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

ts following the repayment of these term loans. Finance costs relating to the convertible bonds, representing interest expense based upon the stated coupon of the bonds, amortised discount and issue costs totalled US$43.6 million for the year to December 31, 2007.

In the year to December 31, 2007 and 2006 finance costs included a provision for interest, which may be awarded by the Court in respect of amounts due to those ex-TKT shareholders who have requested appraisal of the acquisition consideration payable for their TKT shares. A trial date for the appraisal rights litigation has been set for May 12, 2008. Further information can be found in our filings with the SEC, including our Annual Report on Form 10-K for the year to December 31, 2007.

Share of post tax profit from associates and joint ventures

The Group's share of profit from its associates and joint ventures totalled US$1.8 million for the year to December 31, 2007 (2006: US$5.8 million). This comprised earnings of US$6.5 million from the 50% share of the anti-viral commercialisation partnership with GSK in Canada (2006: US$6.3 million), offset by losses of US$4.7 million being the Group's share of losses in the GeneChem, AgeChem and EGS Healthcare Funds (2006: losses of US$0.5 million).

Taxation

The effective tax rate for the year to December 31, 2007 was -162% (2006: 88%).

In 2007 and 2006 the Group recorded impairment charges in respect of goodwill relating to the acquisition of BioChem Pharma Inc. of US$133.7 million (2006: US$271.9 million): no tax deduction is available on this goodwill impairment. Excluding the goodwill impairment the effective tax rate is -31%, (2006: 28%).

This negative tax rate in the year to December 31, 2007 of 31% has resulted from the release of deferred tax liabilities following other intangible asset impairment charges recognised in 2007 and the variation in the mix of profits from the jurisdictions in which the Group operat
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