Shire, Britain’s third largest drug-maker, slid to a two-year low on the back of concerns about demand for Vyvanse, its treatment for attention deficit hyperactivity disorder in children.
Investment research house Sanford Bernstein cut its recommendation to “underperform” from “market perform” and slashed its target price to 910p from £11.20. Analyst Jack Scannell noted that Vyvanse held the key to the company’s future prospects, as it was likely to generate around a third of revenues by 2011.
“However, consensus numbers are only achievable if the Vyvanse launch accelerates substantially after a relatively slow first seven months,” he noted. Shire’s shares ended down 43½ at 946½p.
Daily Telegraph
No comments:
Post a Comment