Shire sees strong product sales in first quarter

Pharmaceuticals group Shire has reiterated its expectation of good earnings growth in 2012 after a solid first-quarter performance, with total revenues rising by over a fifth on last year.

Pharmaceuticals group Shire has reiterated its expectation of good earnings growth in 2012 after a solid first-quarter performance, with total revenues rising by over a fifth on last year.

Total revenues in the three months to March 31st jumped by 21% to $1,172m, from $972m in the same period of 2011. Consensus forecasts were for group revenue of $1,148m. Product sales, which account for the majority of group revenues, increased by 24%.

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