Shire Receives US$248 Million Cash Refund From the Canadian Revenue Authorities, Expects a Further US$162 Million in Late 2014

Dublin (ots/PRNewswire) -

Shire plc ("Shire" or the "Company") announces that its Canadian
subsidiary(1) has received assessments from the Canadian revenue
authorities, entitling it to total cash refunds equivalent to US$410
million(2).

Following receipt of the assessments(3), the Company has recorded
a net credit to income taxes amounting to US$216 million. This income
tax credit will be excluded from Non GAAP income, and will not impact
Shire's Non GAAP core effective tax rate in 2014.

The assessments do not impact the Company's current or future
income tax profile.

Shire intends to use the cash receipts to repay debt, providing
Shire with increased capacity to invest in focussed business
development activities.

References:

(1) Shire Canada Inc ("Shire Canada")

(2) On June 24, 2014 Shire Canada received cash refunds of C$266
million (US$248 million). As a result of the assessments, Shire
Canada is entitled to receive additional cash refunds of C$174
million (US$162 million), expected in late 2014. All amounts in this
release have been translated using a C$:US$ exchange rate of 1:0.93,
being the exchange rate on June 24, 2014.

(3) The assessments agreed with original positions adopted by
Shire Canada in its Canadian tax returns for the period 1999-2004.

NOTES TO EDITORS

Shire enables people with life-altering conditions to lead better
lives.

Our strategy is to focus on developing and marketing innovative
specialty medicines to meet significant unmet patient needs.

We focus on providing treatments in Neuroscience, Rare Diseases,
Gastrointestinal, and Internal Medicine and we are developing
treatments for symptomatic conditions treated by specialist
physicians in other targeted therapeutic areas, such as
Ophthalmology.

http://www.shire.com

FORWARD-LOOKING STATEMENTS - "SAFE HARBOR" STATEMENT UNDER THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Statements included in this announcement that are not historical
facts are forward-looking statements. Forward-looking statements
involve a number of risks and uncertainties and are subject to change
at any time. In the event such risks or uncertainties materialize,
Shire's results could be materially adversely affected. The risks and
uncertainties include, but are not limited to, that:

- Shire's products may not be a commercial success;
- revenues from ADDERALL XR are subject to generic erosion and revenues from
INTUNIV will become subject to generic competition starting in December 2014;
- the failure to obtain and maintain reimbursement, or an adequate level of
reimbursement, by third-party payors in a timely manner for Shire's products may
impact future revenues, financial condition and results of operations;
- Shire conducts its own manufacturing operations for certain of its Rare
Diseases products and is reliant on third party contractors to manufacture other
products and to provide goods and services. Some of Shire's products or ingredients
are only available from a single approved source for manufacture. Any disruption to
the supply chain for any of Shire's products may result in the Shire being unable to
continue marketing or developing a product or may result in Shire being unable to do
so on a commercially viable basis for some period of time.
- the development, approval and manufacturing of Shire's products is subject to
extensive oversight by various regulatory agencies. Submission of an application for
regulatory approval of any of our product candidates, such as our planned submission
of a New Drug Application to the FDA for Lifitegrast as a treatment for the signs and
symptoms of dry eye disease in adults, may be delayed for any number of reasons and,
once submitted, may be subjected to lengthy review and ultimately rejected. Moreover,
regulatory approvals or interventions associated with changes to manufacturing sites,
ingredients or manufacturing processes could lead to significant delays, increase in
operating costs, lost product sales, an interruption of research activities or the
delay of new product launches;
- the actions of certain customers could affect Shire's ability to sell or
market products profitably. Fluctuations in buying or distribution patterns by such
customers can adversely impact Shire's revenues, financial conditions or results of
operations;
- investigations or enforcement action by regulatory authorities or law
enforcement agencies relating to Shire's activities in the highly regulated markets in
which it operates may result in the distraction of senior management, significant
legal costs and the payment of substantial compensation or fines;
- adverse outcomes in legal matters and other disputes, including Shire's
ability to enforce and defend patents and other intellectual property rights required
for its business, could have a material adverse effect on Shire's revenues, financial
condition or results of operations;
- Shire faces intense competition for highly qualified personnel from other
companies, academic institutions, government entities and other organizations. Shire
is undergoing a corporate reorganization and the consequent uncertainty could
adversely impact Shire's ability to attract and/or retain the highly skilled personnel
needed for Shire to meet its strategic objectives;
- failure to achieve Shire's strategic objectives with respect to the
acquisition of ViroPharma Incorporated may adversely affect Shire's financial
condition and results of operations;

and other risks and uncertainties detailed from time to time in
Shire's filings with the U.S. Securities and Exchange Commission,
including its most recent Annual Report on Form 10-K.

For further information please contact:

Investor Relations
Jeff Poulton
jpoulton@shire.com
+1-781-482-0945

Sarah Elton-Farr
seltonfarr@shire.com
+44-1256-894157

Media
Stephanie Fagan
sfagan@shire.com
+1-201-572-9581

ots Originaltext: Shire Pharmaceuticals Group Plc
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