Shire Pharmaceuticals Moving 500+ Jobs to Lexington

The greater Lexington economy is getting a giant boost as Shire Pharmaceuticals. an international drug company, announced Thursday it will move more than high-paying 500 jobs to its Lexington campus.

The jobs are currently based in Chesterbrook, Pennsylvania, which has served as the company’s U.S. headquarters. The Lexington facility will be the new headquarters.

Shire said the first employees will move to Lexington in the first quarter of 2015. The rest will move over the course of the year. The company said employees who choose not to relocate will be offered severance packages and other assistance. Shire is currently hiring for more than a dozen positions in Lexington.

When the move is completed, Shire will have more than 1,800 workers in Lexington, according to the Boston Globe.

“Chesterbrook, the greater Philadelphia area, and the talent of our employees based there have been instrumental to Shire’s growth and evolution,” said company CEO Flemming Ornskov in a statement. “We’ve made the decision to consolidate our U.S. operations in the Massachusetts area to streamline operations and drive further efficiencies in the way we run our business and serve patients. Shire has a great opportunity to combine our Chesterbrook and Lexington talent with the leading biotech resources in the Massachusetts area, and we consider ready access to these resources an important element in the future growth of our company.”

Shire said the move will save the company $25 million a year.

Shire produces drugs to treat rare ailments like Hunter syndrome and Fabry disease.