Shire Delivers Strong Quarter: Driven by $243m of New Product Sales (+164% YOY Growth). Revenue Guidanc...(35.0 million write-off of in-process res...)

Date:7/31/2008

35.0 million write-off of in-process research and development in respect of the acquisition of METAZYM, and the intangible asset impairment charge, inventory write-down and exit costs ($150.3 million) in respect of DYNEPO, which Shire has decided to stop commercialising. The operating loss in the second quarter of 2007 was due to the $1,896.0 million write-off of in-process research and development acquired as part of the $2.6 billion acquisition of New River Pharmaceuticals Inc. ("New River").

Cash inflow from operating activities for the three months to June 30, 2008 decreased by 1% to $180.4 million (2007: $183.0 million), as a result of the payment of $135.0 million in respect of the acquisition of METAZYM offset by strong cash generation from underlying operations.

Cash, cash equivalents and restricted cash at June 30, 2008 totaled $835.5 million (December 31, 2007: $802.0 million). The increase of $33.5 million was less than the cash inflow from operating activities primarily due to the purchase of property, plant and equipment, payments to acquire shares by the ESOT and the dividend payment.

2. Product sales

For the three months to June 30, 2008 product sales increased by 40% to $705.7 million (2007: $504.2 million) and represented 91% of total revenues (2007: 88%).

Product Highlights

US Rx US Average

Sales Sales Growth Quarterly

Product $M Growth(2) (1) (2) Market Share(1)

Specialty

Pharmaceuticals

ADDERALL XR 296.4 16% -6% 23.1%

VYVANSE 65.2 n/a n/a 7.4%

DAYTRANA 22.6 14% -11% 1.8%

LIALDA / MEZAVANT 32.0 n/a n/a 10.8%

PENTASA 44.8 11% -2% 16.8%

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SOURCE Shire Ltd Copyright©2008 PR Newswire. All rights reserved

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