Shire plc Ups Headcount Despite Takeover Rumors
6/10/2013 8:22:24 AM
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Flemming Ornskov, who took over as Shire Plc (SHP)’s chief executive officer six weeks ago, is adding sales jobs and eschewing future share buybacks while cooling speculation that the drugmaker is an imminent takeover target.
Shire cut its U.S. sales force by as much as 150 last year, and Ornskov said he expects to restore a “significant” portion of those jobs in anticipation of widening use for Vyvanse, the company’s top-selling drug for attention deficit hyperactivity disorder, as a therapy for binge-eating and depression. Ornskov said he has no plans to expand a share-repurchasing program started by his predecessor, Angus Russell, who retired in April after 13 years at the company.
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