Shire posts strong full-year 2010 results, but 4th-qtr hit by Adderall

UK drugmaker Shire posted a strong set on financial results for full-year 2010, though it saw lower fourth-quarter profit after royalties and US rebates on its attention-deficit disorder drug Adderall (mixed amphetamine salts) were not repeated. The firm’s shares closed the day just 0.9% higher at £16.71.

Full-year revenues grew 15% to $3.47 billion, with product sales up 16% at $3.13 billion. Non-GAAP operating income rose 20% to $1.07 billion, or $4.23 per share (+21%), with US GAAP operating income up 28% at $794 million, or $3.15 (+17%).

For the fourth quarter, product sales edged 4% higher to $931 million, but non GAAP operating income plunged 24% to $239 million and US GAAP operating income plummeted 27% to $196 million.