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Shire plc: IFRS Results for the Year Ending December 31, 2007
Date:3/25/2008

ion). Amortisation charges, including the amortisation on acquired products, were US$147.3 million for the year to December 31, 2007 (2006: US$81.5 million), the increased charge is primarily due to the amortisation of DAYTRANA, ELAPRASE, DYNEPO and VYVANSE intangible assets following the product launches in June 2006, August 2006, March 2007 and July 2007 respectively.

Intangible asset impairment charges within SG&A for the year to December 31, 2007 were US$0.4 million (2006: US$1.1 million). Impairment charges relating to goodwill for the year to December 31, 2007 were US$133.7 million (2006: US$271.9 million) related to the goodwill arising on the acquisition of BioChem Pharma Inc. Depreciation, amortisation and impairment charges also include an adjustment to goodwill of US$11.0 million (2006: US$nil) in respect of the prior year acquisition of TKT.

For the year to December 31, 2007 SG&A included a charge of US$51.7 million for share based compensation (2006: US$14.6 million), which included a US$22.5 million cumulative catch up charge (2006: US$nil) in respect of 2005 option awards.

The catch-up charge relates to options issued by Shire in 2005 under the 2000 Executive Scheme. This charge arises as a result of the strong growth in revenue and profits (as determined under US GAAP) which the Group generated in the fourth quarter of 2007. This growth has in turn caused the Group to revise its original assumptions on which the IFRS 2 charge was based.

Gain on sale of product rights

For the year to December 31, 2007 Shire recognised gains of US$102.9 million on the sale of non-core products.

Shire received US$209.6 million (net of transaction costs of US$2.2 million) from Laboratorios Almirall S.A. ("Almirall") for a portfolio of non core products comprising the dermatology products SOLARAZE and VANIQA and six non-promoted products across a range of indications, which were sold by Shire primarily in the UK, France, Germany,
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SOURCE Shire plc
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