Intangible Assets

6 Months Ended

Jun. 30, 2016

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other Intangible Assets Disclosure

9.Intangible Assets

(in millions)		IP rights for marketed products	Other intangible assets	IPR&D Unamortized	Total
June 30, 2016
	Gross acquired intangible assets	33,929.5	872.2	8,371.8	43,173.5
	Accumulated amortization	(2,142.8)	(140.4)	-	(2,283.2)
	Other intangible assets, net	31,786.7	731.8	8,371.8	40,890.3
December 31, 2015
	Gross acquired intangible assets	9,371.9	375.0	1,362.0	11,108.9
	Accumulated amortization	(1,852.1)	(83.5)	-	(1,935.6)
	Other intangible assets, net	7,519.8	291.5	1,362.0	9,173.3

Other intangible assets are comprised primarily of royalty rights and other contract rights associated with Baxalta, Dyax and NPS.

The change in the net book value of intangible assets for the six monthsendedJune 30, 2016 and 2015is shown in the table below:

	Intangible Assets
	2016	2015
	$’M	$’M
	________________	________________
As of January 1,	9,173.3	4,934.4
Acquisitions	32,222.2	5,167.8
Amortization charged	(347.6)	(219.6)
Impairment charges	(8.9)	(523.3)
Foreign currency translation	(148.7)	(48.9)
	________________	________________
As of June 30,	40,890.3	9,310.4
	________________	________________

In connection with the acquisition of Baxalta on June 3, 2016, the Company acquired IP rights related to marketed products of $24,550.0 million, IPR&D assets of $2,940.0 million and other contract rights of $72.2 million. For a more detailed description of this acquisition, please see Note 2, Business Combinations, to these UnauditedConsolidated Financial Statements.

In connection with the 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 of $425 million. For a more detailed description of this acquisition, please see Note 2, Business Combinations, to these UnauditedConsolidated Financial Statements.

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.

The estimated future amortization of acquired intangible assets for the next five years is expected to be as follows:

(in millions)	Anticipated future amortization
	_______________
2016 (remaining six months)	706.1
2017	1,411.3
2018	1,404.6
2019	1,325.8
2020	1,321.7
2021	1,315.4