Shire to announce double digit earnings growth for 2012
Irish-based pharmaceuticals company Shire is expected to report 'double digit' earnings growth for 2012 on Wednesday.
Irish-based pharmaceuticals company Shire is expected to report 'double digit' earnings growth for 2012 on Wednesday.
Angus Russell, Chief Executive Officer of Shire, will unveil the company's results when he addresses investors at the JP Morgan Healthcare Conference in San Francisco at 11:00 local time.
"Shire is now increasingly confident of meeting current consensus earnings expectations for 2013," the company said in a statement issued yesterday,after the close of trading.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Russell will soon step down after 32 years with the company.
Flemming Ornskov will take over on April 30th following a hand-over period.
"I've enjoyed every day of my time at Shire. I'm very pleased to have been a part of the growth story of this excellent company and to be leaving it in such great shape for further success," Russell had said in last October's announcement of his retirement.
"I'm delighted to hand the leadership over to such a talented and visionary individual. I'll continue to watch the progress of this outstanding organisation in the years ahead."
Shire advanced 1.48% to 1,991.00p ahead of Russell's address and on news the company had acquired Lotus Tissue Repair for an undisclosed sum.
Shire is expected to gain on the acquisition of Lotus, which is focused on developing the first treatment for dystrophic epidermolysis bullosa (DEB), a rare genetic disorder that causes extremely fragile skin and recurrent blister formation.
RD
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published