Shire meets expectations during Q3 2012

Shire has reported its financial results for the third quarter of 2012, stating that it remains on track to meet its operational goals for the full year.

The company's total revenues for the three-month period came to $1.1 billion (684.97 million pounds), up by one percent year over year, while product sales rose by four percent.

Highlights from the third quarter include the growing share of the US ADHD market commanded by Vyvanse – which will soon launch in Europe as Elvanse – while the firm's rare disease business also continues to expand.

The organisation has also increased its research and development investments, restructured its regenerative medicines business and identified potential new indications for Firazyr and Dermagraft.

Angus Russell, chief executive officer at Shire, said: "We are increasingly confident in our ability to meet our target of delivering sound earnings growth in 2013 and deliver increased growth beyond that."

This comes after the company announced a new collaboration with Italy's Fondazione Telethon last week that will see the organisations carrying out research into rare diseases.