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Melt butter in medium skillet over medium-high heat. Add shallots, shrimp, and thyme. Saute 2 minutes. Add white wine and half broth, bring to boil and simmer 2 minutes. Remove shrimp from sauce and set aside. Continue to simmer sauce until reduced to 1 cup, about 10 minutes. Add the rest of the broth, heavy cream and white pepper. Bring to a boil and simmer until thick, 5 to 8 minutes. Return shrimp to sauce and heat thoroughly, about 3 minutes. Serve.
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