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Property, Plant and Equipment
12 Months Ended
Dec. 31, 2011
Property, Plant and Equipment  
Property, Plant and Equipment

7                    Property, Plant and Equipment

 

Property, plant and equipment consisted of the following:

 

 

 

Useful lives in years from

 

December 31,

 

 

 

date of acquisition

 

2010

 

2011

 

 

 

 

 

$000

 

$000

 

Leasehold improvements

 

5 to 15 yrs

 

844

 

844

 

Research and laboratory equipment

 

3 to 5 yrs

 

6,281

 

6,251

 

Office equipment and furniture

 

3 to 5 yrs

 

1,267

 

1,273

 

 

 

 

 

8,392

 

8,368

 

Less: accumulated depreciation and amortization

 

 

 

(7,984

)

(8,201

)

 

 

 

 

408

 

167

 

 

The depreciation and amortization of property, plant and equipment amounted to $0.7 million, $0.5 million and $0.2 million for the years ended December 31, 2009, 2010 and 2011, respectively.

 

Depreciation and amortization expense for the period from inception or August 13, 1996 through December 31, 2011 was $12.6 million. At December 31, 2010 and 2011 there were no assets held under capital lease arrangements.

 

As a result of the Company revising its operating plan in September 2008, the Company identified that certain research and development assets at its Cambridge, UK facility would no longer be utilized (see Note 12 — “Restructuring”).  For the year ended December 31, 2009, the Company recorded an asset impairment of $0.2 million in respect of these assets as accelerated depreciation in accordance with ASC 360, which is shown within research and development expense on the consolidated statement of operations. There were no impairments of property, plant and equipment during the years ended December 31, 2010 and 2011.