PHILADELPHIA and DUBLIN, Ireland, Oct. 29 /PRNewswire-FirstCall/ --
Shire plc (LSE: SHP, Nasdaq: SHPGY) the global specialty biopharmaceutical
company announces results for the three months to September 30, 2008.
Q3 2008 Financial Highlights
- Product sales up 31% to $713 million
- Product sales excluding ADDERALL XR(R) up 51% to $444 million
- New product sales(1) $276 million, 39% of product sales (2007:
- Total revenues up 28% to $779 million
- Non GAAP earnings(2) per ADS up 88% to $1.17 (2007: $0.62)
- US GAAP earnings(2) per ADS down 62% to $0.07 (2007: $0.19)
(1) New product sales comprise DAYTRANA(R), ELAPRASE(R), FIRAZYR(R),
FOSRENOL(R), LIALDA(R) / MEZAVANT(R) and VYVANSE(R)
(2) Earnings from continuing operations
Angus Russell, Chief Executive Officer, commented:
"Shire had another very strong quarter across its business. Product sales were up 31% and Non GAAP earnings per ADS rose 88%, compared with the same period last year.
"Our new products continued to underpin this growth, generating revenues of $276 million, representing 39% of our total product sales and exceeding ADDERALL XR sales for the first time. The performance of ELAPRASE, VYVANSE, LIALDA and FOSRENOL ROW were particularly strong. This quarter FIRAZYR was made available in Germany and the UK. We remain confident that these products will continue to deliver strong growth, driven in part by our geographical expansion into the important emerging markets.
"Shire remains highly cash generative, supporting the investment we continue to make in developing our substantial pipeline of products and in expanding the reach of our existing portfolio. We have a robust balance sheet, good liquidity, and strong cash flow, with $279 million of cash flows from operating activities in the third quarter alone.
"We are in a strong position as we look ahead to the end of 2008 and
|SOURCE Shire Plc|
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