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

information on this litigation can be found in our filings with the SEC, including our Annual Report on Form 10-K for the year to December 31, 2007.

Other (expenses)/income, net

Other (expenses)/income for three months to September 30, 2008 includes impairment charges in respect of the Company's available for sale securities totalling $54.1 million (2007 : $nil), including $43.7 million relating to the Company's investment in Renovo.

The decline in the market value of the Company's investment in Renovo initially arose from the results of clinical trials for JUVISTA announced by Renovo over 2007 and 2008. In considering whether the decline in value is temporary or "other than temporary" under US GAAP, the Company had to consider the following factors: the severity of the decline from historical cost (87%) and its duration (eleven months); market analysts' targets of Renovo's share price for the next 18-24 months; and the revised expected filing date for JUVISTA due to the adoption of a sequential rather than parallel Phase 3 development plan.

These factors, together with the significant decline in global equity markets during the third quarter of 2008 mean that the Company is unable to reasonably estimate the period over which a full recovery in the value of its investment in Renovo could occur. As such, the Company had to conclude that for US GAAP purposes the decline in value is "other than temporary".

In such circumstances US GAAP requires the full difference between the book value of the investment and the fair (market) value be recognized as an other than temporary impairment, even when there is an intention to continue to hold the investment. Accordingly the Company has recognized an impairment charge of $43.7 million through the Statement of Operations in the three months to September 30, 2008. If in the future JUVISTA's Phase 3 trials report positively and Renovo's other products progress through development, Renovo's share
'/>"/>

SOURCE Shire Plc
Copyright©2008 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33

Related biology technology :

1. Beckman Coulter Signs Agreements with Adventist Health; Broad Product Offering Enhances Delivery of Quality Patient Care
2. PEAK Surgical Introduces PlasmaBlade(TM) Product Line Extensions for Use in General Surgery
3. Lilly Announces Launch of Color Differentiation System for Humalog(R) and Humulin(R) U-100 Insulin Products in the United States
4. GenOdyssee Receives Broad Product Applications Protection in EU for Founding Natural Evolution Technology
5. Consumers Looking to Sustainable Food Production to Feed Global Population
6. Contour Products Introduces Groundbreaking Sleep Apnea, Respiratory and Ergonomic Body Comfort Pillows at Medtrade; Self-Explanatory Products Serve Customer Needs, Expand Retailers DME Offerings
7. Glycotex Reports First Patient Enrollment in Phase IIb Study of Lead Product Candidate GLYC-101 for Wound Healing
8. Sustainable Oils Names Scott Johnson as General Manager, Expands Management Team for Camelina Research and Production
9. Ventria Expands Lactoferrin Production
10. China Biologic Products Provides Preliminary Guidance for 2009 of Revenues of $90 to $100 Million and Net Income of $18 to 22 Million
11. Advanced Analytical Technologies, Inc. Expands Into New Office and Production Space
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/28/2014)... The Workgroup for Electronic Data Interchange (WEDI), ... health IT to create efficiencies in healthcare information exchange, ... has developed an issue brief titled, “What is ... HPID Workgroup, a part of WEDI’s Strategic National HPID ... and Medicaid Services (CMS) to identify common misuse of ...
(Date:7/28/2014)... 28, 2014 According to a ... Research "Regenerative Medicine (Bone and Joint) Market (By ... Engineering; By Applications - Bone Graft Substitutes, Osteoarticular ... Global Industry Analysis, Size, Share, Growth, Trends and ... (bone and joint) market was valued at USD ...
(Date:7/28/2014)... DUBLIN , July 28, 2014 ... the "Global Synthetic Biology Market 2014-2018" report ... The term synthetic biology covers the ... and organisms as well as the redesigning of natural ... is considered to be a form of extreme genetic ...
(Date:7/28/2014)... , July 28, 2014 ... "Microbial Identification Market by Products (Consumables, Instruments, Services), Methods ... End User (Detection, Characterization) - Global Forecasts ... Identification Market is estimated at $896.5 Million ... $1,194.1 Million by 2019, growing at a ...
Breaking Biology Technology:WEDI’s HPID Workgroup Announces Release of Issue Brief: “What is the Difference Between a Health Plan and Payer?” 2Regenerative Medicine Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 2Regenerative Medicine Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 3Regenerative Medicine Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 4Global Synthetic Biology Market 2014-2018 2Microbial Identification Market worth $1,194.1 Million by 2019 2Microbial Identification Market worth $1,194.1 Million by 2019 3
... world,s thinnest material to create the world,s smallest transistor, ... their peer-reviewed findings in the latest issue of the ... from The School of Physics and Astronomy at The ... into tiny electronic circuits with individual transistors having a ...
... Anthera Pharmaceuticals,Inc., a privately held biopharmaceutical ... scientists and,collaborators have released data from the ... Arteriosclerosis, Thrombosis, and Vascular,Biology (ATVB) Annual Conference ... Anthera has completed Phase II trials in ...
... - Long-form web-based PSA ("Life. Lessons. Legacy.") features,Carnegie-Mellon Professor,s fight against pancreatic cancer ... ... cancer killer, - PSA debuts on heels of Lustgarten Foundation,s limited online ... of "The ...
Cached Biology Technology:Graphene used to create world's smallest transistor 2Anthera Presents Data on Varespladib at ATVB Meeting 2The Lustgarten Foundation for Pancreatic Cancer Research Launches New Public Service Announcement Featuring 'Last Lecturer' Dr. Randy Pausch 2
(Date:7/28/2014)... map social connections in prairie dogs have uncovered ... on prairie dog communities that may help limit ... conservation efforts. The work was done by researchers ... Evolutionary Synthesis Center (NESCent). , "Prairie dogs are ... says Dr. Jennifer Verdolin, lead author of a ...
(Date:7/27/2014)... a new species of mayfly in the southern Western Ghats, ... fact, this is the first time that any mayfly belonging ... peninsular India. , The new species, called Labiobaetis soldani ... his substantial contribution to the understanding of the Ephemeroptera of ... study that describes the new mayfly in the Journal ...
(Date:7/27/2014)... scientists have identified more than two dozen genetic ... that had not been previously reported. The study, ... funded by the National Institutes of Health (NIH) ... , "Unraveling the genetic underpinnings of Parkinson,s is ... this complex disease, and hopefully, may one day ...
Breaking Biology News(10 mins):Social network research may boost prairie dog conservation efforts 2NIH scientists find 6 new genetic risk factors for Parkinson's 2
... research team have, for the first time, demonstrated that mercury ... of the chemical. The international teams research began ... is featured in this weeks Proceedings of the National Academy ... been difficult to establish because of all the other factors ...
... levels in lake fish, according to a three-year study ... Academy of Science. The study showed that an increase ... resulted in a significant increase in methylmercury production and ... This is good news. It means that a reduction ...
... The NASA-managed Sea-viewing Wide Field-of-view Sensor (SeaWiFS) instrument ... took its first measurements of ocean color. A ... in countless applications and helped researchers paint a ... satellite,s tenth anniversary today with briefings at the ...
Cached Biology News:International team shows mercury concentrations in fish respond quickly to increased deposition 2New study shows fish respond quickly to changes in mercury deposition 2New study shows fish respond quickly to changes in mercury deposition 3NASA celebrates a decade observing climate impacts on health of world's oceans 2NASA celebrates a decade observing climate impacts on health of world's oceans 3
... normal paraffin tissue array is designed ... of interest in extensive panels of ... brain, heart, kidney, liver, lung, muscle, ... on positively charged glass slide. ...
... DeStreak Reagent, 1 ml. ... 2-D gels by preventing streaking.Eliminates ... oxidation of proteins.Stabilizes proteins throughout ... simplified, well-resolved protein patterns.Ideal for ...
GENOMIPHI HY KIT 1000 RXN, 1 EA. Category: Genomics DNA Amplification....
...
Biology Products: