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INVENTORIES

9 Months Ended

Sep. 30, 2012

NOTE 6—INVENTORIES

At September 30, 2012 and December 31, 2011, inventories consisted of the following (in thousands):

	September 30,		December 31,
	2012		2011
Raw materials	$	10,442	$	8,635
Work-in-process		40,740		10,554
Finished goods		38,377		23,662
Total	$	89,559	$	42,851

Short-term portion	$	74,891	$	42,851
Long-term portion	$	14,668	$	-

Inventory at September 30, 2012 includes $50.7 million of inventory acquired from eBioscience that includes an adjusted step-up in basis of $29.0 million as discussed in Note 2. "Acquisition." Amortization expense on the fair value step-up during the three and nine months ended September 30, 2012 was $4.5 million and $4.9 million, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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