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Shire misses Q2 earnings forecast, raises outlook

Reuters - UK Focus

LONDON, July 23 (Reuters) - Shire (Xetra: S7E.DE - news) , the London-listed maker of drugs to treat hyperactivity and rare diseases, missed market expectations for second-quarter earnings after lower sales of its ADHD drug Intuniv following the introduction of generic competition.

The company reported non-GAAP earnings per share of $2.63 on Thursday, a rise at constant exchange rates, but short of analysts' forecasts of $2.80, on revenue up 9 percent to $1.56 billion.

However, it said it now expected its earnings growth for the year to be in the mid-to-high single digit range, up from its forecast of mid single digits made in April. (Reporting by Paul Sandle; Editing by Neil Maidment)