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Shire plc: Strong Third Quarter and Increased Non GAAP Earnings Expectations
Date:10/24/2013

  • On October 22, 2013 Shire announced that it had decided to discontinue the construction of its new manufacturing facility in San Diego. Shire will continue to manufacture DERMAGRAFT in its existing facility in La Jolla, and Shire's ability to meet expected future demand for DERMAGRAFT is not impacted by this decision.  Shire is currently assessing possible disposal opportunities in relation to this facility.

  • Share Buy-Back Program

    • In Q4 2012 Shire commenced a share buy-back program, for the purpose of returning funds to shareholders, of up to $500 million, through both direct purchases of Ordinary Shares and through the purchase of Ordinary Shares underlying American Depositary Receipts. As of October 22, 2013 Shire had made on-market repurchases totaling 9,807,835 Ordinary Shares at a cost of $299 million (excluding transaction costs).

    BOARD AND COMMITTEE CHANGES

    • On October 23, 2013 Shire announced that Dominic Blakemore will join the Shire Board of Directors effective January 1, 2014.  On joining the Board, Dominic will become a member of the Shire Audit, Compliance & Risk Committee. Dominic's career experience includes finance and strategy roles with global corporations.  He is currently Group Finance Director of Compass Group plc.

    ADDITIONAL INFORMATION

    The following additional information is included in this press release:

    Page Overview of Third Quarter 2013 Financial Results 6 Financial Information 10 Non GAAP Reconciliation 19 Notes to Editors 23 Safe Harbor Statement 24 Explanation of Non GAAP Measures 24 Trade Marks 25

     

    Dial in details for the live conference call  for investors at 14:00 BST / 09:00 ED
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    SOURCE Shire plc
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