Shire meets Street

Shire (LSE:SHP; SHPGY) posted third quarter non-GAAP earnings per ADS of $0.50, meeting the Street estimate and up 16% from $0.43 in the same period last year. Results for the third quarter of 2003 were restated to reflect the sale of SHP's vaccines business to ID Biomedical (TSE:IDB; IDBE), which was completed this September. Net income for the quarter was $77 million, up 19% from $64.6 million in the same period last year.

Revenues increased 22% quarter over quarter to $344.9 million from $283.4 million. Sales of Adderall XR, a once-daily formulation of SHP's ADHD drug Adderall, came in at $140.1 million, up 16% from $121.3 million in the third quarter of 2003. ...