Shire has posted another strong set of results for the second quarter, with its attention-deficit hyperactivity disorder treatments and rare disease drugs once again performing well.
Net income climbed nearly 16% to $237.8 million, while revenues increased 14% to just over $1.20 billion. Turnover was driven by the ADHD drug Vyvanse (lisdexamfetamine dimesylate), which soared 43% to $266.2 million, while sales of its off-patent predecessor Adderall XR (mixed amphetamine salts) fell 9% to $133.9 million. Another ADHD drug, Intuniv (guanfacine), had sales of $69.1 million (+16%).
As for Shire's rare diseases portfolio, Replagal (agalsidase alfa) for Fabry disease increased 3% to $123.2 million, while Vpriv (velaglucerase alfa) for Gaucher's disease brought in $82.7 million, up 31%. The Hunter Syndrome therapy Elaprase (idursulfase) slipped 4% to $122.2 million.
As for Shire's other products, Pentasa (mesalamine) was down 3% to $63.9 million, and the firm’s newer ulcerative colitis drug Lialda/Mezavant brought in $94.1 million, a decrease of 5%. Dermagraft, a regenerative bio-engineered skin substitute for the treatment of diabetic foot ulcers, contributed $52.4 million, while Firazyr (icatibant injection) for hereditary angioedema, had sales of $31.7 million.
Chief executive Angus Russell said the ADHD market in the USA "is maintaining healthy growth [and] we’re advancing our plans for the continued international rollout" of Vyvanse and Intuniv. He added that "although of decreasing importance in our ADHD portfolio, we believe that branded Adderall XR will remain competitive in the US marketplace despite the approval of a new generic product".
Mr Russell said that "based on the market dynamics we are anticipating and the actions we have taken, Shire is on track to deliver double-digit full-year earnings growth in 2012". The company added that total revenues will still show double-digit growth this year but product sales growth will be in the low-teens, slightly down on a previous forecast, due to foreign exchange movements.