Shire's 2006 income hits $278M, sales up 16%

UK-based pharmaceutical company Shire says that, for the full year 2006, its net income on a US generally-accepted accounting principals basis was $278.2 million, a turnaround from the $578.4 million loss it recorded in 2005. Lehman Brothers said that the firm's earnings were short of its prediction of $289.0 million, but were ahead of the consensus estimate of $266.0 million.

The Basingstoke-headquartered group also reported a 12% hike in its total revenues, to $1.8 billion, with product sales increasing 16% to $1.5 billion. The firm's attention-deficit hyperactivity disorder drug Adderall XR (mixed amphetamine salts) made the largest contribution, up 18% to $863.0 million, while a strong performance was also achieved by the Fabry disease treatment Replagal (agalsidase alfa), up 24% to $118.0 million, and the recently launched Hunter disease product Elaprase (idursulfase), which saw turnover of $24.0 million in the USA, double Lehman Brothers' estimate.

2007 to be dominated by drug launches...