Shire: Back to the future

A company with six-month product sales of $502 million, four products in registration and three compounds in Phase III studies would appear to be headed in the right direction. But Shire Pharmaceuticals Group plc last week announced plans to drop its early stage R&D and return to its old model of in-licensing late stage products and acquiring companies in the $1 billion valuation bracket. The move is designed to get its EPS growth rate into the mid-teens.
Shire (LSE:SHP; SHPGY, Basingstoke, U.K.) switched gears in 2000 with the acquisition

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