Amgen 2012 Annual Report Download - page 111
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F-12
synergies and other benefits from combining KAI with our nephrology development and commercialization activities and the
deferred tax consequences of indefinite-lived intangible assets recorded for financial statement purposes.
Our accounting for this acquisition is preliminary and will be finalized upon completion of our analysis to determine the
acquisition date fair values of certain assets acquired, liabilities assumed and tax-related items.
Mustafa Nevzat Pharmaceuticals
On June 12, 2012, we acquired substantially all of the outstanding stock of Mustafa Nevzat Pharmaceuticals (MN), a
privately held company that is a leading supplier of pharmaceuticals to the hospital sector and a major supplier of injectable
medicines in Turkey. The transaction, which was accounted for as a business combination, provides us with the opportunity to
expand our presence in Turkey and the surrounding region. MN's operations have been included in our consolidated financial
statements commencing on the acquisition date.
The consideration to acquire MN totaled $677 million in cash which was allocated to the acquisition date fair values of
assets acquired and liabilities assumed as follows (in millions):
Finite-lived intangible assets $ 163
Property, plant and equipment 100
Trade receivables 79
Inventories 52
Goodwill 380
Deferred tax assets (liabilities), net (45)
Other assets (liabilities), net (52)
Total consideration $ 677
The finite-lived intangible assets acquired are related primarily to the fair values of MN's regulatory approvals and customer
relationships with regard to the marketing of pharmaceutical products and are being amortized on a straight-line basis over their
estimated useful lives. The weighted-average useful life of these intangible assets is eight years.
The excess of the acquisition date consideration over the fair values assigned to the assets acquired and the liabilities assumed
of $380 million was recorded as goodwill, which is not deductible for tax purposes. Goodwill is attributable primarily to MN's
expected continued commercial presence in Turkey and other benefits.
Our accounting for the acquisition is preliminary and will be finalized upon completion of our analysis to determine the
acquisition date fair values of certain assets acquired, liabilities assumed and tax-related items.
Micromet, Inc.
On March 7, 2012, we acquired Micromet, Inc. (Micromet), a publicly held biotechnology company focused on the discovery,
development and commercialization of innovative antibody-based therapies for the treatment of cancer, which became a wholly
owned subsidiary of Amgen. This transaction, which was accounted for as a business combination, provides us with an opportunity
to further expand our oncology pipeline. Micromet's operations have been included in our consolidated financial statements
commencing on the acquisition date.