Shire (SHPG) 10-Q 4 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Billions	3 Months Ended
	Mar. 31, 2016	Apr. 22, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	936,402
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Trading Symbol	SHP, SHPG
Entity Registrant Name	Shire plc
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		592.1
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Public Float			$ 47.3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 69	$ 135.5
Restricted cash	22.3	86
Accounts receivable, net	1,312.7	1,201.2
Inventories	680	635.4
Prepaid expenses and other current assets	314.4	197.4
Total current assets	2,398.4	2,255.5
Non-current assets:
Investments	50.4	50.8
Property, plant and equipment, net ("PP&E")	837.6	828.1
Goodwill	6,881.9	4,147.8
Other intangible assets, net	13,715.6	9,173.3
Deferred tax asset	129.1	121
Other non-current assets	42.3	33.3
Total assets	24,055.3	16,609.8
Current liabilities:
Accounts payable and accrued expenses	1,978.2	2,050.6
Short-term borrowings	2,211.3	1,511.5
Other current liabilities	157.1	144
Total current liabilities	4,346.6	3,706.1
Non-current liabilities
Long-term borrowings	4,654	69.9
Deferred tax liability	3,543.3	2,205.9
Other non-current liabilities	1,216.7	798.8
Total liabilities	$ 13,760.6	$ 6,780.7
Commitments and contingencies
Equity:
Common stock of 5p par value; 1,000 million shares authorized; and 601.2 million shares issued and outstanding (2015: 1,000 million shares authorized; and 601.1 million shares issued and outstanding)	$ 59	$ 58.9
Additional paid-in capital	4,507.8	4,486.3
Treasury stock: 9.1 million shares (2015: 9.7 million shares)	(302.8)	(320.6)
Accumulated other comprehensive loss	(159.4)	(183.8)
Retained earnings	6,190.1	5,788.3
Total equity	10,294.7	9,829.1
Total liabilities and equity	$ 24,055.3	$ 16,609.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - £ / shares shares in Millions	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common Stock, Par Value (in GBP per share)	£ 0.05	£ 0.05
Common Stock, Shares Authorized	1,000	1,000
Common Stock, Shares, Issued	601.2	601.1
Common Stock, Shares, Outstanding	601.2	601.1
Treasury Stock, Shares	9.1	9.7

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Product sales	$ 1,627.3	$ 1,423.2
Royalties	79.2	62.8
Other revenues	2.8	2.4
Total revenues	1,709.3	1,488.4
Costs and expenses:
Cost of product sales	248.6	227.8
Research and development ("R&D")	217.1	193.7
Selling, general and administrative ("SG&A")	609.5	506.6
Gain on sale of product rights	(4.2)	(5.2)
Reorganization costs	3.3	15.2
Integration and acquisition costs	91.1	75.7
Total operating expenses	1,165.4	1,013.8
Operating income from continuing operations	543.9	474.6
Interest income	1	2
Interest expense	(44.7)	(9.6)
Other (expense)/income, net	(8.5)	4.3
Total other expense,net	(52.2)	(3.3)
Income from continuing operations before income taxes and equity in losses of equity method investees	491.7	471.3
Income taxes	(82.1)	(57.4)
Equity in losses of equity method investees, net of taxes	(0.1)	(1)
Income from continuing operations, net of taxes	409.5	412.9
Gain/(loss) from discontinued operations, net of taxes (in USD)	9.5	(2.5)
Net income	$ 419	$ 410.4
Earnings Per Share, Basic [Abstract]
Earnings from continuing operations (in USD per share)	$ 0.69	$ 0.70
Gain/(loss) from discontinued operations (in USD per share)	0.02	0
Earnings per ordinary share - basic (in USD per share)	0.71	0.70
Earnings Per Share, Diluted [Abstract]
Earnings from continuing operations (in USD per share)	0.69	0.69
Gain/(loss) from discontinued operations (in USD per share)	0.02	0
Earnings per ordinary share - diluted (in USD per share)	$ 0.71	$ 0.69
Weighted average number of shares:
Basic (in shares)	591.7	589.1
Diluted (in shares)	593.3	592.7

Consolidated Statements of Inc5

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Intangible Assets (Excluding Goodwill) [Line Items]
Amortization of intangible assets	$ 134.6	$ 88.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Statement of Income and Comprehensive Income [Abstract]
Net income	$ 419	$ 410.4	$ 419
Other comprehensive income/(loss):
Foreign currency translation adjustments	24.7	(129.5)
Unrealized (loss)/gain on available-for-sale securities (net of taxes of $nil and $nil)	(0.3)	0.7
Comprehensive income	443.4	$ 281.6
Components of accumulated other comprehensive income
Foreign currency translation adjustments	(157.4)		(182.1)
Unrealized loss on available-for-sale securities, net of taxes	(2)		(1.7)
Accumulated other comprehensive loss	$ (159.4)		$ (183.8)

Consolidated Statements of Com7

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Income and Comprehensive Income [Abstract]
Unrealized holding (loss)/gain on available-for-sale securities, tax	$ 0	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - 3 months ended Mar. 31, 2016 - USD ($) shares in Millions, $ in Millions	Total	EBT	Common stock	Additional paid-in capital	Treasury stock	Treasury stockEBT	Accumulated other comprehensive loss	Retained earnings	Retained earningsEBT
As at Dec. 31, 2015	$ 9,829.1		$ 58.9	$ 4,486.3	$ (320.6)		$ (183.8)	$ 5,788.3
Shares as at Dec. 31, 2015	601.1		601.1
Net income	$ 419							419
Other comprehensive income, net of tax	24.4						24.4
Options exercised	0.1		$ 0.1
Option exercised (in shares)			0.1
Share-based compensation	18.3			$ 18.3
Tax benefit associated with exercise of stock options (in US dollar)	3.2			3.2
Shares released by employee benefit trust to satisfy exercise of stock options		$ 0.6				$ 17.8			$ (17.2)
As at Mar. 31, 2016	$ 10,294.7		$ 59	$ 4,507.8	$ (302.8)		$ (159.4)	$ 6,190.1
Shares as at Mar. 31, 2016	601.2		601.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 419	$ 410.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	168.9	120.6
Share-based compensation	18.3	15.3
Change in fair value of contingent consideration	11.4	2.4
Unwind of inventory fair value step-up	12.8	11.2
Movement in deferred taxes	(10.1)	16.6
Gain on sale of product rights	(4.2)	(5.2)
Other, net	9.7	2.1
Changes in operating assets and liabilities:
Increase in accounts receivable	(100.9)	(85.1)
Iincrease/(decrease) in sales deduction accruals	73.6	(24.6)
Increase in inventory	(32.2)	(22)
(Increase)/decrease in prepayments and other assets	(22.2)	42.4
(Decrease)/increase in accounts and notes payable and other liabilities	(154.6)	77.5
Net cash provided by operating activities	389.5	561.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Movements in restricted cash	64.8	(14.5)
Purchases of businesses, net of cash acquired	(5,692.8)	(5,199.7)
Purchases of non-current investments and PP&E	(51.6)	(22.3)
Proceeds from short-term investments	0	54.5
Proceeds from sale of product rights	3	3.9
Proceeds from disposal of non-current investments	0	0.9
Other, net	2.5	0
Net cash used in investing activities	(5,674.1)	(5,177.2)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long-term and short-term borrowings	6,305	2,230
Repayment of revolving line of credit, long term and short term borrowings	(995.1)	(535.2)
Facility arrangement fee	(93.8)	(3.3)
Contingent consideration payments	(2.1)	(2.4)
Excess tax benefit associated with exercise of stock options	3.2	19.9
Other, net	(0.1)	0.1
Net cash provided by financing activities	5,217.1	1,709.1
Effect of foreign exchange rate changes on cash and cash equivalents	1	(1.6)
Net decrease in cash and cash equivalents	(66.5)	(2,908.1)
Cash and cash equivalents at beginning of period	135.5	2,982.4
Cash and cash equivalents at end of period	69	74.3
Supplemental information associated with continuing operations:
Interest paid	(13.9)	(5)
Income taxes repaid		$ 48.8
Income taxes (paid)/repaid,net	$ (89.6)

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1 . Summary of Significant Accounting Policies (a) Basis of Presentation These interim financial statements of Shire plc and its subsidiaries (collectively “Shire” or the “Company”) are unaudited. They have been prepared in accordance with generally accepted accounting principles in the Unite d States of America (“US GAAP”). The balance sheet as of December 31, 201 5 was derived from audited financial statements but does not include all disclosures required by US GAAP. These interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 201 5 . Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted from these interim financial statements. However, these interim financial statements include all adjustments, consisting of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period and the Company believes that the disclosures are adequate to make the information presented not misleading. Interim results are not necessarily indicative of results to be expected for the full year . (b) Use of Estimates The preparation of financial statements, in conformity with US GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenues and expenses, and related disclosure of contingent assets and liabilities. Estimates and assumptions are primarily made in relation to the valuation of intangible assets, sales deductions, income taxes (including provisions for uncertain tax positions and the realization of deferred tax assets), provisions for litigation and legal proceedings, contingent consideration receivable from product divestments and contingent consideration payable in respect of business combinations and asset purchases. On an on-going basis the Company evaluates its estimates, judgments and methodologies. Actual results may differ from these estimates under different assumptions or conditions. (c ) New A ccounting P ronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ( “ FASB ” ) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company's financial position or results of operations upon adoption. Adopted during the current period R eporting requirements for development stage entities In June 2014 the FASB simplified the existing guidance for development stage entities by removing all incremental financial reporting requirements and the exception available for development stage entities when determining whether the development stage entity is a variable interest entity . The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. Shire adopted this guidance as of January 1, 2016. The adoption of this guidance did not impact the Company's consolidated financial position, results of operations or cash flows. Debt Issuance Costs In April 2015, the FASB issued a new standard that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued additional guidance which clarified that debt issuance costs related to line-of-credit arrangements can be presented in the balance sheet as an asset and amortized over the term of the line-of-credit arrangement. The recognition and measurement guidance for debt issuance costs were not affected by these amendments. Shire adopted this guidance as of January 1, 2016 with retroactive application . The Short-term borrowings and Long-term borrowings line items in the Consolidated Balance Sheets and related footnote disclosures for all periods presented have been adjusted. The adoption of this guidance did not impact the Company's results of operations or cash flows . Cloud Computing Arrangement In April 2015, the FASB issued guidance to simplify the accounting for fees paid in a cloud computing arrangement. Under the standard, if a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the arrangement should be accounted for as a service contract. Shire adopted this guidance as of January 1, 2016 with prospective application. The adoption of this guidance did not impact the Company's consolidated financial position, results of operations or cash flows . Measurement-Period Adjustments In September 2015 the FASB issued guidance to simplify the accounting for adjustments related to business combinations arising within one year of the acquisition. The new standard requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the ad justment amounts are determined and record the effect on earnings of those changes as if the accounting had been completed at the acquisition date, and sets forth new disclosure requirements related to the adjustments. Shire adopted this guidance as of January 1, 2016 with prospective application. The adoption of this guidance did not impact the Company's consolidated financial position, results of operations or cash flows. To be adopted in future periods Revenue from Contracts with Customers In May 2014 the FASB issued new accounting guidance for recognizing revenue from contracts with customers. This new standard supersedes all existing revenue recognition requirements, including mo st industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. The new standard also requires additional qualitative and quantitative disclosures. In August 2015, the FASB issued additional guidance that delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016 , the FASB issued additional guidance on when and how much revenue to recognize when another party (an agent), along with the entity, is involved in providing a good or a service to a customer. In April 2016, the FASB issued additional guidance on accounting for licenses of intellectual property and identifying performance obligations. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. Leases In February 2016 , the FASB issued new accounting guidance that will require the recognition of all lease assets and lease liabilities by lessees and sets forth new disclosure requirements for those lease assets and liabilities . This standard is effective for the Company as of January 1, 2019. Early adoption is permitted. The Company is currently evaluating the potential impact on its financial position and results of operations of adopting this guidance. Share-Based Payment Accounting In March 2016 , t he FASB issued an update which involve s several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The se amendments are effective for the Company as of January 1, 2017 . Early adoption is permitted. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance .

Business Combinations

Business Combinations	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Combination Disclosure	2 . Business C ombinations Proposed combination with Baxalta On January 11, 2016 Shire announced the proposed combination with Baxalta . Under the terms of the merger agreement, Baxalta shareholders will receive $18.00 in cash and 0.1482 Shire American Depository Shares (“ ADSs ”) per Baxalta share , or if they properly elect, 0.4446 Shire ordinary shares per Baxalta share . Based on Shire's closing ADS price on January 8, 2016, this implies a total value of $45.57 per Baxalta share, representing an aggregate consideration of approximately $32 billion. Baxalta is a global biopharmaceutical company that focuses on developing, manufacturing and commercializing therapies for orphan diseases and underserved conditions in hematology, oncology and immunology. Closing of the transaction is subject to approval by Shire and Baxalta shareholders, certain regulatory approvals, redelivery of tax opinions initially delivered at signing and other customary closing conditions and representations. The Company expects the transaction to close in early June 2016. Acquisition of Dyax On January 22, 2016 Shire acquired all of the outstanding common stock of Dyax for $37.30 per share in cash. Under the terms of the merger agreement , Dyax shareholders may receive additional value through a non-tradable contingent value right worth $4.00 per share, payable generally upon US Food and Drug Administration (“ FDA ”) approval of SHP643 (formerly DX-2930) in Hereditary Angioedema (“HAE”) . Dyax was a publicly- traded, Massachusetts-based rare disease biopharmaceutical company primarily focused on the development of plasma kallikrein ( “ pKal ” ) inhibitors for the treatment of HAE. Dyax's most advanced clinical prog ram is SHP643 , a Phase 3 program with the potential for improved efficacy and convenience for HAE patients. SHP643 has received F ast T rack, B reakthrough Therapy, and Orphan Drug designations by the FDA and has also received Orphan Drug status in the EU. Dyax also brings a marketed product, KALBITOR, a p K al inhibitor for the treatment of acute attacks of HAE in patients 12 years of age and older. The acquisition of Dyax was accounted for as a business combination using the acquisition method. The preliminary acquisition-date fa ir value consideration is $6,33 0 . 0 million, comprisin g cash paid on closing of $5,93 4.0 million and the preliminary fair value of the contingent value right of $396.0 million (maximum payable $646.0 million). The assets acquired and the liabilities assumed from Dyax have been recorded at their preliminary fair value as of January 22, 2016 , the date of acquisition. The Company's unaudited consolidated financial statements included the results of Dyax as of January 22, 2016. The amount of Dyax's post-acquisition revenues and pre-tax losses included in the Company's unaudited c onsolidated s tatement of i ncome for the three month s ended March 31, 2016 were $ 10.6 million and $ 55.8 million respectively. The pre-tax loss includes charges on the unwind of inventory fair value adjustments of $ 1.1 million, intangible assets amortization of $ 5.8 million and integration costs of $ 21.0 million. The Company's preliminary allocation of the purchase price to the assets acquired and liabilities assumed is outlined below: Fair value $’M ASSETS Current assets: Cash and cash equivalents 241.2 Accounts receivable, net 13.3 Inventories 20.2 Other current assets 8.1 _______________ Total current assets 282.8 Non-current assets: Property, plant and equipment, net 5.8 Goodwill 2,729.5 Other intangible assets, net - Currently marketed products 135.0 - In-Process Research and Development (“IPR&D”) 4,100.0 -Contract based royalty arrangements 425.0 Other non-current assets 28.3 _______________ Total assets 7,706.4 _______________ LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses 30.0 Other current liabilities 1.7 Non-current liabilities: Deferred tax liability 1,343.3 Other non-current liabilities 1.4 _______________ Total liabilities 1,376.4 _______________ Preliminary fair value of identifiable assets acquired and liabilities assumed 6,330.0 _______________ Consideration Preliminary fair value of purchase consideration 6,330.0 (a) Currently marketed product Other intangible assets totaling $135.0 million relate to intellectual property rights acquired for Dyax's curre ntly marketed product, KALBITOR. The fair value of the currently marketed product has been estimated using an income approach, based on the present value of incremental after tax cash flows attributable to KALBITOR . The estimated useful life of the KALBITOR intangible asset is 18 years, with amortization being recorded on a straight-line basis. (b) Other intangible assets – IPR&D The IPR&D asset of $4,100.0 million relates to Dyax's clinical program SHP643, a Phase 3 program with the potential for improved efficacy and convenience for HAE patients. The fair value of this IPR&D asset was estimated based on an income approach, using the present value of incremental after tax cash flows expected to be generated by this development project . The estimated cash flows have been probability adjusted to take into account the stage of completion and the remaining risks and uncertainties surrounding the future development and commercialization. The valuation of IPR&D has been based on information available at the time of the acquisition (and information obtained during the measurement period) and on expectations and assumptions that ( i ) have been deemed reasonable by the Company's management and (ii) are based on information, expectations and assumptions that would be available to a market participant. The estimated probability adjusted after tax cash flows used to estimate the fair value of other intangible assets have been discounted at 9 %. (c) Other intangible assets – Royalty rights Other intangible assets totaling $425.0 million relate to royalty rights arising from licensing agreements of a portfolio of product candidates. This portfolio includes two approved products, marketed by Eli Lilly & Company , and various development- stage products . M ultiple product candidates with other pharmaceutical companies are in various stages of clinical development for which the Company is eligible to receive future royalties and/or milestone payments . The fair value of these royalty rights is preliminary and has been estimated using an income approach, based on the present value of i ncremental after- tax cash flows attributable to each royalty right. The estimated useful lives of these royalty rights range from seven to nine years (weighted average eight years) , with amortization being recorded on a straight-line basis. ( d ) Goodwill Goodwill of $2, 729. 5 million, which is not deductible for tax purposes, includes the expected synergies that will result from combini ng the operations of Dyax with Shire, particularly those synergies expected to be realized due to Shire's structure; intangible assets that do not qualify for separate recognition at the time of the acquisition; the v alue of the assembled workforce; and impacted by establishing a deferred tax liabilit y for the acquired identifiable intangible assets which have no tax basis. In the three months ended March 31, 2016 the Company expensed $ 51. 7 million relating to the acquisition and integration of Dyax , which have been recorded within Integration and acquisition costs in the Company's C onsolidated S tatement of I ncome . Supplemental disclosure of pro forma information The following unaudited pro forma financial information presents the combined results of the operations of Shire and Dyax as if the acquisition of Dyax had occurred as of January 1, 201 5 . The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the acquisition been completed at the date indicated. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company. 3 Months Ended March 31, 2016 2015 $’M $’M _______________ _______________ Revenues 1,715.3 1,508.8 Net income from continuing operations 401.6 279.0 _______________ _______________ Per share amounts: Net income from continuing operations per share - basic $0.68 $0.47 Net income from continuing operations per share - diluted $0.68 $0.47 _______________ _______________ T he purchase price allocation is preliminary pending final determination of the fair values of certain assets and liabilities. In particular , the fair values of inventories, intangible assets and current and deferred taxes are preliminary pending receipt of the final valuations for those items. The final determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date. T he unaudited pro forma financial information above reflects the following pro forma adjustments: an adjustment to decrease net income by $ 99.2 million for the three months ended March 31 , 2015 to reflect acquisition costs incurred by Shire and Dyax , and increase net income by $ 99.2 million for the three months ended March 31 , 2016 to eliminate acquisition costs incurred ; an adjustment to decrease net income by $ 0.7 million for the three months ended March 31, 2015 to reflect amortization of the fair value adjustments for inventory as inventory is sold; an adjustment to increase amortization expense by approximately $ 1.3 million and $5.4 million for the three months ended March 31 , 2016 and March 31 , 2015, respectively, related to the identifi able intangible assets acquired; and an adjustment of $ 20.4 million in the three months ended March 31 , 201 5 to record interest expense associated with the debt incurred to partially fund the acquisition of Dyax and the amortization of related deferred debt issuance costs . T he adjustments above are stated net of their tax effects , where applicable. Acquisition of NPS On February 21, 2015 Shire completed its acquisition of all of the outstanding common stock of NPS. As of the acquisition date, fair value of the cash consideration paid on closing was $5,2 20 million. The acquisition of NPS added GATTEX/REVESTIVE and NATPARA/NATPAR to Shire's portfolio of currently marketed products. GATTEX/REVESTIVE is approved in the US and EU for the treatment of adults with short bowel syndrome (“SBS”) who are dependent on parenteral support , a rare and potentially fatal gastrointestinal disorder . NATPARA/NATPAR is approved in the US and indicated as an adjunct to calcium and vitamin D to control hypocalcemia in patients with hypoparathyroidism (“HPT”), a rare endocrine disease. The acquisition of NPS was accounted for as a business combination using the acquisition method. The assets acquired and the liabilities assumed from NPS have been recorded at their estimated fair values at the date of acquisition, February 21, 2015. The Company's consolidated financial statements include the results of NPS from February 21, 2015. The purchase price allocation for the acquisition of NPS was finalized in the fourth quarter of 2015. The Company's allocation of the purchase price to the estimated fair value of assets acquired and liabilities assumed is outlined below: Fair value $’M ASSETS Current assets: Cash and cash equivalents 41.6 Short-term investments 67.0 Accounts receivable 33.4 Inventories 89.4 Other current assets 11.1 _______________ Total current assets 242.5 Non-current assets: Property, plant and equipment, net 4.8 Goodwill 1,551.0 Other intangible assets - currently marketed products 4,640.0 - royalty rights (categorized as "Other amortized intangible assets" ) 353.0 _______________ Total assets 6,791.3 _______________ LIABILITIES Current liabilities: Accounts payable and other current liabilities 75.7 Short-term debt 27.4 Non-current liabilities: Long-term debt, less current portion 78.9 Deferred tax liabilities 1,385.2 Other non-current liabilities 4.5 _______________ Total liabilities 1,571.7 _______________ Fair value of identifiable assets acquired and liabilities assumed 5,219.6 Consideration _______________ Cash consideration paid 5,219.6 _______________ (a) Other intangible assets – C urrently marketed products Other intangible assets totaling $4,6 4 0.0 million relate to intellectual property rights of NATPARA/NATPAR and GATTEX/REVESTIVE. The estimated fair value of the currently marketed products has been estimated using an income approach, based on the present value of incremental after tax cash flows attributable to each separately identifiable intangible asset. The estimated useful lives of the NATPARA/NATPAR and GATTEX/REVESTIVE intangible assets are 24 years, with amortization being recorded on a straight-line basis. (b) Other intangible assets – Royalty rights Other intangible assets totaling $353.0 million relate to the royalty rights arising from the collaboration agreements with Amgen Inc (“Amgen”) , Janssen Pharmaceutica N.V. (“Janssen”) and Kyowa Hakko Kirin Co. Ltd (“Kyowa Hakko Kirin”) . Amgen markets cinacalcet HCl as Sensipar in the US and as Mimpara in the EU; Janssen markets tapentadol as Nucynta in the US; and Kyowa Hakko Kirin markets cinacalcet HCI as Regpara in Japan, Hong Kong, Malaysia, Macau, Singapore, and Taiwan. NPS is entitled to royalties from the net sales of these products. The fair value of these royalty rights has been estimated using an income approach, based on the present value of incremental after tax cash flows attributable to each royalty right. The estimated useful lives of these royalty rights range from four to five years (weighted average four years) with amortization being recorded on a straight-line basis. (c) Goodwill Goodwill of $1, 551.0 million, which is not deductible for tax purposes, includes the expected synergies that will result from combining the operations of NPS with the operations of Shire; particularly those synergies expected to be realized due to Shire's structure; intangible assets that do not qualify for separate recognition at the time of the acquisition; the value of the assembled workforce ; and impacted by establishing a deferred tax liability for the acquired identifiable intangible assets which have no tax basis .

Reorganization Costs

Reorganization Costs	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Reorganization Costs Disclosure	3 . Reorganization C osts One Shire business re organization On May 2, 2013, the Company initiated a reorganization to integrate three divisions into a simplified One Shire organization to drive future growth and innovation. In 2014 , c ertain aspects of the One Shire program were temporarily suspended upon the offer by AbbVie Inc. (“ Abb V ie ”) to acquire Shire. Subsequent to the termination of AbbVie's offer in October 2014 , Shire resumed its One Shire efficiency program and relocate d over 500 positions to Lexington , Massachusetts from Chesterbrook , Pennsylvania and establish ed Lexington as the Company's US operational headquarters. In the three months ended March 31, 2016 the Company incurred reorganization costs of $ 3.3 million , relating to employee termination benefits and other reorganization costs. Reorganization costs of $ 346.7 million in the aggregate have been incurred since the reorganization began in May 2013. The One Shire reorganization is now substantially complete. The liability for reorganization costs arising from the One Shire efficiency program as of March 31, 2016 is as follows : Opening liability Amount Closing liability as of January 1, charged to re- as of March 31, 2016 organization Paid/Utilized 2016 $'M $'M $'M $'M ___________ ____________ ___________ ___________ Involuntary termination benefits 15.0 3.3 (13.6) 4.7 Other reorganization costs 10.1 - (10.1) - ___________ ___________ ___________ ___________ 25.1 3.3 (23.7) 4.7 ___________ ___________ ___________ ___________ At March 31, 2016 the reorganization cost liability was recorded within accounts payable and accrued expenses .

Integration and acquisition cos

Integration and acquisition costs	3 Months Ended
	Mar. 31, 2016
IntegrationAndAcquisitionCosts[Abstract]
Integration and acquisition costs	4 . Integration and A cquisition C osts For the three months ended March 31, 2016 Shire recorded integration and acquisition costs of $ 91.1 million primarily related to the acquisition and integration of Dyax and the proposed combination with Baxalta . For the three months ended March 31, 2015 Shire recorded integration and acquisition costs of $75.7 million primarily related to the acquisition and integration of NPS .

Accounts Receivable, Net

Accounts Receivable, Net	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Accounts Receivable Disclosure	5 . Accounts R eceivable, net Accounts receivable at March 31 , 2016 of $1,312.7 million ( December 31 , 2015 : $ 1,201.2 million) , are stated at the invoiced amount and net of reserve for disco unts and doubtful accounts of $81.9 million (December 31 , 2015 : $55.8 million ) . Reserve for discounts and doubtful accounts: 2016 2015 $’M $’M _____________ _____________ As of January 1, 55.8 48.5 Provision charged to operations 149.4 80.8 Payments/credits related to sales (123.3) (82.6) _____________ _____________ As of March 31, 81.9 46.7 _____________ _____________ At March 31 , 2016 accounts receivable included $ 89.1 million (December 31 , 2015 : $ 7 9 . 0 million) related to royalty income .

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventory Disclosure	6. Inventories I nventories are stated at the lower of cost or market. Inventories comprise : March 31, December 31, 2016 2015 $’M $’M ____________ ____________ Finished goods 180.1 184.9 Work-in-progress 353.6 302.0 Raw materials 146.3 148.5 ____________ ____________ 680.0 635.4 ____________ ____________

Results of discontinued operati

Results of discontinued operations	3 Months Ended
	Mar. 31, 2016
DiscontinuedOperationsAndDisposalGroupsAbstract
Results of discontinued operations Disclosure	7. Results of D iscontinued O perations Following the sale of the Company's DERMAGRAFT business in January 2014, the operating results associated with the DERMAGRAFT business have been classified as discontinued operations in the consolidated statements of income for all periods presented. In the three months ended March 31, 2016 and 2015, the Company recorded a gain of $ 9.5 million (net of tax of $ 5.5 million ) primarily related to reimbursement of legal costs and a loss of $ 2.5 million (net of tax of $ 1.4 million) related to costs associated with the sale , respectively.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Mar. 31, 2016
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expense and Other Assets, Current	8. Prepaid E xpenses and O ther C urrent A ssets March 31, December 31, 2016 2015 $’M $’M ______________ ____________ Prepaid expenses 72.9 35.6 Deferred financing costs 70.4 11.5 Income tax receivable 66.3 73.6 Value added taxes receivable 24.2 18.2 Other current assets 80.6 58.5 ______________ ______________ 314.4 197.4 ______________ ______________

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Disclosure	9 . Goodwill The following table provides a roll- forward of the changes in the goodwill balance: 2016 2015 $’M $’M ____________ ____________ As of January 1, 4,147.8 2,474.9 Acquisitions 2,729.5 1,732.7 Foreign currency translation 4.6 (28.9) ____________ ____________ As of March 31, 6,881.9 4,178.7 ____________ ____________ The increase in goodwill during the three months ended March 31, 2016 was related to our acquisition of Dyax . For a more detailed description of this transaction, please see Note 2 , Business Combinations , to these Unaudited C onsolidated F inancial S tatements .

Other Intangible Assets, Net

Other Intangible Assets, Net	3 Months Ended
	Mar. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Other Intangible Assets Disclosure	10. Other I ntangible A ssets, net March 31, December 31, 2016 2015 $’M $’M ________________ ________________ Amortized intangible assets Acquired intellectual property ("IP") rights for marketed products 9,507.2 9,371.9 Other intangible assets 800.0 375.0 ________________ ________________ 10,307.2 9,746.9 Unamortized intangible assets Acquired IP rights for in-process research and development ("IPR&D") 5,462.0 1,362.0 ________________ ________________ 15,769.2 11,108.9 Less: Accumulated amortization (2,053.6) (1,935.6) ________________ ________________ 13,715.6 9,173.3 ________________ ________________ Other intangible assets p rimarily are comprised of royalty rights associated with NPS and Dyax . As of March 31, 2016 a ccumulated amortization includes $ 1,938.6 million of accumulated amortization for intellectual property rights acquired for currently marketed products and $ 115.0 million for other intangible assets . As of December 31, 2015 accumulated amortization includes $ 1,852.1 million of accumulated amortization for IP rights acquired for currently marketed products and $ 83 .5 million for other intangible assets . The change in the net book value of intangible assets for the three months ended March 31 , 2016 and 201 5 is shown in the table below: Intangible Assets 2016 2015 $’M $’M ________________ ________________ As of January 1, 9,173.3 4,934.4 Acquisitions 4,660.9 5,198.0 Amortization charged (134.6) (88.3) Foreign currency translation 16.0 (64.1) ________________ ________________ As of March 31, 13,715.6 9,980.0 ________________ ________________ In connection with our acquisition of Dyax on January 22, 201 6 , the Company acquired IP rights related to marketed products of $135 million, IPR&D assets of $4,100 million and royalty rights intangible of $42 5 million. For a more detailed description of this transaction, please see Note 2 , Business Combinations , to these Unaudited C onsolidated F inancial S tatements. Selling, general and administrative costs include amortization of intangible assets relating to intellectual property rights acquired of $134.6 million for the three months ended March 31, 2016 (2015 : $88.3 million). The Company reviews its amortized intangible assets for impairment whenever events or circumstances suggest that their carrying value may not be recoverable. Unamortized intangible assets are reviewed for impairment annually or whenever events or circumstances suggest that their carrying value may not be recoverable.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts Payable and Accrued Expenses Disclosure	11. Accounts payable and accrued expenses March 31, December 31, 2016 2015 $’M $’M ________________ ________________ Accrued rebates – Medicaid 648.4 632.2 Accrued rebates – Managed care 395.2 350.2 Trade accounts payable and accrued purchases 334.5 336.3 Sales return reserve 130.1 128.3 Accrued employee compensation and benefits payable 95.3 102.5 R&D accruals 60.0 65.3 Accrued bonuses 43.2 152.0 Other accrued expenses 271.5 283.8 ________________ ________________ 1,978.2 2,050.6 ________________ ________________

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2016
Other Liabilities, Current [Abstract]
Other Current Liabilities	12. Other C urrent L iabilities March 31, December 31, 2016 2015 $’M $’M _____________ _____________ Income taxes payable 66.6 73.5 Value added taxes 22.1 21.8 Contingent consideration payable 19.6 19.5 Other current liabilities 48.8 29.2 _____________ _____________ 157.1 144.0 _____________ _____________

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Borrowings Disclosure	13 . Borrowings March 31, December 31, 2016 2015 $’M $’M _____________ _____________ Short term borrowings: Borrowings under the Revolving Credit Facilities Agreement (the “RCF”) 1,210.0 750.0 Borrowings under the November 2015 Facilities Agreement 987.5 - Borrowings under the January 2015 Facilities Agreement - 750.0 Secured non-recourse debts 13.8 11.5 _____________ _____________ 2,211.3 1,511.5 Long term borrowings: Borrowings under the November 2015 Facilities Agreement 4,589.7 - Secured non-recourse debts 64.3 69.9 _____________ _____________ 6,865.3 1,581.4 _____________ _____________ For a more detailed description of the various financing agreements discussed below, please see Note 16, Borrowings, of the Company's Annual Report on Form 10-K for the year ended December 31, 2015. Revolving Credit Facilities Agreement On December 12, 2014, Shire entered into a $2,100 million revolving credit facilities agreement (the “RCF”) with a number of financial institutions . As of March 31, 201 6 the Company utilized $ 1,210 million of the RCF. The RCF, which terminates on December 12, 2020, may be used for financing the general corporate purposes of Shire. The RCF incorporates a $250 million US dollar and E uro swingline facility operating as a sub-limit thereof. Term Loan Facilities Agreement s January 2016 Facilities Agreement On January 11, 2016, Shire entered into an $18.0 billion bridge facilities agreement (the “January 2016 Facilities Agreement”) with, among others, Barclays Bank PLC and Morgan Stanley Bank International Limited, acting as mandated lead arrangers and book runners . The January 2016 Facilities Agreement comprises two credit facilities: ( i ) a $13.0 billion term loan facility which, subject to a one year extension option exercisable at Shire's option, matures on January 11, 2017 ("January 2016 Facility A") and (ii) a $5.0 billion revolving loan facility which, subject to a one year extension option exercisable at Shire's option, matures on January 11, 2017 ("January 2016 Facility B"). As of March 31 , 2016, the January 2016 Facilities Agreement was undrawn . January 2016 Facility A may be used to finance the cash consideration payable and certain costs related to the proposed combination with Baxalta . January 2016 Facility B may be used to finance the redemption of all or part of Baxalta's senior notes upon completion of the proposed combination . November 2015 Facilities Agreement On November 2, 2015, Shire entered into a $5.6 billion facilities agreement (the “November 2015 Facilities Agreement”). The November 2015 Facilities Agreement comprises three credit facilities: ( i ) a $1.0 billion term loan facility which, subject to a one year extension option exercisable at Shire's option, matures on November 2, 2016 (“November 2015 Facility A”), (ii) a $2.2 billion amortizing term loan facility which matures on November 2, 2017 (“November 2015 Facility B”) and (iii) a $2.4 billion amortizing term loan facility which matures on November 2, 20 18 (“November 2015 Facility C”) . As of March 31, 2016, the November 2015 Facilities Agreement was utilized in full to finance the cash consideration payable and certain costs related to Shire's acquisition of Dyax . January 2015 Facilities Agreement On January 11, 2015, Shire entered in to an $850 million term facilities agreement with, among others, Ci tigroup Global Markets Limited acting as mandated lead arranger and b ookrunner (the “January 2015 Facilit ies Agreement”) with an original maturity date of January 10, 2016. The maturity date was subsequently extended to July 11, 2016 in line with the provisions within the January 2015 Facilit ies Agreement allowing the maturity date to be extended twice, at Shire's option, by six months on each occasion. The January 2015 Facilit ies Agreement was utilized to finance the purchase price paid in respect of Shire's acquisition of NPS (including certain related costs). On September 28, 2015 the Company reduced the January 2015 Facilit ies Agreement by $100 million. In January 2016 and at various points thereafter, the Company cancelled parts of the January 2015 Facilit ies Agreement. On February 22, 2016, the Company repaid the remaining balance of $100 million of the January 2015 Facilit ies Agreement in full . Short - term uncommitted lines of credit (“Credit lines”) Shire has access to various Credit lines from a number of banks which provide flexibility to short - term cash management procedures. These Credit lines can be withdrawn by the banks at any time. The Credit lines are not relied upon for core liquidity. As of March 3 1 , 201 6 these Credit lines were not utilized .

Other Non-current Liabilities

Other Non-current Liabilities	3 Months Ended
	Mar. 31, 2016
Other Liabilities, Noncurrent [Abstract]
Other non-current Liabilities Disclosure	14. Other non-current liabilities March 31, December 31, 2016 2015 $’M $’M ____________ ____________ Contingent consideration payable 862.9 456.4 Income taxes payable 201.2 195.8 Other non-current liabilities 152.6 146.6 ____________ ____________ 1,216.7 798.8 ____________ ____________

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	15 . Commitments and C ontingencies (a) Leases Future minimum lease payments under operating leases as of March 31, 2016 are presented below: Operating leases $’M _____________ 2016 1 36.5 2017 1 39.8 2018 1 33.5 2019 1 30.7 2020 1 30.8 2021 29.2 Thereafter 1 156.5 111 _____________ 357.0 _____________ The Company leases land, facilities, motor vehicles and certain equipment under operating leases expiring through 20 32 . Lease and rental expense amounted to $ 7.5 million and $ 14.2 million for the three months ended March 31, 2016 and 2015 respectively , which is predominately included in SG&A expenses in the Company's Unaudited Consolidated Statement of Income . (b) Letters of credit and guarantees At March 31 , 2016 , the Company had irrevocable standby letters of credit and guarantees with various banks and insurance companies totaling $ 6 0 .0 m illion (being the contractual amounts) , providing security for the C ompany's performance of various obligations. These obligations are primarily in respect of the recoverability of insurance claims, lease obligations and supply comm itments. (c) Collaborative and other licensing arrangements Details of significant updates in other licensing arrangements are included below: L icensing arrangements The Company ha s entered into various collabora tive and licensing arrangements where it has licensed certain product or intellectual property rights for consideration such as up-front payments, development milestones, sales milestones and/or royalty payments. In some of these arrangements Shire and the licensee are both actively involved in the development and commercialization of the licensed product and have exposure to risks and rewards dependent on its commercial success. Under the terms of these collaborative and licensing arrangements, the Company may receive development milestone payments up to an aggregate amount of $ 3 2 million and sales milestones up to an aggregate amount of $ 4 2 million . The receipt of these substantive milestones is uncertain and contingent on the achievement of certain development milestones or the achievement of a specified level of annual net sales by the licensee . In the three months ended March 31, 2016 the Company received cash related to up-front and milestone payments of $ 0.5 million (2015 : $ 12 . 6 million ). In the three months ended March 31, 2016 the Company recognized milestone income of $ 1 . 3 million (2015 : $ 0.5 million) in o ther revenues and $ 15 . 1 million (2015 : $ 9 . 2 million ) in p roduct sales for shipment of product to the relevant licensee. (d) Commitments ( i ) Clinical testing At March 31, 2016 the Company had committed to pay approximately $ 584 million (December 31, 2015 : $ 490 million) to contract vendors for administering and executing clinical trials. The timing of these payments is dependent upon actual services performed by the organizations as determined by patient enrollment levels and related activities. (ii) Contract manufacturing At March 31, 2016 the Company had committed to pay approximately $ 334 million (December 31, 2015 : $ 325 million) in respect of contract manufacturing. The Company expects to pay $ 159 million of these commitments in 201 6 . (iii) Other purchasing commitments At March 31, 2016 the Company had committed to pay approximately $ 581 million (December 31, 2015 : $ 485 million) for future purchases of goods and services, predominantly relating to active pharmaceutical ingredients sourcing. The Company expects to pay $ 575 million of these commitments in 201 6 . (iv) Investment commitments At March 31, 2016 the Company had outstanding commitments to purchase common stock and interests in companies and partnerships , respectively, for amounts totaling $ 22 million (December 31, 2015 : $ 22 million) which may all be payable in 201 6 , depending on the timing of capital calls. The investment commitments include additional funding to certain VIE s that Shire is not the primary beneficiary. (v) Capital commitments At March 31, 2016 the Company had committed to spend $ 43 million (December 31, 2015 : $ 60 million) on capital projects. (e) L egal and other proceedings The Company expenses legal costs when incurred. The Company recognizes loss contingency provisions for probable losses when management is able to reasonably estimate the loss. When the estimated loss lies within a range, the Company records a loss contingency provision based on its best estimate of the probable loss. If no particular amount within that range is a better estimate than any other amount, the minimum amount is recorded. Estimates of losses may be developed before the ultimate loss is known, and are therefore refined each accounting period as additional information becomes known. In instances where the Company is unable to develop a reasonable estimate of loss, no loss contingency provision is recorded at that time. As information becomes known a loss contingency provision is recorded when a reasonable estimate can be made. The estimates are reviewed quarterly and changed when expectations are revised. An outcome that deviates from the Company's estimate may result in an additional expense or release in a future accounting period. At March 31, 2016 , reserve for litigation losses, insurance claims and other disputes totaled $ 25.0 million ( December 31, 2015 : $ 9.9 million) . The Company's principal pending legal and other proceedings are disclosed below. The outcomes of these proceedings are not always predictable and can be affected by various factors. For those legal and other proceedings for which it is considered at least reasonably possible that a loss has been incurred, the Company discloses the possible loss or range of possible loss in excess of the recorded loss contingency provision, if any, where such excess is both material and estimable. VYVANSE In May and June 2011, Shire was notified that six separate Abbreviated New Drug Applications ("ANDAs") were submitted under the Hatch-Waxman Act seeking permission to market generic versions of all approved strengths of VYVANSE. The notices were from Sandoz, Inc. ("Sandoz"); Amneal Pharmaceuticals LLC (" Amneal "); Watson Laboratories, Inc .; Roxane Laboratories, Inc. ("Roxane"); Mylan Pharmaceuticals, Inc. (“ Mylan ”); and Actavis Elizabeth LLC and Actavis Inc. (collectively, " Actavis "). Since filing suit against these ANDA filers, along with API suppliers Johnson Matthey Inc. and Johnson Matthey Pharmaceuticals Materials (collectively “Johnson Matthey”), Shire has been engaged in a consolidated patent infringement litigation in the US District Court for the District of New Jersey against the aforementioned parties (except Watson, who withdrew their ANDA). On June 23, 2014, the US District Court for the District of New Jersey granted Shire's summary judgment motion holding that 18 claims of the patents-in-suit were both infringed and valid. On September 24, 2015, the US Court of Appeals of the Federal Circuit (“CAFC”) affirmed that ruling against all of the ANDA filers and remanded the case to the trial court for further proceedings in which Shire expects the court to impose an injunction preventing all of the ANDA filers (Sandoz, Roxane, Amneal , Actavis and Mylan ) from launching generic versions of VYVANSE until the expiration of these patents in 2023. The CAFC ruling overturned the infringement ruling against Johnson Matthey and the case against Johnson Matthey has been dismissed. On March 24, 2016, Shire received a Notice of Allegation (“NOA”) from Apotex Inc. (“ Apotex ”) informing us that Apotex filed an Abbreviated New Drug Submission (“ANDS”) with Health Canada seeking approval to market a generic version of VYVANSE in Canada. Shire is reviewing the contents of the NOA and if Shire applies for an order of prohibition within 45 days of the NOA, a 24-month stay of approval of the ANDS will be put into effect . On April 14, 2016, Shire prevailed in upholding its European patent for ELVANSE. Shire initially prevailed in an opposition to its patent lodged by Jo hnson Matthey plc, Generics [UK] Limited (trading as Mylan ) and Hexal AG and on April 14, 2016 Shire prevailed in the appeal. The decision by the appeals board of the European Patent Office is final and cannot be further appealed. LIALDA In M a y 2010 , S h ire w as no t if i e d t h at Z ydu s Ph a rm ac eu tica l s U SA , I n c. ( “ Zydus ”) h ad subm itted an A N D A und er t h e Hat ch-Waxm an Ac t s e ekin g p e rm i ss ion to m a rk et a g e n e r ic v e rs ion o f LI A LDA . W i th in t h e re quis ite 45-da y p e r i od , S h ire f iled a l awsu it i n th e US Di s trict Cou rt fo r t h e Di s tr i ct o f Del aw a r e a g a ins t Z ydu s a n d C a d ila H eal th care L im it ed , do i n g busin ess a s Z ydu s C a d i l a . A Ma rkm an h ear in g to o k p lace o n J a nu a r y 2 9, 201 5 a n d a Mar kma n ru ling wa s issu ed o n Ju ly 2 8, 2015 . A trial took place between March 28 , 2016 and April 1 , 2016 and a decision is not expected before September 2016. In Fe b r u a r y 2012 , S h ire wa s no ti f ied t h at Osmot ica Ph a rm a c e u tical Co r po rati o n (“ Osmotica ”) h ad subm itted a n AND A und er th e Hat ch-Waxm an A ct s e ekin g p e rm i ss ion t o m a rk et a gen e r ic v e rs ion o f LI A LDA . W i thi n th e re qu i sit e 45-d ay p e r io d , S h ire f iled a lawsui t in th e US D i s trict Cou rt fo r t h e N o rt h e r n D i s trict o f Ge o r g ia ag a ins t Osmot ica . A Mar kma n h earing to o k p lace o n A ugus t 2 2, 201 3 a n d a Mar km an r u l in g wa s issu ed o n S e p t emb er 2 5, 2014 . Th e c ou rt i ssu ed an Or d er o n Fe b r u a r y 2 7, 201 5 in wh ich all d ates i n th e schedu ling o r d er h a v e b een s t ay e d . In March 2012 , S h ire w as no ti f ied th at W atson L a bo rat o ries I n c . —Florida h ad submi tt e d an AND A und er t h e Hatc h-W a xma n A ct s e ek ing p e rmiss ion to m a rk et a gen e r ic v e rs ion o f LI A LDA . W it hi n the re qu i s ite 45-da y p e r io d , S h i r e f iled a l awsu it i n t h e US Di s trict Cou rt fo r t h e So u t h e r n Di st rict o f Florida a g ai ns t W atson L a bo rat o ries I n c . —Florida a n d W atson Ph a rm ac eu tica ls , I n c., W atson Ph a rm a, I n c. a n d W atson L a bo rat o ries, I n c. (c o llecti v e l y “ Watson ”) w e r e subs e qu e ntl y a dd ed as d e f e nd a n t s . A trial to o k p lace in Ap ril 201 3 a n d o n May 9, 201 3 th e trial c ou rt i ssu ed a d eci s ion find ing t h at t h e p r opos ed g e n e r ic produ ct i nf rin g es th e p ate nt-in - sui t a n d t h at t h e p ate n t is no t i nv ali d . W atson a pp ealed t h e trial c ou r t 's r u ling to th e C AFC an d a h earing to o k p lace o n Dec emb er 2, 2013 . Th e r u l in g o f th e CAF C wa s i ssu ed o n March 2 8, 201 4 ov e r r u li n g th e trial c ou rt o n t h e in ter p ret a tion o f tw o cla i m te rm s an d r em a ndin g th e c as e fo r f u r th er p r o cee d i ngs . S h ire p etitio n ed t h e S up r em e Cou rt fo r a wr it o f certiora r i wh i c h w as g r an ted o n J a nu a r y 2 6, 2015 . Th e S up r em e Cou rt also v acated th e C AFC d eci s i o n a n d r emand ed t h e ca s e to t h e CAF C fo r fu r th er c ons ide r ati o n in l igh t o f t h e Sup r em e Cou r t' s rece n t d eci s ion i n T e v a v S ando z. On Jun e 3, 2015 , t h e CAF C re af f irm ed t h eir p re v io u s d eci s ion t o re v e rs e th e D is trict Cou r t' s cl a im s c ons tr u cti on a nd remanded the case to the US District Court for the Southern District of Florida. A trial was held on January 25-27 , 2016. A ruling was issued on March 28 , 2016 upholding the validity of the patent and finding that Watson's proposed ANDA product infringes the patent-in-suit. Watson appealed the ruling to the CAFC. In Ap ril 2012 , S h ire w as no ti f ied th at My l a n h ad subm itted an A N D A und er th e Hatc h-W a xma n A ct s e ek ing p e rm i ss ion to m a rk et a gen e r ic v e rs ion o f LI A LDA . W it hi n the re qu i s ite 45-da y p e r io d , S h i r e f iled a l awsu it i n th e US D ist rict Cou rt fo r th e Mi dd le D is t r ict o f Florida a g a ins t My l an . A Mar km an h ear in g to o k p la c e o n Dece mb er 2 2, 2014 . A Mar kma n ru ling wa s i ssu ed o n March 2 3, 2015 . A trial is scheduled to take place starting on September 6, 2016 . In March 2015, Shire was notified that Amneal had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA. Within the requisite 45 day period, Shire filed a lawsuit in the US District Court for the District of New Jersey against Amneal , Amneal Pharmaceuticals of New York, LLC and Amneal Pharmaceuticals Co. India Pvt. Ltd. No trial date has been set. In September 2015, Shire was notified that Lupin Ltd. had submitted an ANDA under the Hatch-Waxman Act seeking permission to market a generic version of LIALDA . Within the requisite 45 day period, Shire filed a lawsuit in the US District Court for the District of Maryland against Lupin Ltd., Lupin Pharmaceuticals Inc., Lupin Inc. and Lupin Atlantis Holdings SA. No trial date has been set. A Markman hearing is scheduled to take place on August 22, 2016. On October 7, 2015 the Patent Trial and Appeals Board (“PTAB”) of the United States Patent Office instituted an inter partes review (“IPR”) of US Patent 6,773,720 which is the patent-in-suit in the litigations referred to above. The IPR process is designed to re-assess the patentability of the claims of the patent. A decision from the PTAB is expected in October 2016. Investigation related to DERMAGRAFT The Department of Justice, including the US Attorney's Office for the Middle District of Florida, Tampa Division and the US Attorney's Office for Washington, DC, is conducting civil and criminal investigations into the sales and marketing practices of Advanced BioHealing Inc. (“ABH”) relating to DERMAGRAFT. Following the disposal of the DERMAGRAFT business in January 2014, Shire has retained certain legacy liabilities including any liability that may arise from this investigation. Shire is cooperating fully with these investigations. Shire is not in a position at this time to predict the scope, duration or outcome of these investigations. Civil Investigative Demand relating to VANCOCIN On April 6, 2012, ViroPharma Incorporated (“ ViroPharma ”) received a notification that the United States Federal Trade Commission (“FTC”) is conducting an investigation into whether ViroPharma had engaged in unfair methods of competition with respect to VANCOCIN. On August 3, 2012, and September 8, 2014, ViroPharma and Shire respectively received Civil Investigative Demands from the FTC requesting additional information related to this matter. Shire has fully cooperate d with the FTC 's investigation. At this time, Shire is unable to predict the outcome or duration of this investigation. Lawsuit related to supply of ELAPRASE to certain patients in Brazil On September 24, 2014 Shire's Brazilian affiliate, Shire Farmaceutica Brasil Ltda , was served with a lawsuit brought by the State of Sao Paulo and in which the Brazilian Public Attorney's office has intervened alleging that Shire is obligated to provide certain medical care including ELAPRASE for an indefinite period at no cost to patients who participated in ELAPRASE clinical trials in Brazil, and seeking recoupment to the Brazilian government for amounts paid for these patients to date, and moral damages associated with these claims. Shire intends to defend itself against these allegations but is not able to predict the outcome or duration of this case .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	16 . Accumulated O ther Comprehensive L oss The changes in accumulated other comprehensive loss , net of their related tax effects, in the three months ended March 31, 2016 and 2015 are included below: Foreign currency translation adjustment Unrealized holding loss on available-for-sale securities Accumulated other comprehensive loss $M $M $M As of January 1, 2016 (182.1) (1.7) (183.8) Current period change: Net current period other comprehensive income/(loss) 24.7 (0.3) 24.4 As of March 31, 2016 (157.4) (2.0) (159.4) Foreign currency translation adjustment Unrealized holding (loss)/gain on available-for-sale securities Accumulated other comprehensive loss $M $M $M As of January 1, 2015 (25.7) (5.8) (31.5) Current period change: Net current period other comprehensive (loss)/income (129.5) 0.7 (128.8) As of March 31, 2015 (155.2) (5.1) (160.3)

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instrument Detail [Abstract]
Financial Instruments Disclosure	17 . Financial I nstruments Treasury policies and organization The Company's principal treasury operations are coordinated by its corporate treasury function. All treasury operations are conducted within a framework of policies and procedures approved annually by the Board of Directors. As a matter of policy, the Company does not undertake speculative transactions that would increase its credit, currency or interest rate exposure. Interest rate risk The Company is principally exposed to interest rate risk on any borrowings under the Company's various debt facilities . As of March 31, 2016 the Company had fully utilized the November 2015 Facilit ies Agreement and utilized $ 1,210.0 million of the RCF. Following the closing of the proposed combination with Baxalta , t he Company will also be exposed to interest rate risk on any borrowings under the January 2016 Facilities Agreement which is undrawn as of Ma r ch 31, 2016 . Interest on each of these facilities is set at floating rates, to the extent utilized. Shire's exposure under these facilities is to changes in US dollar interest rates. The Company regularly evaluates the interest rate risk on its facilities. During the three months ended March 31, 2016 the Company entered into interest rate swaps with a total notional amount of $5 , 1 00 m illion related to the November 2015 Facilities Agreement to manage interest rate risk associated with movements in benchmark interest rates until various dates in the fourth quarter of 2016. As of March 31, 2016 the fair value of these cont r acts was $ 2 . 0 million presented within other current liabilities. The Company has not elected hedge accounting for these contracts. For the three months ended March 31, 2016 the Company recognized $ 2 . 0 million (2015: $nil) of interest expense related to these contracts , which was recognized as a component of interest expense . The Company is also exposed to interest rate risk on its restricted cash, cash and cash equivalents and on foreign exchange contracts on which interest is set at floating rates. This exposure is primarily limited to US dollar, Pounds S terling and Euro interest rates. As the Company maintains all of its cash, liquid investments and foreig n exchange contracts on a short- term basis for liquidity purposes, this risk is not activel y managed. In the three months ended March 31, 2016 the average interest rate received on cash and liquid investments was less than 1% per annum. These cash and liquid investments were primarily invested in US dollar term deposits with banks and money market and liquidity funds. Credit risk Financial instruments that potentially expose Shire to concentrations of credit risk consist primarily of short-term cash investments, derivative contracts and trade accounts receivable (from product sales and from third parties from which the Company receives royalties). Cash is invested in short-term money market instruments, including money market and liquidity funds and bank term deposits. The money market and liquidity funds in which Shire invests are all triple A rated by both Standard and Poor's and by Moody's credit rating agencies. The Company is exposed to the credit risk of the counterparties with which it enters into bank term deposit arrangements and derivative instruments. The Company limits this exposure through a system of internal credit limits which vary according to ratings assigned to the counterparties by the major rating agencies. The internal credit limits are approved by the Board and exposure against these limits is monitored by the corporate treasury function. The counterparties to these derivatives contracts are major international financial institutions. The Company's revenues from product sales in the US are mainly governed by agreements with major pharmaceutical wholesalers and relationships with other pharmaceutical distributors and retail pharmacy chains. For the year ended December 31, 2015 there were three customers in the US that accounted for 47 % of the Company's product sales. However, such customers typically have significant cash resources and as such the risk from concentration of credit is considered acceptable. The Company has taken positive steps to manage any credit risk associated with these transactions and operates clearly defined credit evaluation procedures. However, an inability of one or more of these wholesalers to honor their debts to the Company could have an adverse effect on the Company's financial condition and results of operations . A substantial portion of the Company's accounts receivable in countries outside of the United States is derived from product sales to government-owned or government-supported healthcare providers. The Company's recovery of these accounts receivable is therefore dependent upon the financial stability and creditworthiness of the relevant governments. In recent years global and national economic conditions have negatively affected the growth, creditworthiness and general economic condition of certain markets in which the Company operates. As a result, in some countries outside of the US , specifically, Argentina , Greece, Italy, Portugal and Spain (collectively the “Relevant Countries”) the Company is experiencing delays in the remittance of receivables due from government-owned or government-supported healthcare providers. The Company continue s to receive remittances in relation to government-owned or government-supported healthcare providers in the Relevant Countries in the three months ended March 31, 2016 , including receipts of $ 22.0 million and $ 24.3 million in respect of Spanish and Italian receivables, respectively . The Company's exposure to Greece, both in terms of gross accounts receivable and annual revenues, is not material. To date the Company has not incurred material losses on accounts receivable in the Relevant Countries, and continues to consider that such accounts receivable are recoverable. The Company will continue to evaluate all its accounts receivable for potential collection risks and has made provision for amounts where collection is considered to be doubtful. If the financial condition of the Relevant Countries or other Eurozone countries suffer significant deterioration, such that their ability to make payments becomes uncertain, or if one or more Eurozone member countries withdraws from the Euro, additional allowances for doubtful accounts may be required, and losses may be incurred, in future periods. Any such loss could have an adverse effect on the Company's financial condition and results of operations. Foreign exchange risk The Company operates in numerous countries and as a consequence has transactional and translational foreign exchange exposures. Transactional exposure arises where transactions occur in currencies different to the functional currency of the relevant subsidiary. The main operating currencies of the Company are the US dollar, Pounds Sterling, Swiss Franc , Canadian dollar and the Euro. It is the Company's policy that these exposures are minimized to the extent practicable by denominating transactions in the subsidiary's functional currency. Where significant exposures remain, the Company uses foreign exchange contracts (spot, forward and swap contracts) to manage the exposure for balance sheet assets and liabilities that are denominated in currencies different to the functional currency of the relevant subsidiary. These assets and liabilities relate predominantly to inter-company financing. The Company has not elected hedge accounting for these transactions. Cash flows from derivative instruments are presented within net cash provided by operating activities in the C onsolidated Statements of C ash F low s , unless the derivative instruments are economically hedging specific investing or financing activities. Translational foreign exchange exposure arises on the translation into US dollars of the financial statements of non-US dollar functional subsidiaries . As of March 31, 2016 the Company h ad 49 swap and forward foreign exchange contracts and 10 interest rate swaps outstanding to manage currency risk. The swap and forward contracts mature within 90 days. The Company did not have credit risk related contingent features or collateral linked to the derivatives. The Company has master netting agreements with a number of counterparties to the se foreign exchange contracts and on the occurrence of specified events, the Company has the ability to terminate contracts and settle them with a net payment by one party to the other. T he Company has elected to present derivative assets and derivative liabilities on a gross basis in the Unaudited C onsolidated B alance S heet. Further details are included below : Fair value Fair value March 31, December 31, 2016 2015 $’M $’M _____________ _____________ Assets Prepaid expenses and other current assets 3.0 1.9 Liabilities Other current liabilities 13.9 11.5 _____________ _____________ As of March 31, 2016 the potential effect of rights of set-off associated with the foreign exchange contracts would be an offset to both assets and liabilities of $2.0 million (2015: $nil) , resulting in net derivative assets and derivative liabilities of $1.0 million and $11.9 million , respectively . Net gains /( losses) (both realized and unrealized) arising on derivatives are recorded in the C onsolidated S tatements of I ncome as follows: 3 Months Ended March 31, ____________ ____________ 2016 2015 $’M $’M _____________ _____________ Foreign exchange contracts and swaps Other (expense)/income, net (24.1) 16.3 _____________ _____________

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	18. Fair V alue M easurement Assets and l iabilities that are m easured at f air v alue on a r ecurring b asis As of March 31, 2016 and December 31, 201 5 t he following financial assets and liabilities are measured at fair value on a recurring basis using quoted prices in active markets for identical assets (Level 1); significant other observable inputs (Level 2); and significant unobservable inputs (Level 3). Fair value Total Level 1 Level 2 Level 3 At March 31, 2016 $'M $'M $'M $'M ____________ ___________ ___________ ___________ Financial assets: Marketable equity securities 16.9 16.9 - - Contingent consideration receivable 15.3 - - 15.3 Derivative contracts 3.0 - 3.0 - Financial liabilities: Derivative contracts 13.9 - 13.9 - Contingent consideration payable 882.5 - - 882.5 ____________ ___________ ___________ ___________ Total Level 1 Level 2 Level 3 At December 31, 2015 $'M $'M $'M $'M ____________ ___________ ___________ ___________ Financial assets: Marketable equity securities 17.2 17.2 - - Contingent consideration receivable 13.8 - - 13.8 Derivative contracts 1.9 - 1.9 - Financial liabilities: Derivative contracts 11.5 - 11.5 - Contingent consideration payable 475.9 - - 475.9 ____________ ___________ ___________ ___________ Marketable equity securities are included within I nvestments in the Unaudited C onsolidated B alance S heet s . Contingent consideration receivable is included within Prepaid expenses and O ther current assets and o ther non-current assets in the Unaudited C onsolidated B alance S heet s . Contingent consideration payable is included within O ther current liabilities and O ther non-current liabilities in the Unaudited C onsolidated B alance S heet s . Certain estimates and judgments were required to develop the fair value amounts. The estimated fair value amounts shown above are not necessarily indicative of the amounts that the Company would realize upon disposition, nor do they indicate the Company's intent or ability to dispose of the financial instrument. The following methods and assumptions were used to estimate the fair value of each material class of financial instrument: Marketable equity securities – the fair values of marketable equity securities are estimated based on quoted market prices for those investments. Contingent consideration receivable – the fair value of the contingent consideration receivable has been estimated using the income approach (using a probability weighted discounted cash flow method). Derivative contracts – the fair values of the swap and forward foreign exchange contracts have been determined using the month -end interest rate and foreign exchange rate s, respectively . Contingent consideration payable – the fair value of the contingent consideration payable has been estimated using the income approach (using a probability weighted discounted cash flow method). Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) The following table provides a roll forward of the fair values of our contingent consideration receivable and payables which include Level 3 measurements : Contingent consideration receivable 2016 2015 $'M $'M ____________ ____________ Balance at January 1, 13.8 15.9 Change in fair value included in earnings 4.2 5.2 Reclassification out from contingencies for payment (3.0) (5.9) Currency Translation 0.3 (0.2) Balance at March 31, 15.3 15.0 Contingent consideration payable 2016 2015 $'M $'M ____________ ____________ Balance at January 1, 475.9 629.9 Additions 396.4 92.1 Change in fair value included in earnings 11.4 2.4 Reclassification out from contingencies for payment (2.0) (2.1) Other 0.8 1.7 Balance at March 31, 882.5 724.0 The increase in contingent consideration payable is related to the Company's acquisition of Dyax . Other primarily relates to foreign currency adjustments. O f the $ 882.5 million of contingent consideration payable as of March 3 1 , 201 6 , $ 19.6 million is recorded within O ther current liabilities and $ 862.9 million is recorded within O ther non-current liabilities in the Company's balance sheet . Quantitative Information about Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3) Quantitative information about the Company's recurring Level 3 fair value measurements is as follows : Financial assets: Fair Value at the Measurement Date At March 31, 2016 Fair value Valuation Technique Significant unobservable Inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration receivable 15.3 Income approach (probability weighted discounted cash flow) • Probability weightings applied to different sales scenarios • Future forecast consideration receivable based on contractual terms with purchaser • Assumed market participant discount rate • 10 to 90% • $0 to $26 million • 8.4% ____________ ____________ ____________ ____________ Financial liabilities: Fair Value at the Measurement Date At March 31, 2016 Fair value Valuation Technique Significant unobservable Inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration payable 882.5 Income approach (probability weighted discounted cash flow) • Cumulative probability of milestones being achieved • Assumed market participant discount rate • Periods in which milestones are expected to be achieved • Forecast quarterly royalties payable on net sales of relevant products • 4 to 90% • 1.2 to 12.4% • 2016 to 2030 • $2.2 to $6.6 million ____________ ____________ ____________ ____________ Contingent consideration payable represents future milestones and royalties the Company may be required to pay in conjunction with various business combinations and license agreements , respectively . The fair value of the Company's contingent consideration receivable and payable could significantly increase or decrease due to changes in certain assumptions which underpin the fair value measurements. Each set of assumptions is specific to the individual contingent consideration receivable or payable. The carrying amounts of other financial assets and liabilities approximate their estimated fair value due to their short-term nature, such as liquidity and maturity of these amounts or because there have been no significant changes since the asset or liability was last re-measured to fair value on a non-recurring basis .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share Disclosure	19 . Earnings per S hare The following table reconciles net income and the weighted average ordinary shares outstanding for basic and diluted earnings per share for the periods presented: 3 Months Ended March 31, 2016 2015 $’M $’M _________________ _________________ Income from continuing operations, net of taxes 409.5 412.9 Gain/(loss) from discontinued operations 1 9.5 (2.5) _________________ _________________ Numerator for basic and diluted earnings per share 419.0 410.4 _________________ _________________ Weighted average number of shares: Millions Millions _________________ _________________ Basic 591.7 589.1 Effect of dilutive shares: Share-based awards to employees 1.6 3.6 _________________ _________________ Diluted 593.3 592.7 _________________ _________________ Weighted average number of basic shares excludes shares purchased by the Employee Benefit Trust (“ EBT ”) and under the shares buy-back program and presented by Shire as treasury stock. Share-based awards to employees are calculated using the treasury method. The share equivalents not included in the calculation of the diluted weighted average number of shares are shown below : 3 Months Ended March 31, 2016 2015 No. of shares No. of shares Millions Millions _________________ _________________ Share-based awards to employees 4.0 1.4 _________________ _________________ Certain stock options have been excluded from the calculation of diluted Earnings per Share (“ EPS ”) because either their exer cise prices exceeded Shire's average share price during the calculation period or the required performance conditions were not satisfied as of the balance sheet date.

Segmental Reporting

Segmental Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure	20 . Segment R eporting Shire operates as one operating and reportable segment engaged in the research , development, licensing, manufacturing, marketing, distribution and sale of innovative specialist medicines to meet significant unmet patient needs. For a more detailed description of segment disclosures about products, geographic areas and major customers, please read Note 2 3 , Segment R eporting , of the Company's Annual Report on Form 10-K for the year ended December 31, 2015. In the periods set out below, revenues by major product were as follows: 3 Months Ended March 31, 2016 2015 $’M $’M ___________ ___________ VYVANSE 509.2 416.8 LIALDA/MEZAVANT 168.0 148.5 CINRYZE 164.2 148.1 FIRAZYR 128.3 92.5 ELAPRASE 123.6 125.0 REPLAGAL 103.2 97.5 ADDERALL XR 98.8 95.7 VPRIV 83.6 86.4 PENTASA 64.0 78.7 GATTEX/REVESTIVE 51.7 14.9 FOSRENOL 37.7 44.1 XAGRID 28.3 25.3 NATPARA 15.6 - KALBITOR 10.4 - INTUNIV 10.2 17.4 Other product sales 30.5 32.3 ____________ ____________ Total product sales 1,627.3 1,423.2 ____________ ____________

Taxation

Taxation	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure	21 . Taxation For t he first quarter of 2016, the effective tax rate on income from continuing operations was 17% (2015: 12%). The effective tax rate in the first quarter of 2016 on income from continuing operations is higher than the same period in 2015 primarily due to the adverse impact in the first quarter of 2016 of the one-time re-measurement of deferred tax as a result of the Dyax acquisition and the benefit of the favo rable re-measurement of uncertain tax positions in the first quarter of 2015.

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Party Disclosure	22 . Related P arties ArmaGen , Inc. (“ ArmaGen ”) is a related party as the Company owns 21% of ArmaGen common stock and the parties have a worldwide licensing and collaboration agreement to develop and commercialize AGT-182. Shire recorded R&D costs arising from the licensing and collaboration arrangement of $ 0.5 million in the three months ended March 31, 2016, of which $ 0.2 million was accrued and unpaid as of March 31, 2016 (2015: $nil).

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Basis of preparation	(a) Basis of Presentation These interim financial statements of Shire plc and its subsidiaries (collectively “Shire” or the “Company”) are unaudited. They have been prepared in accordance with generally accepted accounting principles in the Unite d States of America (“US GAAP”). The balance sheet as of December 31, 201 5 was derived from audited financial statements but does not include all disclosures required by US GAAP. These interim unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 201 5 . Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted from these interim financial statements. However, these interim financial statements include all adjustments, consisting of normal recurring adjustments, which are, in the opinion of management, necessary to fairly state the results of the interim period and the Company believes that the disclosures are adequate to make the information presented not misleading. Interim results are not necessarily indicative of results to be expected for the full year .
Use of estimates in consolidated financial statements	(b) Use of Estimates The preparation of financial statements, in conformity with US GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, equity, revenues and expenses, and related disclosure of contingent assets and liabilities. Estimates and assumptions are primarily made in relation to the valuation of intangible assets, sales deductions, income taxes (including provisions for uncertain tax positions and the realization of deferred tax assets), provisions for litigation and legal proceedings, contingent consideration receivable from product divestments and contingent consideration payable in respect of business combinations and asset purchases. On an on-going basis the Company evaluates its estimates, judgments and methodologies. Actual results may differ from these estimates under different assumptions or conditions.
New accounting pronouncements	(c ) New A ccounting P ronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ( “ FASB ” ) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the impact of recently issued standards that are not yet effective will have a material impact on the Company's financial position or results of operations upon adoption. Adopted during the current period R eporting requirements for development stage entities In June 2014 the FASB simplified the existing guidance for development stage entities by removing all incremental financial reporting requirements and the exception available for development stage entities when determining whether the development stage entity is a variable interest entity . The elimination of the exception may change the consolidation analysis, consolidation decision, and disclosure requirements for a reporting entity that has an interest in an entity in the development stage. Shire adopted this guidance as of January 1, 2016. The adoption of this guidance did not impact the Company's consolidated financial position, results of operations or cash flows. Debt Issuance Costs In April 2015, the FASB issued a new standard that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. In August 2015, the FASB issued additional guidance which clarified that debt issuance costs related to line-of-credit arrangements can be presented in the balance sheet as an asset and amortized over the term of the line-of-credit arrangement. The recognition and measurement guidance for debt issuance costs were not affected by these amendments. Shire adopted this guidance as of January 1, 2016 with retroactive application . The Short-term borrowings and Long-term borrowings line items in the Consolidated Balance Sheets and related footnote disclosures for all periods presented have been adjusted. The adoption of this guidance did not impact the Company's results of operations or cash flows . Cloud Computing Arrangement In April 2015, the FASB issued guidance to simplify the accounting for fees paid in a cloud computing arrangement. Under the standard, if a cloud computing arrangement includes a software license, then the software license element of the arrangement should be accounted for consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the arrangement should be accounted for as a service contract. Shire adopted this guidance as of January 1, 2016 with prospective application. The adoption of this guidance did not impact the Company's consolidated financial position, results of operations or cash flows . Measurement-Period Adjustments In September 2015 the FASB issued guidance to simplify the accounting for adjustments related to business combinations arising within one year of the acquisition. The new standard requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the ad justment amounts are determined and record the effect on earnings of those changes as if the accounting had been completed at the acquisition date, and sets forth new disclosure requirements related to the adjustments. Shire adopted this guidance as of January 1, 2016 with prospective application. The adoption of this guidance did not impact the Company's consolidated financial position, results of operations or cash flows. To be adopted in future periods Revenue from Contracts with Customers In May 2014 the FASB issued new accounting guidance for recognizing revenue from contracts with customers. This new standard supersedes all existing revenue recognition requirements, including mo st industry-specific guidance. The new standard requires a company to recognize revenue when it transfers goods or services to customers in an amount that reflects the consideration that the company expects to receive for those goods or services. The new standard also requires additional qualitative and quantitative disclosures. In August 2015, the FASB issued additional guidance that delayed the effective date of the new standard from January 1, 2017 to January 1, 2018. The FASB also agreed to allow entities to choose to adopt the standard as of the original effective date. In March 2016 , the FASB issued additional guidance on when and how much revenue to recognize when another party (an agent), along with the entity, is involved in providing a good or a service to a customer. In April 2016, the FASB issued additional guidance on accounting for licenses of intellectual property and identifying performance obligations. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance. Leases In February 2016 , the FASB issued new accounting guidance that will require the recognition of all lease assets and lease liabilities by lessees and sets forth new disclosure requirements for those lease assets and liabilities . This standard is effective for the Company as of January 1, 2019. Early adoption is permitted. The Company is currently evaluating the potential impact on its financial position and results of operations of adopting this guidance. Share-Based Payment Accounting In March 2016 , t he FASB issued an update which involve s several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The se amendments are effective for the Company as of January 1, 2017 . Early adoption is permitted. The Company is currently evaluating the method of adoption and the potential impact on its financial position and results of operations of adopting this guidance .

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Mar. 31, 2016
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information	3 Months Ended March 31, 2016 2015 $’M $’M _______________ _______________ Revenues 1,715.3 1,508.8 Net income from continuing operations 401.6 279.0 _______________ _______________ Per share amounts: Net income from continuing operations per share - basic $0.68 $0.47 Net income from continuing operations per share - diluted $0.68 $0.47 _______________ _______________
Dyax
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	Fair value $’M ASSETS Current assets: Cash and cash equivalents 241.2 Accounts receivable, net 13.3 Inventories 20.2 Other current assets 8.1 _______________ Total current assets 282.8 Non-current assets: Property, plant and equipment, net 5.8 Goodwill 2,729.5 Other intangible assets, net - Currently marketed products 135.0 - In-Process Research and Development (“IPR&D”) 4,100.0 -Contract based royalty arrangements 425.0 Other non-current assets 28.3 _______________ Total assets 7,706.4 _______________ LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses 30.0 Other current liabilities 1.7 Non-current liabilities: Deferred tax liability 1,343.3 Other non-current liabilities 1.4 _______________ Total liabilities 1,376.4 _______________ Preliminary fair value of identifiable assets acquired and liabilities assumed 6,330.0 _______________ Consideration Preliminary fair value of purchase consideration 6,330.0
NPS Pharma
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	Fair value $’M ASSETS Current assets: Cash and cash equivalents 41.6 Short-term investments 67.0 Accounts receivable 33.4 Inventories 89.4 Other current assets 11.1 _______________ Total current assets 242.5 Non-current assets: Property, plant and equipment, net 4.8 Goodwill 1,551.0 Other intangible assets - currently marketed products 4,640.0 - royalty rights (categorized as "Other amortized intangible assets" ) 353.0 _______________ Total assets 6,791.3 _______________ LIABILITIES Current liabilities: Accounts payable and other current liabilities 75.7 Short-term debt 27.4 Non-current liabilities: Long-term debt, less current portion 78.9 Deferred tax liabilities 1,385.2 Other non-current liabilities 4.5 _______________ Total liabilities 1,571.7 _______________ Fair value of identifiable assets acquired and liabilities assumed 5,219.6 Consideration _______________ Cash consideration paid 5,219.6 _______________

Reorganization costs (Table)

Reorganization costs (Table)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Schedule of Reorganization costs	Opening liability Amount Closing liability as of January 1, charged to re- as of March 31, 2016 organization Paid/Utilized 2016 $'M $'M $'M $'M ___________ ____________ ___________ ___________ Involuntary termination benefits 15.0 3.3 (13.6) 4.7 Other reorganization costs 10.1 - (10.1) - ___________ ___________ ___________ ___________ 25.1 3.3 (23.7) 4.7 ___________ ___________ ___________ ___________

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Provision for discounts and doubtful accounts	2016 2015 $’M $’M _____________ _____________ As of January 1, 55.8 48.5 Provision charged to operations 149.4 80.8 Payments/credits related to sales (123.3) (82.6) _____________ _____________ As of March 31, 81.9 46.7 _____________ _____________

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory	March 31, December 31, 2016 2015 $’M $’M ____________ ____________ Finished goods 180.1 184.9 Work-in-progress 353.6 302.0 Raw materials 146.3 148.5 ____________ ____________ 680.0 635.4 ____________ ____________

Prepaid Expenses and Other Cu37

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Expense and Other Assets, Current	March 31, December 31, 2016 2015 $’M $’M ______________ ____________ Prepaid expenses 72.9 35.6 Deferred financing costs 70.4 11.5 Income tax receivable 66.3 73.6 Value added taxes receivable 24.2 18.2 Other current assets 80.6 58.5 ______________ ______________ 314.4 197.4 ______________ ______________

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	2016 2015 $’M $’M ____________ ____________ As of January 1, 4,147.8 2,474.9 Acquisitions 2,729.5 1,732.7 Foreign currency translation 4.6 (28.9) ____________ ____________ As of March 31, 6,881.9 4,178.7 ____________ ____________

Other Intangible Assets, Net (T

Other Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Other Intangible Assets	March 31, December 31, 2016 2015 $’M $’M ________________ ________________ Amortized intangible assets Acquired intellectual property ("IP") rights for marketed products 9,507.2 9,371.9 Other intangible assets 800.0 375.0 ________________ ________________ 10,307.2 9,746.9 Unamortized intangible assets Acquired IP rights for in-process research and development ("IPR&D") 5,462.0 1,362.0 ________________ ________________ 15,769.2 11,108.9 Less: Accumulated amortization (2,053.6) (1,935.6) ________________ ________________ 13,715.6 9,173.3 ________________ ________________
Intangible Assets (Excluding Goodwill) Roll Forward	Intangible Assets 2016 2015 $’M $’M ________________ ________________ As of January 1, 9,173.3 4,934.4 Acquisitions 4,660.9 5,198.0 Amortization charged (134.6) (88.3) Foreign currency translation 16.0 (64.1) ________________ ________________ As of March 31, 13,715.6 9,980.0 ________________ ________________

Accounts Payable and Accrued 40

Accounts Payable and Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts Payable and Accrued Liabilities, Current [Abstract]
Schedule of Accounts Payable and Accrued Expenses	March 31, December 31, 2016 2015 $’M $’M ________________ ________________ Accrued rebates – Medicaid 648.4 632.2 Accrued rebates – Managed care 395.2 350.2 Trade accounts payable and accrued purchases 334.5 336.3 Sales return reserve 130.1 128.3 Accrued employee compensation and benefits payable 95.3 102.5 R&D accruals 60.0 65.3 Accrued bonuses 43.2 152.0 Other accrued expenses 271.5 283.8 ________________ ________________ 1,978.2 2,050.6 ________________ ________________

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Liabilities, Current [Abstract]
Schedule of Other Current Liabilities	March 31, December 31, 2016 2015 $’M $’M _____________ _____________ Income taxes payable 66.6 73.5 Value added taxes 22.1 21.8 Contingent consideration payable 19.6 19.5 Other current liabilities 48.8 29.2 _____________ _____________ 157.1 144.0 _____________ _____________

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Borrowings	March 31, December 31, 2016 2015 $’M $’M _____________ _____________ Short term borrowings: Borrowings under the Revolving Credit Facilities Agreement (the “RCF”) 1,210.0 750.0 Borrowings under the November 2015 Facilities Agreement 987.5 - Borrowings under the January 2015 Facilities Agreement - 750.0 Secured non-recourse debts 13.8 11.5 _____________ _____________ 2,211.3 1,511.5 Long term borrowings: Borrowings under the November 2015 Facilities Agreement 4,589.7 - Secured non-recourse debts 64.3 69.9 _____________ _____________ 6,865.3 1,581.4 _____________ _____________

Other Non-current Liabilities (

Other Non-current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Liabilities, Noncurrent [Abstract]
Schedule of Other Noncurrent Liabilities	March 31, December 31, 2016 2015 $’M $’M ____________ ____________ Contingent consideration payable 862.9 456.4 Income taxes payable 201.2 195.8 Other non-current liabilities 152.6 146.6 ____________ ____________ 1,216.7 798.8 ____________ ____________

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments under Operating Leases	Operating leases $’M _____________ 2016 1 36.5 2017 1 39.8 2018 1 33.5 2019 1 30.7 2020 1 30.8 2021 29.2 Thereafter 1 156.5 111 _____________ 357.0 _____________

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in Accumulated Other Comprehensive Income, Net of Tax	Foreign currency translation adjustment Unrealized holding loss on available-for-sale securities Accumulated other comprehensive loss $M $M $M As of January 1, 2016 (182.1) (1.7) (183.8) Current period change: Net current period other comprehensive income/(loss) 24.7 (0.3) 24.4 As of March 31, 2016 (157.4) (2.0) (159.4) Foreign currency translation adjustment Unrealized holding (loss)/gain on available-for-sale securities Accumulated other comprehensive loss $M $M $M As of January 1, 2015 (25.7) (5.8) (31.5) Current period change: Net current period other comprehensive (loss)/income (129.5) 0.7 (128.8) As of March 31, 2015 (155.2) (5.1) (160.3)

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instrument Detail [Abstract]
Schedule of Foreign Exchange Contracts, Statement of Financial Position	Fair value Fair value March 31, December 31, 2016 2015 $’M $’M _____________ _____________ Assets Prepaid expenses and other current assets 3.0 1.9 Liabilities Other current liabilities 13.9 11.5 _____________ _____________
Schedule of Foreign Exchange Contracts, Gain (Loss) in Other Income (Expense)	3 Months Ended March 31, ____________ ____________ 2016 2015 $’M $’M _____________ _____________ Foreign exchange contracts and swaps Other (expense)/income, net (24.1) 16.3 _____________ _____________

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair value Total Level 1 Level 2 Level 3 At March 31, 2016 $'M $'M $'M $'M ____________ ___________ ___________ ___________ Financial assets: Marketable equity securities 16.9 16.9 - - Contingent consideration receivable 15.3 - - 15.3 Derivative contracts 3.0 - 3.0 - Financial liabilities: Derivative contracts 13.9 - 13.9 - Contingent consideration payable 882.5 - - 882.5 ____________ ___________ ___________ ___________ Total Level 1 Level 2 Level 3 At December 31, 2015 $'M $'M $'M $'M ____________ ___________ ___________ ___________ Financial assets: Marketable equity securities 17.2 17.2 - - Contingent consideration receivable 13.8 - - 13.8 Derivative contracts 1.9 - 1.9 - Financial liabilities: Derivative contracts 11.5 - 11.5 - Contingent consideration payable 475.9 - - 475.9 ____________ ___________ ___________ ___________
Assets Measured at Fair Value on a Recurring Basis Using Significant Unobervable Inputs (Level 3)	Contingent consideration receivable 2016 2015 $'M $'M ____________ ____________ Balance at January 1, 13.8 15.9 Change in fair value included in earnings 4.2 5.2 Reclassification out from contingencies for payment (3.0) (5.9) Currency Translation 0.3 (0.2) Balance at March 31, 15.3 15.0
Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobervable Inputs (Level 3)	Contingent consideration payable 2016 2015 $'M $'M ____________ ____________ Balance at January 1, 475.9 629.9 Additions 396.4 92.1 Change in fair value included in earnings 11.4 2.4 Reclassification out from contingencies for payment (2.0) (2.1) Other 0.8 1.7 Balance at March 31, 882.5 724.0
Fair Value Inputs, Assets Quantitative Information Table	Financial assets: Fair Value at the Measurement Date At March 31, 2016 Fair value Valuation Technique Significant unobservable Inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration receivable 15.3 Income approach (probability weighted discounted cash flow) • Probability weightings applied to different sales scenarios • Future forecast consideration receivable based on contractual terms with purchaser • Assumed market participant discount rate • 10 to 90% • $0 to $26 million • 8.4% ____________ ____________ ____________ ____________
Fair Value Inputs, Liabilities Quantitative Information Table	Financial liabilities: Fair Value at the Measurement Date At March 31, 2016 Fair value Valuation Technique Significant unobservable Inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration payable 882.5 Income approach (probability weighted discounted cash flow) • Cumulative probability of milestones being achieved • Assumed market participant discount rate • Periods in which milestones are expected to be achieved • Forecast quarterly royalties payable on net sales of relevant products • 4 to 90% • 1.2 to 12.4% • 2016 to 2030 • $2.2 to $6.6 million ____________ ____________ ____________ ____________

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	3 Months Ended March 31, 2016 2015 $’M $’M _________________ _________________ Income from continuing operations, net of taxes 409.5 412.9 Gain/(loss) from discontinued operations 1 9.5 (2.5) _________________ _________________ Numerator for basic and diluted earnings per share 419.0 410.4 _________________ _________________
Schedule of Weighted Average Number of Shares	Weighted average number of shares: Millions Millions _________________ _________________ Basic 591.7 589.1 Effect of dilutive shares: Share-based awards to employees 1.6 3.6 _________________ _________________ Diluted 593.3 592.7 _________________ _________________
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	3 Months Ended March 31, 2016 2015 No. of shares No. of shares Millions Millions _________________ _________________ Share-based awards to employees 4.0 1.4 _________________ _________________

Segmental Reporting (Tables)

Segmental Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Revenue from Major Products	3 Months Ended March 31, 2016 2015 $’M $’M ___________ ___________ VYVANSE 509.2 416.8 LIALDA/MEZAVANT 168.0 148.5 CINRYZE 164.2 148.1 FIRAZYR 128.3 92.5 ELAPRASE 123.6 125.0 REPLAGAL 103.2 97.5 ADDERALL XR 98.8 95.7 VPRIV 83.6 86.4 PENTASA 64.0 78.7 GATTEX/REVESTIVE 51.7 14.9 FOSRENOL 37.7 44.1 XAGRID 28.3 25.3 NATPARA 15.6 - KALBITOR 10.4 - INTUNIV 10.2 17.4 Other product sales 30.5 32.3 ____________ ____________ Total product sales 1,627.3 1,423.2 ____________ ____________

Business Combinations (Details)

Business Combinations (Details) $ / shares in Units, $ in Millions	Jan. 22, 2016USD ($)$ / shares	Feb. 21, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Jan. 11, 2016USD ($)$ / shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Contingent consideration payments			$ (2.1)	$ (2.4)
Integration and acquisition costs			91.1	75.7
Non-current assets:
Goodwill			6,881.9	4,178.7		$ 4,147.8	$ 2,474.9
Pro Forma Information
Post acquisition unwind of inventory fair value adjustment included in consolidated statement of income			12.8	11.2
Baxalta
Business Acquisition [Line Items]
Shire ADSs per Baxalta share					0.1482
Purchase price paid per share of acquiree, in cash (in USD per share) | $ / shares					$ 18
Purchase price paid per share of acquiree (in USD per share) | $ / shares					$ 45.57
Cash consideration payable in business acquisition					$ 32,000
Dyax
Business Acquisition [Line Items]
Contingent consideration payable, per share | $ / shares	$ 4
Purchase price paid per share of acquiree (in USD per share) | $ / shares	$ 37.3
Cash consideration paid	$ 5,934
Acquisition-date fair value of consideration	(6,330)
Maximum amount of contingent cash consideration	646
Fair value of contingent consideration payable	396
Integration and acquisition costs			51.7
Current assets:
Cash and cash equivalents	241.2
Accounts receivable,net	13.3
Inventories	20.2
Other current assets	8.1
Total current assets	282.8
Non-current assets:
Property, plant and equipment,net	5.8
Goodwill	2,729.5
Other non-current assets	28.3
Total assets	7,706.4
Current liabilities:
Accounts payable and other current liabilities	30
Other current liabilities	1.7
Non-current liabilities:
Deferred tax liabilities	1,343.3
Other non-current liabilities	1.4
Total liabilities	1,376.4
Fair value of identified assets acquired and liabilities assumed	$ (6,330)
Pro Forma Information
Post acquisition revenues included in consolidated statement of income			10.6
Post acquisition pre-tax losses included in consolidated statement of income			55.8
Post acquisition amortization of intangible assets included in consolidated statement of income			5.8
Post acquisition unwind of inventory fair value adjustment included in consolidated statement of income			1.1
Post acquisition integration costs included in consolidated statement of income			$ 21
Dyax | SHP643
Business Acquisition [Line Items]
Discount rate used in determining fair value of acquired in process research and development, high rate	9.00%
Dyax | KALBITOR
Business Acquisition [Line Items]
Estimated useful life of intangible assets	18 years
Dyax | Acquired intellectual property ("IP") rights for marketed products
Non-current assets:
Other intangible assets, net	$ 135
Dyax | IPR&D
Non-current assets:
Other intangible assets, net	4,100
Dyax | Royalty rights
Non-current assets:
Other intangible assets, net	$ 425
Dyax | Royalty rights | Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	7 years
Dyax | Royalty rights | Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	9 years
NPS Pharma
Business Acquisition [Line Items]
Percentage of voting interests acquired		100.00%
Cash consideration paid		$ 5,219.6
Acquisition-date fair value of consideration		5,219.6
Integration and acquisition costs				$ 75.7
Current assets:
Cash and cash equivalents		41.6
Short term investments		67
Accounts receivable,net		33.4
Inventories		89.4
Other current assets		11.1
Total current assets		242.5
Non-current assets:
Property, plant and equipment,net		4.8
Goodwill		1,551
Total assets		6,791.3
Current liabilities:
Accounts payable and other current liabilities		75.7
Short-term debt		27.4
Non-current liabilities:
Long term debt, less current portion		78.9
Deferred tax liabilities		1,385.2
Other non-current liabilities		4.5
Total liabilities		1,571.7
Fair value of identified assets acquired and liabilities assumed		5,219.6
NPS Pharma | Acquired intellectual property ("IP") rights for marketed products
Non-current assets:
Other intangible assets, net		$ 4,640
NPS Pharma | Acquired intellectual property ("IP") rights for marketed products | GATTEX/REVESTIVE
Business Acquisition [Line Items]
Estimated useful life of intangible assets		24 years
NPS Pharma | Acquired intellectual property ("IP") rights for marketed products | NATPARA/NATPAR
Business Acquisition [Line Items]
Estimated useful life of intangible assets		24 years
NPS Pharma | Royalty rights
Business Acquisition [Line Items]
Weighted average amortization period of acquired amortizable intangible assets		4 years
Non-current assets:
Other intangible assets, net		$ 353
NPS Pharma | Royalty rights | Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets		4 years
NPS Pharma | Royalty rights | Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets		5 years

Business Combinations (Pro Form

Business Combinations (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pro Forma Information
Net income from continuing operations	$ 401.6	$ 279
Pro Forma Data Adjustments
An adjustment to increase amortization of intangible assets	(1.3)	(5.4)
Increase/(decrease) to net income to reflect acquisition related costs	99.2	(99.2)
Decrease to net income to reflect the additional interest expense		(20.4)
Increase/(decrease) to net income to reflect the fair value adjustment to acquisition date inventory.		(0.7)
Dyax
Pro Forma Information
Revenues	$ 1,715.3	$ 1,508.8
Net income from continuing operations per share - basic	$ 0.68	$ 0.47
Net income from continuing operations per share - diluted	$ 0.68	$ 0.47

Reorganization Costs (Details)

Reorganization Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)divisions	Mar. 31, 2015USD ($)
Restructuring and Related Cost [Line Items]
Reorganization costs	$ 3.3	$ 15.2
Reorganization cost incurred to date	346.7
Restructuring Reserve [Roll Forward]
Reorganization Reserve Opening liability	25.1
Amounts charged to re-organization	3.3	$ 15.2
Reorganization liability, Paid and Utilized	(23.7)
Reorganization Reserve Closing liability	$ 4.7
Number of divisions | divisions	3
Involuntary termination benefits
Restructuring and Related Cost [Line Items]
Reorganization costs	$ 3.3
Restructuring Reserve [Roll Forward]
Reorganization Reserve Opening liability	15
Amounts charged to re-organization	3.3
Reorganization liability, Paid and Utilized	(13.6)
Reorganization Reserve Closing liability	4.7
Other reorganization costs
Restructuring and Related Cost [Line Items]
Reorganization costs	0
Restructuring Reserve [Roll Forward]
Reorganization Reserve Opening liability	10.1
Amounts charged to re-organization	0
Reorganization liability, Paid and Utilized	(10.1)
Reorganization Reserve Closing liability	$ 0

Integration and acquisition c53

Integration and acquisition costs (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Integration and acquisition costs	$ 91.1	$ 75.7
Contingent consideration payments	(2.1)	(2.4)
Dyax and proposed combination with Baxalta
Business Acquisition [Line Items]
Integration and acquisition costs	$ 91.1
NPS Pharma
Business Acquisition [Line Items]
Integration and acquisition costs		$ 75.7

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Provision for discounts and doubtful accounts
As at January 1,	$ 55.8	$ 48.5
Provision charged to operations	149.4	80.8
Provision utilization	(123.3)	(82.6)
As at March 31,	81.9	$ 46.7
Accounts receivable, net	1,312.7		$ 1,201.2
Accounts receivable related to royalty income	$ 89.1		$ 79

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Schedule of Inventory
Finished goods	$ 180.1	$ 184.9
Work-in-progress	353.6	302
Raw materials	146.3	148.5
Total inventories	$ 680	$ 635.4

Results of discontinued opera56

Results of discontinued operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain/(loss) from discontinued operations, net of taxes (in USD)	$ 9.5	$ (2.5)
DERMAGRAFT
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income taxes	5.5	1.4
Gain/(loss) from discontinued operations, net of taxes (in USD)	$ 9.5	$ 2.5

Prepaid Expenses and Other Cu57

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid expenses	$ 72.9	$ 35.6
Income tax receivable	66.3	73.6
Value added taxes receivable	24.2	18.2
Other current assets	80.6	58.5
Deferred financing costs	70.4	11.5
Prepaid expenses and other current assets, total	$ 314.4	$ 197.4

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill [Line Items]
Goodwill arising on business acquired	$ 6,881.9	$ 4,178.7
Goodwill [Roll Forward]
As at January 1,	4,147.8	2,474.9
Acquisition	2,729.5	1,732.7
Foreign currency translation	4.6	(28.9)
As at March 31,	$ 6,881.9	$ 4,178.7

Other Intangible Assets, Net (D

Other Intangible Assets, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Intangible Assets (Excluding Goodwill) [Line Items]
Amortized intangible assets	$ 10,307.2		$ 9,746.9
Other intangible assets, gross	15,769.2		11,108.9
Less: Accumulated amortization	(2,053.6)		(1,935.6)
Other intangible assets, net	13,715.6	$ 9,980	9,173.3	$ 4,934.4
Other Disclosures
Acquisitions	4,660.9	5,198
Change in fair value of contingent consideration	(11.4)	(2.4)
Amortization of intangible assets	134.6	88.3
Selling, General and Administrative
Other Disclosures
Amortization of intangible assets	134.6	$ 88.3
Acquired intellectual property ("IP") rights for marketed products
Intangible Assets (Excluding Goodwill) [Line Items]
Amortized intangible assets	9,507.2		9,371.9
Less: Accumulated amortization	(1,938.6)		(1,852.1)
Other Disclosures
Acquisitions	135
Other intangible assets
Intangible Assets (Excluding Goodwill) [Line Items]
Amortized intangible assets	800		375
Less: Accumulated amortization	(115)		(83.5)
Other Disclosures
Acquisitions	425
Acquired IP rights for in-process research and development ("IPR&D")
Intangible Assets (Excluding Goodwill) [Line Items]
Unamortized intangible assets	5,462		$ 1,362
Other Disclosures
Acquisitions	$ 4,100

Other Intangible Assets, Net (R

Other Intangible Assets, Net (Roll Forward) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Other Intangible Assets Roll Forward
As at January 1,	$ 9,173.3	$ 4,934.4
Acquisitions	4,660.9	5,198
Amortization of intangible assets	134.6	88.3
Foreign currency translation	16	(64.1)
As at March 31,	$ 13,715.6	$ 9,980

Accounts Payable and Accrued 61

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accounts Payable and Accrued Liabilities, Current [Line Items]
Trade accounts payable and accrued purchases	$ 334.5	$ 336.3
Accrued rebates - Medicaid	648.4	632.2
Accrued rebates - Managed care	395.2	350.2
Sales return reserve	130.1	128.3
Accrued bonuses	43.2	152
Accrued employee compensation and benefits payable	95.3	102.5
R&D accruals	60	65.3
Other accrued expenses	271.5	283.8
Accounts payable and accrued expenses, total	$ 1,978.2	$ 2,050.6

Other Current Liabilities (Deta

Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other Liabilities, Current [Abstract]
Income taxes payable	$ 66.6	$ 73.5
Value added taxes	22.1	21.8
Contingent consideration payable	19.6	19.5
Other current liabilities	48.8	29.2
Other current liabilities, total	$ 157.1	$ 144

Borrowings (Details)

Borrowings (Details) $ in Millions	Jul. 11, 2016	Jan. 11, 2016USD ($)contract	Nov. 02, 2015USD ($)contract	Sep. 28, 2015USD ($)	Jan. 11, 2015USD ($)	Dec. 12, 2014USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Long-term borrowings							$ 4,654		$ 69.9
Short-term borrowings							2,211.3		1,511.5
Borrowing, Long-term and Short-term ,Combined Amount							6,865.3		1,581.4
Repayment of lines of credit							(995.1)	$ (535.2)
January 2015 Facility Agreement
Line of Credit Facility [Line Items]
Facility agreement initiation date					Jan. 11, 2015
Facilitiy agreement total amount					$ 850
Facility agreement expiration date	Jul. 11, 2016				Jan. 10, 2016
Short-term borrowings							0		750
Repayment of lines of credit				$ (100)
January 2016 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement initiation date		Jan. 11, 2016
Facilitiy agreement total amount		$ 18,000
Number of term loan facilities | contract		2
November 2015 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement initiation date			Nov. 2, 2015
Facilitiy agreement total amount			$ 5,600
Number of term loan facilities | contract			3
Long-term borrowings							4,589.7		0
Short-term borrowings							987.5		0
November 2015 Facility A | November 2015 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement expiration date			Nov. 2, 2016
Term loan facility			$ 1,000
November 2015 Facility B | November 2015 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement expiration date			Nov. 2, 2017
Term loan facility			$ 2,200
November 2015 Facility C | November 2015 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement expiration date			Nov. 2, 2018
Term loan facility			$ 2,400
January 2016 Facility B | January 2016 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement expiration date		Jan. 11, 2017
Term loan facility		$ 5,000
January 2016 Facility A | January 2016 Facilities Agreement
Line of Credit Facility [Line Items]
Facility agreement expiration date		Jan. 11, 2017
Term loan facility		$ 13,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Facility agreement initiation date						Dec. 12, 2014
Facility agreement expiration date						Dec. 12, 2020
Swingline Facility						$ 250
Principal amount						$ 2,100
Short-term borrowings							1,210		750
Secured Non-recourse Debts
Line of Credit Facility [Line Items]
Long-term borrowings							64.3		69.9
Short-term borrowings							$ 13.8		$ 11.5

Other Non-current Liabilities64

Other Non-current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other Liabilities, Noncurrent [Abstract]
Income taxes payable	$ 201.2	$ 195.8
Contingent consideration payable	862.9	456.4
Other non-current liabilities	152.6	146.6
Other noncurrent liabilities, total	$ 1,216.7	$ 798.8

Commitments and Contingencies65

Commitments and Contingencies (Leases, and LC and Guarantees ) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Future Minimum Lease Payments under Operating Leases
2,016	$ 36.5
2,017	39.8
2,018	33.5
2,019	30.7
2,020	30.8
2,021	29.2
Thereafter	156.5
Future minimum lease payments, total	357
Operating Leases, Rent Expense
Lease and rental expense	7.5	$ 14.2
Letters of credit and guarantees
Irrevocable standby letters of credit and guarantees	$ 60

Commitments and Contingencies66

Commitments and Contingencies (Collaborative Arrangements) (Details) - Out-licensing Arrangement - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Out-licensing arrangements
Milestone payments received	$ 0.5	$ 12.6
Other Revenues
Out-licensing arrangements
Milestone revenues recognized	1.3	0.5
Product Sales
Out-licensing arrangements
Milestone revenues recognized	15.1	$ 9.2
Development Milestone
Out-licensing arrangements
Maximum milestone payment receivable	32
Sales Milestone
Out-licensing arrangements
Maximum milestone payment receivable	$ 42

Commitments and Contingencies67

Commitments and Contingencies (Commitments and Loss Contingency) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Legal Matters [Line Items]
Provisions for litigation loss, insurance claims and other disputes		$ 25	$ 9.9
Clinical Testing
Commitment [Line Items]
Commitment amount		584	490
Contract Manufacturing
Commitment [Line Items]
Commitment amount		334	325
Commitments expected to be paid in next year	$ 159
Other Purchasing Commitment
Commitment [Line Items]
Commitment amount		581	485
Commitments expected to be paid in next year	$ 575
Investment Commitment
Commitment [Line Items]
Commitment amount		22	22
Capital Commitment
Commitment [Line Items]
Commitment amount		$ 43	$ 60

Accumulated Other Comprehensi68

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at January 1,	$ (183.8)
Net current period other comprehensive income/(loss)	24.4
As at March 31,	(159.4)
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at January 1,	(182.1)	$ (25.7)
Net current period other comprehensive income/(loss)	24.7	(129.5)
As at March 31,	(157.4)	(155.2)
Unrealized holding gain/(loss) on available-for-sale securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at January 1,	(1.7)	(5.8)
Net current period other comprehensive income/(loss)	(0.3)	0.7
As at March 31,	(2)	(5.1)
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at January 1,	(183.8)	(31.5)
Net current period other comprehensive income/(loss)	24.4	(128.8)
As at March 31,	$ (159.4)	$ (160.3)

Financial Instruments (Interest

Financial Instruments (Interest Rate and Credit Risks) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)customer
Interest rate risk
Average interest rate received on cash and liquid investments	less than 1% per annum.
Line of Credit Facility [Line Items]
Short-term borrowings	$ 2,211.3	$ 1,511.5
Interest rate swaps, notional amount	5,100
Interest rate swaps, fair value	2
Loss recognized in the income statement, within interest expense	(2)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of major external customers | customer		3
Customer concentration risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk percentage		47.00%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Short-term borrowings	1,210	$ 750
Government-owned or Supported Healthcare Providers | Italy
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable received	24.3
Government-owned or Supported Healthcare Providers | Spain
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable received	$ 22

Financial Instruments (Foreign

Financial Instruments (Foreign Exchange Risk and Its Classification on Balance Sheet) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)contract	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)
Derivatives, Fair Value
Liabilities	$ 2
Net derivative fair value assets	1
Net derivative fair value liabilities	11.9
Potential effect of rights of set off associated with the foreign exchange contracts	$ 2		$ 0
Foreign Exchange Contract
Derivatives, Fair Value
Number of swap and forward foreign exchange contracts outstanding | contract	49
Swaps and forward contracts maturity	90 days
Foreign Exchange Contract | Prepaid expenses and other current assets
Derivatives, Fair Value
Assets	$ 3	$ 1.9
Foreign Exchange Contract | Other current liabilities
Derivatives, Fair Value
Liabilities	$ 13.9	$ 11.5

Financial Instruments (Foreig71

Financial Instruments (Foreign Exchange Risk and Its Effect on Income Statement) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Foreign Exchange Contract | Other income, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	$ (24.1)	$ 16.3

Fair Value Measurement (Assets

Fair Value Measurement (Assets and Liabilities That are Measured and Not Measured at Fair Value on a Recurring Basis) (Details) - Recurring Basis - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Estimated fair value
Financial assets:
Marketable equity securities	$ 16.9	$ 17.2
Contingent consideration receivable	15.3	13.8
Derivative contracts, asset	3	1.9
Financial liabilities:
Derivative contracts, liability	13.9	11.5
Contingent consideration payable	882.5	475.9
Level 1
Financial assets:
Marketable equity securities	16.9	17.2
Contingent consideration receivable	0	0
Derivative contracts, asset	0	0
Financial liabilities:
Derivative contracts, liability	0	0
Contingent consideration payable	0	0
Level 2
Financial assets:
Marketable equity securities	0	0
Contingent consideration receivable	0	0
Derivative contracts, asset	3	1.9
Financial liabilities:
Derivative contracts, liability	13.9	11.5
Contingent consideration payable	0	0
Level 3
Financial assets:
Marketable equity securities	0	0
Contingent consideration receivable	15.3	13.8
Derivative contracts, asset	0	0
Financial liabilities:
Derivative contracts, liability	0	0
Contingent consideration payable	$ 882.5	$ 475.9

Fair Value Measurement (Asset73

Fair Value Measurement (Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Change in the Fair Value of Contigent Consideration Receivable
Balance at beginning of period	$ 13.8	$ 15.9
Gain recognized in the income statement (within Gain on sale of product rights) due to change in fair value during the period	4.2	5.2
Reclassification of amounts to Other receivables within Other current assets	(3)	(5.9)
Amounts recorded to other comprehensive income (within foreign currency translation adjustments)	0.3	(0.2)
Balance at end of period	15.3	15
Change in the Fair Value of Contigent Consideration Payable
Balance at beginning of period	475.9	629.9
Initial recognition of contingent consideration payable	396.4	92.1
Change in fair value during the period with the corresponding adjustment recognized (within Integration and acquisition costs) in the income statement	11.4	2.4
Reclassification of amounts to Other current liabilities	(2)	(2.1)
Change in fair value during the period with corresponding adjustment to the associated intangible asset	0.8	1.7
Balance at end of period	882.5	$ 724
Contingent consideration payable, current (within other current liabilities)	19.6		$ 19.5
Contingent consideration payable, non-current (within other non-current liabilities)	$ 862.9		$ 456.4

Fair Value Measurement (Quantit

Fair Value Measurement (Quantitative Information About Recurring and Non-recurring Level 3 Fair Value Measurements) (Details) - Recurring Basis $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Contingent Consideration Payable | Minimum
Fair Value Inputs
Assumed market participant discount rate	1.20%
Cumulative probability of milestones being achieved (in percent)	4.00%
Periods in which milestones are expected to be achieved	2,016
Forecast quarterly royalties payable on net sales of relevant products	$ 2.2
Contingent Consideration Payable | Maximum
Fair Value Inputs
Assumed market participant discount rate	12.40%
Cumulative probability of milestones being achieved (in percent)	90.00%
Periods in which milestones are expected to be achieved	2,030
Forecast quarterly royalties payable on net sales of relevant products	$ 6.6
Contingent Consideration Payable | Income approach (probability weighted discounted cash flow)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Liabilities	882.5
Contingent Consideration Receivable | Income approach (probability weighted discounted cash flow)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets	$ 15.3
Fair Value Inputs
Assumed market participant discount rate	8.40%
Contingent Consideration Receivable | Income approach (probability weighted discounted cash flow) | Minimum
Fair Value Inputs
Probability weightings applied to different sales scenarios (in percent)	10.00%
Future forecast consideration receivable based on contractual terms with purchaser	$ 0
Contingent Consideration Receivable | Income approach (probability weighted discounted cash flow) | Maximum
Fair Value Inputs
Probability weightings applied to different sales scenarios (in percent)	90.00%
Future forecast consideration receivable based on contractual terms with purchaser	$ 26

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Schedule of Calculation of Numerator and Denominator in Earnings Per Share
Income from continuing operations, net of taxes (in USD)	$ 409.5	$ 412.9
Gain/(loss) from discontinued operations, net of taxes (in USD)	9.5	(2.5)
Numerator for basic earnings per share	$ 419	$ 410.4	$ 419	$ 410.4
Schedule of Weighted Average Number of Shares
Basic (in shares)	591.7	589.1
Effect of dilutive shares:
Share based awards to employees (in shares)	1.6	3.6
Diluted (in shares)	593.3	592.7
Share Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4	1.4

Segmental Reporting (Revenue by

Segmental Reporting (Revenue by Product) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue from External Customer [Line Items]
Product sales	$ 1,627.3	$ 1,423.2
VYVANSE
Revenue from External Customer [Line Items]
Product sales	509.2	416.8
CINRYZE
Revenue from External Customer [Line Items]
Product sales	164.2	148.1
LIALDA/MEZAVANT
Revenue from External Customer [Line Items]
Product sales	168	148.5
ADDERALL XR
Revenue from External Customer [Line Items]
Product sales	98.8	95.7
INTUNIV
Revenue from External Customer [Line Items]
Product sales	10.2	17.4
PENTASA
Revenue from External Customer [Line Items]
Product sales	64	78.7
FOSRENOL
Revenue from External Customer [Line Items]
Product sales	37.7	44.1
XAGRID
Revenue from External Customer [Line Items]
Product sales	28.3	25.3
Other Products
Revenue from External Customer [Line Items]
Product sales	30.5	32.3
REPLAGAL
Revenue from External Customer [Line Items]
Product sales	103.2	97.5
ELAPRASE
Revenue from External Customer [Line Items]
Product sales	123.6	125
VPRIV
Revenue from External Customer [Line Items]
Product sales	83.6	86.4
FIRAZYR
Revenue from External Customer [Line Items]
Product sales	128.3	92.5
GATTEX/REVESTIVE
Revenue from External Customer [Line Items]
Product sales	51.7	14.9
NATPARA
Revenue from External Customer [Line Items]
Product sales	15.6	0
KALBITOR
Revenue from External Customer [Line Items]
Product sales	$ 10.4	$ 0

Taxation (Details)

Taxation (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Effective Income Tax Rate Reconciliation
Effective rate of tax	17.00%	12.00%

Related parties (Details)

Related parties (Details) - ArmaGen $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Related Party Transaction [Line Items]
Share of R&D credit recorded within R&D expense	$ 0.5
Related parties, acrrued liabilities	$ 0.2
Percentage of equity stake	21.00%