Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2016

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other Intangible Assets Disclosure

10.       Other Intangible Assets, net

		March 31,	December 31,
		2016	2015
		$’M	$’M
		________________	________________
Amortized intangible assets
	Acquired intellectual property ("IP") rights for marketed products	9,507.2	9,371.9
	Other intangible assets	800.0	375.0
		________________	________________
		10,307.2	9,746.9
Unamortized intangible assets
	Acquired IP rights for in-process research and development ("IPR&D")	5,462.0	1,362.0
		________________	________________
		15,769.2	11,108.9
Less: Accumulated amortization		(2,053.6)	(1,935.6)
		________________	________________
		13,715.6	9,173.3
		________________	________________

Other intangible assets primarily are comprised of royalty rights associated with NPS and Dyax. As of March 31, 2016 accumulated amortization includes $1,938.6million of accumulated amortization for intellectual property rights acquired for currently marketed productsand $115.0million for other intangible assets. As of December 31, 2015 accumulated amortization includes $1,852.1million of accumulated amortization for IP rights acquired for currently marketed products and $83.5million for other intangible assets.

The change in the net book value of intangible assets for the three monthsendedMarch 31, 2016and 2015is shown in the table below:

	Intangible Assets
	2016	2015
	$’M	$’M
	________________	________________
As of January 1,	9,173.3	4,934.4
Acquisitions	4,660.9	5,198.0
Amortization charged	(134.6)	(88.3)
Foreign currency translation	16.0	(64.1)
	________________	________________
As of March 31,	13,715.6	9,980.0
	________________	________________

In connection with our acquisition of Dyax on January 22, 2016, the Company acquired IP rights related to marketed products of $135 million, IPR&D assets of $4,100 million and royalty rights intangible of $425 million. For a more detailed description of this transaction, please see Note 2, Business Combinations, to these UnauditedConsolidated Financial Statements.

Selling, general and administrative costs include amortization of intangible assets relating to intellectual property rights acquired of $134.6 million for the three months ended March 31, 2016 (2015: $88.3 million).

The Company reviews its amortized intangible assets for impairment whenever events or circumstances suggest that their carrying value may not be recoverable. Unamortized intangible assets are reviewed for impairment annually or whenever events or circumstances suggest that their carrying value may not be recoverable.