INTANGIBLE ASSETS AND GOODWILL (Tables)

3 Months Ended

Mar. 31, 2012

INTANGIBLE ASSETS AND GOODWILL

Schedule of components of intangible assets

			As of March 31, 2012							As of December 31, 2011
			Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Finite-lived intangible assets:
Product brands			$	6,635,172	$	(932,183	)	$	5,702,989	$	6,442,371	$	(737,876	)	$	5,704,495
	Corporate brands			217,553		(14,626	)		202,927		181,349		(10,630	)		170,719
	Product rights			1,415,268		(328,790	)		1,086,478		1,302,748		(306,936	)		995,812
	Partner relationships			164,590		(20,889	)		143,701		135,095		(15,633	)		119,462
	Out-licensed technology and other			184,240		(42,893	)		141,347		174,873		(38,915	)		135,958
		Total finite-lived intangible assets		8,616,823		(1,339,381	)		7,277,442		8,236,436		(1,109,990	)		7,126,446
Indefinite-lived intangible assets:
	Acquired IPR&D			531,372		—			531,372		531,352		—			531,352
			$	9,148,195	$	(1,339,381	)	$	7,808,814	$	8,767,788	$	(1,109,990	)	$	7,657,798

Schedule of amortization expense related to intangible assets

	Three Months Ended March 31
	2012		2011
Alliance and royalty revenue	$	—	$	268
Cost of goods sold		2,026		2,026
Amortization expense		200,643		112,043
	$	202,669	$	114,337

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

	2012		2013		2014		2015		2016
Amortization expense	$	825,622	$	831,278	$	821,745	$	802,754	$	802,521

Schedule of changes in the carrying amount of goodwill

	U.S. Dermatology		U.S. Neurology and Other		Canada and Australia		Emerging Markets		Total
Balance, January 1, 2012(a)	$	491,651	$	1,542,203	$	498,198	$	1,066,734	$	3,598,786
Additions(b)		1,479		—		—		54,843		56,322
Adjustments(c)		—		—		13,209		—		13,209
Foreign exchange and other		—		—		9,708		52,254		61,962
Balance, March 31, 2012	$	493,130	$	1,542,203	$	521,115	$	1,173,831	$	3,730,279

(a)

Effective in the first quarter of 2012, the Company has four reportable segments: U.S. Dermatology, U.S. Neurology and Other, Canada and Australia and Emerging Markets. Accordingly, the Company has restated prior period segment information to conform to the current period presentation. For further details, see note 18 titled "SEGMENT INFORMATION".

(b)

Relates to the Gerot Lannach, Probiotica and Eyetech acquisitions (as described in note 3).

(c)

Reflects the impact of measurement period adjustments related to the iNova and Afexa acquisitions (as described in note 3).