INTANGIBLE ASSETS AND GOODWILL (Tables)

6 Months Ended

Jun. 30, 2011

INTANGIBLE ASSETS AND GOODWILL

Schedule of components of intangible assets

			As of June 30, 2011							As of December 31, 2010
			Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-lived intangible assets:
	Product brands		$	4,947,614	$	(539,159	)	$	4,408,455	$	4,227,465	$	(404,951	)	$	3,822,514
	Corporate brands			177,966		(6,716	)		171,250		169,675		(2,191	)		167,484
	Product rights			876,739		(255,430	)		621,309		1,074,611		(279,275	)		795,336
	Partner relationships			135,754		(6,450	)		129,304		—		—			—
	Out-licensed technology and other			230,476		(36,148	)		194,328		205,332		(17,842	)		187,490
		Total finite-lived intangible assets		6,368,549		(843,903	)		5,524,646		5,677,083		(704,259	)		4,972,824
Indefinite-lived intangible assets:
	Acquired IPR&D			1,435,261		—			1,435,261		1,399,956		—			1,399,956
			$	7,803,810	$	(843,903	)	$	6,959,907	$	7,077,039	$	(704,259	)	$	6,372,780

Schedule of amortization expense related to intangible assets

	Three Months Ended June 30				Six Months Ended June 30
	2011		2010		2011		2010
Alliance and royalty revenue	$	268	$	268	$	536	$	536
Cost of goods sold		2,025		2,025		4,051		4,051
Amortization expense		114,946		33,299		226,989		66,599
	$	117,239	$	35,592	$	231,576	$	71,186

Schedule of estimated aggregate amortization expense for each of the five succeeding years

	2011		2012		2013		2014		2015
Amortization expense	$	568,585	$	532,388	$	529,162	$	519,943	$	506,252

Schedule of changes in the carrying amount of goodwill

	U.S. Neurology and Other		U.S. Dermatology			Canada and Australia			Branded Generics — Europe			Branded Generics — Latin America			Total
Balance, January 1, 2011	$	1,379,516	$	498,508		$	394,787		$	352,736		$	375,829		$	3,001,376
Additions(a)		—		—			5,388			172,157			—			177,545
Adjustments(b)		187,248		(338	)		(32,963	)		(24,623	)		(12,858	)		116,466
Foreign exchange and other		—		—			16,271			25,165			22,094			63,530
Balance, June 30, 2011	$	1,566,764	$	498,170		$	383,483		$	525,435		$	385,065		$	3,358,917

(a)

Relates to the acquisitions of PharmaSwiss and Ganehill (as described in note 3).

(b)

Reflects the impact of measurement period adjustments related to the Merger (as described in note 3).