Shire posts healthy second-quarter results, on strong sales growth

Ireland-headquartered drugmaker Shire (LSE: SHP) says it is on track to achieve double-d digit growth for the full year 2012, as it posted second-quarter financial results, with total revenues up 14% at $1.21 billion and product sales rising 16% to $1.14 billion.

Non-GAPP operating income leapt 23% to $420 million and GAPP operating income advanced 7% to $302 million, with diluted earnings per ADR rising 26% to $1.68 and 15% to $1.24, respectively. Shares of Shire, the UK’s third-largest drugmaker, rose 5.4% to £19.47 by mid afternoon yesterday.

Angus Russell, chief executive, commented: “Shire delivered strong results in the second quarter, with product sales up 16% and Non GAAP operating income up 23%. The ADHD [attention-deficit hyperactivity disorder] market in the USA is maintaining healthy growth; our lead products Vyvanse [lisdexamfetamine] and Intuniv [guanfacine] both increased share and we’re advancing our plans for the continued international rollout of both these products. Although of decreasing importance in our ADHD portfolio, we believe that branded Adderall XR [mixed amphetamine salts] will remain competitive in the US marketplace despite the approval of a new generic product.”