Shire received cash refunds of US$248 million (C$266 million)(1)
. Shire Canada is entitled to receive additional cash refunds of US$162 million (C$174 million)(1)
, expected in late 2014. Following receipt of the assessments Shire recorded a net credit to income taxes of US$216 million in the second quarter of 2014. This income tax credit has been excluded from Non GAAP income, and will therefore not impact Shire's Non GAAP core effective tax rate in 2014.
The assessments do not impact Shire's current or future income tax profile.
(1) Translated using a CAD:USD exchange rate of 1:0.93, being the exchange rate on the date of receipt.
In respect of the six months ended June 30, 2014 the Board resolved to pay an interim dividend of 3.83 US cents per Ordinary Share (2013: 3.00 US cents per Ordinary Share).
Dividend payments will be made in Pounds Sterling to holders of Ordinary Shares and in US Dollars to holders of ADSs. A dividend of 2.24(1) pence per Ordinary Share (an increase of 15% compared to 2013: 1.95 pence) and 11.49 US cents per ADS (an increase of 28% compared to 2013: 9.00 US cents) will be paid on October 3, 2014 to shareholders on the register as at the close of business on September 5, 2014.
(1) Translated using a GBP:USD exchange rate of 1.7093.
The following additional information is included in this press release:
Page Overview of Second Quarter 2014 Financial Results 8 Financial Information 12 Non GAAP Reconciliation 21 Notes to Editors 26 Safe Harbor Statement 28 Explanation of Non GAAP Measures 29 Trade Marks 30
OVERVIEW OF SECOND QUARTER 2014 FINANCIAL RESULTS
1. Product sales
For the three months to June 30, 2014 product sales increased by 22%(1) to $1,470 million (Q2 2013: $1,208 million) and represented 98% of total 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 medicine technology :1
. Shire Waives OFT Condition Relating to the Acquisition of ViroPharma Inc.2
. arGEN-X Receives Two Preclinical Milestone Payments Under Collaboration With Shire3
. Shire Extends Tender Offer for ViroPharma4
. Shire Reports Top-Line Results on OPUS-2, a Phase 3 Study Investigating the Use of Lifitegrast (5.0% Ophthalmic Solution) in Adults With Dry Eye Disease5
. MinuteClinic Opens First Clinic Locations in New Hampshire6
. Block & Leviton LLP Investigates ViroPharma Inc. for Possible Breaches of Fiduciary Duty in Connection with Its Acquisition by Shire PLC.7
. Shire to Present at the Bank of America Merrill Lynch Global Health Care Conference8
. Shire to Present at the Morgan Stanley Global Healthcare Conference9
. Shire Reports 7% Product Sales Growth: Anticipating Double Digit Non GAAP Earnings Growth in 201310
. Shire Announces Award Recipients for 2013 US ADHD Scholarship Program11
. Shire to Present Scientific Data Across a Range of Psychiatric Disorders at American Psychiatric Association Annual Meeting