Shire’s ADHD portfolio attributed to strong growth in 2012
Shire has announced its 2012 full-year results, reporting a 14% rise in earnings, which was in line with market expectations. Chief Executive Angus Russell, in his last set of results before handing over to Flemming Ornskov, said that the group’s ADHD portfolio was performing well and driving this growth.
Shire’s most recent ADHD drug, Vyvanse, generated sales of US $1 billion last year, which contributed over a fifth of the company’s overall revenues.
“Our ADHD portfolio is performing very well in a growing global market and we see further growth going forward. The positive opinion received from the European regulators for ELVANSE is a significant milestone and we’re now preparing for country launches in some of the largest markets in Europe. All our rare disease treatments continue to grow and we saw particularly strong performance from FIRAZYR in its first full year in the US market.”
Angus Russell, Chief Executive Officer, Shire.
While Shire faced some pricing pressures and patent expiries last year, which pushed earnings down 13%, the company is confident that it will not be largely impacted by increased generic competition.
“Shire is in great shape, with the current business performing well, a promising pipeline of new growth opportunities, and the strategy in place to deliver an exciting future. As we look forward to the year ahead, we expect our financial results to show further growth in line with current consensus earnings expectations for 2013.”
Angus Russell continued.
Adult demand for ADD drug lifts Shire (Financial Times)
Don't miss your daily pharmaphorum news.
SUBSCRIBE free here.