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To: CapitalistHogg™ who wrote (443)	10/9/2006 10:42:03 AM
From: CapitalistHogg™	Read Replies (1) \| Respond to of 464

Shire jumps after U.S. green light for ADHD drug <<BETM event goes off. Stock price gaps up 13%.>> today.reuters.com LONDON, Oct 9 (Reuters) - Shares in Shire Plc (SHP.L: Quote, Profile, Research) rose over 9 percent in early Monday trading after U.S. regulators gave a green light to a new hyperactivity drug from the UK drugmaker and its partner New River Pharmaceuticals (NRPH.O: Quote, Profile, Research). Britain's third-biggest drugmaker said after the market close on Friday that the U.S. Food and Drug Administration had issued a so-called "approvable letter" for the two firms' NRP104 treatment for attention deficit hyperactivity disorder. Shire said full approval was contingent on the scheduling, or restrictions, placed on the drug by the Drug Enforcement Administration. NRP104 is a successor to Shire's top-selling Adderall XR, which loses patent protection in 2009. Shire believes the drug has the potential to make over $1 billion of sales a year. "With a now more benign risk profile and a strong track record of executive, we believe the company should be accorded a multiple more commensurate with its growth rate and leading companies in the sector," Deutsche Bank analysts wrote in a research note, raising their price target for Shire's American Depositary Receipts (ADRs) to $75 from $60. They believe Shire can grow earnings per share by 25-35 percent a year over the next three to four years. At 0810 GMT, Shire shares were up 8.3 percent at 950 pence, the biggest rise on the UK's benchmark FTSE 100 index (.FTSE: Quote, Profile, Research) and valuing the business at about 4.8 billion pounds ($9.1 billion). They earlier touched a five-year high of 963p. © Reuters 2006. All Rights Reserved.