LONDON Oct 25 Pharmaceutical group Shire
said its chief executive Angus Russell would be replaced
by Flemming Ornskov, an executive from Bayer, to help steer the
acquisitive company to continued growth.
The change in management came after the London-listed
company missed market expectations for the third quarter by
reporting non-GAAP diluted earnings per ADS (American Depositary
Share) of $1.36, up 6 percent, on revenue of $1.1 billion, up 1
The company, whose drugs portfolios include treatments for
hyperactivity and rare diseases, said it remained on track to
meet its target for double-digit earnings growth for the year.
Analysts were expecting the group to report group revenue of
1.16 billion pounds and non-GAAP earnings per ADS of $1.46,
according to a company compiled consensus.