ARTICLE | Financial News

Shire beats Street

October 30, 2010 12:55 AM UTC

Shire plc (LSE:SHP; NASDAQ:SHPGY) reported non-GAAP diluted earnings per ADS of $1.16, beating by $0.19 the Street's estimate of $0.97 and up from $0.49 in 3Q09. Third quarter revenues were $874 million, up 31% from $667 million in the prior year's quarter, and above the Street's estimate of $844.2 million. Sales of Fabry's disease drug Replagal agalsidase alfa rose 91% to $92.1 million, which Shire attributed to an increase in patients switching to Replagal in Europe following a shortage of the only other approved enzyme replacement therapy, Fabrazyme agalsidase beta from Genzyme Corp. (NASDAQ:GENZ). Shire increased its 2010 earnings per ADS guidance to $4.20 from $4. ...