Shire strides ahead with strong annual and 4th-qtr results

In its fourth quarter and full year financial results statement, Ireland-incorporated Shire (LSE: SHP) posted stronger-than-expected sales and profits today, resulting in a 2.5% jump in the company’s share price.

The company missed analysts’ expectations in the third quarter of last year, largely due to the absorption of costs related to its $32 billion takeover of American biotech firm Baxalta.

In the fourth quarter of 2016 Shire achieved revenues of $3.8 billion, up 122% from the year earlier, following generally accepted accounting principles (GAAP). Net income was $457 million, an increase of 63%. Earnings per share (EPS) stood at $1.51.