Navigation Links
IFRS Information - First Half of 2007
Date:9/13/2007

cognized on the effective settlement of the pre-existing relationship under US GAAP, however under IFRS a pre-tax charge of $100.0 million, together with related tax effects of $32.7 million, has been recognized as of the acquisition date.

A charge has arisen under IFRS as up-front and milestone payments made in 2005 and 2006 in respect of the collaboration totaling $100.0 million were classified as intangible assets: these assets have been written-off on effective settlement of the pre-existing relationship. Under US GAAP these up-front and milestone payments had, prior to the acquisition of New River, been expensed by Shire as research and development costs. Accordingly no charge on effective settlement of the pre-existing relationship has been recorded under US GAAP.

Other significant differences between net income under IFRS and the net (loss) / income as reported under US GAAP for the six months ended June 30, 2007 and 2006 related to:

Goodwill Impairment

An impairment under IFRS of the goodwill that arose on the acquisition of Biochem Pharma Inc. of $80.9 million (2006: $nil). The US GAAP treatment of the combination as a pooling of interests resulted in no goodwill arising and therefore no impairment charge is recorded under US GAAP.

Capitalisation of product milestone payments

Product milestone payments of $5.9 million (2006: $50.0 million) were capitalized as intangible assets under IFRS but expensed as research and development costs under US GAAP. Capitalized milestone payments in 2006 related to a milestone paid in respect of the New River collaboration.

Finance costs in respect of convertible bonds

Finance costs recognized in respect of the $1,100.0 million 2.75% convertible bonds due 2014 are $5.9 million (2006: $nil) higher under IFRS as compared to US GAAP.

Under both US GAAP and IFRS finance costs include the stated coupon on the bonds, together with amortization of the direct costs of issue. Howe
'/>"/>

SOURCE Shire plc
Copyright©2007 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. Imaging and Analysis of DIGE Product Information Sheet, Rev B
2. Study affirms information technology-productivity link
3. TrafficCast integrates new information source
4. Rote education fails the Information Age
5. Weather information companies launch data product
6. TeraMedica launches information manager
7. Global information firm reaches diverse markets
8. Preparing for avian flu with information technology
9. Businesses cant hide personal information losses, theft
10. S.C. Johnson lands in No. 2 spot in Information Week 500 list
11. Crate and Barrel deploys Firstlogics Information Quality Suite
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/28/2014)... 28, 2014 Best Sanitizers, Inc., a ... food processing industry, is asking industry professionals to prepare ... of the E2 soap they’re currently using to the ... . Hand hygiene is critical to fighting cross-contamination ... environment. Six key criteria are identified to evaluate the ...
(Date:8/28/2014)... 28, 2014 “This kit has an improved ... from 0 to 150 ppb,” said Mark Tess, PhD, Mycotoxin ... benefit to plant owners and USDA-GIPSA inspection agencies that have ... Testing can take place in a matter of minutes with ... plant test the feed and grain before accepting it, but ...
(Date:8/28/2014)... converters are important devices in spintronics, an electronic ... of electrons but also on their spin and ... of electric into magnetic signals and vice versa. ... from the Institute of Physics at Johannes Gutenberg ... UK, Prague, and Japan, has for the first ...
(Date:8/28/2014)... 28, 2014 The ability for organizations ... that will allow individuals to perform at the highest ... for employers looking to compete in this post–recession era. ... this trend, as the sector increasingly focuses on the ... which will have real results on the organization's development ...
Breaking Biology Technology:Best Sanitizers, Inc. Asks Food Industry Professionals: With Fall Harvest On the Way, Is Your E2 Hand Soap Up to the Task? 2A new, tunable device for spintronics 2A new, tunable device for spintronics 3Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 2Klein Hersh International Leads Philadelphia Area Life Science Industry in Company Culture 3
... Inc., announced today the appointment of Ellen McDonald to ... Business Operations and Chief Business Officer, effective immediately. ... experience in the biopharmaceutical industry, with expertise heading business ... report to David J. Mazzo, Ph.D., the Company,s President ...
... CGCP), a leading developer of surgical products used in the ... addition of veteran medical device executive and an experienced public ... Company,s Board of Directors, increasing the number of board members ... Cohen, 49, has over 25 years of executive experience in ...
... a Stand-Alone Product , , ... used a one-of-a-kind air filtration technology in a bid to ... environmental design. , , The ... Geographic earn three points for its LEED-EB 2.0* re-certification application ...
Cached Biology Technology:Ellen McDonald Joins Regado Biosciences as Senior Vice President of Business Operations and Chief Business Officer 2Cardiogenesis Announces Addition of Raymond W. Cohen to Board of Directors 2Cardiogenesis Announces Addition of Raymond W. Cohen to Board of Directors 3National Geographic Uses Air Filtration in Bid To Be an Energy, Environmental Leader 2
(Date:8/29/2014)... such as the prolific bloomer Emiliania huxleyi , ... discovered. The finding contradicts the common view that ... on scarce supplies of thiamine in the ocean to ... about the ocean," says CIFAR Senior Fellow Alexandra ... paper with CIFAR fellows John Archibald (Dalhousie ...
(Date:8/28/2014)... is now available from the Lady Bird Johnson Wildflower ... identifying harmful non-native plant, insect and other invasive species ... cause about $137 billion in economic and other damage ... native plants and more. , "By having streamlined tools ... species occur, we,re more likely to catch these threats ...
(Date:8/28/2014)... available in German . ... its name to a striking pattern of blue stripes alternating ... reflective silvery cells, and yellow cells emerge during growth in ... a multilayered mosaic to compose the characteristic colour pattern. ... have to interact to form proper stripes, the embryonic origin ...
Breaking Biology News(10 mins):Not all phytoplankton in the ocean need to take their vitamins 2Not all phytoplankton in the ocean need to take their vitamins 3Mobile app makes ID of harmful plants, insects in Texas a snap 2How the zebrafish gets its stripes 2How the zebrafish gets its stripes 3
... The side effects of an experimental "gene-silencing" treatment ... of diseases are even more wide-ranging than previously ... of Kentucky researcher. Following up on groundbreaking research ... Jayakrishna Ambati, a UK ophthalmologist , and his ...
... Applications (CRC Publisher, 2009), a new reference book ... http://web.njit.edu/shih offers a comprehensive overview of ... image processing. More than merely a tutorial on ... into a theoretical framework. Morphology is the identification, ...
... (NTU) and Imperial College London have signed an ... these two leading universities to offer highly attractive ... and science. The NTU-Imperial College Joint ... in Bioengineering and Chemical and Biomolecular Engineering. It ...
Cached Biology News:Ambati study published in PNAS 2Ambati study published in PNAS 3Image processing and mathematical morphology in new text by NJIT professor 2Imperial College London and NTU collaborate to offer joint Ph.D. programs in engineering and science 2
2 ml SmartScan Racks...
Leptin Receptor Polyclonal Ab 100 ug purified rabbit anti-mouse Leptin Receptor. Tested in Western blotting....
... a compact, highly versatile power supply. Capable of ... this power supply is ideal for PAGE, SDS-PAGE, ... all types of small format transfer apparatus. It ... constant current with a continuously variable output in ...
... PLAU N-term Antibody This antibody is generated ... synthetic peptide selected within aa 50~150 of ... in PBS with 0.09% (W/V) sodium azide. ... G column and eluted out with both ...
Biology Products: