Shire pays US$165m for Massachusetts site
Biopharma firm will grow its Human Genetic Therapies business
Shire, a global specialist biopharmaceutical company headquartered in the UK, has bought the Lexington Technology Park campus in Lexington, Massachusetts, US for US$165m. The purchase will enable the firm to grow its Human Genetic Therapies (HGT) business, which focuses on the discovery, development, and manufacturing of treatments for rare genetic diseases.
Shire had previously leased three buildings on the 96-acre campus, and owns the land where its new 200,000ft2 manufacturing plant is located. The company has agreed to buy the remaining land, including three buildings comprising 280,000ft2. Shire gains ownership of an additional 570,000ft2 expansion potential, including 170,000ft2 already under construction.
‘We are delighted to increase our presence in Massachusetts, which is one of the world's foremost centres for the biomedical and biopharmaceutical industry,’ said Sylvie Gregoire, president of Shire Human Genetic Therapies.
