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

uity components. The fair value of the debt component is estimated using the market interest rate for an equivalent non-convertible bond. The amount allocated to the debt component is classified as a liability and measured on an amortized cost basis until extinguished on conversion or redemption of the bonds. The remainder of the proceeds of issuing the convertible bond is allocated to the equity component, (which represents the conversion option), and is classified in shareholders' equity, net of any income tax effects. The carrying amount of the equity component is not re-measured in subsequent periods.

3. Business Combinations

On April 19, 2007 Shire completed its acquisition of New River by way of a short-form merger, in an all-cash transaction. The acquisition was effected by merging Shuttle Corporation, an indirect wholly owned subsidiary of Shire, with and into New River, with New River continuing as the surviving corporation. As consideration, Shire paid to New River's shareholders $64 in cash for each share of New River common stock outstanding at the time of the acquisition.

The acquisition of New River allows Shire to capture the full economic value of VYVANSE, and gain control of the future development and commercialization of this product.

The pediatric indication of VYVANSE was approved by the FDA on February 23, 2007 and Shire received notification from the DEA of the final Schedule II classification for VYVANSE on May 3, 2007.

The acquisition of New River has been accounted for as a purchase business combination in accordance with IFRS 3 "Business Combinations" ("IFRS 3"). Under the purchase method of accounting, the assets and liabilities of New River are recorded at their fair values at the acquisition date. The financial statements and reported income statement of Shire issued after the completion of the acquisition reflect these fair values, with the results of New River being included within the Consolidated Income
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SOURCE Shire plc
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