Amgen 2013 Annual Report Download - page 105
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Identifiable intangible assets
Identifiable intangible assets consisted of the following as of December 31, 2013 and 2012 (in millions):
Finite-lived intangible assets:
Developed product technology rights $10,130
$(3,347)
$6,783
$4,220
$ (2,942)
$1,278
Licensing rights 3,241
(366)
2,875
445
(268)
177
R&D technology rights 1,207
(496)
711
1,130
(411)
719
Marketing-related rights 619
(366)
253
648
(313)
335
Total finite-lived intangible assets 15,197
(4,575)
10,622
6,443
(3,934)
2,509
Indefinite-lived intangible assets:
IPR&D 2,640
—
2,640
1,459
—
1,459
Total identifiable intangible assets $ 17,837
$(4,575)
$13,262
$7,902
$(3,934)
$3,968
Developed product technology rights consist of rights related to marketed products acquired in business combinations. Licensing rights are composed
primarily of intangible assets acquired as part of the acquisition of Onyx and capitalized payments to third parties for milestones related to regulatory
approvals to commercialize products and up-front payments associated with royalty obligations for marketed products. R&D technology rights consist of
technology used in R&D with alternative future uses. Marketing-related intangible assets are composed primarily of rights related to the sale and distribution of
marketed products. For information related to the acquisition of certain of these intangible assets, see Note 2, Business combinations.
IPR&D consists of R&D projects acquired in a business combination which are not complete due to remaining technological risks and/or the lack of
receipt of the required regulatory approvals. These projects include Kyprolis ®, a treatment for multiple myeloma being developed for use outside the U.S.
(excluding Japan) acquired in the Onyx transaction; velcalcetide, a treatment for secondary hyperparathyroidism in patients with CKD who are on dialysis
acquired in the KAI transaction; blinatumomab, a treatment for ALL acquired in the Micromet transaction, and talimogene laherparepvec, a treatment for
melanoma acquired in the BioVex transaction (see Note 2, Business combinations).
During the years ended December 31, 2013, 2012 and 2011, we recognized amortization charges associated with our finite-lived intangible assets of
$642 million, $397 million and $380 million, respectively. The total estimated amortization for each of the next five years for our intangible assets is $1.2
billion, $1.2 billion, $1.2 billion, $1.1 billion and $902 million in 2014, 2015, 2016, 2017 and 2018, respectively.
Accrued liabilities consisted of the following as of December 31, 2013 and 2012 (in millions):
Sales deductions $ 1,248
$1,129
Employee compensation and benefits 1,003
1,010
Clinical development costs 522
361
Dividends payable 460
355
Sales returns reserve 295
346
Other 1,127
1,590
Total accrued liabilities $4,655
$4,791
F-29