Shire highlights strong progress in Q2 2013

Shire has published its financial report for the second quarter of 2013, a period marked by strong growth and strategic progress for the company.

Its revenue total for the quarter came to $1.28 billion (827.79 million pounds), up by six percent year on year, while its product sales, income and earnings totals also saw improvements.

The firm has been able to enhance its organic growth performance and margins during the three-month period and made progress with the development of its late-stage pipeline, which includes therapies such as lifitegrast and LDX.

Efforts are also being made to integrate its divisions into a simplified "One Shire" business model, in order to deliver operational efficiencies.

Dr Flemming Ornskov, chief executive officer of Shire, said: "We anticipate delivering full-year double-digit non-GAAP earnings growth in 2013 and are confident in our ability to grow operating margins going forward."

The company is hoping to invest further in its late-stage drug development and expand its emerging market presence to achieve above-the-market growth for the full-year period.