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21 September, 2015
Shares in Shire (SHP) are the wining the race to the top of the UK Index this morning as investors cheer news that its Intuniv drug has been awarded European approval for use as a non-stimulant drug for Attention Deficit Hyperactivity Disorder (ADHD) in children and adolescents (6-17yrs old ) from whom stimulants are unsuitable. Traders obviously hope new indication for Intuniv can help replace some of the lost sales (Q2 -90%) since the drug went off-patent and began suffering generic competition in Dec 2014 and June this year. ADHD is a key area for Shire with Vyanase its best-selling drug at present (2014 sales $1.5bn) and Adderall, the blockbuster that made it famous, still generating decent revenues (2014 $400m) and royalties. Continued progress by Shire in ADHD keeps it ahead of game to develop the next preferred treatment, to help it recapture lost market share to what is inevitable generic competition over time.
Mike van Dulken, Head of Research
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