Shire maintains healthy growth in second quarter

Shire has published its financial report for the second quarter of 2012, reporting a year-on-year revenue increase of 14 percent.

The company generated $1.21 billion (776.08 billion pounds) during the period, while product sales surged by 16 percent thanks to rising demand for a number of important drugs.

Attention deficit hyperactivity disorder drugs Vyvanse and Intuniv both increased their market share in the US, with strong sales of Firazyr and Dermagraft also observed.

Over the rest of the year, the company intends to build on its leading positions in the behavioural health, gastrointestinal, human genetic therapy and regenerative medicine sectors, while also forging alliances and investing in new technology.

Angus Russell, chief executive officer at Shire, said: "Based on the market dynamics we are anticipating and the actions we have taken, Shire is on track to deliver double-digit full-year earnings growth in 2012."

This comes after the firm recently named Soren Tulstrup as its new senior vice-president and leader of the mucopolysaccharides franchise at its Shire Human Genetic Therapies division.