Shire plc: Guidance Update
DUBLIN, January 14, 2014 /PRNewswire/ --
Shire plc (LSE: SHP, NASDAQ: SHPG)
Dr. Flemming Ornskov, Chief Executive Officer of Shire, will address investors today, Tuesday, January 14, 2014, at the JP Morgan Healthcare Conference in San Francisco. In his address he will confirm that Shire finished 2013 strongly, having successfully performed a strategy shift and introduced greater operational discipline. Shire now expects to deliver Non GAAP EPS growth at the upper end of the mid-to-high teens guidance range that was given at its Q3 2013 results (October 24, 2013).
As we look forward, Shire remains confident of delivering Non GAAP EPS for 2014 in line with the November 2013 consensus forecast[(1)] (excluding ViroPharma). Shire will update its 2014 guidance during the Q4 2013 earnings call on February 13, 2014. During this call Shire will also outline the accretive benefits of the ViroPharma acquisition, if the deal has closed at that point.
Flemming's presentation will be webcast live today, Tuesday, January 14, 2014 at 07:30 am Pacific Time (15:30 GMT).
Investors can access the live webcast here:
(1) Based on the 2014 consensus estimates compiled by Consensus Forecast Ltd, posted on Shire.com on November 11, 2013, of $8.54 Non GAAP diluted earnings per ADS for the year ended December 31, 2014, included on Shire's website (http://www.shire.com/shireplc/en/investors/forecasts).
NOTES TO EDITORS
Shire enables people with life-altering conditions to lead better lives.
Our strategy is to focus on developing and marketing innovative specialty medicines to meet significant unmet patient needs.
We provide treatments in Neuroscience, Rare Diseases, Gastrointestinal, Internal Medicine and Regenerative Medicine and we are developing treatments for symptomatic conditions treated by specialist physicians in other targeted therapeutic areas.
FORWARD - LOOKING STATEMENTS - "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
Statements included in this announcement that are not historical facts are forward-looking statements. Forward-looking statements involve a number of risks and uncertainties and are subject to change at any time. In the event such risks or uncertainties materialize, Shire's results could be materially adversely affected. The risks and uncertainties include, but are not limited to, that:
- Shire's products may not be a commercial success;
- revenues from ADDERALL XR are subject to generic erosion;
- the failure to obtain and maintain reimbursement, or an adequate level of reimbursement, by third-party payers in a timely manner for Shire's products may impact future revenues and earnings;
- Shire relies on a single source for manufacture of certain of its products and a disruption to the supply chain for those products may result in Shire being unable to continue marketing or developing a product or may result in Shire being unable to do so on a commercially viable basis;
- Shire uses third party manufacturers to manufacture many of its products and is reliant upon third party contractors for certain goods and services, and any inability of these third party manufacturers to manufacture products, or any failure of these third party contractors to provide these goods and services, in each case in accordance with its respective contractual obligations, could adversely affect Shire's ability to manage its manufacturing processes or to operate its business;
- the development, approval and manufacturing of Shire's products is subject to extensive oversight by various regulatory agencies and regulatory approvals or interventions associated with changes to manufacturing sites, ingredients or manufacturing processes could lead to significant delays, increase in operating costs, lost product sales, an interruption of research activities or the delay of new product launches;
- the actions of certain customers could affect Shire 's ability to sell or market products profitably and fluctuations in buying or distribution patterns by such customers could adversely impact Shire's revenues, financial conditions or results of operations;
- investigations or enforcement action by regulatory authorities or law enforcement agencies relating to Shire's activities in the highly regulated markets in which it operates may result in the distraction of senior management, significant legal costs and the payment of substantial compensation or fines;
- adverse outcomes in legal matters and other disputes, including Shire's ability to obtain, maintain, enforce and defend patents and other intellectual property rights required for its business, could have a material adverse effect on Shire's revenues, financial condition or results of operations;
and other risks and uncertainties detailed from time to time in Shire's filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K.
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SOURCE Shire plc