Shire raises 2014 profit forecast as earnings beat estimates

Dublin-based pharmaceutical company Shire has raised its profit forecast for a third time after third-quarter sales beat estimates.

24th October, 2014
Shire was up 3.4% as of 3:16 p.m. in London

Dublin-based pharmaceutical company Shire has raised its profit forecast for a third time after third-quarter sales beat estimates.

The good news for Shire comes despite the company spending much of the last quarter occupied with AbbVie’s now-defunct $52 billion takeover offer.

AbbVie decided this week to pull the plug on the proposed deal after new taxation rules from the US Treasury Department made the acquisition less appealing.

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