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Shire plc: Excellent Performance Across All Areas of the Business and Accelerating New Product Sales Drive Revenue Growth of 36%
Date:2/21/2008

he 2005 awards, see page 18.

Research and development

% of product % of product

2007 sales 2006 sales

_______ _________ _______ _________

R&D (US GAAP) 566.6 26% 380.5 25%

Upfront and milestone

payments (155.9) (80.5)

FAS123R (1) (17.0) (5.4)

_______ _______

Non GAAP R&D 393.7 18% 294.6 19%

(1) Includes 2005 option catch up charge R&D expenditure increased to $566.6 million for the year to December 31, 2007 (26% of product sales), up from $380.5 million in the year to December 31, 2006 (25% of product sales). For the year to December 31, 2007 R&D included upfront and milestone payments, totaling $155.9 million(1), for the in-licensing of pipeline products, (7% of product sales). For the year to December 31, 2006 R&D included $80.5 million(2) of upfront and milestone payments (5% of product sales).

Excluding these upfront and milestone payments and share based compensation costs (see reconciliation table above and share based compensation costs below) R&D expenditure for the year to December 31, 2007 increased by $99.1 million over the same period in 2006, decreasing as a percentage of product sales to 18% (2006: 19%). Contributing to the increased R&D expenditure in 2007 were Phase 3(b) and Phase 4 studies to support new product launches; the continuation of Phase 3 trials on velaglucerase alfa (GA-GCB); the development of the Women's Health franchise and JUVISTA; and the pre-clinical development of three HGT projects and the newly in-licensed Amicus products.

For the year to December 31, 2007 R&D included a charge of $17.0 million for share based compens
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SOURCE Shire plc
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