Shire sees further strong growth in Q3 2013

Shire has expressed satisfaction with its financial performance in the third quarter of 2013 after it experienced strong double-digit growth during the period.

The company's total revenues for the three-month spell came to 1.24 billion euros (1.06 billion pounds), with its sales, income, earnings, cash generation and cash flow also seeing double-digit increases.

Products such as Vyvanse, Lialda/Mezavant and Firazyr all saw significant increases in demand, while its One Shire efficiency improvement scheme progressed, helping the company to eliminate unnecessary costs.

As a result of these improvements, Shire is increasing its 2013 full-year guidance and now expects to deliver mid-to-high teens non-GAAP earnings growth.

Dr Flemming Ornskov, chief executive officer of Shire, said: "We're confident in our prospects for the longer term as we continue to execute on commercial delivery, progress our prioritised pipeline and focus on targeted mergers and acquisitions."

This comes after the company appointed Dominic Blakemore, finance director of Compass Group, as a new non-executive director earlier this month.