Non-exec tops up after Shire share price dip

David Mott, non-executive director of biopharmaceutical giant Shire has topped up his stake in the company through a purchase of American Depositary Receipts (ADRs).

Pharmaceuticals veteran Mott took his holding in Shire up to 25,000 ADRs through the purchase of 5,000 ADRs at a price of $38.6737 each.

Each ADR represents three ordinary shares.

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Mott joined the board of Shire as a non-executive direction in November 2007.

He was formerly Chief Executive Officer and President of US drugs company MedImmune, and banked $286.7m when the company was acquired by AstraZeneca in June 2007.

Mott also served as an executive vice president of AstraZeneca before stepping down at the end of July 2008.

Prior to joining MedImmune Mott was vice president in the Health Care Investment Banking Group at stockbrokers Smith Barney.

His latest purchase of Shire shares follows a poor reaction to the company's full year results last week.

Fourth quarter sales rose by 6% to $770m, while net income for the quarter rose to $185m from $177m.

Analysts suggested that sales of Liadi, for ulcerative colitis, and Elaprase, for Hunter's syndrome, were a bit below expectations.

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