Shire's net income improves 75% in 1st qtr
UK specialty drugmaker Shire Pharmaceuticals has posted product sales of $346.0 million for the first quarter of 2006, up 28% on the year-ago quarter and within its projections. as net income improved 74.8% to $61.1 million. During the period royalties totaled $61.0 million up 5% and total revenues reached $411.0 million, up 23%.
Shire's flagship product, Adderall XR (mixed amphetamine salts), a treatment for attention-deficit hyperactivity disorder, gave a strong sales performance with 42% growth, reaching $206.1 million to secure 26% US market share.
The ulcerative colitis drug Pentasa (mesalamine) inched up 7% to $28.1 million, while Fosrenol (lanthanum carbonate), a treatment for hyperphosphatemia, surged 59% to $7.8 million. However, Carbatrol (carbamazepine extended-release capsules), Shire's treatment for epilepsy, fell 17% to $14.1 million.
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