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Shire's New Product Portfolio Delivers Strong Quarterly Performance
Date:10/29/2008

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Summary of Q3 2008

Revenues from continuing operations for the three months to September 30, 2008 increased by 28% to $778.6 million (2007: $608.7 million).

Operating income from continuing operations for the three months to September 30, 2008 was $122.9 million, an increase of $100.3 million over 2007 (2007: $22.6 million). The increase in operating income was due to higher revenues and improved operating cost ratios in 2008 over the same period in 2007.

Cash inflow from operating activities for the three months to September 30, 2008 increased by 126% to $279.4 million (2007: $123.7 million) due to strong cash generation from operations. Excluding the up-front payment of $75.0 million made to Renovo in respect of JUVISTA in Q3 2007, cash inflow from operating activities increased by $80.7 million.

Cash, cash equivalents and restricted cash at September 30, 2008 totaled $505.1 million (December 31, 2007: $802.0 million). Cash, cash equivalents and restricted cash decreased by $296.9 million during the nine months to September 30, 2008 as the strong cash inflow from operating activities was offset by the cash cost of acquiring a majority voting interest in Jerini ($462.5 million, net of cash acquired), investment in the new HGT manufacturing plant in Lexington, Massachusetts, the final milestone payment to Noven Pharmaceuticals Inc. ("Noven") for DAYTRANA, dividend payments and payments to acquire shares by the Employee Share Ownership Trust ("ESOT").

2. Product sales

For the three months to September 30, 2008 product sales increased by 31% to $712.5 million (2007: $543.1 million) and represented 92% of total revenues (2007: 89%).

Product Highlights

US Rx US Average

Sales Sales Growth (1) Quarterly

Product $M Growth (2) (2) Market Share(1)

Specialty

Pharma
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SOURCE Shire Plc
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