Shire: Pipeline and product launches going well

Shire, the UK’s third-largest pharmaceutical company, has said it is on track for the year with product launches and product pipeline progress as it released its second quarterly results.

Product sales increased by seven per cent, after a 28 per cent rise during the first quarter, aided by increased sales of Adderall XR, the attention deficit-hyperactivity disorder (ADHD) treatment.

Shire pointed to the progress it had made in launching Daytrana, an ADHD patch, in the US, as well as the ongoing EU-wide launch of Fosrenol for the treatment of hyperphosphataemia in kidney failure patients.

Additionally, the Basingstoke-based company said it expected a decision by December from the EU regulators regarding the approval of Elaprase, a treatment for Hunter syndrome, which has already been approved in the US.

Matthew Emmens, Shire’s chief executive officer, stated: “This is a significant milestone in the advancement of our human genetic therapies’ business and is the result of our commitment to provide meaningful treatments for patients suffering from genetic diseases.”

“Shire continues to deliver in line with our expectations and we’re making good progress with our pipeline. We reiterate our previously stated guidance of revenue growth for 2006 to be in the low double-digit range and costs to be within the previously indicated ranges,” he added.

Shire’s largest-selling drug is Adderall XR, which was recently the subject of a patent challenge from Barr Laboratories, the American generics manufacturer. The two companies are currently involved in litigation and discussions to potentially settle the lawsuit.

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