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Shire Delivers Excellent Growth for the Year, With the new Product Portfolio Achieving Sales of $1 Billion
Date:2/19/2009

.6) Depreciation (12.5) (11.3) _________ _________ R&D (Non GAAP) 507.6 18% 404.6 19% _________ _________

R&D expenditure decreased to $526.6 million for the year to December 31, 2008 (19% of product sales), from $576.4 million in the year to December 31, 2007 (27% of product sales). The year to December 31, 2007 included up-front and milestone payments for in-licensed products of $155.9 million representing 7% of product sales.

After the exclusion of the charges outlined in the table above, R&D expenditure increased by $103.0 million over the same period in 2007, although decreasing as a percentage of product sales to 18% (2007: 19% of product sales). Contributing to the increase in R&D expenditure in 2008 over 2007 were projects in-licensed and acquired since the second half of 2007, including PLICERA, SPD550, AMIGAL, FIRAZYR and METAZYM, together with Phase 3(b) and Phase 4 studies to support new product launches.

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

                                        2008          % of      2007     % of
                                                   product            product
                                                     sales              sales
                                          $m                      $m
                                   _________     _________ _________ ________
    SG&A (US GAAP)                   1,422.9           52%   1,178.8      54%
    Costs associated with the
     introduction of a new holding
     company                           (14.8)                      -
    Intangible asset amortization
     and impairment charges           (223.3)                  (95.0)
    FAS123R catch up charge                -      
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SOURCE  Shire Plc
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