Shire sees double-digit growth in first quarter

Shire has posted double-digit increases in its sales and revenue performance for the first quarter of 2011.

The company's product sales total grew by 24 percent year on year to $889 million (539.73 million pounds), while its revenue figure advanced 19 percent to $972 million.

This strong growth was driven in large part by the performance of its ADHD drugs Vyvanse, Intuniv and Adderall XR, as well as the rare disease therapies Replagal and Vpriv.

Meanwhile, Shire was also able to make progress in the development of its pipeline, receiving positive regulatory decisions on drugs such as Firazyr, while producing encouraging data on potential new Vyvanse applications.

Angus Russell, chief executive officer of Shire, said: "We have made a strong start to 2011, which underpins our previously stated financial guidance."

This comes after the company delivered its best ever financial performance in 2010, in which it surpassed $3 billion in annual product sales for the first time.