UPDATE: Shire Aims To Grow Sales In Mid-Teens Range By 2015
Tuesday November 18th, 2008 / 17h20
(Adds detail) By Elena Berton Of DOW JONES NEWSWIRES LONDON -(Dow Jones)- Shire PLC (SHPGY) Tuesday announced it aims to grow sales within a mid-teens percentage range on average from 2009 through 2015 - news issued ahead of an investors' update on its rare diseases unit, Human Genetic Therapies. "We see this business as a very significant growth driver for Shire," Chief Executive Angus Russell said in a statement. The U.K.'s third-largest drugmaker said it expects HGT to contribute to 30% of total sales in 2015, compared with 18% in 2008, as it reduces its reliance on hyperactivity drugs. Basingstoke, England-based Shire stepped into the market for rare genetic diseases with the 2005 acquisition of U.S. biotech company Transkaryotic Therapies Inc. It further boosted its portfolio of drugs for rare diseases with the takeover of German biotech Jerini AG in July 2008. Shire currently markets Replagal for Fabry's disease and Elaprase for Hunter syndrome, an inherited condition characterized by the gradual deterioration of the brain and body, as well as Firazyr, sold in Europe to the treatment of angioedema. This rare inherited disease affects blood vessels, causing rapid swelling of the hands, feet and face. The U.K.'s third-largest drugmaker also said Tuesday it aims to derive 50% of sales from outside the U.S., split between main European markets - such Germany, France, Italy, Spain, U.K. and France - and the remainder of the world. At 1554 GMT shares, which have lost around 17% of their value in the past 12 months, were trading up 5%, or 44 pence, at 916 pence in a higher London market. Company Web site: www.shire.com -By Elena Berton, Dow Jones Newswires; 44 20 7842 9267; elena.berton@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=ca%2BNpgo7zosg6xjniF472A%3D%3D. You can use this link on the day this article is published and the following day.
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