Shire sees strong growth in 2016 after Baxalta acquisition

Shire has announced its financial results for 2016, during which it achieved a revenue total of $11.4 billion (9.16 billion pounds).

This represented a 78 percent year-on-year increase on 2015, which was largely attributable to the acquisition of Baxalta. However, even when excluding the impact of the Baxalta purchase, product sales were up by 15 percent.

The Baxalta integration has progressed ahead of schedule and allowed Shire to become the world leader in the field of rare diseases, while the acquisition of Dyax has also made a positive contribution. Other key highlights of the year include the successful US launch of the ophthalmic therapy Xiidra, marking the company's first outing in this therapeutic area.

Shire now has approximately 20 drug research programmes at the phase III or registration stage, putting it in a good position for further growth in 2017.

Dr Flemming Ornskov, Shire's chief executive officer, said: "With multiple product launches planned in 2017, we remain focused on execution and expect to generate strong top and bottom-line growth."

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