Shire Fourth-Quarter Earnings Exceed Analysts' Expectation
- 2016 earnings per ADS projected to grow by 7% to 10%
- Drugmaker says 14 programs are in or near Phase 3 test stage
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Shire Plc, the drugmaker that agreed to buy Baxalta Inc. for $32 billion last month, posted fourth-quarter earnings that beat analysts’ estimates as it sold more drugs for attention deficit hyperactivity disorder and rare diseases.
Earnings per American depositary shares rose to $2.97, the Dublin-based company said in a statement on Thursday. That compared with the $2.85 average of analyst estimates compiled by Bloomberg. Shire projected that the earnings, following its January acquisition of Dyax Corp., would grow by 7 percent to 10 percent in 2016.