Shire's Net Income Drops Sharply in Fourth Quarter
12 February 2016 - 12:30AM
Dow Jones News
Shire PLC said fourth-quarter net income dropped sharply against
a tough year-earlier comparison, though revenue rose thanks largely
to strong sales growth of its attention-deficit-hyperactivity
disorder drug Vyvanse.
Dublin-based Shire posted revenue of $1.72 billion in the
fourth-quarter of the year, compared with $1.58 billion in the same
period of 2014. It said net income fell 87% to $281 million, though
the year-earlier figure of $2.2 billion was boosted by a $1.6
billion breakup fee from AbbVie Inc. Analysts had expected revenue
of $1.7 billion and net income of $487 million.
Operating income, which strips out certain one-time items,
increased 17% to $764 million, as revenue growth eclipsed increases
in research and administrative expenses.
The company's best-selling ADHD drug Vyvanse generated $453
million in revenue in the fourth-quarter, up 18% from a year
earlier. The drug was primarily approved for treating ADHD but last
year was authorized for use in binge-eating disorder, a newly
recognized psychiatric condition.
Write to Denise Roland at Denise.Roland@wsj.com
(END) Dow Jones Newswires
February 11, 2016 08:15 ET (13:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Shire Plc ADS, Each Representing Three Ordinary Shares (NASDAQ:SHPG)
Historical Stock Chart
From Apr 2024 to May 2024
Shire Plc ADS, Each Representing Three Ordinary Shares (NASDAQ:SHPG)
Historical Stock Chart
From May 2023 to May 2024
Real-Time news about Shire Plc ADS, Each Representing Three Ordinary Shares (NASDAQ): 0 recent articles
More Shire Plc ADS, Each Representing Three Ordinary Shares (MM) News Articles