Shire to streamline operations with 100-strong plant sale and in-house Cinryze production
Shire has revealed that it plans to sell one of its manufacturing sites in Milford, Massachusetts, having already entered active negotiations with prospective buyers.
The decision forms part of a cost-cutting programme focused on its manufacturing operations, announced alongside the statement of the company’s third-quarter earnings. This programme will involve the sale of five of its 17 sites worldwide.
Acquired as part of Shire’s acquisition of Baxalta which was completed in 2016, the Milford site in question measures 99,000 square-feet and is home to 100 employees, though the company has not announced plans to terminate these staff.
Within the state, the company plans to streamline its manufacturing capacity to two focal points over the next four years: one at campus in Cambridge, and the other at a campus in Lexington. In total, Shire employs 3,000 employees in the state.
Elsewhere in its third-quarter results announcement, Shire told investors it plans to bring some production of its hereditary angioedema drug Cinryze in-house following recent shortages where demand has periodically exceeded supply. This will ensure the company can more reliably supply the drug, though it did not specify at which of its sites it would be produced.
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