Shire’s rare disease portfolio supports a narrow moat, despite its growth-by-acquisition strategy.
Shire reported strong second-quarter results, with 16% pro forma product sales growth and raised guidance for the year after the June 2016 close of the Baxalta acquisition. Despite a significant potential $350 million legal settlement for Shire’s former Dermagraft business, Shire’s new top-line guidance ($10.8 billion-$11 billion in product sales) and non-GAAP earnings guidance ($12.70-$13.10 per ADS) is mostly in line with our previous estimates for $10.7 billion in revenue and $12.88 in earnin...
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