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Shire earnings rise on strong Vyvanse demand

Reuters - UK Focus

LONDON, April 29 (Reuters) - Strong demand for hyperactivity treatment Vyvanse helped lift first-quarter earnings 12 percent at Shire (Xetra: S7E.DE - news) , the London-listed drugmaker that is buying U.S (Other OTC: UBGXF - news) . rare diseases firm Baxalta (Berlin: 9BX.BE - news) for $32 billion.

Quarterly non-GAAP earnings per share of $3.19 on revenue up 17 percent to $1.71 billion compared with analysts' consensus forecasts of $3.05 and $1.69 billion, respectively, the company said on Friday.

"Shire is off to a strong start in 2016," said CEO Flemming Ornskov.

Shire said the proposed combination with Baxalta was on track with shareholder votes set for May 27 and deal closure expected in early June 2016. (Reporting by Kate Holton; editing by Sarah Young)