Press Release
Shire delivers strong quarter driven by 3m of new product sales
Thursday, July 31 2008
Shire Ltd imited announces results for the three months to June 30, 2008. Revenue guidance upgraded.
Q2 2008 Financial Highlights
• Product sales up 40% to 6m
• Product sales excluding ADDERALL XR® up 64% to 9m
• New product sales(1) 3m, 34% of product sales (2007: 18%)
• Total revenues up 35% to 6m
• US GAAP earnings per ADS: loss
Press Release
Shire delivers strong quarter driven by $243m of new product sales
Thursday, July 31 2008
Shire Ltd imited announces results for the three months to June 30, 2008. Revenue guidance upgraded.
Q2 2008 Financial Highlights
• Product sales up 40% to $706m
• Product sales excluding ADDERALL XR® 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 Jerini's orphan drug FIRAZYR® reinforces our confidence in this product.
"In addition to FIRAZYR, we have acquired seven new products since the start of 2007 which supports delivery of our long term strategy. Shire is in line to deliver another set of excellent results for 2008 and is upgrading its full year guidance for total revenue growth from the mid to high teens to at least 20%."
Latest Press Releases
- Shire delivers strong quarter driven by $243m of new product sales
- Jerini receives european commission approval for FIRAZYR® (Icatibant) in HAE treatment
- Shire to add new orphan drug to its HGT portfolio - EU launch imminnent
- Graham Hetherington appointed Chief Financial Officer and Board Director at Shire
- First and Only Treatment for Hunter Syndrome Now Approved in 40 Countries Worldwide
- Results of Court Meeting and Extraordinary General Meeting - Shareholders Approve Scheme of Arrangement and New Share Plans
- Shire welcomes the Court of Appeal's decision that NICE review of Alzheimer's drugs was procedurally unfair
- Publication of Supplementary Prospectus
- Shire enhances its orphan drug pipeline with the acquisition of a new clinical candidate for Metachromatic Leukodystrophy
- FDA Approves VYVANSE (TM) (lisdexamfetamine dimesylate), the First and Only Once-Daily Prodrug Stimulant to Treat ADHD in Adults
Spread your message to an audience that counts, with options available for our website, email bulletins and publications including The House Magazine.
• Non GAAP earnings per ADS up 70% to
Press Release
Shire delivers strong quarter driven by $243m of new product sales
Thursday, July 31 2008
Shire Ltd imited announces results for the three months to June 30, 2008. Revenue guidance upgraded.
Q2 2008 Financial Highlights
• Product sales up 40% to $706m
• Product sales excluding ADDERALL XR® 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 Jerini's orphan drug FIRAZYR® reinforces our confidence in this product.
"In addition to FIRAZYR, we have acquired seven new products since the start of 2007 which supports delivery of our long term strategy. Shire is in line to deliver another set of excellent results for 2008 and is upgrading its full year guidance for total revenue growth from the mid to high teens to at least 20%."
Latest Press Releases
- Shire delivers strong quarter driven by $243m of new product sales
- Jerini receives european commission approval for FIRAZYR® (Icatibant) in HAE treatment
- Shire to add new orphan drug to its HGT portfolio - EU launch imminnent
- Graham Hetherington appointed Chief Financial Officer and Board Director at Shire
- First and Only Treatment for Hunter Syndrome Now Approved in 40 Countries Worldwide
- Results of Court Meeting and Extraordinary General Meeting - Shareholders Approve Scheme of Arrangement and New Share Plans
- Shire welcomes the Court of Appeal's decision that NICE review of Alzheimer's drugs was procedurally unfair
- Publication of Supplementary Prospectus
- Shire enhances its orphan drug pipeline with the acquisition of a new clinical candidate for Metachromatic Leukodystrophy
- FDA Approves VYVANSE (TM) (lisdexamfetamine dimesylate), the First and Only Once-Daily Prodrug Stimulant to Treat ADHD in Adults
Spread your message to an audience that counts, with options available for our website, email bulletins and publications including The House Magazine.
Press Release
Shire delivers strong quarter driven by $243m of new product sales
Thursday, July 31 2008
Shire Ltd imited announces results for the three months to June 30, 2008. Revenue guidance upgraded.
Q2 2008 Financial Highlights
• Product sales up 40% to $706m
• Product sales excluding ADDERALL XR® 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 Jerini's orphan drug FIRAZYR® reinforces our confidence in this product.
"In addition to FIRAZYR, we have acquired seven new products since the start of 2007 which supports delivery of our long term strategy. Shire is in line to deliver another set of excellent results for 2008 and is upgrading its full year guidance for total revenue growth from the mid to high teens to at least 20%."
Latest Press Releases
- Shire delivers strong quarter driven by $243m of new product sales
- Jerini receives european commission approval for FIRAZYR® (Icatibant) in HAE treatment
- Shire to add new orphan drug to its HGT portfolio - EU launch imminnent
- Graham Hetherington appointed Chief Financial Officer and Board Director at Shire
- First and Only Treatment for Hunter Syndrome Now Approved in 40 Countries Worldwide
- Results of Court Meeting and Extraordinary General Meeting - Shareholders Approve Scheme of Arrangement and New Share Plans
- Shire welcomes the Court of Appeal's decision that NICE review of Alzheimer's drugs was procedurally unfair
- Publication of Supplementary Prospectus
- Shire enhances its orphan drug pipeline with the acquisition of a new clinical candidate for Metachromatic Leukodystrophy
- FDA Approves VYVANSE (TM) (lisdexamfetamine dimesylate), the First and Only Once-Daily Prodrug Stimulant to Treat ADHD in Adults
Spread your message to an audience that counts, with options available for our website, email bulletins and publications including The House Magazine.
• 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 9m, 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 Jerini's orphan drug FIRAZYR® reinforces our confidence in this product.
"In addition to FIRAZYR, we have acquired seven new products since the start of 2007 which supports delivery of our long term strategy. Shire is in line to deliver another set of excellent results for 2008 and is upgrading its full year guidance for total revenue growth from the mid to high teens to at least 20%."
Latest Press Releases
- Shire delivers strong quarter driven by 3m of new product sales
- Jerini receives european commission approval for FIRAZYR® (Icatibant) in HAE treatment
- Shire to add new orphan drug to its HGT portfolio - EU launch imminnent
- Graham Hetherington appointed Chief Financial Officer and Board Director at Shire
- First and Only Treatment for Hunter Syndrome Now Approved in 40 Countries Worldwide
- Results of Court Meeting and Extraordinary General Meeting - Shareholders Approve Scheme of Arrangement and New Share Plans
- Shire welcomes the Court of Appeal's decision that NICE review of Alzheimer's drugs was procedurally unfair
- Publication of Supplementary Prospectus
- Shire enhances its orphan drug pipeline with the acquisition of a new clinical candidate for Metachromatic Leukodystrophy
- FDA Approves VYVANSE (TM) (lisdexamfetamine dimesylate), the First and Only Once-Daily Prodrug Stimulant to Treat ADHD in Adults
Spread your message to an audience that counts, with options available for our website, email bulletins and publications including The House Magazine.