Shire stock jumps as it flexes its muscles in rare diseases

Ireland-incorporated drugmaker Shire (LSE: SHP) closed 3.7% higher at £5,087 on Thursday after it showcased a strong rare diseases pipeline and commercial portfolio in an investor day.

The company’s share price had already jumped by nearly 8% among many other pharma stocks in the wake of the US election result, and investors were clearly further impressed by what Shire was able to boast in its spotlight on rare diseases.

Shire’s immunology and hematology franchises were shown off in the showcase. In July, the company announced that its $32 billion takeover of Baxalta would make it the world's leading biotech focused on serving patients with rare diseases and other highly specialized conditions. Despite this, Shire's shares slipped when its sales missed estimates in its third quarter results, the first full period with Baxalta, which were announced last month.