Hyperactivity drugs fuel Shire's revenues
Sales at Shire shot up by almost a quarter last year,
fuelled by strong demand for its hyperactivity medicine in the US.
Rachel Cooper
By Rachel Cooper
11:12PM GMT 09 Feb 2012
Britain's third-biggest drug maker saw sales of Vyvanse, its
treatment for attention deficit hyperactivity disorder (ADHD), rise 27pc to
$805m (£508m) in 2011.
"In ADHD, our key products gained good market share,
outpacing a US market which is estimated to have grown by 10pc," said
Angus Russell, Shire chief executive.
Shire is eyeing international growth for Vyvanse, having
recently launched it in Brazil and filed an application to sell the drug in
Europe.
"Given we are the only branded company left in this
marketplace now, I think the landscape looks really good for us," added Mr
Russell.
Shire's total revenues jumped 23pc to $4.3bn and profits
rose to $1.3bn from $1bn last time.
Sales were also helped by demand for its rare diseases
medicines, including treatments for Fabry and Gaucher disease, which have been
boosted by production problems at rival Genzyme that prompted patients to
switch to Shire products. There are signs that Genzyme is on the road to
recovery, having recently had a new plant approved.
Shire hopes to soon get approval for its own new
manufacturing plant, allowing it to up capacity and meet growing demand. The
shares rose 6p to £21.80.
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