Quarterly report pursuant to Section 13 or 15(d)

Acquisitions Investments and Licenses (Tables)

v2.4.0.6
Acquisitions Investments and Licenses (Tables)
6 Months Ended
Jun. 30, 2012
Business Acquisition [Line Items]  
Estimated fair value of the net assets acquired at the date of acquisition

The following table summarizes the estimated fair value of the net assets acquired and liabilities assumed in the acquisition of FineTech at the date of acquisition, which are subject to change while contingencies that existed on the acquisition date are resolved:

 

         

(in thousands)

     

Current assets (including cash of $2,000)

  $ 3,358  

Intangible assets:

       

Customer relationships

    14,200  

Technology

    2,700  

Non-compete

    1,500  

Tradename

    400  
   

 

 

 

Total intangible assets

    18,800  

Goodwill

    11,623  

Plant and equipment

    1,358  

Other assets

    1,154  

Accounts payable and accrued expenses

    (910

Deferred tax liability

    (2,457

Contingent consideration

    (4,747
   

 

 

 

Total purchase price

  $ 28,179  
   

 

 

 

The following table summarizes the estimated fair value of the net assets acquired and liabilities assumed in the acquisition of OPKO Diagnostics at the date of acquisition, which are subject to change while contingencies that existed on the acquisition date are resolved:

 

         

(in thousands)

     

Current assets (including cash of $351)

  $ 378  

Technology

    44,400  

Goodwill

    17,977  

Equipment

    333  

Other assets

    18  

Accounts payable and accrued expenses

    (655

Deferred tax liability

    (17,254

Contingent consideration

    (12,745
   

 

 

 

Total purchase price

  $ 32,452  
   

 

 

 
Maximum exposure of investments
                             

Investee name

  Year
acquired
 

Accounting method

  Ownership at
June 30,
2012
  (in thousands)     Underlying
equity in
net assets
 

Cocrystal

  2009   Equity method   16%   $ 2,500     $ 1,191  

Sorrento

  2009   Equity method   19%     2,300       1,596  

Neovasc

  2011   Equity method, cost (warrants)   4%     2,013       170  

Fabrus

  2010   VIE, equity method   13%     650       93  

Less accumulated losses in investees

            (3,654        
               

 

 

         

Total

                3,809          

BZNE

  2012   VIE, investment, available for sale   N/A     1,700          

ChromaDex

  2012   Investment, available for sale   1%     1,000          

TESARO

  2010   Investment, available for sale   2%     731          

Neovasc options

  2011   Investment, available for sale         818          

Plus unrealized gain on investments, options and warrants, net

        6,768          
               

 

 

         

TOTAL

              $ 14,826