SAINT HELIER (dpa-AFX) - Dublin Ireland-based drug maker Shire Plc. (SHP.L, SHPG) said Monday that it expects to deliver double-digit compound annual product sales growth from its current portfolio and to more than double its 2013 annual product sales to $10 billion by 2020.
Shire is delivering a presentation today setting out the continued progress in executing its strategy, which centers on delivering innovative therapies for significant unmet need in Rare Diseases and other high-value specialty indications.
Flemming Ornskov, Chief Executive Officer of Shire, said, 'We have a long range plan that envisages more than doubling product sales from just under US$5 billion in 2013 to US$10 billion by 2020 from the current portfolio, even without the impact of any additional M&A, licensing and the pipeline development from certain recent transactions.'
The company provides new, long-term, financial targets. From 2013 to 2020 Shire targets sustainable product sales growth leading to annual product sales, excluding the impact of any additional M&A, licensing and certain recent acquisitions, of $10 billion by 2020, comprising $7 billion from in-line product sales and US$3 billion in sales from existing pipeline products.
In the medium term, Shire also targets annual product sales of $6.5 billion by 2016.
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