Shire plc (SHPG) Tops Q1 EPS by 34c, Sales In-Line

Shire plc (NASDAQ: SHPG) reported Q1 EPS of $3.63, $0.34 better than the analyst estimate of $3.29. Revenue for the quarter came in at $3.57 billion versus the consensus estimate of $3.57 billion.

"In the first quarter we delivered strong top-line growth with quarterly product sales of $3.4 billion. I am especially pleased to see that our sales growth came from across our broad portfolio, with genetic diseases growing 14%, our recently launched XIIDRA product achieving a 22% market share and the Baxalta business growing at 8% on a pro forma basis. We also improved our operational efficiency, and are ahead of plan on integrating Baxalta.

"Our priorities for the rest of 2017 remain unchanged: launching new products while driving commercial excellence, generating operational efficiencies, and advancing our pipeline of novel therapies. Additionally, we continue to prioritize paying down debt, and we are on track to achieve our full-year financial guidance.

"Looking ahead, I see tremendous opportunity for further growth as we continue to build on our position as the global leader in treating patients with rare diseases."

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

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