During the three months to September 30, 2008 the Company recorded integration costs of $7.5 million (2007: $nil) in respect of Jerini, primarily being acquisition related costs incurred by Jerini.
Gain on sale of product rights
For the three months to September 30, 2008 Shire recognized gains of $4.0 million arising from the sale of non-core products to Laboratorios Almirall S.A. in 2007. These gains were deferred at December 31, 2007 pending the transfer of the relevant consents.
In the three months to September 30, 2007 Shire recognized gains of $7.1 million on the disposal of EQUETRO to Validus Pharmaceuticals Inc.
In process R&D charge
During the three months to September 30, 2008 the Company recorded an in-process R&D charge of $120.5 million (2007: $nil) in respect of FIRAZYR in markets outside of the EU which, at the acquisition date, had not been approved by the relevant regulatory authorities.
For the three months to September 30, 2008 Shire received interest income of $3.8 million (2007: $8.0 million). Interest income primarily relates to interest received on cash and cash equivalents. Interest income for the three months to September 30, 2008 is lower than the same period in 2007 due to lower average cash and cash equivalent balances and lower average US Dollar interest rates.
For the three months to September 30, 2008 the Company incurred interest expense of $19.9 million (2007: $18.0 million).
In both three month periods to September 30, 2008 and 2007 interest
expense includes a provision for interest which may be awarded by the Court
in respect of amounts due to those ex-Transkaryotic Therapies, Inc. ("TKT")
shareholders who have requested appraisal of the acquisition consideration
payable for their TKT shares. A trial date of December 10, 2008 has been
|SOURCE Shire Plc|
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