Shire Plays Up Xiidra Launch, Downplays Missed Sales Expectations
Launched in August for dry eye disease, Xiidra already has seen nearly 65,000 prescriptions written and has captured 16% market share in the US. Overall quarterly sales came in below Wall Street expectations for Shire, but the firm says it was a strong quarter of execution.
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Company outlines manufacturing streamlining and efficiency effort that it expects to add significant cost savings above synergies anticipated from merger with Baxalta.
The merger with Baxalta left Shire a portfolio consisting of 80% rare disease therapies, suggesting logically that the company might want to exit the primary care ADHD space.
Shire's CEO says he sees scientific and technological advances as an opportunity to become the leading rare disease company. Ornskov also talked about the firm's debt-reduction and M&A strategy going forward.