Shire second quarter sales rise 16 per cent

Second quarter sales at clinical research specialist Shire have risen by 16 per cent.

In the three months to June 30th 2012, product sales at the company soared to $1,148 million (£738, 543), while total revenue increased by 14 per cent to $1,208 million.

As well as this, the organisation's non-GAAP operating income jumped by 23 per cent, while its US GAAP operating income rose by seven per cent.

Angus Russell, chief executive officer, said: "The ADHD market in the US is maintaining healthy growth; our lead products VYVANSE and INTUNIV both increased share and we’re advancing our plans for the continued international rollout of both these products."

Mr Russell went on to say that the company's diversified international business also produced higher cash flow during the quarter.

These findings come after Advanced BioHealing altered its name to Shire Regenerative Medicine.

It was bought by Shire in 2011 and aims to develop and deliver solutions to enhance the body's natural healing process.

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