Shire shares fall after reporting drop in sales of haemophilia drugs

The pharmaceutical company Shire has reported a drop in sales of haemophilia drugs, its biggest source of revenue since the $ 32bn acquisition of US firm Baxalta was completed in June.

The London-listed company’s third-quarter results disappointed the City. Shire shares closed down 2.6% at £45.28, the second day of falls, as investors also worried about the future pricing of haemophilia drugs in the US.

On Monday, Express Scripts, the largest manager of prescription drug plans for US companies, said it was looking at ways to manage the rising cost of haemophilia medicines.

Hillary Clinton is expected to tackle drug pricing if she wins the US presidential election. The Democratic candidate has repeatedly lambasted high pricing – describing that of EpiPen, drug firm Mylan’s emergency treatment of anaphylaxis, as “outrageous” and accusing entrepreneur Martin Shkreli of “price gouging” vital medicines.

Shire’s chief executive, Flemming Ørnskov, admitted that firms that managed prescription US drug plans wanted to “manage a number of categories more tightly” including haemophilia.

“We live in an environment, certainly during a presidential campaign, where price is in high focus,” he said.

“We can expect for all our categories, not just haemophilia, tighter management, but we have the programmes in place to make sure this does not affect our patients and has limited impact on our overall business. I remain incredibly confident about the outlook for haemophilia.”

Ørnskov said existing patients would not be forced to switch haemophilia medications as this would be considered too risky.

The Danish businessman was upbeat about Shire’s new drug for dry eye disease. Launched in August, Xiidra has already taken a 16% market share in the US. The eye drop is expected to generate annual sales of more than $ 1bn by 2020.

Shire said its integration of Illinois-based Baxalta, which specialises in treatments for rare blood conditions, cancer and immune system disorders, was ahead of schedule.

Sales of haemophilia medicines, also acquired from Baxalta, fell by 6% to $ 884m in the three months to 30 September, which Shire blamed on the timing of some large orders.

Overall, sales more than doubled to $ 3.3bn after the acquisition, but this was slightly lower than analysts had expected. Excluding Baxalta, revenues rose 12%.

Costs related to the takeover were also higher than Shire expected, partly because it has accelerated some factory closures in the US.

Shire is based in Dublin for tax purposes and run from Boston. As announced in the spring, it is pushing ahead with the closure of its Basingstoke office, where 270 people work.

The company wants to open an office in the Paddington, London, as its UK commercial base, so it can be “closer to the heart of life science communities”. There has been speculation that some staff may be moved to Dublin.

Shire shares fall after reporting drop in sales of haemophilia drugs

Reporting female genital mutilation should be legally essential – CPS chief

Alison Saunders, head of the CPS, appeared prior to the Property of Commons home affairs choose committee. Photograph: Felix Clay

Healthcare, educational and social-perform employees need to be necessary by law to report to the police suspected instances of female genital mutilation, the best prosecutor in England and Wales has said.

The director of public prosecutions, Alison Saunders, said there had only been eleven referrals of female genital mutilation instances by the police to the Crown Prosecution Service in the last two to three years, in spite of at least 144 complaints to police.

The most senior prosecuting officer was appearing just before the Residence of Commons property affairs choose committee soon after the very first prosecution for female gential mutilation was announced final Friday – 29 many years after it grew to become unlawful in England and Wales. The prosecution is being brought towards a London medical professional and a 2nd guy. The crime carries a optimum 14-12 months sentence.

The DPP chief said there were a quantity of loopholes in the recent legislation on FGM she wanted to see closed, but extra the lack of prosecutions had stemmed from a dearth of evidence rather than flaws in the legislation.

Saunders explained the eleven referrals in recent years had only involved five instances. At the very same time as it was announced the first prosecution would go ahead, the CPS stated they would not proceed with the other 4.

The DPP mentioned the 4 dropped FGM circumstances incorporated 1 that was new and 3 that had been reconsidered following earlier choices to take no even more action. In every single of the four cases, crown prosecutors concluded there was insufficient evidence to deliver costs.

The committee chairman, Keith Vaz, mentioned they had taken proof that as numerous as 66,000 ladies in England and Wales had been subjected to FGM. “Eleven referrals sounds a extremely small figure,” he stated.

Saunders said it was no use waiting for “the archetypal younger girl to come via the door” who was ready to give evidence towards her household. What was required was a lot more “intelligence-led investigations” and much more specialists referring situations to the police.

The DPP chief mentioned she had written to ministers final month urging them to make it necessary for healthcare and other pros to report any proof of FGM to the police.

But she declined to comment on MPs’ recommendations for the adoption of a law, comparable to 1 in France, that calls for youthful girls to undergo mandatory healthcare examinations. “I do not believe that is a matter for me,” she said. “That is a wider policy concern.”

But she did back moves advocated by the Solicitor-General, Oliver Heald, to place a duty on mother and father to safeguard their youngsters and make it unlawful to allow their daughters to be mutilated. She also backed moves to extend the jurisdiction of the present FGM law to people who are temporary visitors to Britain.

Reporting female genital mutilation should be legally essential – CPS chief