LONDON May 2 British pharmaceutical firm Shire
beat expectations with a 10 percent rise in
first-quarter earnings on Thursday after a strong performance
from its drugs that treat hyperactivity.
In the first set of results with new chief executive
Flemming Ornskov at the helm, Shire posted non-GAAP earnings per
ADS of $1.63, beating analyst forecasts of $1.59.
Revenue of $1,162 million was down 1 percent, falling short
of the $1,221 million the market expected, as growth in product
sales was offset by lower royalties, particularly for
hyperactivity drug Adderall XR from Impax Laboratories Inc
As well as treatments for hyperactivity, London-listed Shire
focuses on niche rare disease areas.
The company said it was confident it would deliver earnings
growth in line with market expectations for the full year.