Shire's 3rd-qtr 2006 revenue rises 19%

Shire posted third-quarter 2006 earnings ahead of expectations. The UK drugmaker made $449.4 million, up 19% on the comparable period last year, due to a strong performance from its attention-deficit hyperactivity disorder franchise, which captured over 29% of the lucrative US market following the success of its newly-launched Daytrana (methylphenidate patch), the first transdermal treatment for ADHD, and the continued strong performance of its mainstay drug Adderall XR (mixed amphetamine salts).

During the period, product sales totaled $386.2 million, up 25%, as Elaprase (idursulfase), the first human enzyme replacement therapy for the treatment of Hunter syndrome, performed well after the European Medicines Agency recommended it for the long-term treatment of patients with the condition, while Daytrana captured 1.7% of the total US ADHD market after only three months. Earlier in the year, Shire predicted low double-digit growth for the full year but has raised its estimate slightly, now forecasting growth in the range of 12%-14% with costs expected to be in line with previous guidance.