Shire revenue dips after generic Adderall hit
pharmafile | April 30, 2010 | News story | Sales and Marketing | Adderall, Fabrazyme, Gaucher's, Shire
Shire’s first quarter revenues fell by 5% after its ADHD treatment Adderall XR succumbed to generic competition from Teva.
This dragged product sales down to £718 million for the UK-based speciality biopharma company, despite a 36% increase in what Shire termed its core (non-Adderall) product sales.
All these products achieved high sales growth, including ADHD treatment Vyvanse, up 32% to £154m, and Replagal, up 69% to $68m.
But Adderall XR, as predicted by Shire, was the biggest loser with a decrease in sales of 69% to $92m compared to 2009.
Shire’s chief executive Angus Russell said: “This was an excellent first quarter performance with our core product sales up 36% and cash generation increasing 19% to $278 million. Despite the impact of authorised generic Adderall XR, total reported revenues in the quarter were at 2009 levels, reflecting our success in replenishing our portfolio with products providing strong growth and robust intellectual property.
“Across the business we saw significant developments: Vyvanese now has approximately a 14% share of the US ADHD market, our two recently launched hyperactivity disorder products Vpriv and Intuniv are performing well and in the EU Replagal is now the leading Fabry treatment, with an estimated 60% market share.”
For the future Russell said that: “We are investing in our growing international presence and building on our recent product launches [and] we are also progressing our pipeline.”
Shire is hopeful for a series of launches this year including: Gaucher disease treatment Vpriv in the EU, Replagal in the US and Equasym for ADHD in certain EU countries.
The company has recently received a boost thanks to manufacturing problems at US rival Genzyme that have caused drug shortages for two rare conditions. This has caused a number of patients with Gaucher’s disease and Fabry disease to switch to Shire’s Vpriv and Replagal treatments.
Shire re-iterated its target of mid-teens revenue growth on average between 2009 and 2015.
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