Shire has entered into an agreement to acquire New River Pharmaceuticals, Inc. for approximately $2.6 billion in cash.

"We are delighted to be entering into this transaction with Shire, which will assume full responsibility for the commercialization of Vyvanse, as well as the development of our other pipeline compounds," said Randal J. Kirk, New River's founder, chairman and chief executive officer. "We are proud of the accomplishments of the New River team during the course of the past ten years, and have confidence in Shire's commitment and ability to optimize the therapeutic and commercial potential of the New River portfolio. Shire has a proven track record of success in developing and commercializing products, as evidenced by the success of the Adderall XR franchise."

The transaction has been approved by both companies' boards of directors and is expected to close early in the second quarter.

West

4Q Revenues: $231.9 million (+18.5%)

4Q Earnings: $15 million (+20%)

FY Revenues: $913.3 million (+30%)

FY Earnings: $67 million (+45%)

Comments: The pharmaceutical systems business sales were $164 million, up 20% in the quarter. Significant product area sales gains came from prefilled syringe components, vial stopper products, and disposable syringe components and Flip-Off seals. The Tech Group sales were $70 million in the quarter, up 14%. Revenue growth was driven by $8.9 million in sales of the Exubera Inhalable Insulin device in support of Pfizer's introduction of the product in the U.S., up from $1.1 million in 2Q2005.

Bristol-Myers Squibb has completed the land purchase of an 89-acre site from MassDevelopment for its new large-scale multi-product bulk biologics manufacturing facility in Devens, MA. The two companies have also finalized agreements related to the facility's utility infrastructure, including waste water treatment, use of electricity, water, and natural gas. Construction on the facility is expected to begin in the next several weeks, and is projected to be operational in 2009. The company plans to submit the site for regulatory approval in 2010.

The new facility is expected to support increased production capacity for biologic compounds, such as Orencia, and help meet future production needs of compounds currently in development, including investigational treatments for solid organ transplant rejection and certain types of cancers.

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