The revelation that it was targeting annual product sales of $10bn by 2020 failed to impress Shire's investors on Monday.
In a statement released early afternoon, the pharmaceutical giant laid out its "sustainable" long-range financial targets in an effort to explain to shareholders the reasoning behind its recent rejection of AbbVie's $46bn bid, which it last week said "fundamentally undervalued the company and its prospects".
The $10bn target reflects a more than doubling of its 2013 product sales, with the group saying it was confident it has "the capabilities and the platform to drive strong future sales growth".
Of that goal, $7bn is expected to come from in-line sales, while the remaining $3bn is from existing pipeline products. The majority would come from sales in the Rare Disease and Neuroscience units.
The plan doesn't include the impact of any additional M&A, licensing or the pipeline development from some of its recent transactions.
Offering an outlook for the medium term, the group anticipates reaching annual product sales of $6.5bn by 2016.
Chief Executive Officer Flemming Ornskov said: "We have put in place the team and the strategy which have already led to a marked acceleration in product sales over the last 12 months. Furthermore, we have stepped up the efficiency of the business, increasing non-GAAP earnings before interest, tax, depreciation and amortisation margins by eight percentage points year-on-year from the first quarter of 2013 to the first quarter of 2014.
"As a consequence, our record of creating total shareholder returns for Shire shareholders has substantially outperformed that of our peer group and relevant market indices in both the UK and US from January 1st 2009 until June 19th 2014.
"We have created leading franchises in Rare Diseases, Neuroscience and Gastrointestinal and are moving into promising new therapeutic areas such as ophthalmology, as well as boosting our innovative pipeline. We are confident that our ambitious team has the capabilities and the platform to drive strong future sales growth and to enhance Shire's leadership position in Rare Diseases."
In its presentation, Shire said it has already generated strong momentum with the creation of a platform to "deliver sustainable sales growth and superior patient outcomes" that it believes will grow from its existing product portfolio and pipeline through to 2020.
It highlighted its operational efficiency, scalable operating model, franchise growth and organisation structure as drivers in the creation of sales.
Shire also said it was planning to pursue business development to reinforce its core and expand and grow its adjacent therapeutic areas, which it anticipates "could further enhance [its] double-digit compound annual product sales growth".