SUBSEQUENT EVENTS AND PENDING ACQUISITIONS

3 Months Ended

Mar. 31, 2012

SUBSEQUENT EVENTS AND PENDING ACQUISITIONS

SUBSEQUENT EVENTS AND PENDING ACQUISITIONS

19.   SUBSEQUENT EVENTS AND PENDING ACQUISITIONS

• University Medical Pharmaceuticals Corp.

  On May 2, 2012, the Company entered into an agreement to acquire certain assets from University Medical Pharmaceuticals Corp. ("University Medical"), a specialty pharmaceutical company focused on skincare products, for approximately $64.0 million plus potential future milestones. University Medical's main brand is AcneFree, a retail OTC acne treatment. The transaction is subject to certain closing conditions and is expected to close by mid-year 2012.

  Atlantis Pharma

  On May 2, 2012, the Company acquired certain assets from Atlantis Pharma ("Atlantis"), a branded generics pharmaceutical company located in Mexico, for approximately $71.0 million. Atlantis has a broad product portfolio, including products in gastro, analgesics and anti-inflammatory therapeutic categories.

  The transaction will be accounted for as a business combination under the acquisition method of accounting. The Company will record the assets acquired and liabilities assumed at their fair values as of the acquisition date. Due to the limited time since the closing of the acquisition, the valuation efforts and related acquisition accounting are incomplete at the time of filing of the consolidated financial statements. As a result, the Company is unable to provide amounts recognized as of the acquisition date for major classes of assets and liabilities acquired, including goodwill. In addition, because the acquisition accounting is incomplete, the Company is unable to provide the supplemental pro forma revenue and earnings for the combined entity, as the pro forma adjustments are expected to primarily consist of estimates for the amortization of identifiable intangible assets acquired and related income tax effects, which will result from the purchase price allocation and determination of the fair values for the assets acquired and liabilities assumed.

  Pedinol Pharmacal, Inc.

  On April 11, 2012, the Company acquired Pedinol Pharmacal, Inc., a podiatry-focused, privately-owned specialty pharmaceutical company based in the U.S., for an up-front purchase price of $21.5 million.

  Natur Produkt International, JSC

  On March 26, 2012, the Company entered into an agreement to acquire Natur Produkt International, JSC ("Natur Produkt"), a specialty pharmaceutical company in Russia, for approximately $180.0 million, with an additional $5.0 million in potential future milestones. Natur Produkt's key brand products include AntiGrippin®, Anti Angin®, Sage and Eucaplyptus MA. The transaction is subject to certain closing conditions and regulatory approvals and is expected to close by mid-year 2012.