781-482-9502
    Sarah Elton-Farr
    seltonfarr@shire.com
    +44-1256-894157
    Media
    Michele Galen
    mgalen@shire.com
    +1-781-482-1867

SOURCE Shire plc