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Shire delivers first-quarter beat with 14 pct rise in earnings

LONDON May 2 Shire, the pharma group that bought haemophilia specialist Baxalta last year, reported a better-than-expected 14 percent rise in first-quarter earnings, helped by higher sales of rare disease drugs and demand for its new dry eye medicine.

The London-listed firm reported non-GAAP diluted earnings per ADS of $3.63, beating analyst forecasts of $3.27, according to Thomson Reuters I/B/E/S. Product sales, which were boosted by the Baxalta deal, rose 110 percent to $3.4 billion.

The company reiterated its full-year forecast given in February for product sales to rise to $14.5-14.8 billion this year and earnings per share to increase to $14.60-$15.20.

(Reporting by Paul Sandle; editing by Kate Holton)

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