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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

ne technology) and NRP290 (a pain product acquired with the New River Pharmaceuticals Inc. ("New river") acquisition).

Business Highlights

- SPD754 (Apricitabine) - HIV - Shire licensed its residual rights (for the US and Canada) for the investigational HIV compound to Avexa Limited ("Avexa") on January 23, 2007. In return Shire received an upfront cash payment of $10 million and Avexa shares valued at approximately $3 million.

- In April 2007 Shire completed the acquisition of New River by way of a short-form merger for $64 per share, or approximately $2.6 billion, partly funded by a private equity placing of $0.9 billion in February 2007.

- In May 2007 Shire issued $1.1 billion principal amount of convertible bonds due 2014. The proceeds of the bonds were used by Shire to repay borrowings under its bank facilities previously drawn to partially fund the acquisition of New River.

- Product divestments - In December 2007 Shire completed the sale of a portfolio of non-core products, including SOLARAZE(R) and VANIQA(R) to Laboratorios Almirall S.A. ("Almirall") for a cash consideration of $209.6 million, net of costs of $2.2 million. During the year Shire also received cash consideration of $24.8 million from the sale of other non-core products.

- Legal settlements

- In October 2007, all parties to the 2003 Transkaryotic Therapies, Inc. class action securities lawsuit relating to REPLAGAL reached an agreement in principle to resolve the matter, subject to court approval, for $50 million. Shire will contribute $27 million toward the settlement (recognized in Q3 2007 within Selling, General and Administration ("SG&A") costs) and its insurance companies will contribute the remaining $23 million.

- In November 2007 Shire agreed to pay Applied Research Systems Holding N.V and Serono S.A. ("Serono") $12 million for a fully-paid, worldwide, non-exclusive license to Serono's patents related to gene-activation, including t
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SOURCE Shire plc
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