Home » Shire First-Quarter Profit Falls 73 Percent on Higher Costs
Shire First-Quarter Profit Falls 73 Percent on Higher Costs
Shire Pharmaceuticals Group Plc, the UK's third-biggest drugmaker, said first-quarter profit fell 73 percent after it spent more on research and marketing. Net income fell to $20.5 million, or 4.1 cents a share, from $74.6 million, or 14.7 cents, in the year-earlier period, Basingstoke, England-based Shire said in a statement. Revenue rose 3 percent to $333.7 million. Shire had been expected to earn $27.5 million, according to the median estimate of six analysts surveyed by Bloomberg News.
Bloomberg (http://www.bloomberg.com/apps/news?pid=10000102&sid=anFdUXRqNaN0)
KEYWORDS Daily International Pharma Alert
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