Shire rival gets approval for generic ADHD drug

The FTSE 100 pharma company, Shire, says the US Food and Drug Administration has approved a rival's application to make a generic version of an attention deficit and hyperactivity disorder (ADHD) drug.

Actavis has been given the all clear to manufacture a generic form of Adderall XR.

Shire already makes the drug so the suspicion will be that revenues may be hit but the firm says it "continues to expect to deliver good full-year 2012 earnings growth".

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Today's update adds though that Shire recognises "there will be multiple dynamics affecting the overall market following the approval of the Actavis generic".

In other words, the FDA's decision could prove problematic.

BS