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Published on 5 August 2010

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Shire announces profit increase

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Drug manufacturer Shire has announced an increase in second-quarter revenues, partly due to production problems experienced at rival drug company Genzyme.

Britain’s third largest drug maker revealed revenues were up 35% over the three-month period to $840 million (£532 million).

According to the latest figures, sales of Replagal, a treatment for rare genetic disease, Fabry, were up 84%.

Sales of the drug reached $82 million (£51.5 million) as people switched to Replagal following production problems with Genzyme’s Fabry medicine, Renagel.

Shire said Replagal costs the company around $200,000 a year (£125,000).

Angus Russell, Shire Chief Executive, said 320 new patients had started taking Replagal in the second quarter, with around three-quarters of them switching from Renagel.

The company also revealed sales of Vpriv, a drug for the rare Gaucher disease, were $28.7 million (£18 million).

Copyright © Press Association 2010

Shire



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