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Following a Good Start to the Year Shire Reaffirms Full Year 2008 Financial Guidance
Date:4/25/2008

R&D expenditure in the first quarter of 2008 over 2007 were projects in-licensed during the second half of 2007 including JUVISTA, PLICERA and AMIGAL together with Phase 3(b) and Phase 4 studies to support new product launches.

Selling, general and administrative ("SG&A")

SG&A expenses increased by 37% to $293.0 million for the three months to March 31, 2008 from $213.8 million in the corresponding period in 2007. This increase was in line with the increase in product sales of 37%.

The increase in SG&A expenses included the impact of the following:

- An increase in the ADHD sales force to promote VYVANSE;

- The cost of the new GI sales force in the US;

- The advertising, promotional and marketing spend to support the launches of VYVANSE and LIALDA; and

- Costs of $5.6 million incurred during the quarter associated with the introduction of a new holding company.

Depreciation and amortization

The depreciation charge for the three months to March 31, 2008 was $13.6 million (2007: $13.6 million). The amortization charge for the three months to March 31, 2008 was $30.8 million (2007: $15.3 million). The increased amortization charge is primarily due to the amortization of DYNEPO and VYVANSE intangible assets following the product launches in March 2007 and July 2007 respectively.

Gain on sale of product rights

For the three months to March 31, 2008 Shire recognized gains of US$7.6 Million (2007: $nil) on the sale of non-core products rights.

Shire realized a gain of $5.0 million from the sale of certain hormone replacement therapy products to Meda AB and also recognized, in the first quarter of 2008, $2.6 million of gains deferred at December 31, 2007 resulting from the sale of other non-core products during 2007.

Interest income

For the three months to March 31, 2008 Shire received interest income of $12.7 million (2007: $19.8 million). Interest income primarily relates to
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SOURCE Shire plc
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