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Baxalta worries hit strong Shire

Following a strong set of financial results, the outlook is looking good for Shire
February 12, 2016

Speciality pharma group Shire (SHP) beat consensus fourth-quarter sales forecasts to deliver a strong set of full-year results. Chief executive Flemming Ornskov called the reported period "a standout year in Shire's history", bookended by revenue-enhancing acquisitions.

IC TIP: Buy at 3611p

Top-line growth was driven by a strong performance from existing products, particularly attention deficit hyperactivity disorder (ADHD) drug Vyvanse, sales of which were boosted thanks to an additional US approval for the drug to treat binge-eating disorders. The group also benefited from $58m (£40m) of sales from rare diseases company NPS Pharmaceuticals, which was acquired last February.

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