Shire profits from Genzyme woes
pharmafile | August 5, 2010 | News story | Sales and Marketing | Shire
Specialist pharma company Shire has posted a set of strong results, thanks in part to the gains it has made against troubled rival Genzyme.
First quarter sales were up a strong 37% to $764 million, buoyed by strong sales from ADHD drug Vyvanse that grew by 30 per cent.
Shire has thrived during the period by capitalising on the manufacturing problems of Genzyme. Shire made the most of short supplies of Genzyme’s Fabryzme with its rival treatment for Fabry disease treatment Replagal, which saw sales shoot up 84% to $82 million. Shire has also just launched its treatment for rare genetic condition Gaucher’s disease, Vpriv, filling the gap left by Cerezyme, making $29 million in its first quarter on the market.
Angus Russell, chief executive, said: “This was another excellent quarter with strong performance from core product sales, up 39%, driving increases in operating income and earnings per ADS. Shire is performing well on all fronts.”
The company has five products slated for launch in the next 12 months. Vpriv will be launched in the EU, as will Mezavant for ulcerative colitis. Firazyr for treatment of acute attacks of hereditary angiodema will also be available in certain European and Latin American countries.
The final two launches are Equasym for ADHD in certain EU countries. and Vyvanse (Venvanse) for the treatment of ADHD in children in Brazil,
To help bolster its portfolio, Shire has made a move to buy gastroenterology specialist Movetis this week.
Ben Adams
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