Shire reports strong growth in 2012 business year

Shire has published its financial results for the 2012 business year, during which it was able to achieve a revenue total of $4.68 billion (3.03 billion pounds), up by ten percent on 2011.

Its annual sales surged by 12 percent year over year while income, earnings and cash flow levels also experienced double-digit increases, which helped the firm to maintain its research and development investments.

The recent growth of its attention deficit hyperactivity disorder portfolio will be sustained by the recent European approval of Elvanse, which was given the go-ahead for a UK launch last week, while its rare disease division is also expanding.

Additionally, a number of in-licensing deals and acquisitions were completed in 2012 and a leadership succession plan has been put in place, with Dr Flemming Ornskov set to take over as chief executive officer (CEO) of Shire at the end of April 2013.

Angus Russell, the company's outgoing CEO, said: "As we look forward to the year ahead, we expect our financial results to show further growth in line with current consensus earnings expectations for 2013."