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Shire's Quarterly Revenues Grow by 25% to $1 Billion for the First Time
Date:7/28/2011

our GI franchise, LIALDA performed well and we were pleased to receive US approval for maintenance of remission in patients with ulcerative colitis.

As well as growing our existing business, we're continuing to invest in our portfolio for the future. In our pipeline we're generating data for new indications and new markets, in addition to developing new proprietary technology platforms. During the quarter, we also completed our acquisition of Advanced BioHealing bringing us DERMAGRAFT, a US marketed product and the opportunity to build an important business in the promising field of regenerative medicine.

During the year we have seen market consensus for 2011 earnings increase. Our performance in the first six months of the year has further underpinned our confidence in meeting these increased expectations for 2011. We anticipate that this will be another very good year for Shire as we deliver strong sales and continue our investment for sustained future growth."

FINANCIAL SUMMARY

Second Quarter 2011 Unaudited Results

Q2 2011 Q2 2010 Non Non US GAAP Adjustments GAAP US GAAP Adjustments GAAP $M $M $M $M $M $M Total revenues 1,063 - 1,063 849 - 849 Operating income 283 59 342 224 46 270 Diluted earnings per ADS $1.08 $0.25 $1.33 $0.86 $0.17 $1.03

  • Product sales were up 30% to $993 million (Q2 2010: $764 million) as strong growth continued through the second quarter, assisted in part by favorable foreign exchange. On a constant exchange rate ("CER") basis, which is a Non GAAP measure, product sales were up 26%.

  • Product sales excluding ADDERALL XR® increased by $163 million (up 24%) compared to Q2 2010, particularly driven by VYVANSE® (up 26% to $186 million), LIALDA®/MEZAVANT® (up 43% to $99 million), REPLAGAL® (up 46% to $120 million) and VPRI
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SOURCE Shire plc
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