Shire's New Product Portfolio Delivers Strong Quarterly P...(penditure increased by $20.2 million ove...)

Date:10/29/2008

penditure increased by $20.2 million over the same period in 2007, decreasing as a percentage of product sales to 17% (2007: 19% of product sales). Contributing to the increased R&D expenditure in the third quarter of 2008 over 2007 were costs associated with projects in-licensed and acquired since the second half of 2007 including PLICERA, SPD550, AMIGAL, FIRAZYR and METAZYM together with Phase 3(b) and Phase 4 studies to support new product launches.

Selling, general and administrative ("SG&A")

% of

% of product product

2008 sales 2007 sales

$m $m

--------- --------- --------- ---------

SG&A (US GAAP) 320.4 45% 328.4 60%

Costs associated with the

introduction of a new

holding company (2.0) -

Amortization (29.7) (31.1)

Legal settlement provision - (27.0)

Depreciation (12.0) (10.5)

--------- ---------

SG&A (Non GAAP) 276.7 39% 259.8 48%

--------- ---------

SG&A expenses decreased by $8.0 million to $320.4 million for the three months to September 30, 2008 compared to $328.4 million in the corresponding period in 2007. After the exclusion of certain costs as outlined in the table above, SG&A decreased as a percentage of product sales to 39% (2007: 48% of product sales). This reduction of Non GAAP SG&A as a percentage of product sales reflects the sales impact in the three months to September 30, 2008 of the successfu
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SOURCE Shire Plc Copyright©2008 PR Newswire. All rights reserved

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