Shire Continues to Deliver Excellent Growth From Cor...(of % of ...),Health

Date:10/30/2009

of % of 2009 product 2008 product $M sales $M sales Cost of product sales (US GAAP) 104.9 17% 84.2 12% Fair value adjustment for acquired inventories (0.6) - Accelerated depreciation on transfer of manufacturing from Owings Mills (4.5) - Depreciation (0.8) (3.2) Cost of product sales (Non GAAP) 99.0 16% 81.0 11%

Non GAAP cost of product sales as a percentage of product sales increased by 5 percentage points compared to 2008. This increase primarily results from changes to the product mix following the launch by Teva of an authorized generic version of ADDERALL XR in April 2009. Higher sales deductions on Shire's sales of branded ADDERALL XR, together with lower margin sales of the authorized generic version of ADDERALL XR to Teva and Impax have both depressed gross margin for that product.

    Research and development ("R&D")
                                                      % of              % of
                                             2009  product     2008  product
                                               $M    sales       $M    sales

    R&D (US GAAP)                           147.8      25%    120.2      17%
    Depreciation                             (3.6)             (3.4)
    R&D (Non GAAP)                          144.2      24%    116.8      16%

Non GAAP R&D increased 23% to $144.2 million (2008: $116.8 million) as the Company has continued to increase investment in R&D programs, including an up-front payment of $6.5 million to Santaris for technology access and R&D funding in August 2009. Non GAAP R&D as a percentage of product sales increased due to lower product sales in Q
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SOURCE Shire Plc Copyright©2009 PR Newswire. All rights reserved

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