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Recent Developments

Proposed acquisition of Jerini

On July 3, 2008 Shire announced that it was launching a voluntary public takeover offer for all shares in Jerini for an equity purchase price of EUR328 million. Shire has also invested approximately EUR21 million in return for the subscription of newly issued Jerini shares, equating to approximately 9% of the increased share capital. Jerini's Supervisory and Management Boards unanimously support the transaction and will recommend acceptance of the offer to its shareholders. Subject to completion of certain sale and purchase agreements, Shire has rights to approximately 76% of Jerini's share capital before the receipt of any takeover offer acceptances. Once the offer document is posted, it is anticipated that the offer will be open for acceptance by the remaining shareholders until the end of Q3 2008 and is contingent upon the fulfilment of certain customary terms and conditions, including approval by relevant merger control authorities.

The proposed acquisition will add Jerini's hereditary angioedema ("HAE") product, FIRAZYR(R) (icatibant), (expected to be launched in the EU in H2 2008) to Shire's Human Genetic Therapies ("HGT") portfolio.

On July 15, 2008 Shire announced that the European Commission had granted Jerini marketing authorization for FIRAZYR in the treatment of acute attacks of HAE which allows Jerini to market FIRAZYR in the European Union's 27 member states, making it the first product to be approved in all EU countries for the treatment of HAE.

On July 17, 2008 the German Federal Cartel Office issued confirmation of merger clearance.

For further details see Shire's press releases of July 3 and July 15, 2008.

DYNEPO

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