This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Shire's CEO Discusses Q1 2012 Results - Earnings Call Transcript

Stocks in this article: SHPGY

Our speakers today are Angus Russell, Graham Hetherington, Sylvie Gregoire and Jeff Jonas. Kevin Rakin will also be available for Q&A.

Before we begin, I would refer you to Slide 2 of our presentation and remind you that any statements made during this call, which are not historical statements, will be forward-looking statements and as such will be subject to risks and uncertainties which, if they materialize, could materially affect our results.

Today's agenda is as follows: We begin with opening remarks of Shire's performance and highlights from Angus. Sylvie will give an HGT business update. Graham will continue with a financial review, and Jeff Jonas will give a pipeline update for the Specialty Pharma and Regenerative Medicine businesses, including positive top line safety results for VYVANSE and binge eating disorder. Angus will then make closing remarks, and we'll open up for your questions.

[Operator Instructions] Our Investor Relations team will be more than happy to follow up offline for any subsequent questions.

And now I'll hand over the call to our CEO, Angus Russell.

Angus C. Russell

Thanks, Eric. Hi, everyone. So turning to Page 5, let me start by just summarizing these results overall. So once again, had a very strong quarter, very strong growth coming from a balanced product portfolio. You can see a consistent performance here. Overall product sales up 24% to $1.1 billion in the quarter, and total revenues up 21%.

We turn to the next slide, Slide 6. You can see the same consistent performance reflected in both the operating income and the diluted earnings per ADS. Operating income on a non-GAAP basis up 18% to $362 million, and non-GAAP diluted earnings per ADS up 20% to $1.48.

I'll now turn to some of the business highlights in the Specialty Pharma and Regenerative Medicine businesses, starting on Slide 7. VYVANSE grew very strongly again in this quarter. U.S. prescriptions grew 23% over the same quarter last year. We're now running at something like 16.8% market share. That's a gain of 1.7% versus the same period last year.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs