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Home Industry News Shire reports ‘excellent’ business performance

Shire reports ‘excellent’ business performance

26th February 2008

Global speciality biopharmaceutical company Shire has announced its financial results for the year ended December 2007 and has reported a strong performance across all areas of its business.

The firm announced a 41 per cent increase in product sales to $2,170 million (1,104 million pounds), with sales of new products accounting for 23 per cent of this figure.

Product sales drove revenue growth of 36 per cent, with total revenues reaching $2,436 million, resulting in a 38 per cent increase in non-GAAP earnings per average diluted share to $2.95.

During 2007, Shire launched three major products, Vyvanse, Lialda/Mezavant and Dynepo and continued the roll-out of Elaprase and Fosrenol.

Matthew Emmens, chief executive officer, said: “Shire had an excellent 2007, growing sales from our portfolio of both new and established products by a total of 41 per cent and raising revenue guidance throughout the course of the year.”

He added that the company generated substantial cash inflows from its operations and said hat the company would now bring forward a number of new research and development programmes.

Last week, senior vice-president of leadership development at Shire Pharmaceuticals Charlotte Sibley was named Woman of the Year by the Healthcare Businesswomen’s Association.

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