Shire has posted another strong set of results for the third quarter, with its old and new attention-deficit hyperactivity disorder treatments and rare disease drugs once again performing well.
Fourth-quarter net income leapt nearly 55% to $255.3 million, while revenues increased 23% to $1.14 billion. Turnover was driven by the ADHD drug Vyvanse (lisdexamfetamine dimesylate), which grew 20% to $217.1 million, and its off-patent predecessor Adderall XR (mixed amphetamine salts) brought in $124.8 million, up 40%. Another ADHD drug, Intuniv (guanfacine), had sales of $65.4 million (+52%).
Shire’s rare diseases portfolio also fared particularly well, with Replagal (agalsidase alfa) for Fabry disease up 11% to $120.9 million. Vpriv (velaglucerase alfa) for Gaucher’s disease, brought in $69.3 million, up 17%. Both these treatments are still benefitting from Sanofi-owned Genzyme Corp’s manufacturing problems with its rival therapies Cerezyme (imiglucerase) and Fabrazyme (agalsidase beta). The Hunter Syndrome therapy Elaprase (idursulfase) rose 17% to $124.0 million.
As for Shire’s other products, Pentasa (mesalamine) rose 9% to $65.2 million, and the firm’s newer ulcerative colitis drug Lialda/Mezavant brought in $96.1 million, up 14%. Shire recently completed the acquisition of the USA’s Advanced BioHealing for $750 million and the latter’s Dermagraft, a regenerative bio-engineered skin substitute for the treatment of diabetic foot ulcers, contributed $53 million.
Chief executive Angus Russell noted that full-year revenues topped $4 billion for the first time and noted that regulatory processes are progressing well at the firm’s new biologics manufacturing facility in Lexington, Massachusetts. This will “soon enable us to significantly increase capacity to meet growing global demand”, he added.
Mr Russell concluded by saying that “supported by our strong cash generation, we will continue to invest in growth prospects [and] we expect 2012 to be a year of good earnings growth”.
