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Shire announces strong Q3 performance

Speciality biopharmaceutical company Shire has experienced a 31 per cent increase in product sales and a total revenues rise to $779m during Q3 2008

Speciality biopharmaceutical company Shire has experienced a 31 per cent increase in product sales and a total revenues rise to $779m during Q3 2008.

Angus Russell, Shire's CEO said that its new products generated revenues of $276m, representing 39 per cent of total product sales. Among these new products, Lialda, indicated for the treatment of ulcerative colitis, experienced a 148 per cent rise in sales and Foserol, used in the treatment of hyperphosphataemia, doubled its sales figures.

Shire launched Vyvanse for adult ADHD in the US in June 2008. It is the third highest prescribed ADHD product in the US and in the nine months to September, totalled $215.6m in net sales.

The company's longstanding ADHD therapy, Adderall XR, is expected to face generic competition when it goes off patent in 2009.

During the quarter, Shire acquired over 90 per cent of the shares in German biotech company Jerini. This included the acquisition of Firazyr, which became the first hereditary angio-aedema product to receive approval throughout the European Union.

"We are in a strong position as we look ahead to the end of 2008 and beyond, with an excellent portfolio and pipeline for future growth, developed around our focused specialty biopharmaceutical strategy," said Shire's CEO, Angus Russell.

29th October 2008

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