Britain’s third largest drug maker Shire, reporting better than expected results with an increase of 23 percent in the profit margins, helped by reduced drug rebates in the United States.
Net income of company jumped to $174.3 million against the $141.3 million over the year. Revenue of the company reached to 4893.3 million against the $765.8 million over the same period of previous financial year major increase was from the Vyvanse which recorded an increase of 41 percent.
During the quarter company shifting more its focus to its human-genetics unit, which got a boost when its velaglucerase alfa drug was rushed to the market a year earlier than planned with approval of Food and Drug Administration.
For the first quarter of 2010 company expects its revenue and earnings per share will be lower than in the same period of previous financial year. Company is focusing its efforts for boosting its portfolio.