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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

sents. In the year to December 31, 2007 Shire recognized gains on the sale of product rights of $127.8 million, of which $114.8 million was for the products sold to Almirall.

In-process R&D ("IPR&D")

During the year to December 31, 2008 the Company recorded an IPR&D charge of $263.1 million (2007: $1,866.4 million). The charge in 2008 related to FIRAZYR in those markets outside of the EU ($128.1 million) which had not been approved by the relevant regulatory authorities at the acquisition date, and for METAZYM ($135.0 million). In the year to December 31, 2007 the Company recorded an IPR&D charge of $1,866.4 million in respect of development projects acquired with New River, including VYVANSE for use in adults in the US market, which at the time of acquisition had yet to be approved by the FDA.

Interest income

For the year to December 31, 2008 Shire received interest income of $25.5 million (2007: $50.6 million). Interest income primarily relates to interest received on cash and cash equivalents. Interest income for the year to December 31, 2008 is lower than the same period in 2007 due to lower average cash and cash equivalent balances and lower average interest rates.

Interest expense

For the year to December 31, 2008 Shire incurred interest expense of $139.0 million (2007: $70.8 million):

                                                            2008        2007
                                                              $m          $m
                                                       _________   _________
    Interest expense (US GAAP)                             139.0        70.8
    Additional interest on settlement of TKT appraisal    (73.0)      -
    rights litigation
    Deferred financing costs write off                         -    (7.9)
                                                       _________   ________
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SOURCE  Shire Plc
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