Shire (SHPG) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions, $ in Billions	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 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		900.2
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Public Float			$ 55.5

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 693.4	$ 135.5
Restricted cash	20	86
Accounts receivable, net	2,412.4	1,201.2
Inventories	5,798.7	635.4
Prepaid expenses and other current assets	733.6	197.4
Total current assets	9,658.1	2,255.5
Non-current assets:
Investments	174	50.8
Property, plant and equipment, net	6,596.3	828.1
Goodwill	12,962.4	4,147.8
Intangible assets, net	40,890.3	9,173.3
Deferred tax asset	129.6	121
Other non-current assets	309.8	33.3
Total assets	70,720.5	16,609.8
Current liabilities:
Accounts payable and accrued expenses	3,728.1	2,050.6
Short-term borrowings	2,715.2	1,511.5
Other current liabilities	411.5	144
Total current liabilities	6,854.8	3,706.1
Non-current liabilities
Long-term borrowings	21,312.1	69.9
Deferred tax liability	10,053.8	2,205.9
Other non-current liabilities	2,736.8	798.8
Total liabilities	40,957.5	6,780.7
Commitments and contingencies
Equity:
Common stock of 5p par value; 1,000 million shares authorized; and 906.9 million shares issued and outstanding (2015: 1,000 million shares authorized; and 601.1 million shares issued and outstanding)	81	58.9
Additional paid-in capital	24,473.2	4,486.3
Treasury stock: 9.1 million shares (2015: 9.7 million shares)	(302.3)	(320.6)
Accumulated other comprehensive loss	(385.8)	(183.8)
Retained earnings	5,896.9	5,788.3
Total equity	29,763	9,829.1
Total liabilities and equity	$ 70,720.5	$ 16,609.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - £ / shares shares in Millions	Jun. 30, 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	906.9	601.1
Common Stock, Shares, Outstanding	906.9	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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Product sales	$ 2,322.1	$ 1,476.2	$ 3,949.4	$ 2,899.4
Royalties and other revenues	107	81.4	189	146.6
Total revenues	2,429.1	1,557.6	4,138.4	3,046
Costs and expenses:
Cost of product sales	778.1	228	1,026.7	455.8
Research and development	294.8	775.9	511.9	969.6
Selling, general and administrative	675.3	496	1,150.2	914.3
Integration and acquisition costs	363	(212.4)	454.1	(136.7)
Amortization of acquired intangibles	213	131.3	347.6	219.6
Reorganization costs	11	13.3	14.3	28.5
Gain on sale of product rights	(2.3)	(7.1)	(6.5)	(12.3)
Total operating expenses	2,332.9	1,425	3,498.3	2,438.8
Operating income from continuing operations	96.2	132.6	640.1	607.2
Interest income	1.6	0.6	2.6	2.6
Interest expense	(87.2)	(11.3)	(131.9)	(20.9)
Other income/(expense), net	6	(2)	(2.5)	2.3
Total other expense, net	(79.6)	(12.7)	(131.8)	(16)
Income from continuing operations before income taxes and equity in earnings of equity method investees	16.6	119.9	508.3	591.2
Income taxes benefit / (charge)	70.9	44.1	(11.2)	(13.3)
Equity in (losses)/earnings of equity method investees, net of taxes	(0.9)	0.1	(1)	(0.9)
Income from continuing operations, net of taxes	86.6	164.1	496.1	577
Loss from discontinued operations, net of taxes	(248.7)	(4.5)	(239.2)	(7)
Net (loss)/income	$ (162.1)	$ 159.6	$ 256.9	$ 570
Earning per ordinary share - basic
Earnings from continuing operations	$ 0.12	$ 0.28	$ 0.78	$ 0.98
Loss from discontinued operations	(0.36)	(0.01)	(0.38)	(0.01)
(Loss)/earnings per ordinary share - basic	(0.24)	0.27	0.40	0.97
Earnings per ordinary share - diluted
Earnings from continuing operations	0.12	0.28	0.77	0.97
Loss from discontinued operations	(0.36)	(0.01)	(0.37)	(0.01)
(Loss)/earnings per ordinary share - diluted	$ (0.24)	$ 0.27	$ 0.40	$ 0.96
Weighted average number of shares:
Basic	682.8	590.5	637.3	589.8
Diluted	682.8	593.2	640.1	593
Cash dividends declared and paid per ordinary share	$ 0.22	$ 0.19	$ 0.22	$ 0.19

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Statement of Income and Comprehensive Income [Abstract]
Net (loss)/income	$ (162.1)	$ 159.6	$ 256.9	$ 570
Other comprehensive (loss)/income:
Foreign currency translation adjustments	(220.2)	46.2	(195.5)	(83.3)
Unrealized (loss)/gain on available-for-sale securities (net of taxes benefit of $1.4 for both the three and six months ended June 30, 2016 and $nil for both the three and six months ended June 30, 2015)	(4.4)	2.6	(4.7)	3.3
Hedging activities, net of tax of $1.6 for both the three and six months ended June 30, 2016, respectively and $nil for both the three and six months ended June 30, 2015	(1.8)	0	(1.8)	0
Comprehensive (loss)/income	(388.5)	$ 208.4	54.9	$ 490
Components of accumulated other comprehensive income
Foreign currency translation adjustments	(377.6)		(377.6)		$ (182.1)
Unrealized holding loss on available-for-sale securities, net of taxes	(6.4)		(6.4)		(1.7)
Hedging activities, net of taxes	(1.8)		(1.8)		0
Accumulated other comprehensive loss	$ (385.8)		$ (385.8)		$ (183.8)

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Income and Comprehensive Income [Abstract]
Unrealized holding (loss)/gain on available-for-sale securities, tax	$ 1.4	$ 0	$ 1.4
Hedging activities, tax	$ (1.6)	$ 0	$ (1.6)	$ 0

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - 6 months ended Jun. 30, 2016 - USD ($) shares in Millions, $ in Millions	Total	EBT	Common stock	Additional paid-in capital	Treasury stock	Accumulated other comprehensive loss	Retained earnings
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 (loss)/income	$ 256.9						256.9
Other comprehensive loss, net of tax	(202)					(202)
Options exercised	10.8		$ 0.1	10.7
Option exercised (in shares)			0.6
Share-based compensation	194.8			194.8
Tax benefit associated with exercise of stock options (in US dollar)	3.8			3.8
Shares released by employee benefit trust to satisfy exercise of stock options		$ 0.2			18.3		(18.1)
Shares issued for acquisition	19,799.6		$ 22	19,777.6
Shares issued for acquisition, number of shares			305.2
Dividends	(130.2)						(130.2)
As at Jun. 30, 2016	$ 29,763		$ 81	$ 24,473.2	$ (302.3)	$ (385.8)	$ 5,896.9
Shares as at Jun. 30, 2016	906.9		906.9

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss)/income	$ 256.9	$ 570
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	429.8	291.8
Share-based compensation	194.8	44.3
Change in fair value of contingent consideration	(45)	(255.7)
Impairment of intangible assets	8.9	523.3
Amortization of inventory fair value step-up	293.5	16.3
Changes in deferred taxes	(329.2)	(79.4)
Other, net	32.5	(0.3)
Changes in operating assets and liabilities:
Increase in accounts receivable	(181)	(84.9)
Increase in sales deduction accruals	66.4	37.3
Increase in inventory	(116.4)	(37.4)
Decrease in prepayments and other assets	26.5	28.4
Increase/(decrease) in accounts and notes payable and other liabilities	342.7	(39.8)
Net cash provided by operating activities	980.4	1,013.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Movements in restricted cash	67.2	(19.5)
Purchases of businesses, net of cash acquired	(17,476.2)	(5,249.2)
Purchases of non-current investments and PP&E	(179.1)	(44.7)
Proceeds from short-term investments	0	67
Proceeds from sale of product rights	5.6	8.8
Proceeds from disposal of non-current investments	0	4.4
Other, net	(2.3)	(0.9)
Net cash used in investing activities	(17,584.8)	(5,234.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	18,895	2,925.6
Repayment of revolving line of credit, long term and short term borrowings	(1,500.3)	(1,530.9)
Payment of dividend	(130.2)	(110.2)
Excess tax benefit associated with exercise of stock options	5.1	27
Debt issuance costs	(112.3)	(3.7)
Contingent consideration payments	(4.2)	(4.5)
Other, net	11.1	(0.8)
Net cash provided by financing activities	17,164.2	1,302.5
Effect of foreign exchange rate changes on cash and cash equivalents	(1.9)	(0.7)
Net increase/(decrease) in cash and cash equivalents	557.9	(2,918.4)
Cash and cash equivalents at beginning of period	135.5	2,982.4
Cash and cash equivalents at end of period	693.4	64
Supplemental information associated with continuing operations:
Interest paid	(111.4)	(9.9)
Income taxes (paid)/repaid, net	$ (253.7)	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1 . Summary of Significant Accounting Policies 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 (“U . S . GAAP”). The balance sheet as of December 31, 201 5 was derived from audited financial statements but does not include all disclosures required by U . S . 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 , as filed with the SEC on February 23, 2016 (the “Shire 2015 Form 10-K”) . Certain information and footnote disclosures normally included in financial statements prepared in accordance with U . S . 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 necess arily indicative of results to be expected for the full year . On June 3, 2016, the Company completed its acquisition of Baxalta Incorporated (“ Baxalta ”) for $32.4 billion, representing the preliminary fair value of purchas e consideration. The Company's Unaudited Consolidated Financial Statements include the results of Baxalta from the date of acquisition . For further details regarding the acquisition, please refer to Note 2 , Business Combinations of these U naudited C onsolidated F inancial S tatements . During the second quarter of 2016, due to the Baxalta acquisition, the Company concluded that it was appropriate to reclassify the Amortization of Acquired Intangibles from the Selling, General and Administrative line item on the Unaudited Consolidated Income Statements. Accordingly, the Company reclassified the Amortization of Acquired Intangibles from the Selling, General and Administrative line item in comparative periods to conform to the current classification . Use of Estimates The preparation of financial statements, in conformity with U . S . 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, measurement of pension and other post-employment plan obligations and net periodic benefit cost, contingent consideration receivable from product divestments and contingent consideration payable in respect of business combinations and asset purchases and valuation of other assets and liabilities acquired in business combinations . 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. A ccounting Policy Updates The Company's significant accounting policies are discussed in Shire's most recent Annual Report on Form 10-K. The following significant accounting policies have been updated as a result of the Baxalta acquisition . Financial instruments - derivatives The Company uses derivative financial instruments to manage its exposure to foreign exchange risk to earnings relating to forecasted transactions and recognized assets and liabilities. The Company has assumed derivatives related to the Baxalta acquisition and has elected to apply hedge accounting for certain derivatives. For each derivative instrument that is designated and effective as a cash flow hedge, the gain or loss on the derivative is recorded in Accumulated other comprehensive income (“ AOCI ”) and then recognized in earnings consistent with the underlying hedged item. Cash flow hedges are classified in revenues , cost of sales, interest expense, and primarily relate to forecasted third-party sales denominated in foreign currencies, forecasted intercompany sales denominated in foreign currencies, an d anticipated issuances of debt . For each derivative instrument that is designated and effective as a fair value hedge, the gain or loss on the derivative is recognized immediately to earnings, and offsets the loss or gain on the underlying hedged item. Fair value hedges are classified in interest income and interest expense, as they hedge the interest rate risk associated with certain of the Company's fixed-rate debt. The Company uses forward contracts to hedge earnings from the effects of foreign exchange relating to certain of the Company's intercompany and third-party receivables and payables denominated in a foreign currency. These derivative instruments generally are not formally designated as hedges and the terms of these instruments generally do not exceed three month s . The fair values of these instruments are included on the balance sheet in current assets / liabilities, with changes in the fair value recognized in the consolidated statements of income. The cash flows relating to these instruments are presented within net cash provided by operating activities in the consolidated statement of cash flows, unless the derivative instruments are economically hedging specific investing or financing activities. 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 below , 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 with prospective application . 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. In May 2016, the FASB issued additional guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications. In May 2016, the FASB rescinded several SEC Staff Announcements that are codified in ASC 605, including, among other items, guidance relating to accounting for shipping and handling fees and freight services. 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. Inventory In July 2015, the FASB issued new guidance which requires an entity to measure inventory at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This standard is effective for the Company as of January 1, 2017. Early adoption is permitted. The Company is currently evaluating the potential impact on its financial position and results of operations of adopting this guidance. Financial Instrument Accounting In January 2016, the FASB issued an update which involves several aspects of the accounting for the recognition and measurement of certain equity investments. This update impacts all non-equity method investments and has consequences on related deferred income tax valuation allowances and certain financial statement related presentation and disclosure requirements. These amendments are effective for the Company as of January 1, 2018. Early adoption is not 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. 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 . The standard requires lessees to recognize right-of-use assets and lease li abilities on the balance sheet using a modified retrospective approach at the beginning of the earliest comparative period in the financial statements. 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	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Business Combination Disclosure	2 . Business C ombinations C ombination with Baxalta On June 3, 2016 , Shire acquired all of the outstanding common stock of Baxalta for $18.00 per share in cash and 0.1482 Shire American Depository Shares (“ADSs”) per Baxalta share, or if a former Baxalta shareholder properly elect ed , 0.4446 Shire ordinary shares per Baxalta share. B axalta was a global biopha rmaceutical company that focused on developing, manufacturing and commercializing therapies for orphan diseases and underserved conditions in hematology, oncology and immunology. The preliminary fair value of the purchase price consideration consisted of the following: Estimated Fair Value (in millions) Cash paid to shareholders $12,366.7 Fair value of stock issued to shareholders 19,353.20 Fair value of partially vested stock options and RSUs assumed 497.6 Contingent consideration payable 166 ___________________ Total Purchase Consideration $ 32,383.5 ___________________ 2 . Business C ombinations The acquisition of Baxalta was accounted for as a business combination using the acquisition method. Shire issued 305.2 million shares to former Baxalta shareholders at the date of the acquisition. For a more detailed description of the fair value of the partially vested stock options and RSUs assumed , please see Note 2, Share Based Compensation, to these Unaudited C onsolidated F inancial S tatements. The assets acquired and the liabilities assumed from Baxalta have been recorded at their preliminary fair value as of June 3, 2016, the date of acquisition. The Company's Unaudited Consolidated Financial S tatements included the results of Baxalta from the date of acquisition . The amount of Baxalta's post-acq uisition revenues and pre-tax loss included in the Company's Unaudited Consolidated Statements of I ncome for both the three and six months ended June 30, 2016 is $580.3 million and $ 419.8 million respectively. The pre-tax loss in both the three months and six months ended June 30, 2016 includes charges for the unwind of inventory fair value adjustments of $266.0 million, intangible asset amortization of $74.1 million and acquisition and integration costs of $ 272.9 million . The Company's preliminary allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date is outlined below . Preliminary fair value $’M ASSETS Current assets: Cash and cash equivalents 583.2 Accounts receivable, net 1,382.8 Inventories 5,341.1 Other current assets 362.2 _______________ Total current assets 7,669.3 Non-current assets: Property, plant and equipment, net 5,687.7 Investments 128.2 Goodwill 6,106.4 Other intangible assets, net - Currently marketed products 24,550.0 - In-Process Research and Development (“IPR&D”) 2,940.0 - Contract based arrangements 72.2 Other non-current assets 103.3 _______________ Total assets 47,257.1 _______________ LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses 1,509.5 Other current liabilities 15.4 Non-current liabilities: Assumed indebtedness 5,424.9 Deferred tax liability 6,831.7 Other non-current liabilities 1,092.1 _______________ Total liabilities 14,873.6 _______________ Preliminary fair value of identifiable assets acquired and liabilities assumed 32,383.5 _______________ Consideration Preliminary fair value of purchase consideration 32,383.5 The Company is currently completing its evaluation of information , assumptions and valuation methodologies it used in its preliminary fair value of th e purchase price consideration. The purchase price allocation is preliminary pending final determination of the fair values of certain assets and liabilities. As of June 30, 2016 , certain items related to the fair values of prepaid assets, inventories, intangible assets, property plant and equipment (“PP&E”) , deferred rent, deferred revenue, and current and deferred taxes have not been finalized and may be subject to change as additional information is received and certain tax returns are finalized. The finalization of these matters may result in changes to goodwill and these changes may be material. The final determination of these fair values will be completed as soon as possible but no later than one year from the acquisition date. Intangible Assets The fair value of the identifiable intangible assets ha s been estimated using an income approach, which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the incremental after tax cash flows an asset would generate over its remaining useful life. Other intangible assets totaling $24,550.0 million relate to intellectual property (“IP”) rights acquired for Baxalta's currently marketed products. The estimated useful life of the currently marketed product s intangible asset s range from 11 to 38 years (weighted average 30 years), with amortization being recorded on a straight line basis. IPR&D intangible assets tota ling $2,940.0 million represent the value assigned to R&D projects acquired . The IPR&D intangible assets are capitalized and accounted for as indefinite-lived intangible assets and will be subject to impairment testing until completion or abandonment of the projects. Upon successful completion of each project and launch of the product, the Company will make a separate determination of the estimated useful life of the IPR&D intangible asset and the related amortization will be recorded as an expense over the estimated useful life. Some of the more significant assumptions inherent in the development of those asset valuations include the estimated net cash flows for each year for each asset or product (including net revenues, cost of sales, R&D costs, selling and marketing costs, working capital/asset contributory asset charges and other cash flow assumptions), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset's life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream as well as other factors. The discount rate used to arrive at the present value at the acquisition date of IPR&D intangible ranged from 10.0% to 11.0% to reflect the internal rate of return and incremental commercial uncertainty in the cash flow projections. No assurances can be given that the underlying assumptions used to prepare the discounted cash flow analysis will not change. For these and other reasons, actual results may vary significantly from estimated results. Goodwill Goo dwill of $ 6,106.4 million, which is not deductible for tax purposes, includes the expected synergies that will result from combining the operations of Baxalta 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 value of the assembled workforce; and impacted by establishing a deferred tax liability for the acquired identifiable intangible assets which have no tax basis. In the three and six months ended June 30, 2016 the Company expensed $414.5 million and $442.3 million, respectively, relating to the acquisition and integration of Baxalta , which have been recorded within Integration and acquisition costs in the Company's Unaudited Consolidated Statements of Income Contingent Consideration The Company acquired certain contingent obligations classified as contingent consideration related to Baxalta's historical business combinations. Additional consideration is conditionally due upon the achievement of development, regulatory, first commercial sale and other sales milestones, which could total up to approximately $1.5 billion. The Company may also pay royalties based on certain product sales . The Company estimated the fair value of the contingent consideration acquired to be $166.0 million using a probability weighting approach that considered the possible outcomes based on assumptions related to the timing and probability of the product launch date, discount rates matched to the timing of first payment, and probability of success rates and discount adjustments on the related cash flows. Retirement plans The Company acquired pension plans as part of the acquisition of Baxalta , including defined benefit and post-retirement pension plans in the United States and foreign jurisdictions which had a net liability balance of $ 610.4 million. As of June 3 , 2016, the Baxalta defined benefit pension plans had a ssets with a fair value of $ 358.5 million. 3 Months Ended June 30, 6 Months Ended June 30, 2016 2015 2016 2015 $’M $’M $’M $’M _______________ _______________ _______________ _______________ Revenues 3,484.1 2,986.6 6,741.4 5,836.0 Net income/(loss) from continuing operations 716.0 (401.4) 1,177.3 (976.1) _______________ _______________ _______________ _______________ Per share amounts: Net income/(loss) from continuing operations per share - basic $ 0.81 $ (0.45) $ 1.33 $ (1.09) Net income/(loss) from continuing operations per share - diluted $ 0.81 $ (0.45) $ 1.32 $ (1.09) _______________ _______________ _______________ _______________ The unaudited pro forma financial information above reflects the following pro forma adjustments: an adjustment to increase net income for the three and six months ended June 30, 2016 (by $361.6 million and $400.9 million , respectively ) to eliminate acquisition related costs incurred by Shire and Baxalta and a corresponding decrease in net income for the six months ended Jun e 30, 2015 by $400.9 million to give effect to the acquisition of Baxalta as if it had occurred on January 1, 2015; an adjustment to decrease net income for the three and six months ended June 30, 2015 (by $600.7 million and $1,201.3 million , respectively ) to reflect amortization of the fair value adjustments for inventory as inventory is sold and a corresponding increase in net income by $206.4 million for both the three and six months ended June 30, 2016 ; an adjustment to increase amortization expense for the three and six months ended June 30 , 2016 (by $46.8 million and $201.0 million , respectively ) and for the three and six months ended to June 30 , 2015 (by $166.7 million and $333.4 million respectively ) , related to the identifiable intangible assets acq uired; an adjustment for the three and six months ended June 30 , 2015 (by $ 87.4 million and $ 174.0 million , respectively ) and for the three and six months ended June 30, 2016 ( by $42.5 million and $59.0 million respectively) primarily related to the additional interest expense associated with the debt incurred to partially fund the acquisition of Baxalta and the amortization of relat ed deferred debt issuance costs; and an adjustment to decrease depreciation expense for the three and six months ended June 30, 2015 ($5.2 million and $10.5 million , respectively ) and for the three and six months ended June 30, 2016 ($3.5 million and $8.7 million respectively) related to the fair value adjustment to property, plant and equipment acquired. The adjustments above are stated net of their tax effects, where applicable . 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, former Dyax shareholders may receive additional value through a non-tradable contingent value right worth $4.00 per share, payable generally upon U . S . 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 m ost advanced clinical program was SHP643, a Phase 3 program with the potential for improved efficacy and convenience for HAE patients. SHP643 has received Fast Track, Breakthrough Therapy, and Orphan Drug designations by the FDA and has also received Orphan Drug status in the EU. Dyax's sole marketed product, KALBITOR, is a pKal 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 fair value consideration was $6,330.0 million, comprising cash paid on closing of $5,934.0 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 S tatements include the results of Dyax as of January 22, 2016. The amount of Dyax's post-acquisition revenues and pre-tax lo sses included in the Company's Unaudited Consolidated S tatement s of I ncome for the three months ended June 30, 2016 were $24.0 million and $131.9 million, respectively. The pre-tax loss includes charges on the unwind of inventory fair value adjustments of $1.5 million, intang ible assets amortization of $8.0 million and integration costs of $9.3 million. The amount of Dyax's post-acquisition revenues and pre-tax lo sses included in the Company's Unaudited Consolidated S tatement s of I ncome for the six months ended June 30, 2016 were $34.6 million and $186.4 million, respectively. The pre-tax loss includes charges on the unwind of inventory fair value adjustments of $2.6 million, intangi ble assets amortization of $14.0 million and integration costs of $30.3 million. In the second quarter of 2016, we adjusted our preliminary valuation and allocation of purchase price consideration. The adjustment, which was not material, decreased goodwill and deferred tax liabilities . The revised preliminary allocation of the total purchase price is as follows : 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 2,727.9 Other intangible assets, net - Currently marketed products 135.0 - IPR&D 4,100.0 - Contract based royalty arrangements 425.0 Other non-current assets 28.3 _______________ Total assets 7,704.8 _______________ LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses 30.0 Other current liabilities 1.7 Non-current liabilities: Deferred tax liability 1,341.7 Other non-current liabilities 1.4 _______________ Total liabilities 1,374.8 _______________ Preliminary fair value of identifiable assets acquired and liabilities assumed 6,330.0 _______________ Consideration Preliminary fair value of purchase consideration 6,330.0 The 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. Currently marketed product s 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. 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 IPR&D intangible assets are capitalized and accounted for as indefinite-lived intangible assets and will be subject to impairment testing until completion or abandonment of the projects. 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 development 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%. 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. Multiple 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 incremental 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. Goodwill Goodwill of $2, 72 7 .9 million, which is not deductible for tax purposes, includes the expected synergies that will result from combining 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 value of the assembled workforce; and impacted by establishing a deferred tax liability for the acquired identifiable intangible assets which have no tax basis. For the three and six months ended June 30, 2016 the Company expensed $ 2.0 million and $53.7 million, respectively, relating to the acquisition and integration of Dyax , which have been recorded within Integration and acquisition costs in the Company's Unaudited C onsolidated Statement of Income . 3 Months Ended June 30, 6 Months Ended June 30, 2016 2015 2016 2015 $’M $’M $’M $’M _______________ _______________ _______________ _______________ Revenues 2,429.1 1,584.0 4,144.3 3,092.8 Net income/(loss) from continuing operations 88.6 128.3 490.2 406.3 _______________ _______________ _______________ _______________ Per share amounts: Net income/(loss) from continuing operations per share - basic $ 0.13 $ 0.22 $ 0.77 $ 0.69 Net income/(loss) from continuing operations per share - diluted $ 0.13 $ 0.22 $ 0.77 $ 0.69 _______________ _______________ _______________ _______________ The unaudited pro forma financial information above reflects the following pro forma adjustments: an adjustment to increase net income for the three and six months ended June 30, 2016 (by approximately $2.0 million and $101.2 million , respectively) to eliminate acquisition related costs incurred by Shire and Dyax and a corresponding decrease in net income for the six months ended June 30, 2015 by approximately $101.2 million to give effect to the acquisition of Dyax as if it had occurred on January 1, 2015; an adjustment to decrease net income for the three and six months ended June 30 , 2015 of $1.6 million and $2.3 million, respectively, to reflect amortization of the fair value adjustments for inventory as inventory is sold; an adjustment to increase amortization expense for the three and six months ended June 30 , 2015 of $5.4 million and $10.8 million, respectively, and $1.3 million for the six months ended June 30 , 2016 related to the identifiable intangible assets acquired; and an adjustment to record interest expense for the three and six months ended June 30 , 2015 of $20.4 million and $40.8 million, respectively associated with the debt incurred to partially fund the acquisition of Dyax and the amortization of related deferred debt issuance costs. The 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 $5,220 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 U . S . 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 U . S . and indicated as an adjunct to calcium and vitamin D to control hypocalcemia in patients with hypoparathyroidism (“HPT”), who are not well controlled on calcium and vitamin D alone, 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 Unaudited Consolidated Financial S tatements 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 _______________ Currently marketed products Other intangible assets totaling $4,640.0 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. 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 U . S . and as Mimpara in the EU; Janssen markets tapentadol as Nucynta in the U . S . ; 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. 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. 3 Months Ended to June 30, 6 Months Ended to June 30, 2015 2015 $’M $’M _______________ _______________ Revenues 1,557.6 3,075.9 Net income from continuing operations 167.8 526.6 _______________ _______________ Per share amounts: Net income from continuing operations per share - basic $0.28 $0.96 Net income from continuing operations per share - diluted $0.28 $0.95 _______________ _______________ The unaudited pro forma financial information above reflects the following pro forma adjustments: an adjustment to increase net income for the three and six months ended June 30, 2015 (by approximately $ 0.4 million and $ 106.8 million , respectively) to eliminate acquisition related costs incurred by Shire and NPS; an adjustment to in crease net income by $3.1 million and $9.2 million for the three and six months ended June 30, 2015 respectively, to reflect charges on the unwind of inventory fair value adjustments as acq uisition date inventory is sold ; an adjustment to increase amortization expense for the three and six months ended June 30 , 2015 (by approximately $ nil and $21.1 million respectively), related to the identifiable intangible assets acquired; The adjustments above are stated net of their tax effects, where applicable .

Collaborative and Other Licensi

Collaborative and Other Licensing Arrangements	6 Months Ended
	Jun. 30, 2016
Collaborative and Other Licensing Arrangements Disclosure [Abstract]
Collaborative and Other Licensing Arrangements [Text Block]	3 . Collaborative and other licensing arrangements The Company is party to certain collaborative or licensing arrangements. 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. Out-licensing 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. Under the terms of these collaborative and licensing arrangements, the Company may receive development milestone payments up to an aggregate amount of $ 32 .0 million and sales milestones up to an aggregate amount of $ 42 .7 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 six months ended June 30, 2016 , the Company received cash related to up-front and milestone payments of $ 0.5 million (2015: $12.6 million). No amount was received in either of the three months ended June 30, 2016 or 2015. In the three and six months ended June 30, 2016 , the Company recognized milestone income of $1.0 million and $ 2.3 million , respectively (2015: $0.5 million and $ 1.0 million , respectively ) , in other revenues of $16.2 million and $ 31 . 3 million , respectively (2015: $14.2 million and $ 23.4 million , respectively ) , in product sales for shipment of product to the relevant licensee. Collaboration and i n-licensing arrangements The Company acquired various collaborative and in- licensing arrangements through its acquisition of Baxalta . These agreements generally provide for commercialization rights to a product or products being developed by the counterparty, and in exchange often resulted in an upfront payment upon execution of the agreement and an obligation that the Company make future development, regulatory a pproval or commercial milestone payments as well as royalty payments. The following is a description of the significant collaboration agreements acquired as part of the acquisition of Baxalta . The acquisition-date fair value of these collaboration agreements was included in the IPR&D. Precision BioSciences In June 2016, the C ompany acquired a strategic immuno-oncology collaboration with Precision BioSciences ( “ Precision ” ), a private biopharmaceutical company based in the United States, specializing in genome editing technology. The C ompany acquired the collaboration through the acquisition of Baxalta , which previously entered into the agreement in February 2016. Together, Shire and Precision will develop chimeric antigen receptor ( “ CAR ” ) T cell therapies for up to six unique targets, with the first program expected to enter clinical studies in late 2017. On a product-by-product basis, following successful completion of early-stage research activities up to Phase 2, Shire will have exclusive option rights to complete late-stage development and worldwide commercialization. Precision is responsible for development costs for each target prior to option exercise. Precision also has the right to participate in the development and commercialization of any licensed products resulting from the collaboration through a 50/50 co-development and co-promotion option in the United States. As of the date the agreement was acquired, June 3, 2016 and as of the balance sheet date , the C ompany had the potential to make future payments related to option f ees and development, regulatory and commercial milestones totaling up to $1.6 billion, in addition to future royalty payments on worldwide sales. Symphogen In June 2016, the C ompany acquired a research, option and commercial agreement with Symphogen , a private biopharmaceutical company headquartered in Denmark that is developing recombinant antibodies and antibody mixtures. The C ompany acquired the agreement through the acquisition of Baxalta , which previously entered into the agreement in December 2015. Under the terms of the agreement, the Company has options to obtain exclusive licensing rights for three specified proteins in development for the treatment of immune-oncology diseases as well as three additional proteins that may be selected at a later date. Each option is exercisable for a period of 90 days when ea ch protein is ready for Phase 2 clinical trials. Symphogen is responsible for development costs for each protein until option exercise, at which point Shire would be come responsible for development costs. Each option exercise fee is variable depending on when it is exercised, with a maximum exercise price of up to €20 million for each protein. As of the date the agreement was acquired, June 3, 2016 and as of the balance sheet date , the C ompany had the potential to make additional future payments of up to approximately €1.2 billion related to development, regulatory and commercial milestones achieved after option exercise for all six proteins, in addition to future royalty payments. Merrimack Pharmaceuticals, Inc. In June 2016, the Company acquired an exclusive license agreement with Merrimack Pharmaceuticals, Inc. ( “ Merrimack ” ) relating to the development and commercialization of ONIVYDE ( nanoliposomal irinotecan injection), also known as “ nal -IRI” or MM-398 . The C ompany acquired the agreement through the acquisition of Baxalta , which previously entered into the agreement in September 2014. The arrangement includes all potential indications for nal -IRI across all markets with the exception of the United States and Taiwan. The first indication being pursued is for the treatment of patients with metastatic pancreatic cancer who were previously treated with gemcitabine-based therapy. As of the date the agreement was acquired, June 3, 2016 and as of the balance sheet date , the Company had the potential to make future payments of up to approximately $678 million related to the achievement of development, reg ulatory and commercial milestones, in addition to future royalty payments. Coherus Biosciences, Inc. In June 2016, the Company acquired an exclusive license agreement with Coherus Biosciences, Inc. ( “ Coherus ” ) to develop and commercialize a biosimilar to ENBREL ® ( etanercept ) , which is indicated for the treatment of certain autoimmune deficiencies, in Europe, Canada, Brazil and certain other markets. The C ompany acquired the agreement through the acquisition of Baxalta , which previously entered into the agreement in August 2013. The C ompany also obtained the right of first refusal to certain other biosimilars in the collaboration. Under the terms of the agreement, Coherus is responsible for the development plan, preparation of regulatory filings, and manufacture of the product, subject to certain cost reimbursement by the Company. The Company can terminate the agreement if certain costs exceed a specific cap. As of the date the agreement was acquired, June 3, 2016 and as of the balance sheet date , the C ompany had the potential to make future payments of up to $70 million relating to the achievement of development and regulatory milestones, in addition to future royalty payments. Momenta Pharmaceuticals, Inc. In June 2016, the Company acquired an exclusive license agreement with Momenta Pharmaceuticals, Inc. (“Momenta”) to develop and commercialize biosimilars , including adalimumab ( BAX 2 923 ) , a biosimilar product candidate for HUMIRA ® ( adalimumab ) , which is indicated for the treatment of patients with autoimmune and inflammatory diseases . The agreement was acquired through the acquisition of Baxalta , which initially entered into the agreement in February 2012. The arrangement includes specified funding by the Company, as well as other responsibilities, relating to development and commercialization activities. As of the date the agreement was acquired, June 3, 2016 and as of the balance sheet date , the C ompany had the potential to make future royalty and profit-sharing payments. Other arrangements SFJ Pharmaceuticals Group On June 19, 2015, Baxalta entered into an agreement with SFJ Pharmaceuticals IX, L.P., a SFJ Pharmaceuticals Group company ( “ SFJ ” ) r elating to BAX 2923, whereby SFJ will fund up to $165 million of specified development costs related to the BAX 2923 program (with an option to increase funding by an additional $35 million), in exchange for payments in the event the product obtains regulatory approval in the United States and Europe. The contingent success payments total approximately 5.5 times the incurred and reimbursed development costs and are payable in annual instalments over an approximate nine-year period following the dates of U . S . and EU regulatory approval, respectively. Additionally, there are certain termination provisions that may trigger payment of the contingent success payments prior to regulatory approval. The Company will issue a promissory note to SFJ for the contingent success payments upon U . S . and EU regulatory approval or termination of the agreement, if applicable. The preliminary fair value of the assumed contingency has been recorded as a long-term liability at June 3, 2016 and as of the balance sheet date , as part of Company's purchase accounting for the Baxalta acquisition. The fair value of the assumed contingency on the date of acquisition was $ 288.6 million, which represents the probability adjusted present value of the Company's contingent obligation of $ 451.5 million . Unfunded Contingent Payments At June 30, 2016, the C ompany's unfunded contingent milestone payments associated with all of its collaborative and other licensing arrangements acquired from Baxalta totaled $1.8 billion. This total includes contingent payments associated with R&D costs funded by collaboration partners through June 30, 2016. This total excludes contingent royalty and profit-sharing payments, contingent payment liabilities arising from business combinations, potential milestone payments and option exercise fees associated with certain of the C ompany's collaboration agreements that become payable only if the C ompany chooses to exercise one or more of its options and potential contingent payments associated with R&D costs that may be funded by collaboration partners in the future.

Integration and acquisition cos

Integration and acquisition costs	6 Months Ended
	Jun. 30, 2016
IntegrationAndAcquisitionCosts[Abstract]
Integration and acquisition costs	4 . Integration and A cquisition C osts For the three and six months ended June 30, 2016 Shire recorded integration and acquisition costs of $ 363.0 million and $ 454.1 million , respectively, primarily related to the acquisition s and integration of Baxalta and Dyax . The Baxalta integration is estimated to be completed by mid to late 2019. As part of the Company's activities to integrate Baxalta , it terminated certain employees. As of June 30, 2016 , the Company incurred costs relating to employee termination benefits of $ 253.1 million including severance and acceleration of stock compensation . The C ompany expects to incur additional integration related severance expense . As of the current period no cash payments related to this severance have been made. For the three and six months ended June 30, 2015 Shire recorded a net credit to integration and acquisition costs of $212.4 million and $136.7 million , respectively. The net credit principally comprises ( i ) costs related to the acquisition and integration of NPS ($47.8 million and $117.7 million in the three and six months ended June 30, 2015 , respectively), offset by (ii) a net credit relating to the change in the fair value of contingent consideration liabilities of $258.1 million and $255.7 million in the three and six months ended June 30, 2015 , respectively. The net credit relating to the change in fair value of contingent consideration liabilities principally relates to the acquisition of Lumena Pharmaceuticals, Inc. (“ Lumena ”), reflecting a lower probability of success for the SHP625 asset (for the treatment of cholestatic liver diseases) following the receipt of data from certain Phase 2 studies, and the acquisition of Lotus Tissue Repair, Inc. (“Lotus Tissue Repair”), reflecting a lower probability of success for the SHP608 asset (for the treatment of Dystrophic Epidermolysis Bullosa (“DEB”)) as a result of certain preclinical toxicity findings .

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2016
DiscontinuedOperationsAndDisposalGroupsAbstract
Results of discontinued operations Disclosure	5. 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 Company's Unaudited C onsolidated S tatements of I ncome for all periods presented. For the three and six months ended June 30, 2016 , the Company recorded a loss of $ 248. 7 million (net of tax benefit of $ 100.9 million ) and $ 239.2 million (net of tax benefit of $ 95.4 million), respectively, primarily related to a provision for a possible civil settlement . For details of the legal provision see Note 21, Legal and other proceedings. For the three and six months ended June 30, 2015, the Company recorded a loss of $ 4.5 million ( net of tax benefit of $ 2.6 million) and $ 7.0 million (net of tax benefit of $ 4.0 million ), respectively, related to costs associated with the sale .

Accounts Receivable, Net

Accounts Receivable, Net	6 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
Accounts Receivable Disclosure	6 . Accounts R eceivable Accounts receivable at June 30 , 2016 of $2,412.4 million ( December 31 , 2015 : $ 1,201.2 million) , are net of reserve for disco unts and allowances of $124.4 million (December 31 , 2015 : $55.8 million ) . Reserve for discounts and allowances : 2016 2015 $’M $’M _____________ _____________ As of January 1, 55.8 48.5 Provision charged to operations 269.6 186.6 Payments/credits related to sales (201.0) (181.6) _____________ _____________ As of June 30, 124.4 53.5 _____________ _____________ A s of June 30 , 2016 accounts receivable included $ 1 00.0 million (December 31, 2015: $ 7 9 . 0 million) related to royalty income .

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Inventory Disclosure	7 . Inventories At June 30, 2016 , inventories include $ 4,823.6 million in respect of the fair value of inventories acquired with Baxalta , stated at fair value (being estimated selling price less estimated costs to complete and sell). All other inventories are stated at the lower of cost or market. Inventories comprise : June 30, December 31, 2016 2015 $’M $’M ____________ ____________ Finished goods 1,389.2 184.9 Work-in-progress 3,409.0 302.0 Raw materials 1,000.5 148.5 ____________ ____________ 5,798.7 635.4 ____________ ____________

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure	8. Property, plant and equipment June 30, December 31, 2016 2015 $’M $’M ____________ ____________ Land 356.2 96.7 Buildings and leasehold improvements 1,965.8 606.4 Machinery, equipment and other 2,158.3 827.4 Assets under construction 2,963.2 93.7 ____________ ____________ 7,443.5 1,624.2 Less: Accumulated depreciation (847.2) (796.1) ____________ ____________ 6,596.3 828.1 ____________ ____________ Depreciation expense for the three and six months ended June 30, 2016 was $ 47.9 million and $ 82.2 million, respectively, and for the three and six months ended June 30, 2015 was $ 39.9 million and $ 72.2 million, respectively.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Other Intangible Assets Disclosure	9. I ntangible A ssets (in millions) IP rights for marketed products Other intangible assets IPR&D Unamortized Total June 30, 2016 Gross acquired intangible assets 33,929.5 872.2 8,371.8 43,173.5 Accumulated amortization (2,142.8) (140.4) - (2,283.2) Other intangible assets, net 31,786.7 731.8 8,371.8 40,890.3 December 31, 2015 Gross acquired intangible assets 9,371.9 375.0 1,362.0 11,108.9 Accumulated amortization (1,852.1) (83.5) - (1,935.6) Other intangible assets, net 7,519.8 291.5 1,362.0 9,173.3 Other i ntangible assets are comprised primarily of royalty rights and other contract rights associated with Baxalta, Dyax and NPS . The change in the net book value of intangible assets for the six months ended June 30 , 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 32,222.2 5,167.8 Amortization charged (347.6) (219.6) Impairment charges (8.9) (523.3) Foreign currency translation (148.7) (48.9) ________________ ________________ As of June 30, 40,890.3 9,310.4 ________________ ________________ In connection with the acquisition of Baxalta on June 3, 2016, the Company acquired IP rights rela ted to marketed products of $24,550.0 million, IPR&D assets of $2,940.0 million and other contract rights of $ 72.2 million. For a more detailed description of this acquisition , please see Note 2 , Business Combinations, to these Unaudited C onsolidated F inancial S tatements. In connection with the 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 of $42 5 million. For a more detailed description of this acquisition , please see Note 2 , Business Combinations , to these Unaudited C onsolidated F inancial S tatements. 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 . The estimated future amortization of acquired intangible assets for the next five years is expected to be as follows: (in millions) Anticipated future amortization _______________ 2016 (remaining six months) 706.1 2017 1,411.3 2018 1,404.6 2019 1,325.8 2020 1,321.7 2021 1,315.4

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Disclosure	10 . 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 8,834.3 1,720.6 Foreign currency translation (19.7) (22.2) ____________ ____________ As of June 30, 12,962.4 4,173.3 ____________ ____________ The increase in goodwill during the six months ended June 3 0 , 2016 was related to our acquisition s of Baxalta and Dyax. For a m ore detailed description of these transaction s , please see Note 2 , Business Combinations , to these Unaudited C onsolidated F inancial S tatements .

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	11. 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 June 30, 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 June 30, 2016 $'M $'M $'M $'M ____________ ___________ ___________ ___________ Financial assets: Marketable equity securities 54.4 54.4 - - Marketable debt securities 16.8 3.7 13.1 Contingent consideration receivable 17.5 - - 17.5 Derivative instruments 65.3 - 65.3 - Financial liabilities: Derivative instruments 40.7 - 40.7 - Contingent consideration payable 993.8 - - 993.8 ____________ ___________ ___________ ___________ 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 . For derivative see Note 12, Financial Instruments. 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. Marketable debt securities – the fair values of debt securities are obtained from pricing services or broker/dealers who either use quoted prices in an active market or proprietary pricing applications, which include observable market information for like or same securities. 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 2.1 8.6 Other 1.6 (7.8) Balance at June 30, 17.5 16.7 Contingent consideration payable 2016 2015 $'M $'M ____________ ____________ Balance at January 1, 475.9 629.9 Additions 562.5 92.1 Change in fair value included in earnings (45.0) (255.7) Other 0.4 (1.6) Balance at June 30, 993.8 464.7 The increase in contingent consideration payable is related to the Company's acquisition of Dyax as well as contingent consideration payable assumed in the acquisition of Baxalta . Other primarily includes foreign currency adjustments. O f the $ 993.8 million of contingent consideration payable as of June 3 0 , 201 6 , $ 49.2 million is recorded within O ther current liabilities and $ 944.6 million is recorded within O ther non-current liabilities in the Company's Unaudited Consolidated B alance S heet s . 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 June 30, 2016 Fair value Valuation technique Significant unobservable inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration receivable 17.5 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 $25 million • 8.4% ____________ ____________ ____________ ____________ Financial liabilities: Fair Value at the Measurement Date At June 30, 2016 Fair value Valuation technique Significant unobservable inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration payable 993.8 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 • 1 to 90% • 1.5 to 12.4% • 2016 to 2036 • $1.4 to $3.8 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 . 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. Financial a ssets and l iabilities that are not m easured at f air v alue on a r ecurring b asis The carrying amounts and estimated fair values as at June 30, 2016 and December 31, 201 5 of the Company's financial assets and liabilities which are not measured at fair value on a recurring basis are as follows: June 30, 2016 December 31, 2015 Carrying Carrying amount Fair value amount Fair value $’M $’M $’M $’M ____________ ____________ ____________ ___________ Financial liabilities: Senior notes 5,114.0 5,114.0 - - Capital lease obligation 348.9 348.9 13.4 13.4 ____________ ____________ ____________ ___________ The estimated fair values of long-term debt were computed by multiplying price by the notional amount of the respective debt instrument. Price is calculated using the stated terms of the respective debt instrument and yield curves commensurate with the company's credit risk. The discount factors used in the calculations reflect the non-performance risk of the company. The estimated fair value of capital lease obligations is based on Level 2 inputs. 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 .

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instrument Detail [Abstract]
Financial Instruments Disclosure	12. Financial I nstruments Foreign Currency Contracts Due to the global nature of our operations, portions of the Company's revenues and operating expenses are recorded in currencies other than the U.S. dollar. Transactional exposure arises where transactions occur in currencies different to the functional currency of the relevant subsidiary. The main trading currencies of the Company are the U . S . dollar, Pounds Sterling, Swiss Franc, Canadian dollar, Japanese Yen and the Euro. The value of revenues and operating expenses measured in U.S. dollars is therefore subject to changes in foreign currency exchange rates. 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. 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 these 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. The Company has elected to present derivative assets and derivative liabilities on a gross basis in the Unaudited C onsolidated B alance S heet . D esignated Derivative Instruments In connection with the acquisition of Baxalta t he Company has assumed foreign currency forward contracts and el ected to apply hedge accounting. These contracts have been designated as cash flow hedges and accordingly, to the extent effective, any unrealized gains or losses on these foreign currency forward contracts are reported in AOCI . Realized gains and losses for the effective portion of such contracts are recognized in revenue or cost of sales when the sale of product in the currency being hedged is recognized. To the extent ineffective, hedge transaction gains and loss es are reported in O ther income/ (expense), net. The amount of ineffectiveness for the three and six months ended June 30, 2016 was immaterial. At June 30, 2016 the f oreign currency forward contracts ha d a total notional value of $ 519.0 million with a maximum duration of 12 months. The Company did not have any forward contracts that were designated as derivative instruments as of December 31, 2015. The portion of the fair value of these foreign currency forward contracts that was included in AOCI in total equity reflected net losses of $ 3. 4 million as of June 30, 2016. The Company expects all contracts to be settled over the next 12 months and any amounts in AOCI to be reported as an adjustment to revenue or cost of sales . The Company considers the impact of its and its counterparties' credit risk on the fair value of the contracts as well as the ability of each party to execute its contractual obligations. As of June 30, 2016 , credit risk did not change the fair value of the Company's foreign currency forward contracts. Undesignated Derivative Instruments The Company uses forward contracts to hedge earnings from the effects of foreign exchange relating to certain of the Company's intercompany and third-party receivables and payables denominated in a foreign currency. These derivative instruments generally are not formally designated as hedges, the terms of these instruments generally do not exceed three month s and the change in fair value of these derivatives are reported in earnings. The notional amount of undesignated derivative instruments was $ 668.0 million and $ 625.5 million as of June 30, 2016 and 2015, respectively . The Company also has option contracts assumed from Baxalta that were previously designated as cash flow hedges . The notional amount of these option contracts total ed $ 37.6 million as of June 30, 2016 . Upon acquisition, the Company did not elect to redesignate these option contracts as cash flow hedges. In addition, the company also assumed undesignated forward contracts from Baxalta. The notional amount of these undesignated forward contracts totaled $ 2 49 . 3 million as of June 30, 2016. Interest Rate Contracts The Company is exposed to the risk that its earnings and cash flows could be adversely impacted by fluctuations in benchmark interest rates relating to its existing debt obligations or anticipated issuances of debt. The Company's policy is to manage this risk to an acceptable level. The Company is principally exposed to interest rate risk on any borrowings under the Company's various debt facilities and assumed in connection with the acquisition of Baxalta . Interest on each of these debt obligations is set at fixed and/or floating rates, to the extent utilized. Shire's exposure under these debt obligations is to changes in U.S. dollar interest rates. For further details related to interest rates on the Company's various debt facilities, please see Note 13 Borrowings, of these Unaudited Consolidated Financial Statements. D esignated Derivative Instruments In connection with the acquisition of Baxalta the Company assumed interest rate swap contracts on certain borrowing transactions. These interest rate swap contracts we re related to the issuance of Baxalta's Senior Notes with an aggregate notional amount of $ 1.0 billion , mature in June 2020 and June 2025 . Subsequent to the acquisition of Baxalta the Company redesignated these interest rate swap contracts as fair value hedges , based on their contractual terms, economic conditions, historic operating or accounting policies, and other conditions that existed at the acquisition date. The effective portion of the changes in the fair value of interest rate swap contracts are recorded as a component of the Senior Notes with immaterial net impact recorded in income . Any net interest payments made or received on the interest rate swap contracts are recognized as a component of interest expense in the Condensed Unaudited Consolidated Statements of Income. For further details related to Baxalta's Senior Notes, please s ee Note 13 , Borrowings, of these Unaudited Consolidated Financial Statements. As of June 30, 2016 the fair value of these contracts was $ 55.6 million (2015: $nil) presented within Other non-current assets . For the six months ended June 30, 2016, the Company recognized $ 22.1 million (2015: $nil) of gain related to these contracts, which was recognized as a component of interest expense. Undesignated Derivative Instruments During the six months ended June 30, 2016, the Company entered into interest rate swap contracts with a total notional amount of $5 . 1 b illion related to the November 2015 Facilities Agreement. The Company has not elected hedge accounting for these contracts. As of June 30, 2016 the fair value of these contracts was $4.6 million (2015: $nil) which is presented within other current liabilities. For the six months ended June 30, 2016, the Company recognized $4.6 million (2015: $nil) loss related to these contracts, which was recognized as a component of interest expense. The following tables summarize the income statement locations and gains and losses on the Company's designated and undesignated derivative instruments for the six months ended June 30, 2016. There were no designated derivatives for the six months ended June 30, 2015 . As of June 3 0 , 2016 , the Company h ad in total 351 interest rate swap and foreign exchange contracts. Gain (loss) recognized in OCI Income Statement location Gain (loss) reclassified from AOCI into income Six months to June 30, 2016 2015 2016 2015 (in millions) (in millions) Designated Derivative Instruments Cash flow hedges Foreign exchange contracts (3.4) - Cost of sales - - Location of gain (loss) in Income Statement Gain (loss) recognized in income Six months to June 30, 2016 2015 (in millions) Fair value hedges Interest rate contracts Interest expense 22.1 - Undesignated Derivative Instruments Foreign exchange contracts Other income, net (28.8) 21.3 Interest rate swap contracts Interest expense (4.6) - As of June 30, 2016, $ 2.3 million of deferred, net after-tax losses on derivative instruments included in AOCI are expected to be recognized in earnings during the next 12 months, coinciding with when the hedged items are expected to impact earnings. The following table presents the classification and estimated fair value of the C ompany's derivative instruments as of June 30, 2016 : Derivatives in asset positions Derivatives in liability positions (in millions) Balance Sheet location Fair Value Balance Sheet location Fair Value Designated Derivative Instruments Foreign exchange contracts Other current assets 1.8 Accrued liabilities 9.3 Interest rate contracts Other non-current assets 55.6 - 57.4 9.3 Undesignated Derivative Instruments Foreign exchange forward contracts Prepaid and other current assets 7.9 Accrued liabilities 26.8 Interest rate swap contracts Prepaid and other current assets - Accrued liabilities 4.6 65.3 40.7 As of June 30, 2016 , the potential effect of rights of set-off associated with the Interest rate swap and foreign exchange forward contracts would be an offset to both assets and liabilities of $ 11 . 1 million , resulting in net derivative assets and derivative liabilities of $ 5 4 . 2 million and $ 2 9 . 6 million, respectively .

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2016
Borrowings [Abstract]
Borrowings Disclosure	13. Borrowings and Capital Lease Obligations June 30, December 31, 2016 2015 $’M $’M _____________ _____________ Short term borrowings: Borrowings under the Revolving Credit Facilities Agreement 905.0 750.0 Borrowings under the November 2015 Facilities Agreement 1,788.3 - Borrowings under the January 2015 Facilities Agreement - 750.0 Other borrowings 16.6 11.5 Capital lease obligations (current portion) 5.3 _____________ _____________ 2,715.2 1,511.5 Long term borrowings: Senior notes 5,114.0 - Borrowings under the January 2016 Facilities Agreement 12,341.6 - Borrowings under the November 2015 Facilities Agreement 3,792.1 - Other borrowings 64.4 69.9 Capital lease obligations (long term portion) 343.6 - _____________ _____________ 24,370.9 1,581.4 _____________ _____________ The future payments on debt maturities and capital lease obligations as of June 30, 2016 are as follows: $'M 2016 (remaining six months) 1,010.0 2017 2,231.0 2018 15,574.8 2019 44.2 2020 1,946.7 2021 18.5 Thereafter 3,621.3 Total obligations 24,446.5 Fair value hedges, unamortized bond premium and deferred financing costs (75.6) Total debt and capital lease obligations 24,370.9 For a more detailed description of the financing agreements in place prior to the combination with Baxalta , please see below, as well as Note 1 5 , Borrowings, of the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on February 23, 2016 . Senior Notes The Company guaranteed senior notes issued by Baxalta with a total aggregate principal amount of $ 5 billion in connection with the closing of the Baxalta acquisition (“Senior Notes”) . Below is a summary of the Senior Notes assumed by the Company through the Baxalta acquisition as of June 30, 2016 : (in millions, except for percentage information) Aggregate Principal Coupon Rate Effective interest rate in 2016 Carrying amount at June 30, 2016 Variable-rate notes due 2018 375.0 LIBOR plus 0.78% 1.43% 370.3 Fixed-rate notes due 2018 375.0 2.000% 2.2% 374.7 Fixed-rate notes due 2020 1,000.0 2.875% 3.0% 1,020.0 Fixed-rate notes due 2022 500.0 3.600% 3.7% 509.1 Fixed-rate notes due 2025 1,750.0 4.000% 4.2% 1,807.6 Fixed-rate notes due 2045 1,000.0 5.250% 5.6% 1,032.3 _______________ Total assumed Senior Notes 5,114.0 The effect ive interest rates above exclude the effect of any related interest rate swaps. The book values above include any premiums and adjustments related to hedging instruments. For further details related to the interest rate derivative contracts, please see Note 18, Financial Instruments, of these U naudited C onsolidated F inancial S tatements. Revolving Credit Facilities Agreement Baxalta Revolving Credit Facilities – cancelled on closing The $1,200 .0 million senior revolving credit facility and the €200 .0 million Euro-denominated senior revolving credit facility available to Baxalta were cancelled by the Company upon the closing of the combination with Baxalta . Revolving Credit Facilities Agreement On December 12, 2014, Shire entered into a $2,100 .0 million revolving credit fac ilities agreement (the “RCF ”) with a number of financial institutions. As of June 30, 2016 the Company utilized $ 905 .0 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 .0 million U . S . dollar and Euro 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”). 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, 2 017 ("January 2016 Facility B") . January 2016 Facility A was utilized to finance the cash consideration payable and certain costs related to the acquisition of Baxalta on June 3, 2016 in the amount of $12,390 .0 million. Due to the available extension option without any restrictions, January 2016 Facility A is cl assified as a long term borrowing . As of June 30 , 2016, the Company reduced the January 2016 Facility A commitment by $610 .0 million. January 2016 Facility B was cancelled effective July 11, 2016 , in accordance with its terms . 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 June 3 0 , 2016, the November 2015 Facilities Agreement was fully utilized to finance the cash consideration payable and certain costs related to Shire's acquisition of Dyax . 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 June 3 0 , 201 6 these Credit lines were not utilized . Capital Lease Obligations The Company assumed certain capital lease obligations related to the Baxalta acquisition. These leases are primarily related to manufacturing facilities and as of June 30, 2016, the total capital lease obligation, including current portions, was $ 3 48. 9 million .

Retirement Benefits

Retirement Benefits	6 Months Ended
	Jun. 30, 2016
Retirement and Other Benefit Programs
Retirement and Other Benefit Programs	14 . Retirement and Other Benefit Programs As part of the acquisition of Baxalta , the Company assumed certain pension and other post-employment benefit ( “ OPEB ” ) plan obligations and plan assets. The following is a summary of the fair value of the pension and OPEB-related balances assumed as of June 3, 2016, the acquisition date. U.S. Pension International pension OPEB (in millions) Projected Benefit Obligation and Plan Assets Assumed Projected benefit obligation 441.6 503.8 23.5 Plan assets 218.0 140.5 - Funded status as of June 3, 2016 (223.6) (363.3) (23.5) Amounts Recognized in the Consolidated Balance Sheet Other current liabilities (0.2) (3.1) 0.0 Other non-current liabilities (223.4) (360.2) (23.5) Net liability recognized as of June 3, 2016 (223.6) (363.3) (23.5) The Company did not assume any gains or losses deferred in AOCI. Accumulated Benefit Obligation Information The pension obligation information in the table above represents the projected benefit obligation (“ PBO ”) assumed as of June 3, 2016 . The PBO incorporates assumptions relating to future compensation levels. The accumulated benefit obligation ( “ ABO ” ) is the same as the PBO except that it includes no assumptions relating to future compensation levels. The ABO for all of the C ompany's U.S. pension plans was $ 369.2 million as of June 3, 2016. The ABO for all of the C ompany's International pension plans was $ 386.8 million as of June 3, 2016. The information in the funded status table above represents the totals for all of the C ompany's pension plans. The following is information relating to the individual plans as of June 3, 2016 in the funded status table above that have an ABO in excess of plan assets. June 3, 2016 $'M U.S. ABO 369.2 Fair value of plan assets 218.0 International ABO 364.9 Fair value of plan assets 118.2 Expected Net Pension and OPEB Plan Payments for the Next 10 Years U.S. Pension International pension OPEB $'M $'M $'M 2016 (after June 3, 2016) 0.9 7.3 - 2017 3.6 14.7 0.2 2018 5.4 14.6 0.3 2019 7.3 16.2 0.4 2020 9.3 16.7 0.5 2021 through 2025 75.6 104.8 3.5 Total expected benefit payments for next 10 years 102.1 174.3 4.9 The expected net benefit payments above reflect the C ompany's share of the total net benefits expected to be paid from the plans' assets (for funded plans) or from the C ompany's assets (for unfunded plans). The federal subsidies relating to the Medicare Prescription Drug, Improvement and Modernization Act are not expected to be significant. Net Periodic Benefit Cost The net periodic benefit cost presented below is from the June 3, 2016 assumption of the obligations to June 30, 2016. 3 and 6 Months Ended June 30, 2016 U.S. Pension International pension OPEB $'M $'M $'M Net periodic benefit cost Service cost 1.9 2.6 0.1 Interest cost 1.6 0.4 0.1 Expected return on plan assets (1.3) (0.5) - Net periodic benefit cost 2.2 2.5 0.2 Weighted-Average Assumptions Used in Determining Benefit Obligations at the Measurement Date U.S. Pension International pension OPEB Discount rate 4.1% 1.0% 4.2% Rate of compensation increase 3.8% 3.2% n/a Annual rate of increase in the per-capita cost n/a n/a 6.5% Rate decreased to n/a n/a 5.0% by the year ended n/a n/a 2022 The assumptions above, which were used in calculating the June 3, 2016 measurement date benefit obligations, are used in the calculation of net periodic benefit cost in 2016 along with the expected return on plan asset assumption. The Company establishes the expected return on plan assets assumption primarily based on a review of historical compou nd average asset returns, both C ompany-specific and relating to the broad market (based on the C ompany's asset allocation), as well as an analysis of current market and economic informatio n and future expectations. The C ompany plans to use weighted-average assumptions of 7.0% and 4.5% for its U.S. and International funded plans, respectively, for the remainder of 2016 . Pension Plan Assets A committee of members of senior management is responsible for supervising, monitoring and evaluating the invested assets of the Company's funded pension plans. The committee abides by policies and procedures relating to investment goals, targeted asset allocations, risk management practices, allowable and prohibited investment holdings, diversification, use of derivatives, the relationship between plan assets and benefit obligations, and other relevant factors and considerations. In the United States, Goldman Sachs Asset Management acts as an outsour ced chief investment officer (“ o CIO ”) to perform the day-to-day management of pension assets. The policies and procedures include the following: • Ability to pay all benefits when due; • Targeted long-term performance expectations relative to applicable market indices, such as Standard & Poor's, Russell, MSCI EAFE, and other indices; • Targeted asset allocation percentage ranges (summarized below), and periodic reviews of these allocations; • Specified investment holding and transaction prohibitions (for example, private placements or other restricted securities, securities that are not traded in a sufficiently active market, short sales, certain derivatives, commodities and margin transactions); • Specified portfolio percentage limits on holdings in a single corporate or other entity (generally 5%, except for holdings in U.S. government or agency securities); • Specified average credit quality for the fixed-income securities portfolio (at least A- by Standard & Poor's or A3 by Moody's); • Specified portfolio percentage limits on foreign holdings; and • Periodic monitoring of oCIO performance and adherence to policies. Plan assets are invested using a total return investment approach whereby a mix of equity securities, debt securities and other investments are used to preserve asset values, diversify risk and exceed the planned benchmark investment return. Investment strategies and asset allocations are based on consideration of plan liabilities, the plans' funded status and other factors, such as the plans' demographics and liability durations. Investment performance is reviewed on a quarterly basis and asset allocations are reviewed at least annually. Plan assets are managed in a balanced equity and fixed income portfolio. The target allocations for plan assets are 75 percent in an equity portfolio and 25 percent in a fixed income portfolio. The documented policy includes an allocation range based on each individual investment type within the major portfolios that allows for a variance from the target allocations of approximately 5% . The equity portfolio may include common stock of U.S. and international companies, common/collective trust funds, mutual fun ds, hedge funds and real asset investments. The fixed income portfolio may include cash, money market funds with an original maturity of three months or less, U.S. and foreign government and governmental agency issues, common/collective trust funds, corporate bonds, municipal securities, derivative contracts and asset-backed securities. While the committee provides oversight over plan assets for U.S. and international plans, the summary above is specific to the plans in the U.S . The plan assets for international plans are managed and allocated by the entities in each country, with input and oversight provided by the committee. The following tables summarize the bases used to measure the pension plan assets and liabilities that are carried at fair value on a recurring basis for the U.S. funded plan. Basis of fair value measurement Balance at June 3, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) $'M $'M $'M $'M Assets Fixed income Cash equivalents 4.4 - 4.4 - Common/collective trust funds 53.4 - 53.4 - Equity Common/collective trust funds 149.5 - 149.5 - Hedge funds 10.7 - 10.7 - Fair value of pension plan assets 218.0 - 218.0 - The following tables summarize the bases used to measure the pension plan assets and liabilities that are carried at fair value on a recurring basis for the international funded plans. Basis of fair value measurement (in millions) Balance at June 3, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets Fixed income Cash and cash equivalents 9.7 9.7 - - Government agency issues 1.5 1.5 - - Corporate bonds 30.1 30.1 - - Mutual funds 40.5 40.5 - - Equity Common stock: Large cap 15.7 15.7 - - Mid cap 1.6 1.6 - - Total common stock 17.3 17.3 - - Mutual funds 21.5 21.5 - - Real estate funds 10.2 8.4 1.8 - Other holdings 9.7 0.1 9.6 - Fair value of pension plan assets 140.5 129.1 11.4 - The assets and liabilities of the C ompany's pension plans are valued using the following valuation methods: Investment category Valuation methodology Cash and cash equivalents These largely consist of a short-term investment fund, U.S. dollars and foreign currency. The fair value of the short-term investment fund is based on the net asset value Government agency issues Values are based on quoted prices in an active market Corporate bonds Values are based on the valuation date in an active market Common stock Values are based on the closing prices on the valuation date in an active market on national and international stock exchanges Mutual funds Values are based on the net asset value of the units held in the respective fund which are obtained from national and international exchanges Common/collective trust funds and hedge funds Values are based on the net asset value of the units held at year end Real estate funds The value of these assets are either determined by the net asset value of the units held in the respective fund which are obtained from national and international exchanges or based on the net asset value of the underlying assets of the fund provided by the fund manager Other holdings The value of these assets vary by investment type and are primarily based on reputable pricing vendors that typically use pricing matrices or models Expected Pension and OPEB Plan Funding The C ompany's funding policy for its pension plans is to contribute amounts sufficient to meet legal funding requirements, plus any additional amounts that the C ompany may determine to be appropriate considering the funded status of the plans, tax deductibility, the cash flows generated by the company, and other factors. Volatility in the global financial markets could have an unfavorable impact on future funding requirements. The C ompany has no obligation to fund its principal plans in the U.S. in 2016. The C ompany continually reassesses the amount and timing of any discretionary contributions. The C ompany expects to make cash contributions to its pension plans of at least $ 4 million for the second half of 2016, primarily related to the C ompany's international plans. The C ompany expects to have net cash outflows relating to its OPEB plan of less than $1 million for the second half of 2016. The table below details the funded status percentage of the C ompany's assumed pension plans from Baxalta as of the acquisition date, including certain plans that are unfunded in accordance with the guidelines of the C ompany's funding policy outlined above. United States International (in millions, except percentages) Qualified plans Nonqualified plans Funded plans Unfunded plans Total Fair value of plan assets 218.0 n/a 140.5 n/a 358.5 PBO 410.9 30.7 324.0 179.8 945.4 Funded status percentage 53% n/a 43% n/a 38%

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	15 . Accumulated O ther Comprehensive L oss The changes in accumulated other comprehensive loss , net of their related tax effects, for the six months ended June 30, 2016 and 2015 are included below: Foreign currency translation adjustment Pension and other employee benefits Unrealized holding loss on available-for-sale securities Hedging activities Pension and Other Postretirement Benefit Liability Adjustment Accumulated other comprehensive loss $'M $'M $'M $'M $'M $'M As of January 1, 2016 (182.1) (1.7) - - (183.8) Net current period other comprehensive loss (195.5) (4.7) (1.8) - (202.0) As of June 30, 2016 (377.6) - (6.4) (1.8) - (385.8) Foreign currency translation adjustment Pension and other employee benefits Unrealized holding (loss)/gain on available-for-sale securities Hedging activities Pension and Other Postretirement Benefit Liability Adjustment Accumulated other comprehensive loss $'M $'M $'M $'M $'M $'M As of January 1, 2015 (25.7) (5.8) - - (31.5) Net current period other comprehensive (loss)/income (83.3) 3.3 - - (80.0) As of June 30, 2015 (109.0) - (2.5) - - (111.5)

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share Disclosure	16 . Earnings per S hare The following table reconciles net income and loss and the weighted average ordinary shares outstanding for basic and diluted earnings per share for the periods presented: 3 Months Ended June 30, 6 Months Ended June 30, (in millions) 2016 2015 2016 2015 Income from continuing operations, net of taxes 86.6 164.1 496.1 577.0 Gain/(loss) from discontinued operations 1 (248.7) (4.5) (239.2) (7.0) _________________ _________________ _________________ _________________ Numerator for basic and diluted earnings per share (162.1) 159.6 256.9 570.0 _________________ _________________ _________________ _________________ Weighted average number of shares: (in millions) Basic 682.8 590.5 637.3 589.8 Effect of dilutive shares: Share-based awards to employees - 2.7 2.8 3.2 _________________ _________________ _________________ _________________ Diluted 682.8 593.2 640.1 593.0 _________________ _________________ _________________ _________________ Weighted average number of basic shares excludes shares purchased by the Employee Benefit Trust (“ EBT ”) and under the shares buy-back program a re 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 June 30, 6 Months Ended June 30, 2016 2015 2016 2015 No. of shares No. of shares No. of shares No. of shares Millions Millions Millions Millions _________________ _________________ _________________ _________________ Share-based awards to employees 8.3 1.0 4.4 3.2 _________________ _________________ _________________ _________________ Certain stock options have been excluded from the calculation of diluted Earnings per Share (“ EPS ”) for the six months ended June 30, 2016 and for the three and six months ended June 30, 2015 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. Stock options for the three months ended June 30, 2016 have been excluded from the calculation of diluted EPS because the inclusion of these shares would have been antidilutive.

Taxation

Taxation	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure	17 . Taxation For t he three and six months ended June 30, 2016, the effective tax rate on income from continuing operations was -427 % (2015: -37%) and 2 % (2015: 2%), respectively. The effective tax rate for the three and six months ended June 30, 2016 is a ffected by the combined impact of the relative quantum of the profit before tax for the period by jurisdiction and of the reversal of deferred tax liabilities from the Baxalta acquisition (including in higher tax territories such as the U.S.) of inventory and intangible assets amortization as well as significant acquisition and integration costs. The effective tax rate for the three months ended June 30, 2015 was negative primarily due to the reduction in deferred tax liabilities in relation to the impairment of IPR&D intangible assets, the re-measurement of uncertain tax positions relating to ongoing tax audits and the release of certain valuation allowances all recognized during the second quarter of 2015. The Company has historically calculated the provision for income taxes during interim reporting periods by applying an estimate of the annual effective tax rate for the full year to ordinary income or loss for the reporting period. For the three and six months ended June 30, 2016, the impact of certain items arising from the Baxalta acquisition has caused significant variations in the estimated effective tax rate when compared to the three and six months ended June 30, 2015. As a result, the Company has applied a permitted exception to the general rule by including the actual income tax effect of certain portions of its business discretely when calculating the provision for income taxes for the three and six months ended June 30, 2016 .

Segmental Reporting

Segmental Reporting	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure	18 . 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 al R eporting , of the Shire 2015 Form 10-K . In the periods set out below, revenues by major product were as follows: 6 Months Ended June 30, (in millions) 2016 2015 Product sales: CINRYZE $ 337.2 $ 286.9 ELAPRASE 277.6 271.5 FIRAZYR 265.0 196.6 REPLAGAL 221.6 214.4 VPRIV 171.6 171.1 KALBITOR 28.1 - Genetic Diseases total 1,301.1 1,140.5 VYVANSE 1,026.9 841.6 ADDERALL XR 200.6 181.7 Other Neuroscience 57.8 52.4 Neuroscience total 1,285.3 1,075.7 LIALDA/MEZAVANT 361.7 306.4 PENTASA 136.9 145.0 GATTEX/REVESTIVE 96.2 52.2 NATPARA 35.5 5.9 Other Internal Medicine 173.3 173.7 Internal Medicine total 803.6 683.2 HEMOPHILIA 275.6 - INHIBITOR THERAPIES 74.0 - Hematology total 349.6 - IMMUNOGLOBULIN THERAPIES 138.2 - BIO THERAPEUTICS 51.3 - Immunology total 189.5 - Oncology total 20.3 - Total product sales 3,949.4 2,899.4 Royalties and Other Revenues: SENSIPAR Royalties 73.5 45.2 3TC and ZEFFIX Royalties 27.1 18.0 FOSRENOL Royalties 20.6 19.2 ADDERALL XR Royalties 11.0 15.1 Other Royalties and Revenues 56.8 49.1 Total Royalties and Other Revenues 189.0 146.6 Total Revenues $ 4,138.4 $ 3,046.0

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure	19. Commitments and C ontingencies Leases Future minimum lease payments under operating leases as of June 30, 2016 are presented below: Operating leases $’M _____________ 2016 (remaining six months) 1 66.3 2017 1 102.3 2018 1 83.3 2019 1 71.3 2020 1 70.5 2021 67.7 Thereafter 1 299.2 111 _____________ 760.6 _____________ The Company leases land, facilities, motor vehicles and certain equipment under operating leases expiring through 20 39 . For the three and six months ended June 30, 2016, l ease and rental expense totaled $ 22.8 million and $ 30.3 million , respectively (2015: $ 10.1 million and $ 24.3 million , respectively ) , which is predominately included in SG&A expenses in the Company's Unaudited Consolidated Statement of Income . Letters of credit and guarantees A s of June 30 , 2016 , the Company had irrevocable standby letters of credit and guarantees with various banks and insurance companies totaling $ 14 5.0 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. On June 3, 2016, the Company provided a f ull and unconditional guarantee for Baxalta's obligations related to the Senior Notes . For additional details please s ee Note 26 , Guarantor Financial Information, to these Unaudited Consolidated Financial Statements. Commitments Clinical testing At June 30, 2016 , the Company had committed to pay approximately $ 1,008 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. Contract manufacturing At June 30, 2016 , the Company had committed to pay approximately $ 447 million (December 31, 2015 : $ 325 million) in respect of contract manufacturing. The Company expects to pay $ 213 million of these commitments in 201 6 . Other purchasing commitments At June 30, 2016 , the Company had committed to pay approximately $ 2,153 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 $ 865 million of these commitments in 201 6 . Investment commitments At June 30, 2016 , the Company had outstanding commitments to purchase common stock and interests in companies and partnerships , respectively, for amounts totaling $ 90 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 for which Shire is not the primary beneficiary. Capital commitments At June 30, 2016 , the Company had committed to spend $ 82 million (December 31, 2015 : $ 60 million) on capital projects. Baxter related tax indemnification Baxter and Baxalta entered into a tax matters agreement, effective on the date of Baxalta's separation from Baxter, which employs a direct tracing approach, or where direct tracing approach is not feasible, an allocation methodology, to determine which company is liable for pre-separation income tax items for U.S. federal, state and foreign jurisdictions. With respect to tax liabilities that are directly traceable or allocated to Baxalta but for which Baxalta was not the primary obligor, Baxalta recorded a tax indemnification amount that would be due to Baxter upon Baxter discharging the associated tax liability to the taxing authority. At June 30, 2016, the amount of the net tax indemnification amount was $ 37 million .

Legal and other proceedings

Legal and other proceedings	6 Months Ended
	Jun. 30, 2016
Legal Proceedings [Abstract]
Legal and other proceedings	20 . Legal 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. An outcome that deviates from the Company's estimate may result in an additional expense or release in a future accounting period. As of June 30, 2016 , provision for litigation losses, insurance claims and other disputes totaled $373.9 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 U.S. District Court for the District of New Jersey against the aforementioned parties (except Watson, who withdrew their ANDA). On June 23, 2014, the U.S. 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 U.S. 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. In March and April 2016, Shire received Notices of Allegation (“NOA”) from Apotex Inc. (“ Apotex ”) informing Shire that Apotex filed an Abbreviated New Drug Submission (“ANDS”) with Health Canada seeking approval to market a generic version of VYVANSE in Canada. Within the requisite 45 days, Shire filed for an order of prohibition and, as a result, a 24-month stay of approval of the ANDS has been put into effect. On July 4, 2016, Apotex filed a Statement of Claim in Federal Court seeking a judicial declaration of invalidity and noninfringement of Shire's Canadian patent relating to VYVANSE. Shire is reviewing the Statement of Claim . On April 14, 2016, Shire prevailed in upholding its European patent for ELVANSE. Shire initially prevailed in an opposition to its patent lodged by Johnson 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 May 2010, Shire was notified that Zydus Pharmaceuticals USA, Inc. (“ Zydus ”) 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 U.S. District Court for the District of Delaware against Zydus and Cadila Healthcare Limited, doing business as Zydus Cadila . A Markman hearing took place on January 29, 2015 and a Markman ruling was issued on July 28, 2015. A trial took place between March 28, 2016 and April 1, 2016 and a decision is not expected before September 2016. In February 2012, Shire was notified that Osmotica Pharmaceutical Corporation (“ Osmotica ”) 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 U.S. District Court for the Northern District of Georgia against Osmotica . A Markman hearing took place on August 22, 2013 and a Markman ruling was issued on September 25, 2014. The court issued an Order on February 27, 2015 in which all dates in the scheduling order have been stayed. In March 2012, Shire was notified that Watson Laboratories Inc.—Florida 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 U.S. District Court for the Southern District of Florida against Watson Laboratories Inc.—Florida and Watson Pharmaceuticals, Inc., Watson Pharma , Inc. and Watson Laboratories, Inc. (collectively, “Watson”) were subsequently added as defendants. A trial took place in April 2013 and on May 9, 2013 the trial court issued a decision finding that the proposed generic product infringes the patent-in-suit and that the patent is not invalid. Watson appealed the trial court's ruling to the CAFC and a hearing took place on December 2, 2013. The ruling of the CAFC was issued on March 28, 2014 overruling the trial court on the interpretation of two claim terms and remanding the case for further proceedings. Shire petitioned the Supreme Court for a writ of certiorari which was granted on January 26, 2015. The Supreme Court also vacated the CAFC decision and remanded the case to the CAFC for further consideration in light of the Supreme Court's recent decision in Teva v. Sandoz. On June 3, 2015, the CAFC reaffirmed their previous decision to reverse the District Court's claims construction and remanded the case to the U.S. 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 April 2012, Shire was notified that Mylan 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 U.S. District Court for the Middle District of Florida against Mylan . A Markman hearing took place on December 22, 2014. A Markman ruling was issued on March 23, 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 U.S. 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 U.S. 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 U . S . 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 U.S. Attorney's Office for the Middle District of Florida, Tampa Division and the U.S. 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 D ERMAGRAFT , which Shire acquired in June 2011. Following the disposal of the D ERMAGRAFT business in January 2014, Shire retained certain legacy liabilities including any liability that may arise from this investigation. Over the last several years, Shire has been cooperating fully with these investigations. As part of its efforts to cooperate, Shire has engaged in discussions with the Department of Justice about a possible resolution. As part of those discussions, during the quarter, Shire has reached an agreement on a proposal for a civil settlement in the amount of $ 350 million plus interest, subject to negotiating a final settlement agreement and obtaining final approvals. As of June 30, 2016, an accrual has been recorded related to the settlement. Assuming the agreement is finalized, it will resolve the civil investigations conducted by the Department of Justice, including multiple U.S. Attorney's Offices and relevant federal and state agencies. The tentative settlement proposal would settle the federal government's claims under the federal False Claims Act and the D ERMAGRAFT Medicaid-related claims for states that opt into the settlement. Some states with D ERMAGRAFT Medicaid-related claims might elect to opt out of any final settlement, and those states' claims would remain unresolved. Material issues remain open and subject to further negotiation and approval by Shire, the Department of Justice and other relevant federal and state agencies before the tentative settlement can be finalized. 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 cooperated 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 on behalf of these patients to date, and moral damages associated with these claims. On May 6, 2016, the trial court judge ruled on the case and dismissed all the claims under the c lass a ction , which decision has been appealed . A final decision is expected within the next 18 months .

Share-based Compensation Plans

Share-based Compensation Plans	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Plans Disclosure	21 . Share-based compensation plans Total share-based compensation recorded by the Company during the three and six months ended June 30, 2016 and June 30, 2015 by line item is as follows: Three months ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Cost of sales 4.5 1.9 7.6 4.7 Research and development 13.6 9.1 25.2 17.6 Selling, general and administrative 14.4 10.9 23.6 13.3 Integration and acquisition costs 144.0 - 138.4 - Reorganization costs - 7.0 - 8.7 Total 176.5 28.9 194.8 44.3 Less tax (41.5) (7.9) (46.3) (12.0) 135.0 21.0 148.5 32.3 The table above includes $ 146.3 million of pre-tax expense during both the three and six months ended June 30, 2016, related to replacement and other awards held by Baxalta employees as further described below. Included in the $ 146.3 million was an integration-related expense of $138.4 million resulting from the acceleration of unrecognized expense associated with certain employee terminations. Share-based compensation plans that existed as of December 31, 2015 Prior to February 28, 2015 the Company granted stock-settled share appreciation rights (“SARs”) and performance share awards (“PSAs”) over ordinary shares and ADSs to Executive Directors and employees under the Shire Portfolio Share Plan (“PSP”) (Parts A and B). Since February 28, 2015 the Company has granted awards under the Shire Long Term Incentive Plan 2015 (“LTIP”). Under the LTIP the Company grants stock-settled SARs , restricted stock units (“RSUs”) and performance share units (“PSUs”) over ordinary shares and ADSs to Executive Directors and employees. These plans and the underlying share-based award grants pursuant to the plans as of December 31, 2015 are further discussed in the Shire 2015 Form 10-K. Replacement Awards Issued to Baxalta Employees In connection with the acquisition of Baxalta and pursuant to the m erger a greement associated with the acquisition , outstanding Baxalta equity awards held by Baxalta employees or employees of Baxter were cancelled and exchanged for Shire equity awards. The replacement Shire awards generally have the same terms and conditions (including vesting) as the former Baxalta awards for which they were exchanged. The value of the replacement s hare -based awards granted was designed to generally preserve the intrinsic value and the fair value of the award immediately prior to the acquisition. Total replacement awards issued to Baxalta and Baxter employees on June 3, 2016 pursuant to the merger agreement were 22.2 million options and 3.9 million RSUs. The following table presents additional information regarding the replacement options issued as of June (options and aggregate intrinsic values in thousands) Options* Weighted-average exercise price Weighted-average contractual term (in years) Aggregate intrinsic value Issued and outstanding 13,290 $ 43.12 7.69 $ 242,467 Vested and exercisable 5,691 $ 40.72 6.12 $ 117,453 (number of RSUs in thousands) RSUs* Weighted average grant date fair value** Issued and Outstanding 3,285 $ 49.55 * Number of awards are stated in terms of ordinary share equivalents ** Reflects the pro rata portion representing future compensation as of June 3, 2016 Following the acquisition, the Company records share-based compensation expense associated with the acquisition-date fair value of acquired Baxalta employees' replacement options and RSUs that is attributable to post-acquisition service requirements, as well as share-based compensation expense for post-acquisition service requirements associated with certain remaining unvested Baxter share-based awards held by the acquired Baxalta employees. The portions of the acquisition-date fair values of the awards that are attributable to post-combination service are recognized over the remaining service period of the awards. The weighted-average acquisition-date fair value and Black-Scholes assumptions related to replacement options issued to acquired Baxalta employees was as follows : As of June 3, 2016 Risk-free interest rate 1.20% Expected dividend yield 0.35% Expected life 3.9 years Volatility 29.1% Fair value per Option* $ 79.31 *Pro-rata portion of the fair value recognized as expense related to post combination service period Total unrecognized expense related to the replacement options issued to acquired Baxalta employees of $ 69.4 million is expected to be recognized over a weigh ted-average period of 1.5 years. Total unrecognized expense related to the replacement RSUs issued to acquired Baxalta employees of $ 96.8 million is expected to be recognized over a weighted-average period of 2.1 years.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 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. For the three and six months ended June 30, 2016, Shire recorded R&D costs arising from the licensing and collaboration arrangement of $ 1.2 million and $1.7 million, respectively (2015: $5.5 million and $5.9 million, respectively) , of which $ 0. 3 million was accrued and unpaid as of June 3 0 , 2016 (2015: $ 5.4 million ).

Agreements And Transactions

Agreements And Transactions	6 Months Ended
	Jun. 30, 2016
Agreements and Transactions [Abstract]
Agreements And Transactions [Text Block]	23 . Agreements and Transactions with Baxter In connection with the Baxalta's separation from Baxter on July 1, 2015 , Baxalta and Baxter entered into several separation-related agreements that provided a framework for Baxalta's relationship with Baxter after the separation. As a result of the acquisition of Baxalta, the Company became party to the separation-related agreements with Baxter. These agreements , among others, included a manufacturing and supply agreement , a transition services agreement , an international commercial operations agreement and tax matters agreement. Under the terms of the manufacturing and supply agreement, the Company manufacture s certain products and materials and sell s them to Baxter at an agreed-upon price reflecting the Company's cost plus a mark-up for certain products and materials. The Company reported revenues associated with the manufacturing and supply agreement with Baxter of approximately $16 million for both the three and six months ended June 30, 2016. Under the terms of the transition services agreement, the Company and Baxter provide various services to each other on an interim , transitional basis. The services provided by Baxter to the Company include certain finance, information technology, human resources, quality , supply chain and other administrative services and functions, and are generally provided on a cost-plus basis. The services generally extend for approximately 2 years following the July 1, 2015 separation except for certain information technology services that may extend for 3 years following the July 1, 2015 separation. The C ompany reported SG&A expenses of approximately $8 million associated with the transition services agreement with Baxter for both the three and six months ended June 30, 2016. For a certain portion of Baxalta's non U.S. ope rations, the legal transfer of net assets from Baxter had not occurred by the June 3, 2016 acquisition date due to the time required to transfer marketing authorizations and other regulatory requirements in each of these countries. Under the terms of the international commercial operations agreement with Baxter , the Company is responsible for the business activities conducted by Baxter on its behalf, and is subject to the risks and entitled to the benefits generated by these operations and assets. As a result, the related assets and liabilities and results of op erations are reported in the Company's consolidated financial statements following the acquisition of Baxalta. The Company reported n et sales related to these opera tions of $22 million for both the three and six months ended June 30, 2016. As of June 30 , 2016 , the assets and liabilities of these operations consisted of inventories of $26 million, which are reported in inventories on the consolidated balance sheet, other assets of $68 million, which are reported as prepaid expenses and other current assets, and liabilities of $4 million, which are reported in other current liabilities. T he majority of these operations are expected to be transferred to the Company by the end of 2016 . The t ax matters agreement governs Baxter and Baxalta 's and now the Company's respective rights, responsibilities and obligations after the distribution with respect to taxes for any tax period ending on or before the distribution date, as well as tax periods beginning before and ending after the distribution date. In addition, the tax matters agreement addresses the allocation of liability for taxes that were incurred as a result of restructuring activities undertaken to effectuate the distribution and provides for Baxalta to indemnify Baxter against any tax liabilities resulting from Baxalta's action or inaction that causes the merge r-related transactions to be taxable. Net t ax-related indemnification liabilities reported by the Company as of June 30, 2016 are further discussed in Note 19 , Commitments and Contingencies , of these Unaudited Consolidated Financial S tatements . As of June 30, 2016, the Company had amounts due from or to Baxter of $278 million reported in prepaid expenses and other current assets, $34 million reported in other noncurrent assets, $138 million reported in other current liabilities and $95 million reported in other noncurrent liabilities. These balance s included the net tax-related indemnification liabilities , as further discussed above .

Subsquent Events

Subsquent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	24 . Subsequent Event s On June 14, 2016, Shire announced it agreed to license global rights , subject to regulatory approvals, to all indications for SHP647 (formerly PF-00547659) from Pfizer Inc. SHP647 is an investigational biologic being evaluated for the treatment of moderate-to-severe i nflammatory bowel disease. Regulatory approval w as received and the transaction closed on July 1, 2016. Under the terms of the agreement, Pfizer received an upfront payment of $ 90 million and is eligible to receive milestone payments based on clin ical, regulatory and commercial milestones and royalties based on net sales if the product is approved .

Guarantor Financial Information

Guarantor Financial Information	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	25 . Guarantor Financial Information On June 3, 2016, Shire plc ( for purposes of this section, the “Parent Guarantor”) provided full and unconditional, joint and several guarantees of the floating rate senior notes due 2018, 2.0% senior notes due 2018, 2.875% senior notes due 2020, 3.6% senior notes due 2022, 4.0% senior notes due 2025, and 5.25% senior notes due 2045 (collectively, “Senior Notes”), of Baxalta , Inc . ( for purposes of this section, the “Issuer”), a 100% owned subsidiary of the Company. There were no Shire plc guarantees in respect of the Senior Notes in effect prior to the acquisition date. The following financial information presents the related unaudited Condensed Consolidating Statements of Income for the three and six months ended June 30, 2016 and 2015, the unaudited Condensed Consolidating Statements of Comprehensive Income for the three and six months ended June 30, 2016 and 2015, the U naudited Condensed Consolidating Balance Sheets as of June 30, 2016 and December 31, 2015, and the U naudited Condensed Consolidating Statements of Cash Flows for the six months ended June 30, 2016 and 2015. Condensed consolidating financial information for the Parent Guarantor and Issuer, on a stand-alone basis, is presented using the equity method of accounting for subsidiaries, in accordance with SEC Regulation S-X Rule 3-10 “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.” Condensed Consolidating Balance Sheet (As of June 30, 2016) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ - $ 53.4 $ 640.0 $ - $ 693.4 Restricted cash - - 20.0 - 20.0 Accounts receivable, net - - 2,432.0 (19.6) 2,412.4 Inventories - - 5,798.7 - 5,798.7 Prepaid expenses and other current assets 1.8 7.8 724.0 - 733.6 Intercompany receivables - 631.9 5,286.9 (5,918.8) - Total current assets 1.8 693.1 14,901.6 (5,938.4) 9,658.1 Non-current assets: Investments 36,404.6 36,234.8 12,545.5 (85,010.9) 174.0 Property, plant and equipment, net - 18.5 6,577.8 - 6,596.3 Goodwill - - 12,962.4 - 12,962.4 Intangible assets, net - - 40,890.3 - 40,890.3 Other non-current assets 4.6 368.4 275.4 (209.0) 439.4 Total assets $ 36,411.0 $ 37,314.8 $ 88,153.0 $ (91,158.3) $ 70,720.5 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 66.0 $ 131.5 $ 3,550.5 $ (19.9) $ 3,728.1 Short term borrowings 905.0 - 1,810.2 - 2,715.2 Intercompany payables 5,270.5 16.1 631.9 (5,918.5) - Other current liabilities (0.1) 28.7 382.9 - 411.5 Total current liabilities 6,241.4 176.3 6,375.5 (5,938.4) 6,854.8 Non-current liabilities: Long term borrowings - 5,114.7 16,197.4 - 21,312.1 Deferred tax liability - - 10,252.8 (199.0) 10,053.8 Other non-current liabilities 406.6 79.5 2,260.7 (10.0) 2,736.8 Total liabilities 6,648.0 5,370.5 35,086.4 (6,147.4) 40,957.5 Total equity 29,763.0 31,944.3 53,066.6 (85,010.9) 29,763.0 Total liabilities and equity $ 36,411.0 $ 37,314.8 $ 88,153.0 $ (91,158.3) $ 70,720.5 Condensed Consolidating Balance Sheet (As of December 31, 2015) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ - $ - $ 135.5 $ - $ 135.5 Restricted cash - - 86.0 - 86.0 Accounts receivable, net - - 1,201.2 - 1,201.2 Inventories - - 635.4 - 635.4 Prepaid expenses and other current assets (6.5) - 203.9 - 197.4 Intercompany receivables - - 3,145.3 (3,145.3) - Total current assets (6.5) - 5,407.3 (3,145.3) 2,255.5 Non-current assets: Investments 14,477.2 - 50.8 (14,477.2) 50.8 Property, plant and equipment, net - - 828.1 - 828.1 Goodwill - - 4,147.8 - 4,147.8 Intangible assets, net - - 9,173.3 - 9,173.3 Other non-current assets 13.7 - 140.6 - 154.3 Total assets $ 14,484.4 $ - $ 19,747.9 $ (17,622.5) $ 16,609.8 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 10.0 $ - $ 2,040.6 $ - $ 2,050.6 Short term borrowings 1,500.0 - 11.5 - 1,511.5 Intercompany payables 3,145.3 - - (3,145.3) - Other current liabilities - - 144.0 - 144.0 Total current liabilities 4,655.3 - 2,196.1 (3,145.3) 3,706.1 Non-current liabilities: Long term borrowings - - 69.9 - 69.9 Deferred tax liability - - 2,205.9 - 2,205.9 Other non-current liabilities - - 798.8 - 798.8 Total liabilities 4,655.3 - 5,270.7 (3,145.3) 6,780.7 Total equity 9,829.1 - 14,477.2 (14,477.2) 9,829.1 Total liabilities and equity $ 14,484.4 $ - $ 19,747.9 $ (17,622.5) $ 16,609.8 Condensed Consolidating Statements of Operations (for the 3 months ended June 30, 2016) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 2,322.1 $ - $ 2,322.1 Royalties & other revenues - - 107.0 - 107.0 Total revenues - - 2,429.1 - 2,429.1 Costs and expenses: Cost of sales - 5.6 772.5 - 778.1 Research and development - 1.0 293.8 - 294.8 Selling, general and administrative 23.4 97.2 559.3 (4.6) 675.3 Integration and acquisition costs - 114.9 248.1 - 363.0 Amortization of acquired intangible assets - - 213.0 - 213.0 Other operating expenses - - 8.7 - 8.7 Total operating expenses 23.4 218.7 2,095.4 (4.6) 2,332.9 Operating income (loss) from continuing operations (23.4) (218.7) 333.7 4.6 96.2 Interest income/(expense), net (22.6) (5.7) (57.3) - (85.6) Other income/(expense), net 1.2 7.7 (2.9) - 6.0 Total other income/(expense), net (21.4) 2.0 (60.2) - (79.6) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (44.8) (216.7) 273.5 4.6 16.6 Income tax benefit 0.9 58.8 11.2 - 70.9 Equity in income/(losses) of equity method investees, net of taxes (118.2) (131.5) (0.9) 249.7 (0.9) Income/(loss) from continuing operations, net of taxes (162.1) (289.4) 283.8 254.3 86.6 Loss from discontinued operations, net of taxes 1 - - (248.7) - (248.7) Net income/(loss) (162.1) (289.4) 35.1 254.3 (162.1) Comprehensive income/(loss) $ (388.5) $ (291.2) $ (189.5) $ 480.7 $ (388.5) Condensed Consolidating Statements of Operations (for the 6 months ended June 30, 2016) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 3,949.4 $ - $ 3,949.4 Royalties & other revenues - - 189.0 - 189.0 Total revenues - - 4,138.4 - 4,138.4 Costs and expenses: Cost of product sales - 5.6 1,021.1 - 1,026.7 Research and development - 1.0 510.9 - 511.9 Selling, general and administrative 35.8 97.2 1,017.2 - 1,150.2 Integration and acquisition costs - 114.9 339.2 - 454.1 Amortization of acquired intangible assets - - 347.6 - 347.6 Other operating expenses - - 7.8 - 7.8 Total operating expenses 35.8 218.7 3,243.8 - 3,498.3 Operating income (loss) from continuing operations (35.8) (218.7) 894.6 - 640.1 Interest income/(expense), net (44.5) (5.7) (79.1) - (129.3) Other (expense)/income, net 0.9 7.7 (11.1) - (2.5) Total other income/(expense), net (43.6) 2.0 (90.2) - (131.8) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (79.4) (216.7) 804.4 - 508.3 Income tax benefit/(charge) 1.9 58.8 (71.9) - (11.2) Equity in income/(losses) of equity method investees, net of taxes 334.4 (131.5) (1.0) (202.9) (1.0) Income/(loss) from continuing operations, net of taxes 256.9 (289.4) 731.5 (202.9) 496.1 Loss from discontinued operations, net of taxes 1 - - (239.2) - (239.2) Net income/(loss) 256.9 (289.4) 492.3 (202.9) 256.9 Comprehensive (loss)/income $ 54.9 $ (291.2) $ 292.1 $ (0.9) $ 54.9 Condensed Consolidating Statements of Operations (for the 3 months ended June 30, 2015) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 1,476.2 $ - $ 1,476.2 Royalties & other revenues - - 81.4 - 81.4 Total revenues - - 1,557.6 - 1,557.6 Costs and expenses: Cost of product sales - - 228.0 - 228.0 Research and development - - 775.9 - 775.9 Selling, general and administrative 7.4 - 488.2 0.4 496.0 Integration and acquisition costs - - (212.4) - (212.4) Amortization of acquired intangible assets - - 131.3 - 131.3 Other operating expenses - - 6.2 - 6.2 Total operating expenses 7.4 - 1,417.2 0.4 1,425.0 Operating income (loss) from continuing operations (7.4) - 140.4 (0.4) 132.6 Interest income/(expense), net (16.4) - 5.7 - (10.7) Other expense, net (0.2) - (1.8) - (2.0) Total other income/(expense), net (16.6) - 3.9 - (12.7) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (24.0) - 144.3 (0.4) 119.9 Income tax benefit/(charge) 0.8 - 43.3 - 44.1 Equity in income/(losses) of equity method investees, net of taxes 182.8 - 0.1 (182.8) 0.1 Income/(loss) from continuing operations, net of taxes 159.6 - 187.7 (183.2) 164.1 Loss from discontinued operations, net of taxes 1 - - (4.5) - (4.5) Net income/(loss) 159.6 - 183.2 (183.2) 159.6 Comprehensive income/(loss) $ 208.4 $ - $ 232.0 $ (232.0) $ 208.4 Condensed Consolidating Statements of Operations (for the 6 months ended June 30, 2015) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 2,899.4 $ - $ 2,899.4 Royalties & other revenues - - 146.6 - 146.6 Total revenues - - 3,046.0 - 3,046.0 Costs and expenses: Cost of product sales - - 455.8 - 455.8 Research and development - - 969.6 - 969.6 Selling, general and administrative 12.8 - 900.8 0.7 914.3 Integration and acquisition costs - - (136.7) - (136.7) Amortization of acquired intangible assets - - 219.6 - 219.6 Other operating expenses - - 16.2 - 16.2 Total operating expenses 12.8 - 2,425.3 0.7 2,438.8 Operating income/(loss) from continuing operations (12.8) - 620.7 (0.7) 607.2 Interest income/(expense), net (30.4) - 12.1 - (18.3) Other income/(expense), net 1.2 - 1.1 - 2.3 Total other (expense)/income, net (29.2) - 13.2 - (16.0) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (42.0) - 633.9 (0.7) 591.2 Income tax benefit/(charge) 1.3 - (14.6) - (13.3) Equity in income/(losses) of equity method investees, net of taxes 610.7 - (0.9) (610.7) (0.9) Income/(loss) from continuing operations, net of taxes 570.0 - 618.4 (611.4) 577.0 Loss from discontinued operations, net of taxes 1 - - (7.0) - (7.0) Net income/(loss) 570.0 - 611.4 (611.4) 570.0 Comprehensive (loss)/income $ 490.0 $ - $ 531.4 $ (531.4) $ 490.0 Condensed Consolidating Statement of Cash Flows (For the six months ended June 30, 2016) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (13.8) $ 1.6 $ 992.6 $ - $ 980.4 CASH FLOWS FROM INVESTING ACTIVITIES: Transactions with subsidiaries (1,900.0) - (21,625.6) 23,525.6 - Movements in restricted cash - - 67.2 - 67.2 Purchases of businesses, net of cash acquired (19,049.0) - 1,572.8 - (17,476.2) Purchases of non-current investments and PP&E - (1.9) (177.2) - (179.1) Proceeds from sale of product rights - - 5.6 - 5.6 Other, net - - (2.3) - (2.3) Net cash provided by (used in) investing activities (20,949.0) (1.9) (20,159.5) 23,525.6 (17,584.8) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 905.0 - 17,990.0 - 18,895.0 Repayment of revolving line of credit, long term and short term borrowings (1,500.0) - (0.3) - (1,500.3) Proceeds from intercompany borrowings 21,572.2 53.4 1,900.0 (23,525.6) - Payment of dividend (14.4) - (115.8) - (130.2) Excess tax benefit associated with exercise of stock options - - 5.1 - 5.1 Debt issuance costs - - (112.3) - (112.3) Contingent consideration payments - - (4.2) - (4.2) Other, net - 0.3 10.8 - 11.1 Net cash provided by (used in) financing activities 20,962.8 53.7 19,673.3 (23,525.6) 17,164.2 Effect of foreign exchange rate changes on cash and cash equivalents - - (1.9) - (1.9) Net increase in cash and cash equivalents - 53.4 504.5 - 557.9 Cash and cash equivalents at beginning of period - - 135.5 - 135.5 Cash and cash equivalents at end of period $ - $ 53.4 $ 640.0 $ - $ 693.4 Condensed Consolidating Statement of Cash Flows (For the six months ended June 30, 2015) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (85.0) $ - $ 1,098.9 $ - $ 1,013.9 CASH FLOWS FROM INVESTING ACTIVITIES: Net transactions with subsidiaries (3,570.0) - (2,345.1) 5,915.1 - Movements in restricted cash - - (19.5) - (19.5) Purchases of businesses, net of cash acquired - - (5,249.2) - (5,249.2) Purchases of non-current investments and PP&E - - (44.7) - (44.7) Proceeds from short-term investments - - 67.0 - 67.0 Proceeds from sale of product rights - - 8.8 - 8.8 Proceeds from disposal of non-current investments - - 4.4 - 4.4 Other, net - - (0.9) - (0.9) Net cash provided by (used in) investing activities (3,570.0) - (7,579.2) 5,915.1 (5,234.1) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 2,850.0 - 75.6 - 2,925.6 Repayment of revolving line of credit, long term and short term borrowings (1,530.0) - (0.9) - (1,530.9) Net proceeds from/(to) intercompany borrowings 2,345.1 - 3,570.0 (5,915.1) - Payment of dividend (5.6) - (104.6) - (110.2) Excess tax benefit associated with exercise of stock options - - 27.0 - 27.0 Contingent consideration payments - - (4.5) - (4.5) Other, net (4.5) - - - (4.5) Net cash provided by (used in) financing activities 3,655.0 - 3,562.6 (5,915.1) 1,302.5 Effect of foreign exchange rate changes on cash and cash equivalents - - (0.7) - (0.7) Net decrease in cash and cash equivalents - - (2,918.4) - (2,918.4) Cash and cash equivalents at beginning of period - - 2,982.4 - 2,982.4 Cash and cash equivalents at end of period $ - $ - $ 64.0 $ - $ 64.0

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Basis of preparation	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 (“U . S . GAAP”). The balance sheet as of December 31, 201 5 was derived from audited financial statements but does not include all disclosures required by U . S . 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 , as filed with the SEC on February 23, 2016 (the “Shire 2015 Form 10-K”) . Certain information and footnote disclosures normally included in financial statements prepared in accordance with U . S . 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 necess arily indicative of results to be expected for the full year . On June 3, 2016, the Company completed its acquisition of Baxalta Incorporated (“ Baxalta ”) for $32.4 billion, representing the preliminary fair value of purchas e consideration. The Company's Unaudited Consolidated Financial Statements include the results of Baxalta from the date of acquisition . For further details regarding the acquisition, please refer to Note 2 , Business Combinations of these U naudited C onsolidated F inancial S tatements . During the second quarter of 2016, due to the Baxalta acquisition, the Company concluded that it was appropriate to reclassify the Amortization of Acquired Intangibles from the Selling, General and Administrative line item on the Unaudited Consolidated Income Statements. Accordingly, the Company reclassified the Amortization of Acquired Intangibles from the Selling, General and Administrative line item in comparative periods to conform to the current classification .
Use of estimates in consolidated financial statements	Use of Estimates The preparation of financial statements, in conformity with U . S . 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, measurement of pension and other post-employment plan obligations and net periodic benefit cost, contingent consideration receivable from product divestments and contingent consideration payable in respect of business combinations and asset purchases and valuation of other assets and liabilities acquired in business combinations . 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.
Financial instruments - derivatives	A ccounting Policy Updates The Company's significant accounting policies are discussed in Shire's most recent Annual Report on Form 10-K. The following significant accounting policies have been updated as a result of the Baxalta acquisition . Financial instruments - derivatives The Company uses derivative financial instruments to manage its exposure to foreign exchange risk to earnings relating to forecasted transactions and recognized assets and liabilities. The Company has assumed derivatives related to the Baxalta acquisition and has elected to apply hedge accounting for certain derivatives. For each derivative instrument that is designated and effective as a cash flow hedge, the gain or loss on the derivative is recorded in Accumulated other comprehensive income (“ AOCI ”) and then recognized in earnings consistent with the underlying hedged item. Cash flow hedges are classified in revenues , cost of sales, interest expense, and primarily relate to forecasted third-party sales denominated in foreign currencies, forecasted intercompany sales denominated in foreign currencies, an d anticipated issuances of debt . For each derivative instrument that is designated and effective as a fair value hedge, the gain or loss on the derivative is recognized immediately to earnings, and offsets the loss or gain on the underlying hedged item. Fair value hedges are classified in interest income and interest expense, as they hedge the interest rate risk associated with certain of the Company's fixed-rate debt. The Company uses forward contracts to hedge earnings from the effects of foreign exchange relating to certain of the Company's intercompany and third-party receivables and payables denominated in a foreign currency. These derivative instruments generally are not formally designated as hedges and the terms of these instruments generally do not exceed three month s . The fair values of these instruments are included on the balance sheet in current assets / liabilities, with changes in the fair value recognized in the consolidated statements of income. The cash flows relating to these instruments are presented within net cash provided by operating activities in the consolidated statement of cash flows, unless the derivative instruments are economically hedging specific investing or financing activities.
New accounting pronouncements	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 below , 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 with prospective application . 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. In May 2016, the FASB issued additional guidance on assessing collectability, presentation of sales taxes, noncash consideration, and completed contracts and contract modifications. In May 2016, the FASB rescinded several SEC Staff Announcements that are codified in ASC 605, including, among other items, guidance relating to accounting for shipping and handling fees and freight services. 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. Inventory In July 2015, the FASB issued new guidance which requires an entity to measure inventory at the lower of cost and net realizable value. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This standard is effective for the Company as of January 1, 2017. Early adoption is permitted. The Company is currently evaluating the potential impact on its financial position and results of operations of adopting this guidance. Financial Instrument Accounting In January 2016, the FASB issued an update which involves several aspects of the accounting for the recognition and measurement of certain equity investments. This update impacts all non-equity method investments and has consequences on related deferred income tax valuation allowances and certain financial statement related presentation and disclosure requirements. These amendments are effective for the Company as of January 1, 2018. Early adoption is not 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. 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 . The standard requires lessees to recognize right-of-use assets and lease li abilities on the balance sheet using a modified retrospective approach at the beginning of the earliest comparative period in the financial statements. 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)	6 Months Ended
	Jun. 30, 2016
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	Estimated Fair Value (in millions) Cash paid to shareholders $12,366.7 Fair value of stock issued to shareholders 19,353.20 Fair value of partially vested stock options and RSUs assumed 497.6 Contingent consideration payable 166 ___________________ Total Purchase Consideration $ 32,383.5 ___________________
Baxalta
Business Acquisition [Line Items]
Schedule of Purchase Price Allocation	Preliminary fair value $’M ASSETS Current assets: Cash and cash equivalents 583.2 Accounts receivable, net 1,382.8 Inventories 5,341.1 Other current assets 362.2 _______________ Total current assets 7,669.3 Non-current assets: Property, plant and equipment, net 5,687.7 Investments 128.2 Goodwill 6,106.4 Other intangible assets, net - Currently marketed products 24,550.0 - In-Process Research and Development (“IPR&D”) 2,940.0 - Contract based arrangements 72.2 Other non-current assets 103.3 _______________ Total assets 47,257.1 _______________ LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses 1,509.5 Other current liabilities 15.4 Non-current liabilities: Assumed indebtedness 5,424.9 Deferred tax liability 6,831.7 Other non-current liabilities 1,092.1 _______________ Total liabilities 14,873.6 _______________ Preliminary fair value of identifiable assets acquired and liabilities assumed 32,383.5 _______________ Consideration Preliminary fair value of purchase consideration 32,383.5
Business Acquisition, Pro Forma Information	3 Months Ended June 30, 6 Months Ended June 30, 2016 2015 2016 2015 $’M $’M $’M $’M _______________ _______________ _______________ _______________ Revenues 3,484.1 2,986.6 6,741.4 5,836.0 Net income/(loss) from continuing operations 716.0 (401.4) 1,177.3 (976.1) _______________ _______________ _______________ _______________ Per share amounts: Net income/(loss) from continuing operations per share - basic $ 0.81 $ (0.45) $ 1.33 $ (1.09) Net income/(loss) from continuing operations per share - diluted $ 0.81 $ (0.45) $ 1.32 $ (1.09) _______________ _______________ _______________ _______________
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 2,727.9 Other intangible assets, net - Currently marketed products 135.0 - IPR&D 4,100.0 - Contract based royalty arrangements 425.0 Other non-current assets 28.3 _______________ Total assets 7,704.8 _______________ LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses 30.0 Other current liabilities 1.7 Non-current liabilities: Deferred tax liability 1,341.7 Other non-current liabilities 1.4 _______________ Total liabilities 1,374.8 _______________ Preliminary fair value of identifiable assets acquired and liabilities assumed 6,330.0 _______________ Consideration Preliminary fair value of purchase consideration 6,330.0
Business Acquisition, Pro Forma Information	3 Months Ended June 30, 6 Months Ended June 30, 2016 2015 2016 2015 $’M $’M $’M $’M _______________ _______________ _______________ _______________ Revenues 2,429.1 1,584.0 4,144.3 3,092.8 Net income/(loss) from continuing operations 88.6 128.3 490.2 406.3 _______________ _______________ _______________ _______________ Per share amounts: Net income/(loss) from continuing operations per share - basic $ 0.13 $ 0.22 $ 0.77 $ 0.69 Net income/(loss) from continuing operations per share - diluted $ 0.13 $ 0.22 $ 0.77 $ 0.69 _______________ _______________ _______________ _______________
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 _______________
Business Acquisition, Pro Forma Information	3 Months Ended to June 30, 6 Months Ended to June 30, 2015 2015 $’M $’M _______________ _______________ Revenues 1,557.6 3,075.9 Net income from continuing operations 167.8 526.6 _______________ _______________ Per share amounts: Net income from continuing operations per share - basic $0.28 $0.96 Net income from continuing operations per share - diluted $0.28 $0.95 _______________ _______________

Accounts Receivable, Net (Table

Accounts Receivable, Net (Tables)	6 Months Ended
	Jun. 30, 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 269.6 186.6 Payments/credits related to sales (201.0) (181.6) _____________ _____________ As of June 30, 124.4 53.5 _____________ _____________

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory	June 30, December 31, 2016 2015 $’M $’M ____________ ____________ Finished goods 1,389.2 184.9 Work-in-progress 3,409.0 302.0 Raw materials 1,000.5 148.5 ____________ ____________ 5,798.7 635.4 ____________ ____________

Property, Plant and Equipment38

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	June 30, December 31, 2016 2015 $’M $’M ____________ ____________ Land 356.2 96.7 Buildings and leasehold improvements 1,965.8 606.4 Machinery, equipment and other 2,158.3 827.4 Assets under construction 2,963.2 93.7 ____________ ____________ 7,443.5 1,624.2 Less: Accumulated depreciation (847.2) (796.1) ____________ ____________ 6,596.3 828.1 ____________ ____________

Other Intangible Assets, Net (T

Other Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Other Intangible Assets	(in millions) IP rights for marketed products Other intangible assets IPR&D Unamortized Total June 30, 2016 Gross acquired intangible assets 33,929.5 872.2 8,371.8 43,173.5 Accumulated amortization (2,142.8) (140.4) - (2,283.2) Other intangible assets, net 31,786.7 731.8 8,371.8 40,890.3 December 31, 2015 Gross acquired intangible assets 9,371.9 375.0 1,362.0 11,108.9 Accumulated amortization (1,852.1) (83.5) - (1,935.6) Other intangible assets, net 7,519.8 291.5 1,362.0 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 32,222.2 5,167.8 Amortization charged (347.6) (219.6) Impairment charges (8.9) (523.3) Foreign currency translation (148.7) (48.9) ________________ ________________ As of June 30, 40,890.3 9,310.4 ________________ ________________

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 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 8,834.3 1,720.6 Foreign currency translation (19.7) (22.2) ____________ ____________ As of June 30, 12,962.4 4,173.3 ____________ ____________

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2016 $'M $'M $'M $'M ____________ ___________ ___________ ___________ Financial assets: Marketable equity securities 54.4 54.4 - - Marketable debt securities 16.8 3.7 13.1 Contingent consideration receivable 17.5 - - 17.5 Derivative instruments 65.3 - 65.3 - Financial liabilities: Derivative instruments 40.7 - 40.7 - Contingent consideration payable 993.8 - - 993.8 ____________ ___________ ___________ ___________ 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 2.1 8.6 Other 1.6 (7.8) Balance at June 30, 17.5 16.7
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 562.5 92.1 Change in fair value included in earnings (45.0) (255.7) Other 0.4 (1.6) Balance at June 30, 993.8 464.7
Fair Value Inputs, Assets Quantitative Information Table	Financial assets: Fair Value at the Measurement Date At June 30, 2016 Fair value Valuation technique Significant unobservable inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration receivable 17.5 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 $25 million • 8.4% ____________ ____________ ____________ ____________
Fair Value Inputs, Liabilities Quantitative Information Table	Financial liabilities: Fair Value at the Measurement Date At June 30, 2016 Fair value Valuation technique Significant unobservable inputs Range $'M ____________ ___________ ___________ ___________ Contingent consideration payable 993.8 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 • 1 to 90% • 1.5 to 12.4% • 2016 to 2036 • $1.4 to $3.8 million ____________ ____________ ____________ ____________
Schedule of Fair Value, Assets and Liabilities Not Measured at Fair Value on Recurring Basis	June 30, 2016 December 31, 2015 Carrying Carrying amount Fair value amount Fair value $’M $’M $’M $’M ____________ ____________ ____________ ___________ Financial liabilities: Senior notes 5,114.0 5,114.0 - - Capital lease obligation 348.9 348.9 13.4 13.4 ____________ ____________ ____________ ___________

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2016
Derivative Instrument Detail [Abstract]
Schedule of Foreign Exchange Contracts and Other Derivative Instruments, Statement of Financial Position	Gain (loss) recognized in OCI Income Statement location Gain (loss) reclassified from AOCI into income Six months to June 30, 2016 2015 2016 2015 (in millions) (in millions) Designated Derivative Instruments Cash flow hedges Foreign exchange contracts (3.4) - Cost of sales - - Location of gain (loss) in Income Statement Gain (loss) recognized in income Six months to June 30, 2016 2015 (in millions) Fair value hedges Interest rate contracts Interest expense 22.1 - Undesignated Derivative Instruments Foreign exchange contracts Other income, net (28.8) 21.3 Interest rate swap contracts Interest expense (4.6) -
Classification and Estimated Fair Value Amounts of Derivative Instruments	Derivatives in asset positions Derivatives in liability positions (in millions) Balance Sheet location Fair Value Balance Sheet location Fair Value Designated Derivative Instruments Foreign exchange contracts Other current assets 1.8 Accrued liabilities 9.3 Interest rate contracts Other non-current assets 55.6 - 57.4 9.3 Undesignated Derivative Instruments Foreign exchange forward contracts Prepaid and other current assets 7.9 Accrued liabilities 26.8 Interest rate swap contracts Prepaid and other current assets - Accrued liabilities 4.6 65.3 40.7

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2016
Borrowings [Abstract]
Schedule of Borrowings	June 30, December 31, 2016 2015 $’M $’M _____________ _____________ Short term borrowings: Borrowings under the Revolving Credit Facilities Agreement 905.0 750.0 Borrowings under the November 2015 Facilities Agreement 1,788.3 - Borrowings under the January 2015 Facilities Agreement - 750.0 Other borrowings 16.6 11.5 Capital lease obligations (current portion) 5.3 _____________ _____________ 2,715.2 1,511.5 Long term borrowings: Senior notes 5,114.0 - Borrowings under the January 2016 Facilities Agreement 12,341.6 - Borrowings under the November 2015 Facilities Agreement 3,792.1 - Other borrowings 64.4 69.9 Capital lease obligations (long term portion) 343.6 - _____________ _____________ 24,370.9 1,581.4 _____________ _____________ (in millions, except for percentage information) Aggregate Principal Coupon Rate Effective interest rate in 2016 Carrying amount at June 30, 2016 Variable-rate notes due 2018 375.0 LIBOR plus 0.78% 1.43% 370.3 Fixed-rate notes due 2018 375.0 2.000% 2.2% 374.7 Fixed-rate notes due 2020 1,000.0 2.875% 3.0% 1,020.0 Fixed-rate notes due 2022 500.0 3.600% 3.7% 509.1 Fixed-rate notes due 2025 1,750.0 4.000% 4.2% 1,807.6 Fixed-rate notes due 2045 1,000.0 5.250% 5.6% 1,032.3 _______________ Total assumed Senior Notes 5,114.0
Debt maturities and future payments on capital lease obligations	$'M 2016 (remaining six months) 1,010.0 2017 2,231.0 2018 15,574.8 2019 44.2 2020 1,946.7 2021 18.5 Thereafter 3,621.3 Total obligations 24,446.5 Fair value hedges, unamortized bond premium and deferred financing costs (75.6) Total debt and capital lease obligations 24,370.9

Retirement and Other Benefit Pr

Retirement and Other Benefit Programs (Tables)	6 Months Ended
	Jun. 30, 2016
Retirement and Other Benefit Programs
Reconciliation Of Pension And Opeb Plan Obligations Assets And Funded Status	U.S. Pension International pension OPEB (in millions) Projected Benefit Obligation and Plan Assets Assumed Projected benefit obligation 441.6 503.8 23.5 Plan assets 218.0 140.5 - Funded status as of June 3, 2016 (223.6) (363.3) (23.5) Amounts Recognized in the Consolidated Balance Sheet Other current liabilities (0.2) (3.1) 0.0 Other non-current liabilities (223.4) (360.2) (23.5) Net liability recognized as of June 3, 2016 (223.6) (363.3) (23.5)
Information Relating to Individual Plans in Funded Status that have ABO in Excess of Plan Assets	June 3, 2016 $'M U.S. ABO 369.2 Fair value of plan assets 218.0 International ABO 364.9 Fair value of plan assets 118.2
Expected Net Pension and OPEB Plan Payments for Next 10 Years	U.S. Pension International pension OPEB $'M $'M $'M 2016 (after June 3, 2016) 0.9 7.3 - 2017 3.6 14.7 0.2 2018 5.4 14.6 0.3 2019 7.3 16.2 0.4 2020 9.3 16.7 0.5 2021 through 2025 75.6 104.8 3.5 Total expected benefit payments for next 10 years 102.1 174.3 4.9
Net Periodic Benefit Cost	3 and 6 Months Ended June 30, 2016 U.S. Pension International pension OPEB $'M $'M $'M Net periodic benefit cost Service cost 1.9 2.6 0.1 Interest cost 1.6 0.4 0.1 Expected return on plan assets (1.3) (0.5) - Net periodic benefit cost 2.2 2.5 0.2
Weighted Average Assumptions, Net Benefit Plan Obligations and Future Net Period Benefit Cost	U.S. Pension International pension OPEB Discount rate 4.1% 1.0% 4.2% Rate of compensation increase 3.8% 3.2% n/a Annual rate of increase in the per-capita cost n/a n/a 6.5% Rate decreased to n/a n/a 5.0% by the year ended n/a n/a 2022
Fair Value Of Pension Plan Assets And Liabilities	Basis of fair value measurement Balance at June 3, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) $'M $'M $'M $'M Assets Fixed income Cash equivalents 4.4 - 4.4 - Common/collective trust funds 53.4 - 53.4 - Equity Common/collective trust funds 149.5 - 149.5 - Hedge funds 10.7 - 10.7 - Fair value of pension plan assets 218.0 - 218.0 - Basis of fair value measurement (in millions) Balance at June 3, 2016 Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Assets Fixed income Cash and cash equivalents 9.7 9.7 - - Government agency issues 1.5 1.5 - - Corporate bonds 30.1 30.1 - - Mutual funds 40.5 40.5 - - Equity Common stock: Large cap 15.7 15.7 - - Mid cap 1.6 1.6 - - Total common stock 17.3 17.3 - - Mutual funds 21.5 21.5 - - Real estate funds 10.2 8.4 1.8 - Other holdings 9.7 0.1 9.6 - Fair value of pension plan assets 140.5 129.1 11.4 - Investment category Valuation methodology Cash and cash equivalents These largely consist of a short-term investment fund, U.S. dollars and foreign currency. The fair value of the short-term investment fund is based on the net asset value Government agency issues Values are based on quoted prices in an active market Corporate bonds Values are based on the valuation date in an active market Common stock Values are based on the closing prices on the valuation date in an active market on national and international stock exchanges Mutual funds Values are based on the net asset value of the units held in the respective fund which are obtained from national and international exchanges Common/collective trust funds and hedge funds Values are based on the net asset value of the units held at year end Real estate funds The value of these assets are either determined by the net asset value of the units held in the respective fund which are obtained from national and international exchanges or based on the net asset value of the underlying assets of the fund provided by the fund manager Other holdings The value of these assets vary by investment type and are primarily based on reputable pricing vendors that typically use pricing matrices or models
Funded Status Percentage Of Companys Pension Plans	United States International (in millions, except percentages) Qualified plans Nonqualified plans Funded plans Unfunded plans Total Fair value of plan assets 218.0 n/a 140.5 n/a 358.5 PBO 410.9 30.7 324.0 179.8 945.4 Funded status percentage 53% n/a 43% n/a 38%

Accumulated Other Comprehensi45

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Changes in Accumulated Other Comprehensive Income, Net of Tax	Foreign currency translation adjustment Pension and other employee benefits Unrealized holding loss on available-for-sale securities Hedging activities Pension and Other Postretirement Benefit Liability Adjustment Accumulated other comprehensive loss $'M $'M $'M $'M $'M $'M As of January 1, 2016 (182.1) (1.7) - - (183.8) Net current period other comprehensive loss (195.5) (4.7) (1.8) - (202.0) As of June 30, 2016 (377.6) - (6.4) (1.8) - (385.8) Foreign currency translation adjustment Pension and other employee benefits Unrealized holding (loss)/gain on available-for-sale securities Hedging activities Pension and Other Postretirement Benefit Liability Adjustment Accumulated other comprehensive loss $'M $'M $'M $'M $'M $'M As of January 1, 2015 (25.7) (5.8) - - (31.5) Net current period other comprehensive (loss)/income (83.3) 3.3 - - (80.0) As of June 30, 2015 (109.0) - (2.5) - - (111.5)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	3 Months Ended June 30, 6 Months Ended June 30, (in millions) 2016 2015 2016 2015 Income from continuing operations, net of taxes 86.6 164.1 496.1 577.0 Gain/(loss) from discontinued operations 1 (248.7) (4.5) (239.2) (7.0) _________________ _________________ _________________ _________________ Numerator for basic and diluted earnings per share (162.1) 159.6 256.9 570.0 _________________ _________________ _________________ _________________
Schedule of Weighted Average Number of Shares	Weighted average number of shares: (in millions) Basic 682.8 590.5 637.3 589.8 Effect of dilutive shares: Share-based awards to employees - 2.7 2.8 3.2 _________________ _________________ _________________ _________________ Diluted 682.8 593.2 640.1 593.0 _________________ _________________ _________________ _________________
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	3 Months Ended June 30, 6 Months Ended June 30, 2016 2015 2016 2015 No. of shares No. of shares No. of shares No. of shares Millions Millions Millions Millions _________________ _________________ _________________ _________________ Share-based awards to employees 8.3 1.0 4.4 3.2 _________________ _________________ _________________ _________________

Segmental Reporting (Tables)

Segmental Reporting (Tables)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Revenue from Major Products	6 Months Ended June 30, (in millions) 2016 2015 Product sales: CINRYZE $ 337.2 $ 286.9 ELAPRASE 277.6 271.5 FIRAZYR 265.0 196.6 REPLAGAL 221.6 214.4 VPRIV 171.6 171.1 KALBITOR 28.1 - Genetic Diseases total 1,301.1 1,140.5 VYVANSE 1,026.9 841.6 ADDERALL XR 200.6 181.7 Other Neuroscience 57.8 52.4 Neuroscience total 1,285.3 1,075.7 LIALDA/MEZAVANT 361.7 306.4 PENTASA 136.9 145.0 GATTEX/REVESTIVE 96.2 52.2 NATPARA 35.5 5.9 Other Internal Medicine 173.3 173.7 Internal Medicine total 803.6 683.2 HEMOPHILIA 275.6 - INHIBITOR THERAPIES 74.0 - Hematology total 349.6 - IMMUNOGLOBULIN THERAPIES 138.2 - BIO THERAPEUTICS 51.3 - Immunology total 189.5 - Oncology total 20.3 - Total product sales 3,949.4 2,899.4 Royalties and Other Revenues: SENSIPAR Royalties 73.5 45.2 3TC and ZEFFIX Royalties 27.1 18.0 FOSRENOL Royalties 20.6 19.2 ADDERALL XR Royalties 11.0 15.1 Other Royalties and Revenues 56.8 49.1 Total Royalties and Other Revenues 189.0 146.6 Total Revenues $ 4,138.4 $ 3,046.0

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments under Operating Leases	Operating leases $’M _____________ 2016 (remaining six months) 1 66.3 2017 1 102.3 2018 1 83.3 2019 1 71.3 2020 1 70.5 2021 67.7 Thereafter 1 299.2 111 _____________ 760.6 _____________

Share-based Compensation Plans

Share-based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Expense	Three months ended June 30, Six months ended June 30, (in millions) 2016 2015 2016 2015 Cost of sales 4.5 1.9 7.6 4.7 Research and development 13.6 9.1 25.2 17.6 Selling, general and administrative 14.4 10.9 23.6 13.3 Integration and acquisition costs 144.0 - 138.4 - Reorganization costs - 7.0 - 8.7 Total 176.5 28.9 194.8 44.3 Less tax (41.5) (7.9) (46.3) (12.0) 135.0 21.0 148.5 32.3
Schedule of Replacement Awards	(options and aggregate intrinsic values in thousands) Options* Weighted-average exercise price Weighted-average contractual term (in years) Aggregate intrinsic value Issued and outstanding 13,290 $ 43.12 7.69 $ 242,467 Vested and exercisable 5,691 $ 40.72 6.12 $ 117,453 (number of RSUs in thousands) RSUs* Weighted average grant date fair value** Issued and Outstanding 3,285 $ 49.55
Schedule of Share-based Payment Award, Valuation Assumptions	As of June 3, 2016 Risk-free interest rate 1.20% Expected dividend yield 0.35% Expected life 3.9 years Volatility 29.1% Fair value per Option* $ 79.31 *Pro-rata portion of the fair value recognized as expense related to post combination service period

Guarantor Financial Informati50

Guarantor Financial Information (Tables)	6 Months Ended
	Jun. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Income Statement [Table Text Block]	Condensed Consolidating Statements of Operations (for the 3 months ended June 30, 2016) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 2,322.1 $ - $ 2,322.1 Royalties & other revenues - - 107.0 - 107.0 Total revenues - - 2,429.1 - 2,429.1 Costs and expenses: Cost of sales - 5.6 772.5 - 778.1 Research and development - 1.0 293.8 - 294.8 Selling, general and administrative 23.4 97.2 559.3 (4.6) 675.3 Integration and acquisition costs - 114.9 248.1 - 363.0 Amortization of acquired intangible assets - - 213.0 - 213.0 Other operating expenses - - 8.7 - 8.7 Total operating expenses 23.4 218.7 2,095.4 (4.6) 2,332.9 Operating income (loss) from continuing operations (23.4) (218.7) 333.7 4.6 96.2 Interest income/(expense), net (22.6) (5.7) (57.3) - (85.6) Other income/(expense), net 1.2 7.7 (2.9) - 6.0 Total other income/(expense), net (21.4) 2.0 (60.2) - (79.6) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (44.8) (216.7) 273.5 4.6 16.6 Income tax benefit 0.9 58.8 11.2 - 70.9 Equity in income/(losses) of equity method investees, net of taxes (118.2) (131.5) (0.9) 249.7 (0.9) Income/(loss) from continuing operations, net of taxes (162.1) (289.4) 283.8 254.3 86.6 Loss from discontinued operations, net of taxes 1 - - (248.7) - (248.7) Net income/(loss) (162.1) (289.4) 35.1 254.3 (162.1) Comprehensive income/(loss) $ (388.5) $ (291.2) $ (189.5) $ 480.7 $ (388.5) Condensed Consolidating Statements of Operations (for the 6 months ended June 30, 2016) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 3,949.4 $ - $ 3,949.4 Royalties & other revenues - - 189.0 - 189.0 Total revenues - - 4,138.4 - 4,138.4 Costs and expenses: Cost of product sales - 5.6 1,021.1 - 1,026.7 Research and development - 1.0 510.9 - 511.9 Selling, general and administrative 35.8 97.2 1,017.2 - 1,150.2 Integration and acquisition costs - 114.9 339.2 - 454.1 Amortization of acquired intangible assets - - 347.6 - 347.6 Other operating expenses - - 7.8 - 7.8 Total operating expenses 35.8 218.7 3,243.8 - 3,498.3 Operating income (loss) from continuing operations (35.8) (218.7) 894.6 - 640.1 Interest income/(expense), net (44.5) (5.7) (79.1) - (129.3) Other (expense)/income, net 0.9 7.7 (11.1) - (2.5) Total other income/(expense), net (43.6) 2.0 (90.2) - (131.8) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (79.4) (216.7) 804.4 - 508.3 Income tax benefit/(charge) 1.9 58.8 (71.9) - (11.2) Equity in income/(losses) of equity method investees, net of taxes 334.4 (131.5) (1.0) (202.9) (1.0) Income/(loss) from continuing operations, net of taxes 256.9 (289.4) 731.5 (202.9) 496.1 Loss from discontinued operations, net of taxes 1 - - (239.2) - (239.2) Net income/(loss) 256.9 (289.4) 492.3 (202.9) 256.9 Comprehensive (loss)/income $ 54.9 $ (291.2) $ 292.1 $ (0.9) $ 54.9 Condensed Consolidating Statements of Operations (for the 3 months ended June 30, 2015) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 1,476.2 $ - $ 1,476.2 Royalties & other revenues - - 81.4 - 81.4 Total revenues - - 1,557.6 - 1,557.6 Costs and expenses: Cost of product sales - - 228.0 - 228.0 Research and development - - 775.9 - 775.9 Selling, general and administrative 7.4 - 488.2 0.4 496.0 Integration and acquisition costs - - (212.4) - (212.4) Amortization of acquired intangible assets - - 131.3 - 131.3 Other operating expenses - - 6.2 - 6.2 Total operating expenses 7.4 - 1,417.2 0.4 1,425.0 Operating income (loss) from continuing operations (7.4) - 140.4 (0.4) 132.6 Interest income/(expense), net (16.4) - 5.7 - (10.7) Other expense, net (0.2) - (1.8) - (2.0) Total other income/(expense), net (16.6) - 3.9 - (12.7) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (24.0) - 144.3 (0.4) 119.9 Income tax benefit/(charge) 0.8 - 43.3 - 44.1 Equity in income/(losses) of equity method investees, net of taxes 182.8 - 0.1 (182.8) 0.1 Income/(loss) from continuing operations, net of taxes 159.6 - 187.7 (183.2) 164.1 Loss from discontinued operations, net of taxes 1 - - (4.5) - (4.5) Net income/(loss) 159.6 - 183.2 (183.2) 159.6 Comprehensive income/(loss) $ 208.4 $ - $ 232.0 $ (232.0) $ 208.4 Condensed Consolidating Statements of Operations (for the 6 months ended June 30, 2015) Shire Plc (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) Revenues: Product sales $ - $ - $ 2,899.4 $ - $ 2,899.4 Royalties & other revenues - - 146.6 - 146.6 Total revenues - - 3,046.0 - 3,046.0 Costs and expenses: Cost of product sales - - 455.8 - 455.8 Research and development - - 969.6 - 969.6 Selling, general and administrative 12.8 - 900.8 0.7 914.3 Integration and acquisition costs - - (136.7) - (136.7) Amortization of acquired intangible assets - - 219.6 - 219.6 Other operating expenses - - 16.2 - 16.2 Total operating expenses 12.8 - 2,425.3 0.7 2,438.8 Operating income/(loss) from continuing operations (12.8) - 620.7 (0.7) 607.2 Interest income/(expense), net (30.4) - 12.1 - (18.3) Other income/(expense), net 1.2 - 1.1 - 2.3 Total other (expense)/income, net (29.2) - 13.2 - (16.0) Income/(loss) from continuing operations before income taxes and equity in (losses)/earnings of equity method investees (42.0) - 633.9 (0.7) 591.2 Income tax benefit/(charge) 1.3 - (14.6) - (13.3) Equity in income/(losses) of equity method investees, net of taxes 610.7 - (0.9) (610.7) (0.9) Income/(loss) from continuing operations, net of taxes 570.0 - 618.4 (611.4) 577.0 Loss from discontinued operations, net of taxes 1 - - (7.0) - (7.0) Net income/(loss) 570.0 - 611.4 (611.4) 570.0 Comprehensive (loss)/income $ 490.0 $ - $ 531.4 $ (531.4) $ 490.0
Condensed Balance Sheet [Table Text Block]	Condensed Consolidating Balance Sheet (As of June 30, 2016) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ - $ 53.4 $ 640.0 $ - $ 693.4 Restricted cash - - 20.0 - 20.0 Accounts receivable, net - - 2,432.0 (19.6) 2,412.4 Inventories - - 5,798.7 - 5,798.7 Prepaid expenses and other current assets 1.8 7.8 724.0 - 733.6 Intercompany receivables - 631.9 5,286.9 (5,918.8) - Total current assets 1.8 693.1 14,901.6 (5,938.4) 9,658.1 Non-current assets: Investments 36,404.6 36,234.8 12,545.5 (85,010.9) 174.0 Property, plant and equipment, net - 18.5 6,577.8 - 6,596.3 Goodwill - - 12,962.4 - 12,962.4 Intangible assets, net - - 40,890.3 - 40,890.3 Other non-current assets 4.6 368.4 275.4 (209.0) 439.4 Total assets $ 36,411.0 $ 37,314.8 $ 88,153.0 $ (91,158.3) $ 70,720.5 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 66.0 $ 131.5 $ 3,550.5 $ (19.9) $ 3,728.1 Short term borrowings 905.0 - 1,810.2 - 2,715.2 Intercompany payables 5,270.5 16.1 631.9 (5,918.5) - Other current liabilities (0.1) 28.7 382.9 - 411.5 Total current liabilities 6,241.4 176.3 6,375.5 (5,938.4) 6,854.8 Non-current liabilities: Long term borrowings - 5,114.7 16,197.4 - 21,312.1 Deferred tax liability - - 10,252.8 (199.0) 10,053.8 Other non-current liabilities 406.6 79.5 2,260.7 (10.0) 2,736.8 Total liabilities 6,648.0 5,370.5 35,086.4 (6,147.4) 40,957.5 Total equity 29,763.0 31,944.3 53,066.6 (85,010.9) 29,763.0 Total liabilities and equity $ 36,411.0 $ 37,314.8 $ 88,153.0 $ (91,158.3) $ 70,720.5 Condensed Consolidating Balance Sheet (As of December 31, 2015) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) ASSETS Current assets: Cash and cash equivalents $ - $ - $ 135.5 $ - $ 135.5 Restricted cash - - 86.0 - 86.0 Accounts receivable, net - - 1,201.2 - 1,201.2 Inventories - - 635.4 - 635.4 Prepaid expenses and other current assets (6.5) - 203.9 - 197.4 Intercompany receivables - - 3,145.3 (3,145.3) - Total current assets (6.5) - 5,407.3 (3,145.3) 2,255.5 Non-current assets: Investments 14,477.2 - 50.8 (14,477.2) 50.8 Property, plant and equipment, net - - 828.1 - 828.1 Goodwill - - 4,147.8 - 4,147.8 Intangible assets, net - - 9,173.3 - 9,173.3 Other non-current assets 13.7 - 140.6 - 154.3 Total assets $ 14,484.4 $ - $ 19,747.9 $ (17,622.5) $ 16,609.8 LIABILITIES AND EQUITY Current liabilities: Accounts payable and accrued expenses $ 10.0 $ - $ 2,040.6 $ - $ 2,050.6 Short term borrowings 1,500.0 - 11.5 - 1,511.5 Intercompany payables 3,145.3 - - (3,145.3) - Other current liabilities - - 144.0 - 144.0 Total current liabilities 4,655.3 - 2,196.1 (3,145.3) 3,706.1 Non-current liabilities: Long term borrowings - - 69.9 - 69.9 Deferred tax liability - - 2,205.9 - 2,205.9 Other non-current liabilities - - 798.8 - 798.8 Total liabilities 4,655.3 - 5,270.7 (3,145.3) 6,780.7 Total equity 9,829.1 - 14,477.2 (14,477.2) 9,829.1 Total liabilities and equity $ 14,484.4 $ - $ 19,747.9 $ (17,622.5) $ 16,609.8
Condensed Cash Flow Statement [Table Text Block]	Condensed Consolidating Statement of Cash Flows (For the six months ended June 30, 2016) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (13.8) $ 1.6 $ 992.6 $ - $ 980.4 CASH FLOWS FROM INVESTING ACTIVITIES: Transactions with subsidiaries (1,900.0) - (21,625.6) 23,525.6 - Movements in restricted cash - - 67.2 - 67.2 Purchases of businesses, net of cash acquired (19,049.0) - 1,572.8 - (17,476.2) Purchases of non-current investments and PP&E - (1.9) (177.2) - (179.1) Proceeds from sale of product rights - - 5.6 - 5.6 Other, net - - (2.3) - (2.3) Net cash provided by (used in) investing activities (20,949.0) (1.9) (20,159.5) 23,525.6 (17,584.8) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 905.0 - 17,990.0 - 18,895.0 Repayment of revolving line of credit, long term and short term borrowings (1,500.0) - (0.3) - (1,500.3) Proceeds from intercompany borrowings 21,572.2 53.4 1,900.0 (23,525.6) - Payment of dividend (14.4) - (115.8) - (130.2) Excess tax benefit associated with exercise of stock options - - 5.1 - 5.1 Debt issuance costs - - (112.3) - (112.3) Contingent consideration payments - - (4.2) - (4.2) Other, net - 0.3 10.8 - 11.1 Net cash provided by (used in) financing activities 20,962.8 53.7 19,673.3 (23,525.6) 17,164.2 Effect of foreign exchange rate changes on cash and cash equivalents - - (1.9) - (1.9) Net increase in cash and cash equivalents - 53.4 504.5 - 557.9 Cash and cash equivalents at beginning of period - - 135.5 - 135.5 Cash and cash equivalents at end of period $ - $ 53.4 $ 640.0 $ - $ 693.4 Condensed Consolidating Statement of Cash Flows (For the six months ended June 30, 2015) Shire Plc. (Parent Guarantor) Baxalta Inc. (Issuer) Non-Guarantor subsidiaries Eliminations Consolidated (in millions) CASH FLOWS FROM OPERATING ACTIVITIES Net cash provided (used in) operating activities $ (85.0) $ - $ 1,098.9 $ - $ 1,013.9 CASH FLOWS FROM INVESTING ACTIVITIES: Net transactions with subsidiaries (3,570.0) - (2,345.1) 5,915.1 - Movements in restricted cash - - (19.5) - (19.5) Purchases of businesses, net of cash acquired - - (5,249.2) - (5,249.2) Purchases of non-current investments and PP&E - - (44.7) - (44.7) Proceeds from short-term investments - - 67.0 - 67.0 Proceeds from sale of product rights - - 8.8 - 8.8 Proceeds from disposal of non-current investments - - 4.4 - 4.4 Other, net - - (0.9) - (0.9) Net cash provided by (used in) investing activities (3,570.0) - (7,579.2) 5,915.1 (5,234.1) CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from revolving line of credit, long term and short term borrowings 2,850.0 - 75.6 - 2,925.6 Repayment of revolving line of credit, long term and short term borrowings (1,530.0) - (0.9) - (1,530.9) Net proceeds from/(to) intercompany borrowings 2,345.1 - 3,570.0 (5,915.1) - Payment of dividend (5.6) - (104.6) - (110.2) Excess tax benefit associated with exercise of stock options - - 27.0 - 27.0 Contingent consideration payments - - (4.5) - (4.5) Other, net (4.5) - - - (4.5) Net cash provided by (used in) financing activities 3,655.0 - 3,562.6 (5,915.1) 1,302.5 Effect of foreign exchange rate changes on cash and cash equivalents - - (0.7) - (0.7) Net decrease in cash and cash equivalents - - (2,918.4) - (2,918.4) Cash and cash equivalents at beginning of period - - 2,982.4 - 2,982.4 Cash and cash equivalents at end of period $ - $ - $ 64.0 $ - $ 64.0

Summary of Significant Accoun51

Summary of Significant Accounting Policies (Details) $ in Millions	Jun. 03, 2016USD ($)
Baxalta
Preliminary fair value of purchase consideration	$ 32,383.5

Business Combinations (Details)

Business Combinations (Details) $ / shares in Units, shares in Millions, $ in Millions	Jun. 03, 2016USD ($)$ / sharesshares	Jan. 22, 2016USD ($)$ / shares	Feb. 21, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Integration and acquisition costs				$ 363	$ (212.4)	$ 454.1	$ (136.7)
Non-current assets:
Goodwill				12,962.4	4,173.3	12,962.4	4,173.3	$ 4,147.8	$ 2,474.9
Pro Forma Information
Post acquisition unwind of inventory fair value adjustment included in consolidated statement of income						293.5	16.3
Baxalta
Business Acquisition [Line Items]
Purchase price paid per share of acquiree, in cash (in USD per share) | $ / shares	$ 18
Cash consideration paid	$ 12,366.7
Acquisition-date fair value of consideration	(32,383.5)
Maximum amount of contingent cash consideration	1,500
Integration and acquisition costs				414.5		442.3
Business Combination, Consideration Transferred [Abstract]
Cash paid to shareholders	12,366.7
Fair value of stock issued to shareholders	19,353.2
Fair value of partially vested stock options and RSUs assumed	497.6
Fair Value of contingent consideration payable	166
Total Purchase Consideration	$ 32,383.5
Shares issued for acquisition, number of shares | shares	305.2
Current assets:
Cash and cash equivalents	$ 583.2
Accounts receivable,net	1,382.8
Inventories	5,341.1
Other current assets	362.2
Total current assets	7,669.3
Non-current assets:
Property, plant and equipment,net	5,687.7
Investments	128.2
Goodwill	6,106.4
Other non-current assets	103.3
Total assets	47,257.1
Current liabilities:
Accounts payable and other current liabilities	1,509.5
Other current liabilities	15.4
Non-current liabilities:
Long term debt, less current portion	5,424.9
Deferred tax liabilities	6,831.7
Other non-current liabilities	1,092.1
Total liabilities	14,873.6
Fair value of identified assets acquired and liabilities assumed	(32,383.5)
Pro Forma Information
Post acquisition revenues included in consolidated statement of income				580.3		580.3
Post acquisition pre-tax losses included in consolidated statement of income				(419.8)		(419.8)
Post acquisition amortization of intangible assets included in consolidated statement of income				74.1		74.1
Post acquisition unwind of inventory fair value adjustment included in consolidated statement of income				266		266
Post acquisition integration costs included in consolidated statement of income				272.9		272.9
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
defined benefit pension plans, fair value of assets	358.5
Defined benefit net liability	$ (610.4)
Baxalta | Ordinary Shares
Business Acquisition [Line Items]
Shire shares per Baxalta share	0.4446
Baxalta | ADS
Business Acquisition [Line Items]
Shire shares per Baxalta share	0.1482
Baxalta | Currently marketed products
Business Acquisition [Line Items]
Weighted average amortization period of acquired amortizable intangible assets	30 years
Non-current assets:
Other intangible assets, net	$ 24,550
Baxalta | Currently marketed products | Minimum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	11 years
Baxalta | Currently marketed products | Maximum
Business Acquisition [Line Items]
Estimated useful life of intangible assets	38 years
Baxalta | In-Process Research and Development ("IPR&D")
Non-current assets:
Other intangible assets, net	$ 2,940
Baxalta | In-Process Research and Development ("IPR&D") | Minimum
Business Acquisition [Line Items]
Discount rate used in determining fair value of acquired in process research and development, low rate	10.00%
Baxalta | In-Process Research and Development ("IPR&D") | Maximum
Business Acquisition [Line Items]
Discount rate used in determining fair value of acquired in process research and development, high rate	11.00%
Baxalta | other contract rights
Non-current assets:
Other intangible assets, net	$ 72.2
Dyax
Business Acquisition [Line Items]
Purchase price paid per share of acquiree, in cash (in USD per share) | $ / shares		$ 37.3
Contingent consideration payable, per share | $ / shares		$ 4
Cash consideration paid		$ 5,934
Acquisition-date fair value of consideration		(6,330)
Maximum amount of contingent cash consideration		646
Integration and acquisition costs				2		53.7
Business Combination, Consideration Transferred [Abstract]
Cash paid to shareholders		5,934
Fair Value of contingent consideration payable		396
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		2,727.9
Other non-current assets		28.3
Total assets		7,704.8
Current liabilities:
Accounts payable and other current liabilities		30
Other current liabilities		1.7
Non-current liabilities:
Deferred tax liabilities		1,341.7
Other non-current liabilities		1.4
Total liabilities		1,374.8
Fair value of identified assets acquired and liabilities assumed		$ (6,330)
Pro Forma Information
Post acquisition revenues included in consolidated statement of income				24		34.6
Post acquisition pre-tax losses included in consolidated statement of income				131.9		186.4
Post acquisition amortization of intangible assets included in consolidated statement of income				8		14
Post acquisition unwind of inventory fair value adjustment included in consolidated statement of income				1.5		2.6
Post acquisition integration costs included in consolidated statement of income				$ 9.3		$ 30.3
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 | Currently marketed products
Non-current assets:
Other intangible assets, net		$ 135
Dyax | In-Process Research and Development ("IPR&D")
Non-current assets:
Other intangible assets, net		$ 4,100
Dyax | Royalty rights
Business Acquisition [Line Items]
Weighted average amortization period of acquired amortizable intangible assets		8 years
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]
Cash consideration paid			$ 5,219.6
Acquisition-date fair value of consideration			5,219.6
Integration and acquisition costs					$ 47.8		$ 117.7
Business Combination, Consideration Transferred [Abstract]
Cash paid to shareholders			5,219.6
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 | Currently marketed products
Non-current assets:
Other intangible assets, net			$ 4,640
NPS Pharma | Currently marketed products | GATTEX/REVESTIVE
Business Acquisition [Line Items]
Estimated useful life of intangible assets			24 years
NPS Pharma | Currently 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		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Baxalta
Pro Forma Information
Revenues	$ 3,484.1	$ 2,986.6	$ 6,741.4	$ 5,836
Net income/(loss) from continuing operations	$ 716	$ (401.4)	$ 1,177.3	$ (976.1)
Net income/(loss) from continuing operations per share - basic	$ 0.81	$ (0.45)	$ 1.33	$ (1.09)
Net income/(loss) from continuing operations per share - diluted	$ 0.81	$ (0.45)	$ 1.32	$ (1.09)
Pro Forma Data Adjustments
Decrease to net income to reflect the additional depreciation expense related to the fair value adjustment to property, plant and equipment acquired	$ 3.5	$ 5.2	$ 8.7	$ 10.5
An adjustment to increase amortization of intangible assets	(104.4)	(166.7)	(258.6)	(333.4)
Increase/(decrease) to net income to reflect acquisition related costs	361.6		400.9	(400.9)
Decrease to net income to reflect the additional interest expense	(42.5)	(87.4)	(59)	(174)
Increase/(decrease) to net income to reflect the fair value adjustment to acquisition date inventory.	206.4	(600.7)	206.4	(1,201.3)
Dyax
Pro Forma Information
Revenues	2,429.1	1,584	4,144.3	3,092.8
Net income/(loss) from continuing operations	$ 88.6	$ 128.3	$ 490.2	$ 406.3
Net income/(loss) from continuing operations per share - basic	$ 0.13	$ 0.22	$ 0.77	$ 0.69
Net income/(loss) from continuing operations per share - diluted	$ 0.13	$ 0.22	$ 0.77	$ 0.69
Pro Forma Data Adjustments
An adjustment to increase amortization of intangible assets		$ (5.4)	$ (1.3)	$ (10.8)
Increase/(decrease) to net income to reflect acquisition related costs	$ 2		$ 101.2	(101.2)
Decrease to net income to reflect the additional interest expense		(20.4)		(40.8)
Increase/(decrease) to net income to reflect the fair value adjustment to acquisition date inventory.		(1.6)		(2.3)
NPS Pharma
Pro Forma Information
Revenues		1,557.6		3,075.9
Net income/(loss) from continuing operations		$ 167.8		$ 526.6
Net income/(loss) from continuing operations per share - basic		$ 0.28		$ 0.96
Net income/(loss) from continuing operations per share - diluted		$ 0.28		$ 0.95
Pro Forma Data Adjustments
An adjustment to increase amortization of intangible assets		$ 0		$ (21.1)
Increase/(decrease) to net income to reflect acquisition related costs		0.4		106.8
Increase/(decrease) to net income to reflect the fair value adjustment to acquisition date inventory.		$ 3.1		$ 9.2

Collaborative and other licen54

Collaborative and other licensing arrangements (Collaborative Arrangements) (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2016EUR (€)	Jun. 30, 2015USD ($)	Jun. 30, 2016EUR (€)
In-licensing arrangements
Option exercise fee, for each protein | €						€ 20
Agreement with SFJ Pharmaceuticals IX, L.P. [Member]
In-licensing arrangements
Maximum conditional obligation	$ 451.5		$ 451.5
Fair value of assumed contingency	(288.6)		(288.6)
Business collaboration development cost funding	165		165
Option to increase R&D funding	35		35
Unfunded Contingent Payments [Member]
Unfunded Contingent Payments [Abstract]
Unfunded Contingent Payments			1,800
In-licensing Arrangement | Collaboration with Precision BioSciences [Member] | Future payments related to option fees and development, regulatory and commercial milestones
In-licensing arrangements
Maximum conditional obligation	1,600		1,600
In-licensing Arrangement | Research Collaboration with Symphogen [Member] | Future payments related to option fees and development, regulatory and commercial milestones
In-licensing arrangements
Milestones payment | €				€ 1,200
Out-licensing Arrangement
Out-licensing arrangements
Milestone payments received			0.5		$ 12.6
Milestone revenues recognized			2.3		1
Out-licensing Arrangement | Other Revenues
Out-licensing arrangements
Milestone revenues recognized	1	$ 0.5
Out-licensing Arrangement | Product Sales
Out-licensing arrangements
Milestone revenues recognized	16.2	$ 14.2	31.3		$ 23.4
Out-licensing Arrangement | Development Milestone
Out-licensing arrangements
Maximum milestone payment receivable	32		32
Out-licensing Arrangement | Sales Milestone
Out-licensing arrangements
Maximum milestone payment receivable	$ 42.7		42.7
Out-licensing Arrangement | License Agreement with Merrimack Pharmaceuticals [Member] | Future payments related to option fees and development, regulatory and commercial milestones
In-licensing arrangements
Milestones payment			678
Out-licensing Arrangement | License Agreement with Coherus Biosciences, Inc [Member] | Future payments related to option fees and development, regulatory and commercial milestones
In-licensing arrangements
Milestones payment			$ 70

Integration and acquisition c55

Integration and acquisition costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Integration and acquisition costs	$ 363	$ (212.4)	$ 454.1	$ (136.7)
Contingent consideration payments			(4.2)	(4.5)
Baxalta and Dyax
Business Acquisition [Line Items]
Integration and acquisition costs	362.8		453.9
Baxalta
Business Acquisition [Line Items]
Integration and acquisition costs	414.5		442.3
Integration costs	$ 272.9		272.9
NPS Pharma
Business Acquisition [Line Items]
Integration and acquisition costs		47.8		117.7
Lumena and Lotus Tissue Repair
Business Acquisition [Line Items]
Change in fair value of contingent consideration		$ (258.1)		$ (255.7)
Employee termination benefits and other reorganization costs | Baxalta
Business Acquisition [Line Items]
Integration costs			253.1
R&D program cancelation | Baxalta
Business Acquisition [Line Items]
Integration costs			$ 12.7

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of taxes	$ (248.7)	$ (4.5)	$ (239.2)	$ (7)
DERMAGRAFT | Discontinued operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income taxes/(benefit)	(100.9)	(2.6)	(95.4)	(4)
Loss from discontinued operations, net of taxes	$ 248.7	$ 4.5	$ 239.2	$ 7

Accounts Receivable, Net (Detai

Accounts Receivable, Net (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Provision for discounts and doubtful accounts
As at January 1,	$ 55.8	$ 48.5
Provision charged to operations	269.6	186.6
Payments/credits related to sales	(201)	(181.6)
As at June 30,	124.4	$ 53.5
Accounts receivable, net	2,412.4		$ 1,201.2
Accounts receivable related to royalty income	$ 100		$ 79

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Schedule of Inventory
Finished goods	$ 1,389.2	$ 184.9
Work-in-progress	3,409	302
Raw materials	1,000.5	148.5
Total inventories	5,798.7	$ 635.4
Inventory stated at fair value	$ 4,823.6

Property Plant and Equipment (D

Property Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Property, Plant and Equipment, Net
Land	$ 356.2		$ 356.2		$ 96.7
Buildings and leasehold improvements	1,965.8		1,965.8		606.4
Machinery, equipment and other	2,158.3		2,158.3		827.4
Assets under construction	2,963.2		2,963.2		93.7
Property, plant and equipment, gross	7,443.5		7,443.5		1,624.2
Less: Accumulated depreciation	(847.2)		(847.2)		(796.1)
Property, plant and equipment, net	6,596.3		6,596.3		$ 828.1
depreciation	$ 47.9	$ 39.9	$ 82.2	$ 72.2

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	Jun. 03, 2016	Jan. 22, 2016	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Intangible Assets (Excluding Goodwill) [Line Items]
Gross other intangible assets			$ 43,173.5		$ 11,108.9
Less: Accumulated amortization			(2,283.2)		(1,935.6)
Other intangible assets, net			40,890.3	$ 9,310.4	9,173.3	$ 4,934.4
Other Disclosures
Acquisitions			32,222.2	$ 5,167.8
Estimates of Annual Amortization
2016 (remaining six months)			706.1
2,017			1,411.3
2,018			1,404.6
2,019			1,325.8
2,020			1,321.7
2,021			1,315.4
IP rights for marketed products
Intangible Assets (Excluding Goodwill) [Line Items]
Gross other intangible assets			33,929.5		9,371.9
Less: Accumulated amortization			(2,142.8)		(1,852.1)
Other intangible assets, net			31,786.7		7,519.8
IP rights for marketed products | Baxalta
Other Disclosures
Acquisitions	$ 24,550
IP rights for marketed products | Dyax
Other Disclosures
Acquisitions		$ 135
IP rights for in-process research and development unamortized
Intangible Assets (Excluding Goodwill) [Line Items]
Gross other intangible assets			8,371.8		1,362
Less: Accumulated amortization			0		0
Other intangible assets, net			8,371.8		1,362
Other intangible assets
Intangible Assets (Excluding Goodwill) [Line Items]
Gross other intangible assets			872.2		375
Less: Accumulated amortization			(140.4)		(83.5)
Other intangible assets, net			$ 731.8		$ 291.5
Acquired IP rights for in-process research and development ("IPR&D") | Baxalta
Other Disclosures
Acquisitions	2,940
Acquired IP rights for in-process research and development ("IPR&D") | Dyax
Other Disclosures
Acquisitions		4,100
Royalty rights | Dyax
Other Disclosures
Acquisitions		$ 425
Contract based arrangements | Baxalta
Other Disclosures
Acquisitions	$ 72.2

Intangible Assets (Roll Forward

Intangible Assets (Roll Forward) (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Other Intangible Assets Roll Forward
As at January 1,	$ 9,173.3	$ 4,934.4	$ 4,934.4
Acquisitions	32,222.2	5,167.8
Amortization of intangible assets	(347.6)	(219.6)
Impairment charges	(8.9)	(523.3)	(523.3)
Foreign currency translation	(148.7)	(48.9)
As at June 30,	$ 40,890.3	$ 9,310.4	$ 9,173.3

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Goodwill [Roll Forward]
As at January 1,	$ 4,147.8	$ 2,474.9
Acquisition	8,834.3	1,720.6
Foreign currency translation	(19.7)	(22.2)
As at June 30,	$ 12,962.4	$ 4,173.3

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	Jun. 30, 2016	Dec. 31, 2015
Fair value
Financial assets:
Marketable equity securities	$ 54.4	$ 17.2
Contingent consideration receivable	17.5	13.8
Derivative contracts	65.3	1.9
Marketable debt securities	16.8
Financial liabilities:
Derivative contracts	40.7	11.5
Contingent consideration payable	993.8	475.9
Level 1
Financial assets:
Marketable equity securities	54.4	17.2
Contingent consideration receivable	0	0
Derivative contracts	0	0
Marketable debt securities	3.7
Financial liabilities:
Derivative contracts	0	0
Contingent consideration payable	0	0
Level 2
Financial assets:
Marketable equity securities	0	0
Contingent consideration receivable	0	0
Derivative contracts	65.3	1.9
Marketable debt securities	13.1
Financial liabilities:
Derivative contracts	40.7	11.5
Contingent consideration payable	0	0
Level 3
Financial assets:
Marketable equity securities	0	0
Contingent consideration receivable	17.5	13.8
Derivative contracts	0	0
Marketable debt securities
Financial liabilities:
Derivative contracts	0	0
Contingent consideration payable	$ 993.8	$ 475.9

Fair Value Measurement (Asset64

Fair Value Measurement (Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Change in the Fair Value of Contigent Consideration Receivable
Balance at beginning of period	$ 13.8	$ 15.9
Change in fair value included in earnings	2.1	8.6
Reclassification of amounts to Other receivables within Other current assets	1.6	(7.8)
Balance at end of period	17.5	16.7
Change in the Fair Value of Contigent Consideration Payable
Balance at beginning of period	475.9	629.9
Additions	562.5	92.1
Change in fair value included in earnings	(45)	(255.7)
Change in fair value during the period with corresponding adjustment to the associated intangible asset	(0.4)	1.6
Balance at end of period	993.8	$ 464.7
Contingent consideration payable, current (within other current liabilities)	49.2
Contingent consideration payable, non-current (within other non-current liabilities)	$ 944.6

Fair Value Measurement (Quantit

Fair Value Measurement (Quantitative Information About Recurring and Non-recurring Level 3 Fair Value Measurements) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Senior Notes, Noncurrent	$ 5,114	$ 0
Capital lease obligation	$ (348.9)
Recurring Basis | Contingent Consideration Payable | Minimum
Fair Value Inputs
Assumed market participant discount rate	1.50%
Cumulative probability of milestones being achieved (in percent)	1.00%
Periods in which milestones are expected to be achieved	2,016
Forecast quarterly royalties payable on net sales of relevant products	$ 1.4
Recurring Basis | 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	2,036
Forecast quarterly royalties payable on net sales of relevant products	$ 3.8
Recurring Basis | Contingent Consideration Payable | Income approach (probability weighted discounted cash flow)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Liabilities	993.8
Recurring Basis | Contingent Consideration Receivable | Income approach (probability weighted discounted cash flow)
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Assets	$ 17.5
Fair Value Inputs
Assumed market participant discount rate	8.40%
Recurring Basis | 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
Recurring Basis | 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	$ 25
Nonrecurring Basis | Carrying value
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Senior Notes, Noncurrent	5,114	0
Capital lease obligation	348.9	13.4
Nonrecurring Basis | Fair value
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Senior Notes, Noncurrent	5,114	0
Capital lease obligation	$ 348.9	$ 13.4

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 286.9
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	519
Fair value portion of Derivative recgonized in OCI, Loss	3.4
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Derivative, Notional Amount	519
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	668	$ 625.5
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Baxalta
Derivative [Line Items]
Derivative, Notional Amount	249.3
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Baxalta
Derivative [Line Items]
Derivative, Notional Amount	37.6
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Baxalta
Derivative [Line Items]
Derivative, Notional Amount	1,000
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 5,100

Financial Instruments (Derivati

Financial Instruments (Derivative Income Statement Location, Gains & Losses) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 2.3
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	0	$ 0
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in OCI	(3.4)
Foreign Exchange Contract [Member] | Cost of Sales [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in OCI		0
Foreign Exchange Contract [Member] | Other Income [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	(28.8)	21.3
Interest Rate Contract [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	4.6
Interest Rate Contract [Member] | Interest Expense [Member] | November 2015 Facilities Agreement
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	4.6	0
Interest Rate Contract [Member] | Interest Expense [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in OCI	22.1	0
Interest Rate Contract [Member] | Interest Expense [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of net gains/(losses) recognized in income	$ 4.6	$ 0

Financial Instruments (Foreign

Financial Instruments (Foreign Exchange Risk and Its Classification on Balance Sheet) (Details) $ in Millions	Jun. 30, 2016USD ($)anda
Derivatives, Fair Value
Net, Derivative Asset	$ 54.2
Net, Derivative Liabilities	29.6
Potential effect of rights of set off assoicated with the foreign exchange contracts	$ 11.1
Swaps and foreign exchange contracts | anda	351
Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Net, Derivative Asset	$ 57.4
Net, Derivative Liabilities	9.3
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Assets	65.3
Liabilities	40.7
Foreign Exchange Contract | Prepaid and other current assets | Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Assets	1.8
Foreign Exchange Contract | Prepaid and other current assets | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Assets	7.9
Foreign Exchange Contract | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Liabilities	9.3
Foreign Exchange Contract | Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Liabilities	26.8
Interest Rate Contract [Member] | Prepaid and other current assets | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Assets	0
Interest Rate Contract [Member] | Other Noncurrent Assets [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Assets	55.6
Interest Rate Contract [Member] | Accrued Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Liabilities	0
Interest Rate Contract [Member] | Accrued Liabilities [Member] | Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value
Liabilities	$ 4.6

Borrowings (Short-term Borrowin

Borrowings (Short-term Borrowings) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Short-term Debt [Line Items]
Other borrowings	$ 16.6	$ 11.5
Capital lease obligations (current portion)	5.3
Short-term Debt, Total	2,715.2	1,511.5
Revolving Credit Facility [Member]
Short-term Debt [Line Items]
Line of Credit, Current	905	750
January 2016 Facilities Agreement
Short-term Debt [Line Items]
Line of Credit, Current	0	750
November 2015 Facilities Agreement
Short-term Debt [Line Items]
Line of Credit, Current	$ 1,788.3	$ 0

Borrowings (Long-term Borrowing

Borrowings (Long-term Borrowings) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Senior Notes, Noncurrent	$ 5,114	$ 0
Secured Long-term Debt, Noncurrent	64.4	69.9
Capital lease obligations (long term portion)	343.6	0
Long-term Debt, Gross, Total	24,370.9	1,581.4
November 2015 Facilities Agreement
Debt Instrument [Line Items]
Long-term Line of Credit, Noncurrent	3,792.1	0
January 2016 Facilities Agreement
Debt Instrument [Line Items]
Long-term Line of Credit, Noncurrent	$ 12,341.6	$ 0

Borrowings (Maturities of Long-

Borrowings (Maturities of Long-term Debt & Capital Lease Obliations) (Details) $ in Millions	Jun. 30, 2016USD ($)
Maturities of Long-term Debt and Capital Lease Obligations
2016 (remaining six months)	$ 1,010
2,017	2,231
2,018	15,574.8
2,019	44.2
2,020	1,946.7
2,021	18.5
Thereafter	3,621.3
Total obligations	24,446.5
Fair value hedges and unamortized bond discounts	(75.6)
Total debt and capital lease obligations	$ 24,370.9

Borrowings (Senior Notes Relate

Borrowings (Senior Notes Related to Baxalta Acquisition) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal amount	$ 5,000
Debt Instrument Carrying Amount	24,370.9	$ 1,581.4
Baxalta | Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument Carrying Amount	5,114
Baxalta | Senior Notes [Member] | Variable-rate notes due 2018 [Member]
Debt Instrument [Line Items]
Principal amount	$ 375
Effective Interest Rate	1.43%
Debt Instrument Carrying Amount	$ 370.3
Variable coupon rate, description	LIBOR plus 0.78%
Baxalta | Senior Notes [Member] | Variable-rate notes due 2018 [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Coupon Rate	0.78%
Baxalta | Senior Notes [Member] | Fixed-rate notes due 2018 [Member]
Debt Instrument [Line Items]
Principal amount	$ 375
Coupon Rate	2.00%
Effective Interest Rate	2.20%
Debt Instrument Carrying Amount	$ 374.7
Baxalta | Senior Notes [Member] | Fixed-rate notes due 2020 [Member]
Debt Instrument [Line Items]
Principal amount	$ 1,000
Coupon Rate	2.88%
Effective Interest Rate	3.00%
Debt Instrument Carrying Amount	$ 1,020
Baxalta | Senior Notes [Member] | Fixed-rate notes due 2022 [Member]
Debt Instrument [Line Items]
Principal amount	$ 500
Coupon Rate	3.60%
Effective Interest Rate	3.70%
Debt Instrument Carrying Amount	$ 509.1
Baxalta | Senior Notes [Member] | Fixed-rate notes due 2025 [Member]
Debt Instrument [Line Items]
Principal amount	$ 1,750
Coupon Rate	4.00%
Effective Interest Rate	4.20%
Debt Instrument Carrying Amount	$ 1,807.6
Baxalta | Senior Notes [Member] | Fixed-rate notes due 2045 [Member]
Debt Instrument [Line Items]
Principal amount	$ 1,000
Coupon Rate	5.25%
Effective Interest Rate	5.60%
Debt Instrument Carrying Amount	$ 1,032.3

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) € in Millions, $ in Millions	Jul. 11, 2016	Jan. 11, 2016USD ($)contract	Nov. 02, 2015USD ($)contract	Dec. 12, 2014USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016EUR (€)	Jun. 03, 2016USD ($)	Dec. 31, 2015USD ($)
Line of Credit Facility [Line Items]
Other borrowings					$ 64.4				$ 69.9
Principal amount					5,000
Long-term borrowings					21,312.1				69.9
Short-term borrowings					2,715.2				$ 1,511.5
Repayment of lines of credit					(1,500.3)	$ (1,530.9)
Capital lease obligation					(348.9)
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
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	Jul. 11, 2016
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
Long-term borrowings								$ 12,390
January 2016 Facility A | January 2016 Facilities Agreement | Baxalta
Line of Credit Facility [Line Items]
Repayment of lines of credit					(610)
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
Revolving Credit Facility | Baxalta
Line of Credit Facility [Line Items]
Facilitiy agreement total amount					$ 1,200		€ 200

Retirement and Other Benefit 74

Retirement and Other Benefit Programs (Projected Benefit Obligations & Plan Assets & Accumulated Benefit Obligations in Excess of Plan Assets) (Details) - USD ($) $ in Millions	Jun. 03, 2016	Jun. 30, 2016	Jun. 30, 2016
U.S. Pension
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Current Liabilities	$ (0.2)
Net liability recognized as of June 3, 2016	(223.6)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2016 (after June 3, 2016)		$ 0.9	$ 0.9
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		7.00%	7.00%
International Pension
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent	(360.2)
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate		4.50%	4.50%
OPEB
Defined Benefit Plan, Funded Status of Plan [Abstract]
Projected Benefit Obligation	23.5
Baxalta Incorporated [Member]
Defined Benefit Plan, Funded Status of Plan [Abstract]
Projected Benefit Obligation	945.4
Plan Assets	358.5
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Net liability recognized as of June 3, 2016	610.4
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
Fair Value of Plan Assets	358.5
Baxalta Incorporated [Member] | U.S. Pension
Defined Benefit Plan, Funded Status of Plan [Abstract]
Projected Benefit Obligation	441.6
Plan Assets	218	$ 218	$ 218
Funded Status as of June 3, 2016	(223.6)
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Current Liabilities	0
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent	(223.4)
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax	369.2
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
ABO	369.2
Fair Value of Plan Assets	$ 218
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2,017		3.6	3.6
2,018		5.4	5.4
2,019		7.3	7.3
2,020		9.3	9.3
2021 through 2025		75.6	75.6
Total expected benefit payments for next 10 years		102.1	102.1
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service Cost		1.9	1.9
Interest Cost		1.6	1.6
Expected Return on Plan Assets		(1.3)	(1.3)
Net Periodic Benefit Cost		2.2	2.2
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.10%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase	3.80%
Baxalta Incorporated [Member] | International Pension
Defined Benefit Plan, Funded Status of Plan [Abstract]
Projected Benefit Obligation	$ 503.8
Plan Assets	140.5	140.5	140.5
Funded Status as of June 3, 2016	(363.3)
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Current Liabilities	(3.1)
Pension and Other Postretirement Defined Benefit Plans, Liabilities, Noncurrent	(23.5)
Net liability recognized as of June 3, 2016	(363.3)
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), before Tax	386.8
Defined Benefit Plan, Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets [Abstract]
ABO	364.9
Fair Value of Plan Assets	$ 118.2
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2016 (after June 3, 2016)		7.3	7.3
2,017		14.7	14.7
2,018		14.6	14.6
2,019		16.2	16.2
2,020		16.7	16.7
2021 through 2025		104.8	104.8
Total expected benefit payments for next 10 years		174.3	174.3
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service Cost		2.6	2.6
Interest Cost		0.4	0.4
Expected Return on Plan Assets		(0.5)	(0.5)
Net Periodic Benefit Cost		2.5	2.5
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	1.00%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase	3.20%
Baxalta Incorporated [Member] | OPEB
Defined Benefit Plan, Funded Status of Plan [Abstract]
Plan Assets	$ 0
Funded Status as of June 3, 2016	(23.5)
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Net liability recognized as of June 3, 2016	$ (23.5)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2016 (after June 3, 2016)		0	0
2,017		0.2	0.2
2,018		0.3	0.3
2,019		0.4	0.4
2,020		0.5	0.5
2021 through 2025		3.5	3.5
Total expected benefit payments for next 10 years		4.9	4.9
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Service Cost		0.1	0.1
Interest Cost		0.1	0.1
Expected Return on Plan Assets		0	0
Net Periodic Benefit Cost		$ 0.2	$ 0.2
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.20%
Annual rate of increase in the per-capita cost	6.50%
Rate decreased to	5.00%
Defined Benefit Plan Assumptions Used Calculating Benefit Obligation Annual Rate Decrease In Per Capita Cost By Year Ended	2,022

Retirement and Other Benefit 75

Retirement and Other Benefit Programs (Pension Plan Assets) (Details) - Baxalta Incorporated [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 03, 2016
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations Range Variance	5.00%
Defined Benefit Plan, Fair Value of Plan Assets		$ 358.5
Cash and Cash Equivalents [Member]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	These largely consist of a short-term investment fund, U.S. dollars and foreign currency. The fair value of the short-term investment fund is based on the net asset value
US Treasury and Government [Member]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	Values are based on quoted prices in an active market
Corporate Bonds [Member]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	Values are based on the valuation date in an active market
Common Stock [Member]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	Values are based on the closing prices on the valuation date in an active market on national and international stock exchanges
Mutual Fund [Member]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	Values are based on the net asset value of the units held in the respective fund which are obtained from national and international exchanges
Real Estate Funds
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	Values are based on the net asset value of the units held at year end The value of these assets are either determined by the net asset value of the units held in the respective fund which are obtained from national and international exchanges or based on the net asset value of the underlying assets of the fund provided by the fund manager
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets	75.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target allocation for plan assets	25.00%
Other Holdings [Member] | Hedge Funds [Member]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs [Abstract]
Defined Benefit Plan, Plan Assets at Fair Value, Valuation Techniques and Inputs	The value of these assets vary by investment type and are primarily based on reputable pricing vendors that typically use pricing matrices or models
U.S. Pension
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 218	218
U.S. Pension | Equity Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	149.5
U.S. Pension | Equity Securities [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	10.7
U.S. Pension | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	4.4
U.S. Pension | Fixed Income Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	53.4
U.S. Pension | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	218
U.S. Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	149.5
U.S. Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	10.7
U.S. Pension | Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	4.4
U.S. Pension | Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	53.4
U.S. Pension | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
U.S. Pension | Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | Common/Collective Trust Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	140.5	$ 140.5
International Pension | Equity Securities [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	17.3
International Pension | Equity Securities [Member] | Common Stock Large Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	15.7
International Pension | Equity Securities [Member] | Common Stock Mid Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1.6
International Pension | Equity Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	21.5
International Pension | Equity Securities [Member] | Real Estate Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	10.2
International Pension | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9.7
International Pension | Fixed Income Securities [Member] | US Treasury and Government [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1.5
International Pension | Fixed Income Securities [Member] | Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	30.1
International Pension | Fixed Income Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	40.5
International Pension | Other Holdings [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9.7
International Pension | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	129.1
International Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	17.3
International Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Common Stock Large Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	15.7
International Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Common Stock Mid Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1.6
International Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	21.5
International Pension | Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | Real Estate Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	8.4
International Pension | Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9.7
International Pension | Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1.5
International Pension | Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	30.1
International Pension | Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	40.5
International Pension | Fair Value, Inputs, Level 1 [Member] | Other Holdings [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0.1
International Pension | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	11.4
International Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Common Stock Large Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Common Stock Mid Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Equity Securities [Member] | Real Estate Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1.8
International Pension | Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 2 [Member] | Other Holdings [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9.6
International Pension | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Common Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Common Stock Large Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Common Stock Mid Cap [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Real Estate Funds
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | US Treasury and Government [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | Corporate Bonds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities [Member] | Mutual Fund [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	0
International Pension | Fair Value, Inputs, Level 3 [Member] | Other Holdings [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 0

Retirement and Other Benefit 76

Retirement and Other Benefit Programs (Expected Pension and OPEB Plan Funding) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016	Jun. 03, 2016
OPEB
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation			$ 23.5
Baxalta Incorporated [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			358.5
Projected Benefit Obligation			$ 945.4
Defined Benefit Plan, Funded Percentage			38.00%
Baxalta Incorporated [Member] | U.S. Pension
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		$ 218	$ 218
Projected Benefit Obligation			441.6
Baxalta Incorporated [Member] | U.S. Pension | Qualified plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			218
Projected Benefit Obligation			$ 410.9
Defined Benefit Plan, Funded Percentage			53.00%
Baxalta Incorporated [Member] | U.S. Pension | Nonqualified plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation			$ 30.7
Baxalta Incorporated [Member] | International Pension
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Contributions in Current Fiscal Year	$ 1
Defined Benefit Plan, Fair Value of Plan Assets		$ 140.5	140.5
Projected Benefit Obligation			503.8
Baxalta Incorporated [Member] | International Pension | Funded plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			140.5
Projected Benefit Obligation			$ 324
Defined Benefit Plan, Funded Percentage			43.00%
Baxalta Incorporated [Member] | International Pension | Unfunded plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected Benefit Obligation			$ 179.8
Baxalta Incorporated [Member] | OPEB
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Net Cash Outflow in Current Fiscal Year	$ 4
Defined Benefit Plan, Fair Value of Plan Assets			$ 0

Accumulated Other Comprehensi77

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at January 1,	$ (183.8)
Net current period other comprehensive income/(loss)	(202)
As at June 30,	(385.8)
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)	(195.5)	(83.3)
As at June 30,	(377.6)	(109)
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)	(4.7)	3.3
As at June 30,	(6.4)	(2.5)
Hedging activities
Accumulated Other Comprehensive Income (Loss) [Line Items]
As at January 1,	0
Net current period other comprehensive income/(loss)	(1.8)	0
As at June 30,	(1.8)	0
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)	(202)	(80)
As at June 30,	$ (385.8)	$ (111.5)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Schedule of Calculation of Numerator and Denominator in Earnings Per Share
Income from continuing operations, net of taxes (in USD)	$ 86.6	$ 164.1	$ 496.1	$ 577
Loss from discontinued operations, net of taxes	(248.7)	(4.5)	(239.2)	(7)
Numerator for basic earnings per share	$ (162.1)	$ 159.6	$ 256.9	$ 570
Schedule of Weighted Average Number of Shares
Basic	682.8	590.5	637.3	589.8
Effect of dilutive shares:
Share based awards to employees (in shares)	0	2.7	2.8	3.2
Diluted (in shares)	682.8	593.2	640.1	593
Share Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	8.3	1	4.4	3.2

Taxation (Details)

Taxation (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Effective Income Tax Rate Reconciliation
Effective rate of tax	(427.00%)	(37.00%)	2.00%	2.00%

Segmental Reporting (Revenue by

Segmental Reporting (Revenue by Product) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenue from External Customer [Line Items]
Product sales	$ 2,322.1	$ 1,476.2	$ 3,949.4	$ 2,899.4
Royalty Revenue	107	81.4	189	146.6
Royalties and Other revenues			189	146.6
Total revenues	$ 2,429.1	$ 1,557.6	4,138.4	3,046
Other Royalties and Revenues [Member]
Revenue from External Customer [Line Items]
Royalties and Other revenues			56.8	49.1
SENSIPAR Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues			73.5	45.2
3TC and ZEFFIX Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues			27.1	18
FOSRENOL Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues			20.6	19.2
ADDERALL XR Royalties
Revenue from External Customer [Line Items]
Royalties and Other revenues			11	15.1
Genetic Diseases [Member]
Revenue from External Customer [Line Items]
Product sales			1,301.1	1,140.5
Genetic Diseases [Member] | ELAPRASE
Revenue from External Customer [Line Items]
Product sales			277.6	271.5
Genetic Diseases [Member] | FIRAZYR
Revenue from External Customer [Line Items]
Product sales			265	196.6
Genetic Diseases [Member] | REPLAGAL
Revenue from External Customer [Line Items]
Product sales			221.6	214.4
Genetic Diseases [Member] | VPRIV
Revenue from External Customer [Line Items]
Product sales			171.6	171.1
Genetic Diseases [Member] | CINRYZE
Revenue from External Customer [Line Items]
Product sales			337.2	286.9
Genetic Diseases [Member] | KALBITOR
Revenue from External Customer [Line Items]
Product sales			28.1	0
Neuroscience [Member]
Revenue from External Customer [Line Items]
Product sales			1,285.3	1,075.7
Neuroscience [Member] | VYVANSE
Revenue from External Customer [Line Items]
Product sales			1,026.9	841.6
Neuroscience [Member] | ADDERALL XR
Revenue from External Customer [Line Items]
Product sales			200.6	181.7
Neuroscience [Member] | Other Neuroscience [Member]
Revenue from External Customer [Line Items]
Product sales			57.8	52.4
Internal Medicine [Member]
Revenue from External Customer [Line Items]
Product sales			803.6	683.2
Internal Medicine [Member] | PENTASA
Revenue from External Customer [Line Items]
Product sales			136.9	145
Internal Medicine [Member] | GATTEX/REVESTIVE
Revenue from External Customer [Line Items]
Product sales			96.2	52.2
Internal Medicine [Member] | NATPARA
Revenue from External Customer [Line Items]
Product sales			35.5	5.9
Internal Medicine [Member] | Other Internal Medicine [Member]
Revenue from External Customer [Line Items]
Product sales			173.3	173.7
Internal Medicine [Member] | LIALDA/MEZAVANT
Revenue from External Customer [Line Items]
Product sales			361.7	306.4
Hematology [Member]
Revenue from External Customer [Line Items]
Product sales			349.6	0
Hematology [Member] | INHIBITOR THERAPIES [Member]
Revenue from External Customer [Line Items]
Product sales			74	0
Hematology [Member] | HEMOPHILIA
Revenue from External Customer [Line Items]
Product sales			275.6	0
Immunology [Member]
Revenue from External Customer [Line Items]
Product sales			189.5	0
Immunology [Member] | BIO THERAPEUTICS [Member]
Revenue from External Customer [Line Items]
Product sales			51.3	0
Immunology [Member] | IMMUNOGLOBULIN THERAPIES
Revenue from External Customer [Line Items]
Product sales			138.2	0
Oncology [Member]
Revenue from External Customer [Line Items]
Product sales			$ 20.3	$ 0

Commitments and Contingencies81

Commitments and Contingencies (Leases, and LC and Guarantees ) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Future Minimum Lease Payments under Operating Leases
2,016	$ 66.3		$ 66.3
2,017	102.3		102.3
2,018	83.3		83.3
2,019	71.3		71.3
2,020	70.5		70.5
2,021	67.7		67.7
Thereafter	299.2		299.2
Future minimum lease payments, total	760.6		760.6
Operating Leases, Rent Expense
Lease and rental expense	22.8	$ 10.1	30.3	$ 24.3
Letters of credit and guarantees
Irrevocable standby letters of credit and guarantees	$ 145		$ 145

Commitments and Contingencies82

Commitments and Contingencies (Commitments and Loss Contingency) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Clinical Testing
Commitment [Line Items]
Commitment amount		$ 1,008	$ 490
Contract Manufacturing
Commitment [Line Items]
Commitment amount		447	325
Commitments expected to be paid in next year	$ 213
Other Purchasing Commitment
Commitment [Line Items]
Commitment amount		2,153	485
Commitments expected to be paid in next year	$ 865
Investment Commitment
Commitment [Line Items]
Commitment amount		90	22
Capital Commitment
Commitment [Line Items]
Commitment amount		82	$ 60
Baxter related tax indemnification [Member]
Commitment [Line Items]
Deferred Tax Assets (Liabilities), Net		$ 37

Legal and other proceedings (De

Legal and other proceedings (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Legal Proceedings [Abstract]
Provisions for litigation loss, insurance claims and other disputes	$ 373.9	$ 9.9
Litigation Settlement, Amount	$ 350

Share-based Compensation Plan84

Share-based Compensation Plans (Share-based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 176.5	$ 28.9	$ 194.8	$ 44.3
Less tax	(41.5)	(7.9)	(46.3)	(12)
Share-based compensation expense, net	135	21	148.5	32.3
Baxalta Incorporated [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	146.3		146.3
Cost of Product Sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	4.5	1.9	7.6	4.7
Research and Development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	13.6	9.1	25.2	17.6
Selling, General and Administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	14.4	10.9	23.6	13.3
Integration and acquisition costs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	144	0	138.4	0
Reorganization costs
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 0	$ 7	$ 0	$ 8.7

Share-based Compensation Plan85

Share-based Compensation Plans (Replacement Awards Issued to Baxalta Employees) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		Jun. 03, 2016	Jun. 30, 2016
Baxalta Incorporated [Member]
Replacement Awards Issued to Baxalta Employees
Shares issued for acquisition, number of shares		305,200
Weighted average grant date fair value of awards granted (per share)		$ 79.31
Replacement Awards Issued, Stock Options [Member]
Replacement Awards Issued to Baxalta Employees
Weighted average exercise price of awards outstanding (per share)		$ 43.12
Replacement Awards Issued, Stock Options [Member] | Baxalta Incorporated [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Exercisable as at end of period Intrinsic Value (in GBP)		$ 117,453
Replacement Awards Issued to Baxalta Employees
Number of awards outstanding (in shares)	[1]	13,290
Number of awards exercisable (in shares)	[1]	5,691
Weighted average exercise price of awards exercisable (per share)		$ 40.72
Weighted average remaining contractual term, Issue and Outstanding		7 years 8 months 8 days
Weighted average remaining contractual term, exercisable		6 years 1 month 13 days
Intrinsic value of share-based awards, outstanding		$ 242,467
Intrinsic value of share-based awards, Exercisable		$ 117,453
Unrecognized compensation cost related to share based compensation awards			$ 69,400
Unrecognized compensation cost relating to non-vested in the money awards, expected period for recognition			1 year 6 months
Replacement Awards Issued, Stock Options [Member] | Baxalta and Baxter Combined
Replacement Awards Issued to Baxalta Employees
Shares issued for acquisition, number of shares		22,200
Replacement Awards Issued, Restricted Stock Units [Member] | Baxalta Incorporated [Member]
Replacement Awards Issued to Baxalta Employees
Number of awards outstanding (in shares)	[1]	3,285
Weighted average grant date fair value of awards granted (per share)	[2]	$ 49.55
Unrecognized compensation cost related to share based compensation awards			$ 96,800
Unrecognized compensation cost relating to non-vested in the money awards, expected period for recognition			2 years 1 month 6 days
Replacement Awards Issued, Restricted Stock Units [Member] | Baxalta and Baxter Combined
Replacement Awards Issued to Baxalta Employees
Shares issued for acquisition, number of shares		3,900
[1]	Number of awards are stated in terms of ordinary share equivalents
[2]	Reflects the pro rata portion representing future compensation as of June 3, 2016

Share-based Compensation Plan86

Share-based Compensation Plans (Fair Value Assumptions) (Details) - Baxalta Incorporated [Member]	Jun. 03, 2016$ / shares
Fair Value Assumptions and Methodology
Risk-free interest rate	1.20%
Expected dividend yield	0.35%
Expected life	3 years 10 months 24 days
Volatility rate	29.10%
Fair Value per Option	$ 79.31

Related parties (Details)

Related parties (Details) - ArmaGen - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Related Party Transaction [Line Items]
Share of R&D credit recorded within R&D expense	$ 1.2	$ 5.5	$ 1.7	$ 5.9
Related parties, acrrued liabilities	$ 0.3	$ 5.4	$ 0.3	$ 5.4
Percentage of equity stake	21.00%		21.00%

Agreements and Transactions wit

Agreements and Transactions with Baxter (Additional Information) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Agreements and Transactions by Party [Line Items]
Selling, General and Administrative Expense	$ 675.3	$ 496	$ 1,150.2	$ 914.3
Current tax related indemnification liabilities	138		138
Longterm tax related indemnification liabilities	95		95
Inventories	5,798.7		5,798.7		$ 635.4
Prepaid expenses and other current assets	733.6		733.6		197.4
Other current liabilities	411.5		411.5		144
Other non-current liabilities	2,736.8		2,736.8		$ 798.8
Prepaid expenses and other current assets related indemnification liabilities	278		278
Other non current assets	34		34
Operations Not Yet Transferred to Baxalta [Member]
Agreements and Transactions by Party [Line Items]
Sales Revenue Net	22		22
Inventories	26		26
Prepaid expenses and other current assets	68		68
Other current liabilities	4		4
Manufacturing and Supply Agreement with Baxter [Member]
Agreements and Transactions by Party [Line Items]
Sales Revenue Net	16		16
Transition Service Agreement with Baxter [Member]
Agreements and Transactions by Party [Line Items]
Selling, General and Administrative Expense	$ 8		$ 8

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Jul. 02, 2016USD ($)
Subsequent Event [Member] | License Agreement with Pfizer Inc [Member]
Subsequent Event [Line Items]
Collaborative Arrangement, Upfront Payment	$ 90

Guarantor Financial Informati90

Guarantor Financial Information (Senior Notes) (Details) - Senior Notes [Member]	Jun. 03, 2016
Senior Notes, 2.0 % due 2018 [Member]
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	2.00%
Senior Notes, 2.875% due 2020 [Member]
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	2.875%
Senior Notes, 3.6 Percent due 2022 [Member]
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	3.60%
Senior Notes, 4.0% due 2025 [Member]
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	4.00%
Senior Notes, 5.25% due 2045 [Member]
Debt Instrument [Line Items]
Debt Interest Rate (Stated Rate)	5.25%

Guarantor Financial Informati91

Guarantor Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 693.4	$ 135.5	$ 64	$ 2,982.4
Restricted cash	20	86
Accounts receivable, net	2,412.4	1,201.2
Inventories	5,798.7	635.4
Prepaid expenses and other current assets	733.6	197.4
Total current assets	9,658.1	2,255.5
Non-current assets:
Investments	174	50.8
Property, plant and equipment, net	6,596.3	828.1
Intangible assets, net	40,890.3	9,173.3	9,310.4	4,934.4
Goodwill	12,962.4	4,147.8	4,173.3	2,474.9
Deferred tax asset	129.6	121
Other non-current assets	309.8	33.3
Total assets	70,720.5	16,609.8
Current liabilities:
Short-term borrowings	2,715.2	1,511.5
Other current liabilities	411.5	144
Total current liabilities	6,854.8	3,706.1
Non-current liabilities
Long-term borrowings	21,312.1	69.9
Deferred tax liability	10,053.8	2,205.9
Other non-current liabilities	2,736.8	798.8
Total liabilities	40,957.5	6,780.7
Equity:
Total equity	29,763	9,829.1
Total liabilities and equity	70,720.5	16,609.8
Consolidation, Eliminations [Member]
Current assets:
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable, net	(19.6)	0
Inventories	0	0
Prepaid expenses and other current assets	0	0
Intercompany Receivable, Current	(5,918.8)	(3,145.3)
Total current assets	(5,938.4)	(3,145.3)
Non-current assets:
Investments	(85,010.9)	(14,477.2)
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Other non-current assets	(209)	0
Total assets	(91,158.3)	(17,622.5)
Current liabilities:
Accounts payable and accrued expenses	(19.9)	0
Short-term borrowings	0	0
Intercompany Payables, Current	(5,918.5)	(3,145.3)
Other current liabilities	0	0
Total current liabilities	(5,938.4)	(3,145.3)
Non-current liabilities
Long-term borrowings	0	0
Deferred tax liability		0
Other non-current liabilities	(10)	0
Total liabilities	(6,147.4)	(3,145.3)
Equity:
Total equity	(85,010.9)	(14,477.2)
Total liabilities and equity	(91,158.3)	(17,622.5)
Consolidated
Current assets:
Cash and cash equivalents	693.4	135.5	64	2,982.4
Restricted cash	20	86
Accounts receivable, net	2,412.4	1,201.2
Inventories	5,798.7	635.4
Prepaid expenses and other current assets	733.6	197.4
Intercompany Receivable, Current	0	0
Total current assets	9,658.1	2,255.5
Non-current assets:
Investments	174	50.8
Property, plant and equipment, net	6,596.3	828.1
Intangible assets, net	40,890.3	9,173.3
Goodwill	12,962.4	4,147.8
Other non-current assets	439.4	154.3
Total assets	70,720.5	16,609.8
Current liabilities:
Accounts payable and accrued expenses	3,728.1	2,050.6
Short-term borrowings	2,715.2	1,511.5
Intercompany Payables, Current	0	0
Other current liabilities	411.5	144
Total current liabilities	6,854.8	3,706.1
Non-current liabilities
Long-term borrowings	21,312.1	69.9
Deferred tax liability	10,053.8	2,205.9
Other non-current liabilities	2,736.8	798.8
Total liabilities	40,957.5	6,780.7
Equity:
Total equity	29,763	9,829.1
Total liabilities and equity	70,720.5	16,609.8
Parent Company [Member]
Current assets:
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable, net	0	0
Inventories	0	0
Prepaid expenses and other current assets	1.8	(6.5)
Intercompany Receivable, Current	0	0
Total current assets	1.8	(6.5)
Non-current assets:
Investments	36,404.6	14,477.2
Property, plant and equipment, net	0	0
Intangible assets, net	0	0
Goodwill	0	0
Other non-current assets	4.6	13.7
Total assets	36,411	14,484.4
Current liabilities:
Accounts payable and accrued expenses	66	10
Short-term borrowings	905	1,500
Intercompany Payables, Current	5,270.5	3,145.3
Other current liabilities	(0.1)	0
Total current liabilities	6,241.4	4,655.3
Non-current liabilities
Long-term borrowings	0	0
Deferred tax liability	0	0
Other non-current liabilities	406.6	0
Total liabilities	6,648	4,655.3
Equity:
Total equity	29,763	9,829.1
Total liabilities and equity	36,411	14,484.4
Subsidiary Issuer [Member]
Current assets:
Cash and cash equivalents	53.4	0	0	0
Restricted cash	0	0
Accounts receivable, net	0	0
Inventories	0	0
Prepaid expenses and other current assets	7.8	0
Intercompany Receivable, Current	631.9	0
Total current assets	693.1	0
Non-current assets:
Investments	36,234.8	0
Property, plant and equipment, net	18.5	0
Intangible assets, net	0	0
Goodwill	0	0
Other non-current assets	368.4	0
Total assets	37,314.8	0
Current liabilities:
Accounts payable and accrued expenses	131.5	0
Short-term borrowings	0	0
Intercompany Payables, Current	16.1	0
Other current liabilities	28.7	0
Total current liabilities	176.3	0
Non-current liabilities
Long-term borrowings	5,114.7	0
Deferred tax liability	0	0
Other non-current liabilities	79.5	0
Total liabilities	5,370.5	0
Equity:
Total equity	31,944.3	0
Total liabilities and equity	37,314.8	0
Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents	640	135.5	$ 64	$ 2,982.4
Restricted cash	20	86
Accounts receivable, net	2,432	1,201.2
Inventories	5,798.7	635.4
Prepaid expenses and other current assets	724	203.9
Intercompany Receivable, Current	5,286.9	3,145.3
Total current assets	14,901.6	5,407.3
Non-current assets:
Investments	12,545.5	50.8
Property, plant and equipment, net	6,577.8	828.1
Intangible assets, net	40,890.3	9,173.3
Goodwill	12,962.4	4,147.8
Other non-current assets	275.4	140.6
Total assets	88,153	19,747.9
Current liabilities:
Accounts payable and accrued expenses	3,550.5	2,040.6
Short-term borrowings	1,810.2	11.5
Intercompany Payables, Current	631.9	0
Other current liabilities	382.9	144
Total current liabilities	6,375.5	2,196.1
Non-current liabilities
Long-term borrowings	16,197.4	69.9
Deferred tax liability	10,252.8	2,205.9
Other non-current liabilities	2,260.7	798.8
Total liabilities	35,086.4	5,270.7
Equity:
Total equity	53,066.6	14,477.2
Total liabilities and equity	88,153	19,747.9
Non-Guarantor Subsidiaries [Member] | Consolidation, Eliminations [Member]
Current assets:
Cash and cash equivalents		$ 0
Non-current liabilities
Deferred tax liability	$ (199)

Guarantor Financial Informati92

Guarantor Financial Information (Consolidating Statements of Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues [Abstract]
Product sales	$ 2,322.1	$ 1,476.2	$ 3,949.4	$ 2,899.4
Royalties and other revenues	107	81.4	189	146.6
Total revenues	2,429.1	1,557.6	4,138.4	3,046
Costs and Expenses [Abstract]
Cost of sales	778.1	228	1,026.7	455.8
Research and Development Expense	294.8	775.9	511.9	969.6
Selling, general and administrative	675.3	496	1,150.2	914.3
Gain on sale of product rights	(2.3)	(7.1)	(6.5)	(12.3)
Reorganization costs	11	13.3	14.3	28.5
Integration and acquisition costs	363	(212.4)	454.1	(136.7)
Amortization of acquired intangibles	213	131.3	347.6	219.6
Total operating expenses	2,332.9	1,425	3,498.3	2,438.8
Operating income/(loss) from continuing operations	96.2	132.6	640.1	607.2
Interest expense	(87.2)	(11.3)	(131.9)	(20.9)
Other (expense)/income, net	6	(2)	(2.5)	2.3
Total other (expense)/income, net	(79.6)	(12.7)	(131.8)	(16)
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees	16.6	119.9	508.3	591.2
Income taxes benefit / (charge)	70.9	44.1	(11.2)	(13.3)
Equity in income/(losses) of equity method investees	0.9	(0.1)	1	0.9
Income/(loss) from continuing operations, net of taxes	86.6	164.1	496.1	577
(Loss)/gain from discontinued operations, net of taxes	(248.7)	(4.5)	(239.2)	(7)
Net (loss)/income	(162.1)	159.6	256.9	570
Comprehensive (loss)/income	(388.5)	208.4	54.9	490
Consolidation, Eliminations [Member]
Revenues [Abstract]
Product sales	0	0	0	0
Royalties and other revenues	0	0	0	0
Total revenues		0	0	0
Costs and Expenses [Abstract]
Cost of sales		0	0	0
Research and Development Expense		0	0	0
Selling, general and administrative	(4.6)	0.4	0	0.7
Integration and acquisition costs		0	0	0
Amortization of acquired intangibles	0			0
Other operating expenses		0	0	0
Total operating expenses	(4.6)	0.4	0	0.7
Operating income/(loss) from continuing operations	4.6	(0.4)	0	(0.7)
Interest expense		0	0	0
Other (expense)/income, net		0	0	0
Total other (expense)/income, net		0	0	0
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees		(0.4)	0	(0.7)
Income taxes benefit / (charge)		0	0	0
Equity in income/(losses) of equity method investees	249.7	182.8	202.9	610.7
Income/(loss) from continuing operations, net of taxes		(183.2)	(202.9)	(611.4)
(Loss)/gain from discontinued operations, net of taxes		0	0	0
Net (loss)/income		(183.2)	(202.9)	(611.4)
Comprehensive (loss)/income	480.7	(232)	(0.9)	(531.4)
Consolidated
Revenues [Abstract]
Product sales	2,322.1	1,476.2	3,949.4	2,899.4
Royalties and other revenues	107	81.4	189	146.6
Total revenues	2,429.1	1,557.6	4,138.4	3,046
Costs and Expenses [Abstract]
Cost of sales	778.1	228	1,026.7	455.8
Research and Development Expense	294.8	775.9	511.9	969.6
Selling, general and administrative	675.3	496	1,150.2	914.3
Integration and acquisition costs	363	(212.4)	454.1	(136.7)
Amortization of acquired intangibles	213			219.6
Other operating expenses	8.7	6.2	7.8	16.2
Total operating expenses	2,332.9	1,425	3,498.3	2,438.8
Operating income/(loss) from continuing operations	96.2	132.6	640.1	607.2
Interest expense	(85.6)	(10.7)	(129.3)	(18.3)
Other (expense)/income, net	6	(2)	(2.5)	2.3
Total other (expense)/income, net	(79.6)	(12.7)	(131.8)	(16)
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees	16.6	119.9	508.3	591.2
Income taxes benefit / (charge)	70.9	(44.1)	11.2	13.3
Equity in income/(losses) of equity method investees	(0.9)	(0.1)	1	0.9
Income/(loss) from continuing operations, net of taxes	86.6	164.1	496.1	577
(Loss)/gain from discontinued operations, net of taxes	(248.7)	(4.5)	(239.2)	(7)
Net (loss)/income	(162.1)	159.6	256.9	570
Comprehensive (loss)/income	(388.5)	208.4	54.9	490
Parent Company [Member]
Revenues [Abstract]
Product sales	0	0	0	0
Royalties and other revenues	0	0	0	0
Total revenues	0	0	0	0
Costs and Expenses [Abstract]
Cost of sales	0	0	0	0
Research and Development Expense	0	0	0	0
Selling, general and administrative	23.4	7.4	35.8	12.8
Integration and acquisition costs	0	0	0	0
Amortization of acquired intangibles	0	0	0	0
Other operating expenses	0	0	0	0
Total operating expenses	23.4	7.4	35.8	12.8
Operating income/(loss) from continuing operations	(23.4)	(7.4)	(35.8)	(12.8)
Interest expense	(22.6)	(16.4)	(44.5)	(30.4)
Other (expense)/income, net	1.2	(0.2)	0.9	1.2
Total other (expense)/income, net	(21.4)	(16.6)	(43.6)	(29.2)
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees	(44.8)	(24)	(79.4)	(42)
Income taxes benefit / (charge)	0.9	(0.8)	(1.9)	(1.3)
Equity in income/(losses) of equity method investees	(118.2)	(182.8)	(334.4)	(610.7)
Income/(loss) from continuing operations, net of taxes	(162.1)	159.6	256.9	570
(Loss)/gain from discontinued operations, net of taxes	0	0	0	0
Net (loss)/income	(162.1)	159.6	256.9	570
Comprehensive (loss)/income	(388.5)	208.4	54.9	490
Parent Company [Member] | Consolidation, Eliminations [Member]
Revenues [Abstract]
Total revenues	0
Costs and Expenses [Abstract]
Cost of sales	0
Research and Development Expense	0
Integration and acquisition costs	0
Amortization of acquired intangibles			0
Other operating expenses	0
Interest expense	0
Other (expense)/income, net	0
Total other (expense)/income, net	0
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees	4.6
Income taxes benefit / (charge)	0
Income/(loss) from continuing operations, net of taxes	254.3
(Loss)/gain from discontinued operations, net of taxes	0
Net (loss)/income	254.3
Parent Company [Member] | Consolidated
Costs and Expenses [Abstract]
Amortization of acquired intangibles			347.6
Subsidiary Issuer [Member]
Revenues [Abstract]
Product sales	0	0	0	0
Royalties and other revenues	0	0	0	0
Total revenues	0	0	0	0
Costs and Expenses [Abstract]
Cost of sales	5.6		5.6	0
Research and Development Expense	1		1	0
Selling, general and administrative	97.2	0	97.2	0
Integration and acquisition costs	114.9		114.9	0
Amortization of acquired intangibles	0	0	0	0
Other operating expenses	0	0	0	0
Total operating expenses	218.7	0	218.7	0
Operating income/(loss) from continuing operations	(218.7)	0	(218.7)	0
Interest expense	(5.7)	0	(5.7)	0
Other (expense)/income, net	7.7	0	7.7	0
Total other (expense)/income, net	2	0	2	0
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees	(216.7)	0	(216.7)	0
Income taxes benefit / (charge)	58.8	0	(58.8)	0
Equity in income/(losses) of equity method investees	(131.5)	0	131.5	0
Income/(loss) from continuing operations, net of taxes	(289.4)	0	(289.4)	0
(Loss)/gain from discontinued operations, net of taxes		0	0	0
Net (loss)/income	(289.4)	0	(289.4)	0
Comprehensive (loss)/income	(291.2)	0	(291.2)	0
Subsidiary Issuer [Member] | Consolidation, Eliminations [Member]
Costs and Expenses [Abstract]
Amortization of acquired intangibles		0
Subsidiary Issuer [Member] | Consolidated
Costs and Expenses [Abstract]
Amortization of acquired intangibles		131.3
Non-Guarantor Subsidiaries [Member]
Revenues [Abstract]
Product sales	2,322.1	1,476.2	3,949.4	2,899.4
Royalties and other revenues	107	81.4	189	146.6
Total revenues	2,429.1	1,557.6	4,138.4	3,046
Costs and Expenses [Abstract]
Cost of sales	772.5	228	1,021.1	455.8
Research and Development Expense	293.8	775.9	510.9	969.6
Selling, general and administrative	559.3	488.2	1,017.2	900.8
Integration and acquisition costs	248.1	(212.4)	339.2	(136.7)
Amortization of acquired intangibles	213	131.3	347.6	219.6
Other operating expenses	8.7	6.2	7.8	16.2
Total operating expenses	2,095.4	1,417.2	3,243.8	2,425.3
Operating income/(loss) from continuing operations	333.7	140.4	894.6	620.7
Interest expense	(57.3)	5.7	(79.1)	12.1
Other (expense)/income, net	(2.9)	(1.8)	(11.1)	1.1
Total other (expense)/income, net	(60.2)	3.9	(90.2)	13.2
Income/(loss) from continuing operations before income taxes and equity in earnings/(losses) of equity method investees	273.5	144.3	804.4	633.9
Income taxes benefit / (charge)	11.2	(43.3)	71.9	14.6
Equity in income/(losses) of equity method investees	(0.9)	(0.1)	1	0.9
Income/(loss) from continuing operations, net of taxes	283.8	187.7	731.5	618.4
(Loss)/gain from discontinued operations, net of taxes	(248.7)	(4.5)	(239.2)	(7)
Net (loss)/income	35.1	183.2	492.3	611.4
Comprehensive (loss)/income	$ (189.5)	$ 232	$ 292.1	$ 531.4

Guarantor Financial Informati93

Guarantor Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Cash Provided by (Used in) Operating Activities	$ 980.4	$ 1,013.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Movements in restricted cash	67.2	(19.5)
Purchases of businesses, net of cash acquired	(17,476.2)	(5,249.2)
Purchases of non-current investments and PP&E	(179.1)	(44.7)
Proceeds from short-term investments	0	67
Proceeds from sale of product rights	5.6	8.8
Proceeds from disposal of non-current investments	0	4.4
Other, net	(2.3)	(0.9)
Net Cash Provided by (Used in) Investing Activities	(17,584.8)	(5,234.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	18,895	2,925.6
Repayment of lines of credit	(1,500.3)	(1,530.9)
Payment of dividend	(130.2)	(110.2)
Excess tax benefit associated with exercise of stock options	5.1	27
Debt issuance costs	(112.3)	(3.7)
Contingent consideration payments	(4.2)	(4.5)
Proceeds from (Payments for) Other Financing Activities	11.1	(0.8)
Net cash provided by financing activities	17,164.2	1,302.5
Effect of foreign exchange rate changes on cash and cash equivalents	(1.9)	(0.7)
Cash and Cash Equivalents, Period Increase (Decrease)	557.9	(2,918.4)
Cash and cash equivalents at beginning of period	135.5	2,982.4
Cash and cash equivalents at end of period	693.4	64
Consolidation, Eliminations [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Cash Provided by (Used in) Operating Activities	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Net transactions with subsidiaries	23,525.6	5,915.1
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired	0	0
Purchases of non-current investments and PP&E	0	0
Proceeds from sale of product rights	0	0
Proceeds from disposal of non-current investments		0
Other, net	0	0
Net Cash Provided by (Used in) Investing Activities	23,525.6	5,915.1
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	0	0
Repayment of lines of credit	0	0
Net proceeds from/(to) intercompany borrowings	(23,525.6)	(5,915.1)
Payment of dividend	0	0
Excess tax benefit associated with exercise of stock options	0	0
Debt issuance costs	0
Contingent consideration payments	0	0
Proceeds from (Payments for) Other Financing Activities	0	0
Net cash provided by financing activities	(23,525.6)	(5,915.1)
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Cash and Cash Equivalents, Period Increase (Decrease)	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Cash Provided by (Used in) Operating Activities	980.4	1,013.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Net transactions with subsidiaries	0	0
Movements in restricted cash	67.2	19.5
Purchases of businesses, net of cash acquired	17,476.2	5,249.2
Purchases of non-current investments and PP&E	179.1	44.7
Proceeds from sale of product rights	5.6	8.8
Proceeds from disposal of non-current investments		4.4
Other, net	2.3	0.9
Net Cash Provided by (Used in) Investing Activities	(17,584.8)	(5,234.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	18,895	2,925.6
Repayment of lines of credit	1,500.3	1,530.9
Net proceeds from/(to) intercompany borrowings	0	0
Payment of dividend	130.2	110.2
Excess tax benefit associated with exercise of stock options	5.1	27
Debt issuance costs	112.3
Contingent consideration payments	4.2	4.5
Proceeds from (Payments for) Other Financing Activities	11.1	(4.5)
Net cash provided by financing activities	17,164.2	1,302.5
Effect of foreign exchange rate changes on cash and cash equivalents	(1.9)	(0.7)
Cash and Cash Equivalents, Period Increase (Decrease)	557.9	(2,918.4)
Cash and cash equivalents at beginning of period	135.5	2,982.4
Cash and cash equivalents at end of period	693.4	64
Parent Company [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Cash Provided by (Used in) Operating Activities	(13.8)	(85)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net transactions with subsidiaries	(1,900)	(3,570)
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired	19,049	0
Purchases of non-current investments and PP&E	0	0
Proceeds from short-term investments		0
Proceeds from sale of product rights	0	0
Proceeds from disposal of non-current investments		0
Other, net	0	0
Net Cash Provided by (Used in) Investing Activities	(20,949)	(3,570)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	905	2,850
Repayment of lines of credit	1,500	1,530
Net proceeds from/(to) intercompany borrowings	21,572.2	2,345.1
Payment of dividend	14.4	5.6
Excess tax benefit associated with exercise of stock options	0	0
Debt issuance costs	0
Contingent consideration payments	0	0
Proceeds from (Payments for) Other Financing Activities	0	(4.5)
Net cash provided by financing activities	20,962.8	3,655
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Cash and Cash Equivalents, Period Increase (Decrease)	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent Company [Member] | Consolidation, Eliminations [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from short-term investments		0
Parent Company [Member] | Consolidated
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from short-term investments		67
Subsidiary Issuer [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Cash Provided by (Used in) Operating Activities	1.6	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Net transactions with subsidiaries	0	0
Movements in restricted cash	0	0
Purchases of businesses, net of cash acquired	0	0
Purchases of non-current investments and PP&E	1.9	0
Proceeds from short-term investments		0
Proceeds from sale of product rights	0	0
Other, net	0	0
Net Cash Provided by (Used in) Investing Activities	(1.9)	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	0	0
Repayment of lines of credit	0	0
Net proceeds from/(to) intercompany borrowings	53.4	0
Payment of dividend	0	0
Excess tax benefit associated with exercise of stock options	0	0
Debt issuance costs	0
Contingent consideration payments	0	0
Proceeds from (Payments for) Other Financing Activities	0.3	0
Net cash provided by financing activities	53.7	0
Effect of foreign exchange rate changes on cash and cash equivalents	0	0
Cash and Cash Equivalents, Period Increase (Decrease)	53.4	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	53.4	0
Non-Guarantor Subsidiaries [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Cash Provided by (Used in) Operating Activities	992.6	1,098.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Net transactions with subsidiaries	(21,625.6)	(2,345.1)
Movements in restricted cash	67.2	19.5
Purchases of businesses, net of cash acquired	(1,572.8)	5,249.2
Purchases of non-current investments and PP&E	177.2	44.7
Proceeds from short-term investments		67
Proceeds from sale of product rights	5.6	8.8
Proceeds from disposal of non-current investments		4.4
Other, net	2.3	0.9
Net Cash Provided by (Used in) Investing Activities	(20,159.5)	(7,579.2)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving line of credit, long term and short term borrowings	17,990	75.6
Repayment of lines of credit	0.3	0.9
Net proceeds from/(to) intercompany borrowings	1,900	3,570
Payment of dividend	115.8	104.6
Excess tax benefit associated with exercise of stock options	5.1	27
Debt issuance costs	112.3
Contingent consideration payments	4.2	4.5
Proceeds from (Payments for) Other Financing Activities	10.8	0
Net cash provided by financing activities	19,673.3	3,562.6
Effect of foreign exchange rate changes on cash and cash equivalents	(1.9)	(0.7)
Cash and Cash Equivalents, Period Increase (Decrease)	504.5	(2,918.4)
Cash and cash equivalents at beginning of period	135.5	2,982.4
Cash and cash equivalents at end of period	640	$ 64
Non-Guarantor Subsidiaries [Member] | Consolidation, Eliminations [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash and cash equivalents at beginning of period	$ 0

Taxation (Effective Income Tax

Taxation (Effective Income Tax Rate Reconciliation, and Statutory Tax Rates) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other permanent differences:
Provision for income taxes on continuing operations	(427.00%)	(37.00%)	2.00%	2.00%