Shire share price: Pharmco names Sulzer’s Thomas Dittrich as CFO

New finance chief to assume role early next year

Shire share price: Pharmco names Sulzer’s Thomas Dittrich as CFO

Shire (LON:SHP) has named Sulzer’s chief financial officer as its new finance chief, the blue-chip pharmco has said. The move comes after Jeff Poulton unveiled plans earlier this year to leave the rare disease specialist for a Boston-based start-up.

Shire’s share price has been subdued in today’s session, following upbeat haemophilia drug trial results at rival Roche. As of 14:06 GMT, the pharmco’s shares were changing hands 1.52 percent in the red at 3,622.50p, underperforming the benchmark FTSE 100 index, which us currently 0.14 percent better off at 7,391.21 points.

Shire appoints CFO

Shire announced in a statement today that Thomas Dittrich will join the company as chief financial officer early next year. He is currently chief financial officer at engineering and manufacturing group Sulzer, while his previous roles include Vice President, Finance Corporate Planning and Chief Accounting Officer at Amgen, as well as various finance and general manager roles at Dell.

“Thomas is a talented global executive who will bring to Shire a broad range of experiences from both inside and outside the pharmaceutical industry,” the FTSE group’s chair Susan Kilsby commented in the statement. “The Board and I look forward to working with him during this transformational time in the Company’s history.”

Dittrich’s appointment comes as Shire continues to review its neuroscience franchise, with an update planned for the end of the year.

Analysts on Shire

Both Liberum Capital and Deutsche Bank reaffirmed Shire as a ‘buy’ today, valuing the shares at 4,200p and 5,500p, respectively. According to MarketBeat, the FTSE 100 group currently has a consensus ‘buy’ rating and an average price target of 5,470p.

Shire posted its third-quarter results last month, reporting a rise revenues and profits, while also revealing that it had suffered generic competition to its ulcerative colitis treatment Lialda. 

As of 14:48 GMT, Monday, 20 November, Shire PLC share price is 3,553.50p.

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