Shire suffers on revenue admission; announces division

9 January 2018

Ireland-headquartered drugmaker Shire (LSE: SHP) slipped by nearly 6% in Monday’s trading after the company presented a business update at the JP Morgan Healthcare Conference.

Total revenues are now projected to reach between $17 billion and $18 billion by 2020, below the previous target of $20 billion, the company announced.

The outcome of the first stage of a review of Shire’s neuroscience business was also revealed, with the board concluding that it warrants additional focus and investment, and that there is a strong case for creating two distinct business divisions within Shire.

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