Shire plc (SHPG) Tops Q4 EPS by 8c, Provides Outlook

Shire plc (NASDAQ: SHPG) reported Q4 EPS of $2.97, $0.08 better than the analyst estimate of $2.89. Revenue for the quarter came in at $1.72 billion versus the consensus estimate of $1.69 billion.

Flemming Ornskov, M.D. Chief Executive Officer, commented:

“In 2015, we significantly advanced our strategy to become a leading global biotechnology company focused on rare diseases and other specialty conditions. We executed significant acquisitions to deliver best-in-class therapies in our core therapeutic areas, further strengthened our position in rare diseases, and advanced our innovative dry eye treatment, lifitegrast, including the recent FDA acceptance of our NDA resubmission.

As we transformed our business in 2015, we also achieved record full year revenue and strong Non GAAP diluted earnings per ADS growth. I am particularly pleased with our top and bottom-line growth, delivered while we continued our investment in future growth drivers. Importantly, we again demonstrated our ability to accelerate the growth of rare disease assets that we have acquired, most recently with NPS.

Our continued focus on innovation has resulted in Shire entering 2016 with the most robust pipeline in its history, now with 14 programs either in Phase 3 or Phase 3 ready, and with the acquisition of Dyax and the planned combination with Baxalta, we are positioned for global leadership in rare diseases.

We expect to deliver strong results in 2016 as we anticipate generating double digit topline growth and a 7% to 10% increase in Non GAAP diluted earnings per ADS, while continuing to invest behind lifitegrast, Dyax and our pipeline. Our 2016 outlook includes the effect of the Dyax acquisition but excludes the effect of the announced combination with Baxalta.”

For earnings history and earnings-related data on Shire plc (SHPG) click here.

You May Also Be Interested In

• Intuitive Surgiical (ISRG) beats earnings, revenue expectations in Q1
• Cyngn Inc (CYN) CEO Issues Business Update
• Community West Bancshares (CWBC) Tops Q1 EPS by 7c