(Corrects to change "Shire's" to "Shire" in headline)
* 3Q revenue $667 mln vs $651 mln consensus
* Vyvanse sales up 34 pct, Adderall XR sales fall 74 pct
* Adjusted earnings per ADS fall 58 percent
* Reiterates full-year guidance
* Shares rise 4 percent on new drug performance
(Adds comments from company, analyst, share price)
By Ben Deighton
LONDON, Oct 30 Shire's (SHP.L) efforts to shift
focus to its portfolio of new drugs from its former
hyperactivity blockbuster Adderall XR have paid off with
third-quarter revenue that beat analysts' expectations.
Shares in Shire were up 4 percent by 1335 GMT on Friday,
driven by the higher-than-expected sales of Vyvanse and its
ulcerative colitis treatment Lialda.
Britain's third-biggest drugmaker said on Friday that sales
of its newer hyperactivity drug Vyvanse had started to gather
pace, helped by a distribution deal with British peer
"In the early months we've already had clear signs that
there is upside coming from GSK's work but it's not going to be
a sudden huge tick up ... I believe over time we will see upside
benefits from that," Chief Executive Angus Russell told
reporters on a conference call.
The company signed a deal in March with Glaxo, the world's
second-largest drug company, to co-promote Vyvanse in the United
All eyes are on sales of the company's newer drugs, such as
Vyvanse, as it weans itself off its old blockbuster Adderall XR,
which has been facing generic competition since the beginning of
the second quarter.
Sales of Vyvanse grew 34 percent to $129 million and Lialda
sales grew 62 percent to $65 million, while Adderall XR sales
dropped 74 percent to $71 million.
"Revenues are 3 percent above our estimates and consensus,
mostly driven by strong Vyvanse and Lialda sales," Jefferies
analysts said in a note to clients.
Shire earlier reiterated its full-year guidance for adjusted
earnings per American depository share of about $2.80 to $3.40,
depending on exchange rates.
Overall, revenue fell to $667 million, from $779 million
last time, but beat an average of $651 million expected by 14
analysts polled by Thomson Reuters I/B/E/S.
Adjusted earnings per American depository share fell 58
percent to $0.49.
(Editing by Karen Foster)