Shire’s core products deliver “excellent growth”

Shire has published its financial results for the third quarter of 2009, revealing that its core products performed well and significantly contributed to growth during the period.

Sales of these existing products rose by 20 per cent to $531.6 million (322.9 million pounds), compared to $443.8 million during the same period of 2008.

Revenues from continuing operations for the three months to September 30th decreased to $667 million – a 14 per cent drop from the $778.6 million reported last year.

This, the company states, is due to a decline in branded ADDERALL XR product sales in the third quarter, following the launch of an authorised generic version by Teva in April 2009.

Chief executive officer of Shire Angus Russell explained: “This performance reflects our transformation in the past few years into a global biopharmaceutical company with a proven differentiated strategy and a balanced portfolio of new products.”

Last month, Shire announced that it plans to file a biologics license application for its enzyme replacement therapy for Fabry disease Replagal (agalsidase alfa).