Shire posts sales and revenue increases in Q2 2010

Shire has hailed its performance in the second quarter of 2010 as “excellent” after posting significant gains compared to the same period of last year.

Product sales for the quarter came to $764 million (481.4 million pounds), up by 37 per cent on Q2 2009, while revenue rose by 35 per cent and non-GAAP operating income increased by 134 per cent.

A number of Shire’s key product ranges contributed to this growth with double-digit sales increases, including the ADHD treatment Vyvanse and the Fabry disease therapy Replagal.

As such, Shire chief executive officer Angus Russell expressed confidence that the firm is well-placed to cope with wider economic and market pressures.

He added: “Our strong performance in the second quarter reinforces our confidence in growing both revenue and earnings in the full year 2010 compared to 2009.”

Earlier this week, the company announced the appointment of Grainne Higgins, formerly of Merck Sharpe and Dohme, as its new global vice-president of human resources.