Subsequent Event Subsequent Event

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Event

Subsequent event

On October 30, 2017, we announced that we had agreed to acquire the remaining 50% ownership of K-A from Kirin, making K-A a wholly owned subsidiary of Amgen. Under the terms of the agreement, Kirin will receive $780 million for its shares of K-A. Amgen will make additional payments to Kirin upon the occurrence of certain sales (valued by Amgen at approximately $30 million). As sole shareholder of K-A, Amgen will own the product rights and remaining cash held by K-A. License agreements between K-A and Kirin in certain Asian territories, as well as license agreements with J&J, will remain in place. See Note 8, Related party transactions.

The transaction will be accounted for as a business combination and was effective in the first quarter of 2018. Given the timing of the closing of this share transaction, we are currently in the process of valuing the assets acquired and liabilities assumed in the business combination. As a result, we are not yet able to provide the amounts to be recognized as of the share acquisition date for the major classes of assets acquired and liabilities assumed and other related disclosures. We will disclose this and other related information in our Form 10-Q for the quarter ended March 31, 2018.