BASINGSTOKE, England and PHILADELPHIA, July 31 /PRNewswire-FirstCall/
-- Shire Limited (LSE: SHP, NASDAQ: SHPGY) the global specialty
biopharmaceutical company announces results for the three months to June
Q2 2008 Financial Highlights
- Product sales up 40% to $706m
- Product sales excluding ADDERALL XR(R) up 64% to $409m
- New product sales(1) $243m, 34% of product sales (2007: 18%)
- Total revenues up 35% to $776m
- US GAAP earnings per ADS: loss $0.44 (2007: loss $9.93)
- Non GAAP earnings per ADS up 70% to $0.95 (2007: $0.56)
- Revenue guidance upgraded - 2008 revenue growth now expected to
be at least 20% (previous guidance: mid to high teens)
(1) New product sales comprise DAYTRANA, ELAPRASE, FOSRENOL, LIALDA /
MEZAVANT and VYVANSE
Angus Russell, Chief Executive Officer, commented:
"Shire continues to deliver strong growth and broaden its business in specialty biopharmaceuticals. Our product sales for the quarter were up 40% on Q2 2007 with sales of new products now comprising 34% of total product sales. At $409m, product sales excluding ADDERALL XR were up 64% reflecting the success of our strategy to build a pipeline and portfolio for Shire's future growth.
"We are pleased with the performance of ELAPRASE, FOSRENOL, LIALDA, REPLAGAL and VYVANSE and are looking forward to the continued growth of VYVANSE in the US supplemented by the recent launch of the adult indication, the additional dosage strengths and the back-to-school season.
"We have decided to commence a phased discontinuation of DYNEPO. Resources supporting this product will be re-directed to faster growing, profitable core global products.
"The proposed acquisition of Jerini AG in Germany, which we expect to
complete in Q3, is an excellent match for our business and we expect to
benefit from both its near term revenues and long term growth. The recent
EU approval of Je
|SOURCE Shire Ltd|
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