Shire PLC, an Irish pharmaceutical company with a $500 million campus in Lexington, said that second-quarter revenues rose 6 percent to $1.275 billion, boosted by strong sales for several of its top 10 drugs.
Operating income was $452 million, up 8 percent from the same quarter a year ago, Shire said in a press release.
Six of the company’s top 10 drugs had double digit growth during the second quarter. Those drugs include Vyvanse, which treats attention deficit hyperactivity disorder; its sales were up 13 percent to $300 million. Elaprase, which treats a rare genetic condition called Hunter syndrome, posted sales of $149 million, up 22 percent. And Lialda, which can be prescribed for ulcerative colitis, had sales of $138 million, up 46 percent.
In a statement, Shire chief executive Flemming Ornskov, MD, commented on second-quarter results
“We’re successfully executing our strategy, which is to grow by focusing on innovation-driven specialty products through both R&D and M&A,” Ornskov said. “We’ve sharpened our focus on commercial excellence and we’re enhancing our pipeline productivity.”
In the part of its press release devoted to its outlook, Shire said: “As we look forward to the remainder of the year, we anticipate delivering full year double digit Non GAAP earnings growth in 2013. Based on our actual results to date and anticipated trends for the remainder of the year, we continue to expect full year product sales growth in the mid-to-high single digits. We expect the rate of product sales growth, as previously guided, to show improvement over the balance of the year as our portfolio continues to deliver growth and we benefit from an easing of comparatives in the second half. We have narrowed our estimates for royalties and other revenues, which are now expected to be 35-40 percent lower than 2012.”Chris Reidy can be reached at firstname.lastname@example.org.