Shire Delivers Strong Quarter: Driven by $243m of New Product Sales (+164% YOY Growth). Revenue Guidanc...(ne 30 2008 and 2007 interest expenseincl...)

Date:7/31/2008

ne 30, 2008 and 2007 interest expense includes a provision for interest, which may be awarded by the Court in respect of amounts due to those ex-Transkaryotic Therapies, Inc. ("TKT") shareholders who have requested appraisal of the acquisition consideration payable for their TKT shares. A trial date of December 10, 2008 has been set. Further information on this litigation can be found in our filings with the SEC, including our Annual Report on Form 10-K for the year to December 31, 2007.

Taxation

The effective rate of tax for the three months to June 30, 2008 was -0.3% (2007: -1%). Excluding the tax effect of items excluded from non GAAP income as outlined on pages 25-26, the effective rate of tax on non GAAP income is 20% (2007: 24%). The effective rate of tax on non GAAP income in the three months to June 30, 2008 was 4% lower than the corresponding period in 2007 principally due to a permanent tax benefit arising on the debtor substitution of the Company's convertible bond on the Scheme of Arrangement in May 2008.

Equity in earnings of equity method investees

Net losses of equity method investees of $1.9 million were recorded for the three months to June 30, 2008 (2007: earnings $0.7 million). This comprised earnings of $1.5 million from the 50% share of the anti-viral commercialization partnership with GSK in Canada (2007: $3.1 million) offset by losses of $3.4 million being the Company's share of losses in the GeneChem, AgeChem and EGS Funds (2007: loss $2.4 million).
FINANCIAL INFORMATION

Unaudited US GAAP results for the three months to June 30, 2008

Consolidated Balance Sheets

June 30, December 31,

2008 2007

$M $M

_________ _________

ASSETS

Current
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