Shire upgrades Baxalta cost savings after second-quarter earnings beat

Drugmaker Shire upgraded its guidance for 2016 on Tuesday, after it hiked the predicted cost saving target for its $32 billion (£24.17 billion) acquisition of rare disease drugs specialist Baxalta and soundly beat forecasts for the second-quarter. Shire, which makes drugs to treat hyperactivity as well as rare diseases, reported second-quarter revenue of $2.43 billion and non-GAAP EPS per ADS, its preferred earnings measure, of $3.38, beating analyst forecasts of $2.23 billion and $3.12, r