Shire asserts it achieved excellent growth in 2008

Shire achieved excellent growth across the business in 2008, it has been asserted.

The biopharmaceutical company revealed that for the last financial year, its new product sales had increased by 110 per cent to $1 billion (702.98 million pounds) ? representing 36 per cent of all goods sold.

Flexible leadership, cautious management of the balance sheet, and a concentration on generating cash are all actions chief executive officer Angus Russell asserted would ways in how the firm would continue to grow over the next 12 months.

He stated the company’s strategy to expand through targeted acquisitions would support the growth from its new and existing products.

Mr Russell commented: “We reiterate the earnings guidance framework for 2009 published in our third-quarter earnings statement and our aspiration of growing sales in the mid teens range on average between 2009 and 2015.”

The company is confident in its future, he concluded.

Founded in 1968, Shire is a global business that has merged with several companies over the past few years.

In 1997, it acquired the speciality sales and marketing company Pharmavene.