HAllo,
Shire Pharmaceuticals Grp Plc (NASDAQ NM:SHPGY) rechnet noch im 1 Qartal 2001 mit der zulassung von Reminyl in den USA durch die FDA !!!!
Shire said it expected to win final U.S. regulatory approval for its Reminyl drug for Alzheimer's disease in the first quarter of 2001 with launch in the U.S. in the second quarter (REUTERS)
gesammte Meldung:
UPDATE 2-Shire doubles profit as merger advances
WEDNESDAY, FEBRUARY 14, 2001 9:51 AM
- Reuters
(Recasts lead, updates with further analyst comment)
By Ben Hirschler, European Pharmaceuticals Correspondent
LONDON, Feb 14 (Reuters) - Specialty drugmaker Shire Pharmaceuticals Group Plc on Wednesday reported a doubling of profits in 2000 and said its merger with Canada's BioChem Pharma (NYSE:BCH) had cleared two key regulatory hurdles.
The acquisitive UK company said income before tax and exceptionals rose 102 percent to $138.1 million on turnover up 29 percent at $517.6 million as its top medicine for hyperactive children continued to sell well, despite mounting competition.
Analysts said the figures, which benefited from an $8 million one-off legal settlement, were at the top end of expectations but contained no real surprises. Shire shares slipped back 2.77 percent to 13.00 pounds by 1448 GMT as investors booked profits after a run-up in recent days.
Sally Bennett, pharmaceuticals analyst at ING Charterhouse, said sales growth had been in line, although profits were ahead of her expectations as lower-than-expected costs lifted margins.
A second analyst commented: "The market seems to be letting off steam. There's nothing wrong with the figures but there's nothing to inspire either."
Chief Executive Rolf Stahel said the merger with BioChem was progressing well and he expected the $4 billion deal to close in the early part of the second quarter, after winning the green light from Canadian and U.S. anti-trust regulators.
Sales of flagship products Adderall and DextroStat, for attention deficit hyperactivity disorder (ADHD), jumped 49 percent, giving the two products a 36 percent share of the U.S. market for the condition.
In the key fourth quarter -- when Shire faced competition from Alza Corp's (NYSE:AZA) rival ADHD product, Concerta -- Adderall sales grew 22 percent from the previous year to $55.1 million.
Stahel -- anxious to prove that the strong fourth quarter was not a one-off -- said overall product sales, and Adderall in particular, had continued to record "excellent" growth in the early weeks of 2001.
Nonetheless, Shire is seeking to reduce reliance on Adderall with its rapid expansion programme.
EYEING FURTHER DEALS
Shire, which is also listed on Nasdaq (NASDAQ NM:SHPGY), won a coveted place in the FTSE 100 index of blue chips last October -- but its ambitions do not stop there. Stahel said he was actively seeking to acquire marketed products and development projects to enhance growth and make Shire a world leader among specialty pharmaceutical groups.
Stahel said in an interview that Japan was a priority for further acquisitions but cautioned that its chances of pulling off a deal were limited.
"We'd love to have a subsidiary in Japan early -- we've made no secret of that. The chances of success after the merger (with BioChem) have gone up to about 25 percent, which means it is still pretty challenging to get it done," he said.
The acquisition of BioChem Pharma, which was announced in December, will create a powerfully cash-generative business, helped by the addition of BioChem's HIV drug lamivudine, or 3TC.
Shire shares lost as much as a quarter of their value in the wake of the BioChem takeover announcement as investors feared Stahel was overpaying. The stock has since recovered, however, and is now higher than it was before the deal was unveiled.
Shire said it expected to win final U.S. regulatory approval for its Reminyl drug for Alzheimer's disease in the first quarter of 2001 with launch in the U.S. in the second quarter.
Rtr 09:51 02-14-01 Copyright 2001, Reuters News Service
Shire Pharmaceuticals Grp Plc (NASDAQ NM:SHPGY) rechnet noch im 1 Qartal 2001 mit der zulassung von Reminyl in den USA durch die FDA !!!!
Shire said it expected to win final U.S. regulatory approval for its Reminyl drug for Alzheimer's disease in the first quarter of 2001 with launch in the U.S. in the second quarter (REUTERS)
gesammte Meldung:
UPDATE 2-Shire doubles profit as merger advances
WEDNESDAY, FEBRUARY 14, 2001 9:51 AM
- Reuters
(Recasts lead, updates with further analyst comment)
By Ben Hirschler, European Pharmaceuticals Correspondent
LONDON, Feb 14 (Reuters) - Specialty drugmaker Shire Pharmaceuticals Group Plc on Wednesday reported a doubling of profits in 2000 and said its merger with Canada's BioChem Pharma (NYSE:BCH) had cleared two key regulatory hurdles.
The acquisitive UK company said income before tax and exceptionals rose 102 percent to $138.1 million on turnover up 29 percent at $517.6 million as its top medicine for hyperactive children continued to sell well, despite mounting competition.
Analysts said the figures, which benefited from an $8 million one-off legal settlement, were at the top end of expectations but contained no real surprises. Shire shares slipped back 2.77 percent to 13.00 pounds by 1448 GMT as investors booked profits after a run-up in recent days.
Sally Bennett, pharmaceuticals analyst at ING Charterhouse, said sales growth had been in line, although profits were ahead of her expectations as lower-than-expected costs lifted margins.
A second analyst commented: "The market seems to be letting off steam. There's nothing wrong with the figures but there's nothing to inspire either."
Chief Executive Rolf Stahel said the merger with BioChem was progressing well and he expected the $4 billion deal to close in the early part of the second quarter, after winning the green light from Canadian and U.S. anti-trust regulators.
Sales of flagship products Adderall and DextroStat, for attention deficit hyperactivity disorder (ADHD), jumped 49 percent, giving the two products a 36 percent share of the U.S. market for the condition.
In the key fourth quarter -- when Shire faced competition from Alza Corp's (NYSE:AZA) rival ADHD product, Concerta -- Adderall sales grew 22 percent from the previous year to $55.1 million.
Stahel -- anxious to prove that the strong fourth quarter was not a one-off -- said overall product sales, and Adderall in particular, had continued to record "excellent" growth in the early weeks of 2001.
Nonetheless, Shire is seeking to reduce reliance on Adderall with its rapid expansion programme.
EYEING FURTHER DEALS
Shire, which is also listed on Nasdaq (NASDAQ NM:SHPGY), won a coveted place in the FTSE 100 index of blue chips last October -- but its ambitions do not stop there. Stahel said he was actively seeking to acquire marketed products and development projects to enhance growth and make Shire a world leader among specialty pharmaceutical groups.
Stahel said in an interview that Japan was a priority for further acquisitions but cautioned that its chances of pulling off a deal were limited.
"We'd love to have a subsidiary in Japan early -- we've made no secret of that. The chances of success after the merger (with BioChem) have gone up to about 25 percent, which means it is still pretty challenging to get it done," he said.
The acquisition of BioChem Pharma, which was announced in December, will create a powerfully cash-generative business, helped by the addition of BioChem's HIV drug lamivudine, or 3TC.
Shire shares lost as much as a quarter of their value in the wake of the BioChem takeover announcement as investors feared Stahel was overpaying. The stock has since recovered, however, and is now higher than it was before the deal was unveiled.
Shire said it expected to win final U.S. regulatory approval for its Reminyl drug for Alzheimer's disease in the first quarter of 2001 with launch in the U.S. in the second quarter.
Rtr 09:51 02-14-01 Copyright 2001, Reuters News Service
