Please login to the form below

Not currently logged in
Email:
Password:

Shire's Q3 net profit doubles

Net profit for Shire recovers from payment to Acceleron and impairment charges relating to the divestment of Daytrana

Shire has recorded a net profit of $192.9m for the third quarter of 2011 – an increase from 2010 of 100 per cent.

Last year, the Ireland-based pharmaceutical company made $96.3m after being hit by payments to Acceleron Pharma and impairment charges related to the divestment of ADHD treatment Daytrana (methylphenidate).

Discounting the one-off charges, as well as other measures specified by the company, net profit was still up, increasing from $220.3m in 2010 to $244.7m in 2011.

This was bolstered by a strong sales performance, with total revenues for Shire increasing 24 per cent to $1.09bn.

Products that performed particularly well in the quarter included ADHD treatments Vyvanse (lisdexamfetamine) and Adderall XR (amphetamine, dextroamphetamine mixed salts).

Vyvanse made $199.7m, an increase in sales of 32 per cent, while Adderall XR made $149.9m, an increase of 50 per cent.

Angus Russell, CEO of Shire, said: "The investment in our product portfolio is already delivering benefits and we believe our R&D pipeline will provide important therapies to patients around the world.

"Overall, we've increased investment in our R&D programmes by 21 per cent compared to Q3 2010, and still generated good earnings growth and strong cashflows."

31st October 2011

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Page & Page

Page & Page is a new kind of marketing communications consultancy. We change beliefs and behaviours to improve health outcomes...

Latest intelligence

Is the pharma business model ready for precision medicine?
Precision medicine promises to revolutionise patient outcomes and reduce costs for industry but is pharma ready for it? Blue Latitude Health co-founder Head of Strategy Fred Bassett explores the challenges...
ABPI2018
The NHS and ABPI at 70: inching closer to the triple win
The NHS and UK pharma’s ABPI both turn 70 this year. After years of transactional relationships, there’s a will to work more closely - but friction on prices and value...
What pharma marketers can learn from behavioural science
Pharma behavioural science and traditional emotional marketing create a powerful mix of techniques that have impact on real lives....

Infographics