19 Feb 2009
Shire delivers excellent growth for the year, with the new product portfolio achieving sales of $1 billion
February 19, 2009 – Shire plc (LSE: SHP, NASDAQ: SHPGY) the global specialty biopharmaceutical company announces results for the year to December 31, 2008 – a year which has seen significant growth in Shire’s new product portfolio.
Shire has delivered a strong performance in 2008:
- Non GAAP diluted earnings per ADS up 36%; - New Product Sales up 110% to $1.0 bn;
- New Product Sales representing 36% of total product sales, up from 22% last year; and
- Strong operating cash generation and a robust balance sheet.
Angus Russell, Chief Executive Officer, commented:
“2008 saw excellent growth across the business. 2009 will see continued momentum in our business as we drive growth in existing products, pursue launches of new products and continue to develop our strong pipeline of drugs. The growth from our existing new products and our well established pipeline will be enhanced by our strategy to generate incremental returns and growth through targeted acquisitions. We will support this by continued careful management of our robust balance sheet, a focus on cash generation and flexible management of our cost base."
“We reiterate the earnings guidance framework for 2009 published in our third quarter earnings statement, and our aspiration of growing sales in the mid teens range on average between 2009 and 2015. We look forward confidently to the future.”
Angus Russell, Chief Executive Officer, Graham Hetherington, Chief Financial Officer, Mike Cola, President, Specialty Pharmaceuticals and Sylvie Grégoire, President, Human Genetic Therapies will host the investor and analyst meeting and conference call at 14:00 GMT/9:00 EST.