Shire posts 41% rise in 2007 sales; sees good prospects for Vynase
Shire, the UK's third-largest pharmaceutical company, has reported a healthy set of fourth-quarter and full-year 2007 results. The news lifted the firm's share price, which has fallen nearly a quarter on investors' concerns about the sales performance of Shire's latest attention-deficit hyperactivity drug Vyvanse (lisdexamfetamine dimesylate), which chief executive Matthew Emmens expects to see first full-year turnover of $350.0-$400.0 million.
Several analysts downgraded Shire's stock, believing that sales of Vyvanse would be lower than expected, but now see that the figures are good, noting that the company has given a bullish guidance on the new product.
The team at Lehman Brothers says that the head-line fourth-quarter sales of Vyvanse, at $66.0 million, were considerably ahead of its own and consensus estimates of $30.0 million, although suggesting that this is reported to be due to increased wholesaler stocking.
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