Shire's new drugs offset slumping Adderall in 3rd quarter 2009

Shire, the UK's third largest drugmaker, posted revenues from continuing operations for the three months to September 30, 2009 down 14% to $667.0 million (2008: $778.6 million), due to the decline in branded Adderall XR (amphetamine and dextroamphetamine), used to treat narcolepsy and attention deficit hyperactivity disorder (ADHD), following the launch of an authorized generic version by Teva in April 2009. However, core product sales increased by 20% to $531.6 million, noted the company, which saw its share price rise 4.7% to £10.72 on the day of the announcement, October 30.

Non GAAP operating income decreased 52% to $133.6 million. Increased revenues from core products, combined with lower selling, general and administrative expenses achieved through continued focus on cost management partially offset the impact of lower revenues from Adderall XR and increased investment in R&D, in part reflecting the Santaris collaboration up-front costs and the acceleration of the velaglucerase program, said Shire.

Product sales including Adderall XR, were down 15% to $603 million, as the Adderall range slumped 74% $71 million. Vyvanse (lisdexamfetamine) turnover jumped 34% to $129 million, Lialda/Mezavant (mesalamine) was up 62% to $65 million, Elaprase (idursulfase) increased 16% to $91 million and turnover of Replagal (agalsidase alfa) advanced 8% to $48 million.