UK drugmaker Shire has posted a strong set of results for the fourth quarter and as sales of Adderall XR sank, its new attention-deficit hyperactivity disorder drug Vyvanse grew impressively.
Net income climbed 23% to $174.3 million, while turnover was up 17% to $893 million. This was despite a 30% decline in sales of Adderall XR (mixed amphetamine salts) to $192.3 million, which is suffering from generic competition from Teva Pharmaceutical Industries and Impax Laboratories.
However, turnover from Vyvanse (lisdexamfetamine dimesylate), the follow-up to the older ADHD drug, leapt 41% to $145.0 million, while revenues from Elaprase (idursulfase) for Hunter syndrome reached $94.2 million, up 26%. Replagal (agalsidase alfa), for the treatment of Fabry disease, contributed $60.9 million to the coffers, up 37%,
Pentasa (mesalamine) climbed 23% to $58.3 million, and the firm’s newer ulcerative colitis drug Lialda/Mezavant brought in $66.5 million, a leap of 63%. The ADHD patch Daytrana (methylphenidate) climbed 6% to $18.8 million, up 6%, while its just-launched ADHD drug Intuniv (guanfacine), for children and adolescents, brought in $5.4 million. Turnover from Fosrenol (lanthanum carbonate) for high blood phosphate levels was up 40% to $47.2 million.
Shire also noted that it is hoping to get approval from the US Food and Drug Administration for its Gaucher disease therapy velaglucerase alfa, to be marketed as Vpriv, by the end of the month. It is currently being provided to patients in the USA and in the European Union under a compassionate use protocol following a shortage of the only approved therapy, Genzyme Corp’s Cerezyme. (imiglucerase). On a conference call, chief executive Angus Russell said the company intends to sell Vpriv at a 15% discount to Cerezyme.
The results went down well with investors and Shire’s share price closed at £13.70, up 4.6%.
