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Shire delivers strong first-quarter earnings beat

Reuters - UK Focus

LONDON, April 30 (Reuters) - Pharmaceutical company Shire posted a better-than-expected 20 percent rise in first-quarter earnings on Thursday, boosted by strong sales of Vyvanse, its drug for hyperactivity that was also approved to treat binge eating earlier this year.

Shire (Xetra: S7E.DE - news) posted non-GAAP earnings per share of $2.84, beating a market consensus of $2.60, on revenue up 11 percent to $1.49 billion.

The Dublin-based group, which also makes medicines for rare diseases, said it was confident about its outlook, given in February, of mid-single digits earnings growth for the year.

It also appointed Jeff Poulton as its chief financial officer, a position he had filled on an interim basis since December. (Reporting by Paul Sandle; editing by Sarah Young)