January 8, 2018 / 2:51 PM / 3 months ago

Shire to separate ADHD drugs ahead of possible spin-off, cuts outlook

LONDON, Jan 8 (Reuters) - London-listed pharmaceutical group Shire said on Monday it would create two distinct business units for its rare disease and hyperactivity medicines ahead of deciding later this year whether to spin off the latter into a separately listed group.

The company also said on Monday its total revenue would reach $17-18 Billion a year by 2020, a downgrade of its previous ambition of achieving $20 billion in revenue by that date, a forecast made two years ago when it acquired Baxalta.

Shire, which makes attention deficit hyperactivity disorder (ADHD) blockbuster Vyvanse, said in August it was considering spinning off its hyperactivity drugs into a standalone group that analysts said could be worth as much as $8.5 billion. (Reporting by Paul Sandle; editing by Kate Holton)

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