In January 2016, we announced that Shire entered into an agreement to combine with Baxalta. This proposed combination allows us to realize the vision of building a leading biotechnology company focused on developing treatments for rare diseases and specialty conditions. Together, our expanded portfolio of products and services; expertise in R&D, commercial, and manufacturing operations; and global scale and infrastructure will enhance our ability to serve patients, physicians, and other stakeholders. The combined organization will build a sustainable platform to accelerate future innovation and growth, delivering therapies that enable people with life-altering conditions to lead better lives.

Integration planning is underway and proceeding well. At Shire, we are seasoned acquirers, extremely skilled at integrating rare disease assets and organizations, and we are working closely with Baxalta to ensure a seamless integration.

Ultimately, placing patients at the core of everything we do is fundamental to both the Shire and Baxalta cultures. This mission is, and will remain, at the heart of the combined organization.

Our combined portfolio will include more than 20 global brands and a robust pipeline of over 60 development programs, with 50 of those in rare diseases. These programs span both new and expanded therapeutic areas such as Hematology, Immunology, Neuroscience, Lysosomal Storage Diseases/Hereditary Angioedema, and Gastrointestinal / Endocrine. We are also developing innovative treatments in Ophthalmics and Oncology. We anticipate close to 30 products from our combined pipeline will launch by 2020. Our expanded portfolio and presence in more than 100 countries will drive our growth to more than $20 billion in anticipated annual revenues by 2020.

As a combined company, we look forward to building on the drivers that have propelled both Shire and Baxalta, namely a laser focus on growth and innovation that is only possible through the dedication of our employees and our ongoing commitment to patients and their families.