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New CEO Ornskov Re-Organizes, Streamlines Shire’s Commercial And R&D Functions

This article was originally published in The Pink Sheet Daily

Executive Summary

Top-line revenue was down slightly and Shire reduced its annual sales growth projections a bit too. But Shire’s first quarter earnings call centered on new CEO Flemming Ornskov’s decision to immediately implement a flatter management structure, reorganizing into five commercial business units and consolidating the R&D and business development operations.

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