Shire misses Street

Shire (LSE:SHP; SHPGY) posted first quarter 2005 non-GAAP earnings per ADS of $0.33, down 35% from $0.51 in the prior year's quarter and missing the Street consensus estimate by $0.04. Revenues for the first quarter were $333.7 million, up 3% from $323.6 million in 2004. First quarter sales of ADHD drug Adderrall XR were up 4% to $145.5 million. Sales of Agrylin/ Xagrid anagrelide to treat essential thrombocythemia were down 17% from the prior year's quarter to $32 million. SHP said wholesaler de-stocking reduced sales of both drugs. In addition, Agrylin sales reflect provisions for returns following the approval of generic competitors shortly after the quarter end. ...