Shire hit by decline in full year operating income

Pharmaceuticals company Shire took a hit on Thursday after admitting that on a US GAAP basis its 2012 operating income fell 14 per cent as it revealed that sales of its Adderall XR product had dropped 19 per cent.

Pharmaceuticals company Shire took a hit on Thursday after admitting that on a US GAAP basis its 2012 operating income fell 14 per cent as it revealed that sales of its Adderall XR product had dropped 19 per cent.

In an otherwise upbeat set of results, the company said sales of Adderall has fallen to $429m, primarily due to lower prescription volumes following the approval of a new generic version of the product in the second quarter of 2012. Reported product sales were also affected by the accounting for the settlement of the Impax Laboratories litigation.

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