Ornskov will lead the combined company's rare-disease unit from Switzerland, reporting to Gonzalez. "Flemming is committed to staying post-close, as he would go through the integration process. I've had a number of discussions with him, he's excited about role he'll play with the new company."
Flemming will also receive $9.9 million as part of a retention arrangement for senior Shire employees, amounting to about 150 percent of his annual total compensation. Two Shire directors, Chairwoman Susan Kilsby and Dominic Blakemore, will join the AbbVie board.
The tax move is only the industry's latest.
Mylan said July 14 it will buy Abbott Laboratories' generic-drug business and incorporate the new company in the Netherlands. Medtronic, a Minneapolis-based medical-device maker, on June 15 announced a $42.9 billion takeover of Dublin- based Covidien.