Dublin-headquartered Shire has forecast higher earnings after the maker of drugs for rare diseases and attention deficit hyperactivity disorder got hold of new medicines through its acquisition of NPS Pharmaceuticals.
Shire’s non-GAAP diluted earnings per American depositary share will rise by a “mid-single” digit percentage in 2015, the company said in a statement on Thursday.
In the past year, earnings rose 38 per cent on that basis.
The drugmaker agreed to buy NPS last month to expand its portfolio of rare-disease treatments.
The $5.2 billion transaction has already started to pay off with NPS winning US approval on January 23rd for Natpara, a drug to control low blood calcium levels related to hypoparathyroidism.
Shire is seeking to boost growth after its proposed $52 billion sale to AbbVie. collapsed last year, and will continue buying companies to become a leader in the biotech industry, chief executive Flemming Ornskov has said.
The company expects product sales growth in mid-to-high single digits in 2015, excluding currency shifts.
The current pipeline of experimental drugs will add $3 billion to revenue by 2020, and total sales will double to $10 billion, the company said in December, before the NPS acquisition.
Shire is registered in Jersey, in the Channel Islands, and based for tax purposes in Ireland. Its primary stock listing is in the UK, while Mr Ornskov and most other top executives have offices in Lexington, Massachusetts.
Bloomberg
