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Further Upgrade to 2007 Financial Guidance Based on Strong Revenue Growth; VYVANSE Demand on Track
Date:11/1/2007

Overview of US GAAP Financial Results

1. Introduction

Summary of Q3 2007

Revenues from continuing operations for the three months to September 30, 2007 increased by 35% to $608.7 million (2006: $449.4 million).

Income from continuing operations (before income taxes and equity in earnings of equity method investees) for the three months to September 30, 2007 was $11.0 million (2006: $119.1 million). Income from continuing operations for 2007 was lower than 2006 primarily as a result of expensing the $75.0 million up-front payment to Renovo in respect of JUVISTA and $27.0 million in respect of anticipated legal settlement costs for the TKT class action shareholder suit during the three months to September 30, 2007.

Cash inflow from operating activities for the three months to September 30, 2007 increased by 51% to $123.7 million (2006: $82.1 million). Excluding up-front payments for in-licenses of $75.0 million in Q3 2007 and $30.5 million in Q3 2006 (see section 4 - R&D below for details) cash inflow from operating activities for the three months to September 30, 2007 increased by 76% to $198.7 million (2006: $112.6 million). This increase resulted from higher sales in Q3 2007 compared to Q3 2006, partially offset by increased cash expenditure on operating costs and expenses.

Cash, cash equivalents and restricted cash at September 30, 2007 totaled $604.7 million (December 31, 2006: $1,156.7 million). The decrease of $552.0 million was primarily due to the acquisition of New River in April 2007 being partly funded from Shire's pre-acquisition cash resources.

2. Product sales

For the three months to September 30, 2007 product sales increased by 41% to $543.1 million (2006: $386.2 million) and represented 89% of total revenues (2006: 86%).

Product Highlights

US Rx US Average

Sales Sales Growth (1) Market Sh
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SOURCE Shire plc
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