It may have just missed out this time but it can only be a matter of time before Shire Pharmaceutical makes it into the FTSE 100.
The combination of strong interims and a clutch of positive announcements has made it hot property in the City. As one analyst put it: "If results are anything in line with what people are expecting, it is going to go like a bomb."
Pharmaceuticals is a fast-moving, exciting industry for investors. This has led to consolidation which in turn increased the opportunities for smaller companies to exploit areas overlooked or rejected by larger rivals.
Within this field, Shire is a high growth firm with a strong, experienced management. The £3bn company was recently told US drug regulators are ready to approve Reminyl, its treatment for Alzheimer's disease. This follows approval in Europe where it should be on the market by the end of the year.
The Alzheimer's market is predicted to be worth around £400m.
Further success is expected from its new formulation for Adderall, its treatment for attention deficit disorder. The company has branded initial trials "positive" and will give detailed results next month in a presentation to the American Academy of Child and Adolescent Psychiatry.
It plans to apply for registration of the drug, named SLI 381, by the US food and drug administration.
There is, however, room for improvement. Although strong in the US, Shire could look to flex its muscle elsewhere. Beefing up distribution in Europe would help, as would adding to its therapeutic product business.
Shares in Shire do not come cheap and could go to a year's high of £14.88 if the drugs prove to be as successful as the trials suggest. This, however, may take some time to achieve.
Last night Shire stood at £12.73, which was 4p down on the day. But a final push could see the company finally among the top 100 by the December or March re-evaluations. One to look out for.
