Business Combinations (Tables)

6 Months Ended

Jun. 30, 2017

The fair value of the purchase price consideration consisted of the following:



(In millions)	Fair value
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	508.8
Contingent consideration payable	165.0
Total purchase price consideration	$	32,393.7

Baxalta

Business Acquisition [Line Items]

Schedule of Purchase Price Allocation

The Company's allocation of the purchase price to the assets acquired and liabilities assumed as of the acquisition date, including measurement period adjustments, is outlined below.



(In millions)	Preliminary value as of acquisition date (as previously reported as of December 31, 2016)		Measurement period adjustments			Values as of June 30, 2017
ASSETS
Current assets:
Cash and cash equivalents	$	583.2	$	—		$	583.2
Accounts receivable	1,069.7		(96.4		)	973.3
Inventories	3,893.4		81.2			3,974.6
Other current assets	576.0		5.3			581.3
Total current assets	6,122.3		(9.9		)	6,112.4
Property, plant and equipment	5,452.7		(46.5		)	5,406.2
Investments	128.2		—			128.2
Goodwill	11,422.4		1,076.2			12,498.6
Intangible assets
Currently marketed products	21,995.0		(830.0		)	21,165.0
In-Process Research and Development ("IPR&D")	730.0		(570.0		)	160.0
Contract based arrangements	42.2		—			42.2
Other non-current assets	155.0		69.7			224.7
Total assets	$	46,047.8	$	(310.5	)	$	45,737.3
LIABILITIES
Current liabilities:
Accounts payable and accrued expenses	$	1,321.9	$	(2.7	)	$	1,319.2
Other current liabilities	354.4		9.0			363.4
Long term borrowings and capital leases	5,424.9		—			5,424.9
Deferred tax liability	5,445.3		(315.0		)	5,130.3
Other non-current liabilities	1,103.6		2.2			1,105.8
Total liabilities	$	13,650.1	$	(306.5	)	$	13,343.6

Fair value of identifiable assets acquired and liabilities assumed	$	32,397.7	$	(4.0	)	$	32,393.7

Consideration
Fair value of purchase consideration	$	32,397.7	$	(4.0	)	$	32,393.7

Business Acquisition, Pro Forma Information

The following unaudited pro forma financial information presents the combined results of the operations of Shire and Baxalta as if the acquisition of Baxalta had occurred as of January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the respective acquisitions been completed on January 1, 2015. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company.



	Three months ended June 30,		Six months ended June 30,
(In millions, except per share amounts)	2016		2016
Revenues	$	3,484.1	$	6,741.4
Net income from continuing operations	621.3		923.9
Per share amounts:
Net income from continuing operations per share - basic	$	0.70	$	1.04
Net income from continuing operations per share - diluted	$	0.70	$	1.04

Dyax

Business Acquisition [Line Items]

Schedule of Purchase Price Allocation

The allocation of the total purchase price is outlined below.



(In millions)	Fair value
ASSETS
Current assets:
Cash and cash equivalents	$	241.2
Accounts receivable	22.5
Inventories	20.2
Other current assets	8.1
Total current assets	292.0
Property, plant and equipment	5.8
Goodwill	2,702.1
Intangible assets
Currently marketed projects	135.0
IPR&D	4,100.0
Contract based royalty arrangements	425.0
Other non-current assets	28.6
Total assets	$	7,688.5
LIABILITIES
Current liabilities:
Accounts payable and accrued expenses	$	30.0
Other current liabilities	1.7
Deferred tax liability	1,325.4
Other non-current liabilities	1.4
Total liabilities	$	1,358.5

Fair value of identifiable assets acquired and liabilities assumed	$	6,330.0

Consideration
Fair value of purchase consideration	$	6,330.0

Business Acquisition, Pro Forma Information

The following unaudited pro forma financial information presents the combined results of the operations of Shire and Dyax as if the acquisitions of Dyax had occurred as of January 1, 2015. The unaudited pro forma financial information is not necessarily indicative of what the consolidated results of operations actually would have been had the respective acquisitions been completed at the date indicated. In addition, the unaudited pro forma financial information does not purport to project the future results of operations of the combined Company.



	Six months ended June 30,
(In millions, except per share amounts)	2016
Revenues	$	4,144.3
Net income from continuing operations	490.2
Per share amounts:
Net income from continuing operations per share - basic	$	0.77
Net income from continuing operations per share - diluted	$	0.77