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Shire plc: Continued Excellent Performance in Q3, Full Year Earnings Expectations Increased, New Value in Pipeline Emerging
Date:10/29/2010

ivery of these outstanding quarterly results, we're building our business for the future. We're investing to enhance the value of our product pipeline, building our international structure to maximise the global reach of our products and using our strong cash generation to complete value enhancing acquisitions and in-licenses.

We now expect to see Non GAAP earnings of up to $4.20 per ADS for the full year. This includes the financial effect of the Movetis acquisition and the DAYTRANA disposal. Looking ahead, we re-iterate our aspirational target of mid-teens sales growth on average between 2009 and 2015."

FINANCIAL SUMMARY Third Quarter 2010 Unaudited Results Q3 2010 Q3 2009 Non Non US GAAP Adjustments GAAP US GAAP Adjustments GAAP $M $M $M $M $M $M Revenues 874 - 874 667 - 667 Operating income 156 142 298 92 42 134 Diluted earnings per ADS $0.52 $0.64 $1.16 $0.33 $0.16 $0.49

The Non GAAP financial measures included within this release are explained on page 26, and are reconciled to the most directly comparable financial measures prepared in accordance with US GAAP on pages 21 - 24.

- Product sales were up 32% to $794 million (2009: $603 million) due to growth from both Core Products Sales (up 31% to $694 million) and ADDERALL XR(R), (up 41% to $100 million). On a CER basis, which is a Non GAAP measure, Core Product Sales were up 34%. - Core Products Sales growth was driven by both existing and new products, particularly REPLAGAL(R) (up 91% to $92 million; CER: up 103%), VYVANSE(R) (up 17% to $151 million) and recently launched VPRIV(R) ($50 million) and INTUNIV(R) ($37 million). - Total revenues were up 31% (CER: up 34%) to $874 million (2009: $667 million), as a result of higher product sales and higher royalty income on authorized generic sales of ADDERALL XR compared to Q3 2009. - Non GAAP operating income increased by $164 million, or 123%, to $298 million (2009: $134 million) as the increased investments we are making in our
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SOURCE Shire plc
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