Fair Value of Consideration Transferred
|
| | |
Cash purchase consideration paid | 30,677 |
|
Purchase consideration payable | 9,691 |
|
Total Consideration | 40,368 |
|
Assets Acquired
The transaction has been accounted for as a business combination under the acquisition method of accounting. The following table summarizes the estimated fair values of the assets acquired as of the acquisition date.
|
| | | | | | |
| Amounts Recognized as of the Acquisition Date | Measurement period adjustments (c) | Amounts Recognized as of Jun 30, 2017 |
Acquired product rights (a) | 37,011 |
| 73 |
| 37,084 |
|
Inventory (b) | 3,357 |
| (73 | ) | 3,284 |
|
Total fair value of consideration transferred | 40,368 |
| — |
| 40,368 |
|
(a) Acquired product rights have expected useful lives of 7 years.
(b) Includes a non cash fair value increase to inventory of $3,080, of which $2,769 has been recorded in cost of sales during the year ended December 31, 2016 and $311 was recorded in cost of sales during the year ended December 31, 2017.
(c) The measurement period adjustments were made to reflect facts and circumstances existing as of the acquisition date, and did not result from intervening events subsequent to the acquisition date. During the measurement period, the Company recorded certain adjustments to the purchase price allocation including an increase to intangible assets of $73 and a decrease to acquired inventory of $73.
