Shire Pharmaceuticals, which has just won the backing for its $1.6 billion bid for Transkaryotic Therapies from the latter firm’s shareholders
[[28/05/05g]], despite a rebellion by a minority of investors, has reported a
30% rise in income from continuing operations to $116.2 million for the second quarter of 2005.
Revenues jumped 32% to $424.6 million, driven again by the company’s flagship ADHD treatment Adderall XR (amphetamine salts extended release), sales of which leapt 43% to $205.4 million, though Agrylin/Xagrid (anagrelide) for essential thrombocythemia fell 13% to $29.7 million, due to the impact of generic competition in the USA. Pentasa (mesalamine), for the treatment of ulcerative colitis, was up 17% to $31 million, the epilepsy drug Carbatrol (carbamazepine) leapt 84% to $21.8 million and Fosrenol (lanthanum carbonate) for the treatment of hyperphosphatemia, launched at the beginning of the year [[03/05/05b]] had sales of $9.9 million, double its total in the first quarter.
Chief Executive Matthew Emmens said that Shire is continuing to meet “key strategic milestones [and] our underlying business continues to perform strongly.” He added that the firm resubmitted the ADHD Methypatch (methylphenidate) with the US Food and Drug Administration last month [[27/07/05b]] and the second half of 2005 should also bring positive news with the anticipated filing of New Drug Applications for the ulcerative colitis treatment SPD476 and NRP104, again for ADHD.
Mr Emmens concluded by saying that the acquisition of TKT “brings a new platform - the treatment of genetic diseases - providing for future growth and strengthening our presence in Europe.”