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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

eport on Form 10-Q for the period to September 30, 2008.

In 2007 interest expense included a $7.9 million write-off of deferred financing costs on repayment of term loans used to fund the acquisition of New River following the issue of the $1.1 billion convertible bonds in May 2007.

    Other (expenses)/income, net


                                                            2008        2007
                                                              $m          $m
                                                       _________   _________
    Other (expenses)/income, net (US GAAP)                (32.9)         1.2
    Other-than-temporary impairment of available for        58.0           -
    sale securities
    Gain on sale of available for sale security            (9.4)           -
                                                       _________   _________
    Other income, net (Non GAAP)                            15.7         1.2
                                                       _________   _________

Other (expenses)/income, net for the year to December 31, 2008 includes other than temporary impairment charges in respect of available for sale securities totaling $58.0 million (2007: $3.0 million), including $44.3 million relating to the Company's investment in Renovo Group plc. These amounts reflect unrealized holding losses that have been reclassified from other comprehensive income to the statement of operations, as management have concluded that the impairment is other than temporary.

Taxation

The effective tax rate for the year to December 31, 2008 was 37% (2007: -4%). Excluding the IPR&D charge of $263.1 million, (2007: $1,866.4 million) which is either not tax deductible or the resultant tax deduction has not been recognized at this time, and the tax effect of items excluded from Non GAAP income as outlined on pages 27 and 30, the effective r
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SOURCE Shire Plc
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