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Shire upgrades earnings guidance after Q2 earnings beat

Reuters - UK Focus

LONDON, Aug 3 (Reuters) - London-listed pharmaceutical maker Shire (Xetra: S7E.DE - news) upgraded its forecast for full-year earnings on Thursday as it reported 7 percent growth in second-quarter product sales.

The company said it had upgraded the midpoint of its full-year forecast by 10 cents to $15 after it made stronger-than-expected costs savings from its acquisition of haemophilia specialist Baxalta (Xetra: 9BX.DE - news) last year.

It reported second-quarter revenue of $3.75 billion and non GAAP earnings per ADS of $3.73, up 11 percent and beating a market forecast of $3.60.

(Reporting by Paul Sandle; editing by Jason Neely)