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Shire posts better-than-expected 13 pct rise in Q4 earnings

Reuters - UK Focus

LONDON, Feb 11 (Reuters) - Shire (NasdaqGS: SHPG - news) , the London-listed drugmaker buying Baxalta International for $32 billion, reported a better-than-expected 13 percent rise in fourth-quarter earnings on Thursday, helped by strong sales of its ADHD treatment Vyvanse.

The London-listed company clinched its biggest acquisition to date in January, with a cash and shares deal to buy the specialist in rare blood conditions, cancers and immune system disorders.

It reported non-GAAP earnings per share for the fourth quarter of $2.97 on revenue up 9 percent to $1.72 billion, both beating analysts' consensus of $2.87 and $1.70 billion, respectively.

It said that excluding the contribution from Baxalta (Berlin: 9BX.BE - news) , it expected to generate double digit top line growth and a 7 to 10 percent increase in earnings in 2016. (Reporting by Paul Sandle; editing by Sarah Young)