Shire plc updates progress in presentation; sees product sales targets of $6.5 bln by 2016 and $10 bln by 2020
- Shire is delivering a presentation today setting out the continued progress in executing its strategy, which centers on delivering innovative therapies for significant unmet need in Rare Diseases and other high-value specialty indications.
- The Company is providing new, long-term, financial targets which highlight the significant potential for shareholder value creation.
- From 2013 to 2020 Shire is targeting sustainable product sales growth leading to annual product sales (excluding the impact of any additional M&A, licensing and certain recent acquisitions) of US$10 bln by 2020, comprising US$7 bln from in-line product sales and US$3 bln in sales from existing pipeline products. In the medium term Shire is also targeting annual product sales of US$6.5 bln by 2016.
- The Board believes that Shire's focused growth strategy and efficient cost base will continue to deliver significant shareholder value and patient benefits.day's presentation includes the following additional information in relation to Shire's risk adjusted financial targets and non-risk adjusted sales forecasts for selected key pipeline products:
- Product sales targets of $6.5 bln by 2016 and $10 bln by 2020
- Double-digit compound annual product sales growth from the current portfolio through 2020 (excluding the impact of M&A, in-licensing and pipeline development from certain recent transactions).
- Rare Diseases business unit sales of over US$3 bln by 2020; Neuroscience business unit sales of over US$3 bln by 2020.
- GI business unit sales of over US$1.3 bln by 2020; Lifitegrast product sales in 2020 of in excess of US$1 bln.
- SHP465 product sales in 2020 of approximately US$500 mln (unrisked[6]); SHP607 (PREMIPLEX®) product sales in 2020 of in excess of US$500 mln (unrisked[6]); LDX product sales (as a treatment of Binge Eating Disorder) in 2020 of approximately US$300 mln (unrisked[6])
- Pipeline intrathecal programs product sales in 2020 of approximately $400 mln
- Peak sales potential (unrisked) for LUM001 and LUM002 of in excess of US$3 bln in total; and Peak sales potential (unrisked) for the innovative pipeline of over $7 bln.