Shire achieves record revenues in 2014

Shire has announced its financial results for the 2014 business year, during which it achieved a record-breaking revenue total of $6.02 billion (3.91 billion pounds).

This represented a year-on-year increase of 22 percent, with non-GAAP operating income also rising by 39 percent. The scale of the growth achieved during 2014 was partly attributable to the successful acquisition and integration of ViroPharma.

Shire saw strong demand for brands such as Cinryze, Firazyr, Vyvanse and Lialda, with its rare diseases business a standout performer. The company also significantly enhanced its pipeline in 2014, with 21 distinct programmes now in clinical development.

A combination of organic growth prospects and the impact of the recent Lumena, Fibrotech, Bikam and NPS Pharma acquisitions will help Shire to maintain its momentum in 2015, despite currency headwinds and the loss of exclusivity for the drug Intuniv.

The $5.2 billion NPS Pharma deal, agreed last month, is the most significant of these developments, expanding the firm's expertise in the fields of gastrointestinal disorders and rare disease patient management.

Dr Flemming Ornskov, Shire's chief executive officer, said: "In 2015, Shire is well-positioned on our journey to become a leading global biotech."