Shire stock jumps as it flexes its muscles in rare diseases

10 November 2016

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.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK