In its 1Q18 earnings, Shire plc (LSE:SHP; NASDAQ:SHPG) released its first figures since splitting its neuroscience and rare disease businesses into two divisions (see BioCentury Extra, Jan. 9).
For the quarter, Shire's rare disease division generated revenues of $2.7 billion, a 10% increase from the same period in 2017. Total revenues from its neuroscience division fell 2% to $918 million. Excluding sales of ulcerative colitis drug Lialda mesalamine, the neuroscience division reported a 12% increase in total revenues.
Shire reported 1Q18 non-GAAP EPS of $3.86 on revenues of $3.77 billion, beating consensus estimates of $3.57 on revenues of $3.73 billion. In 1Q17, the company reported non-GAAP EPS of $3.63 and revenues of $3.6 billion.
The pharma did not take questions on the conference call related to a takeover bid from Takeda Pharmaceutical Co. Ltd. (Tokyo:4502). On Tuesday, Shire said its board is willing to recommend to shareholders a revised offer from Takeda that values Shire at about £46 billion ($64.4 billion) and would equate to about a 50% stake of the combined company (see BioCentury Extra, April 24).
On Thursday, Shire added 7p to 3,827p in London and $2.39 to $160.76 on NASDAQ.