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Inventories

3 Months Ended

Mar. 31, 2014

7. Inventories

At March 31, 2014 inventories include $95.4 million in respect of the fair value of inventories acquired with ViroPharma, stated at fair value (being estimated selling price less estimated costs to complete and sell). All other inventories are stated at the lower of cost or market. Inventories comprise:

	March 31,	December 31,
	2014	2013
	$’M	$’M
	____________	____________
Finished goods	248.8	156.6
Work-in-progress	283.2	240.5
Raw materials	104.2	58.2
	____________	____________
	636.2	455.3
	____________	____________

- 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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