Shire sales increase by more than a quarter

The UK’s third largest pharmaceuticals company has reported that sales have increased by more than a quarter – up 28 per cent to $346 million (192 million pounds). It says this was helped by sales of its attention deficit hyperactivity disorder drug, Adderall XR, which increased total by 42 per cent, as well as the increased use of its phosphate binder, Fosrenol, which saw US prescriptions go up by 128 per cent.

Matthew Emmens, chief executive officer, said that Shire’s quarterly results were a “good start to the year” and in line with its expectations. He also spoke of the “excellent” progress with its regulatory submissions.

He commented: ?We have a strong pipeline and are planning for the roll-out of five new products by mid-2007. There is good momentum in the business and we continue to anticipate revenue growth for 2006 in the low double digit range.?

Shire said that despite double-digit predictions of revenue growth, the costs of launching five new products in the next year as well as continuing the promotion of Fosrenol in Europe will affect earnings. It also added that their predictions assumed that no generic version of Adderall XR will be introduced into the market, which would “materially impact” the company’s revenue.

The company employs 2,400 staff and its research areas focus on the development of gastrointestinal, renal and central nervous system drugs. It has seven products in the pipeline, of which six are in phase II trials or beyond.

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