- Provision of $27.0 million for the legal settlement of the Transkaryotic Therapies Inc ("TKT") class action shareholder suit;
- Gains on disposal of non-core product rights ($12.1 million for the nine months ended September 30, 2007) which will include any gain arising in Q4 2007 on the disposal of non-core products to Almirall; and
- Integration costs for the New River acquisition ($9.2 million including bridging finance costs of $7.9 million), all of which were incurred during Q2 2007.
Change in Senior Management
On September 24, 2007 Shire appointed Sylvie Gregoire as President of its Human Genetic Therapies ("HGT") business. Sylvie brings more than 20 years of management, regulatory affairs, manufacturing and supply chain experience from biotechnology and pharmaceutical companies including Biogen Idec and Merck & Co. Sylvie replaces David Pendergast, former President of HGT, whose retirement was announced in March of this year. To ensure a smooth transition, David will continue with Shire through 2007 as an advisor. Shire would like to thank David for all his contributions.
New Non-Executive Director
On October 31, 2007 David Mott joined Shire's Board of Directors as a Non Executive Director. Mr Mott is Chief Executive Officer and President of MedImmune, Inc, a role he was appointed to in 2000. He joined MedImmune in 1992 and has held positions of increasing responsibility in finance, strategic planning, business development, medical and regulatory including the positions of Chief Financial Officer and Chief Operating Officer. MedImmune was acquired by AstraZeneca (AZ) in June 2007, and Mr. Mott is also now serving as an executive vice president of AZ and a member of AZ's Senior Executive Team.
Mr Mott is a member of the Board of Directors of Rib-X Pharmaceuticals
and also serves on the Boards of Directors of t
|SOURCE Shire plc|
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