SAINT HELIER (dpa-AFX) - Shire plc (SHP.L, SHPGY) said first quarter net income rose to $238.4 million or 41.4 cents per share from $211.3 million or 37.0 cents per share last year.
Earnings per ADS grew 12% to $1.24 from the prior-year quarter.
Adjusted earnings per ADS rose 20% to $1.48 from a year ago. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $1.48 per share. Analysts' estimates typically exclude special items.
Total revenues grew to $1.17 billion from $972.2 million last year. Analysts expected revenues of $1.15 billion.
Angus Russell, Chief Executive Officer, commented, 'Shire continues to perform strongly with first quarter results in line with our expectations. Product sales increased 24%...
In ADHD, our lead treatments VYVANSE and INTUNIV both increased share versus the prior year in a growing US market and we anticipate VYVANSE sales of over $1 billion for the full year.
Following its launch late last year, FIRAZYR has made a very good start in the US and has added further growth to the strong sales performance of our other rare disease treatments ELAPRASE, VPRIV and REPLAGAL.
Our new regenerative medicine product DERMAGRAFT also performed well, contributing to our overall growth in product sales.
We've made a strong start to the year and reiterate our expectation of good earnings growth in 2012.'
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© 2012 AFX News
