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This excerpt taken from the ELN 20-F filed Mar 30, 2006. (D) Asset
impairments and write-off
As part of our completed recovery plan, we had identified a
range of businesses and products that we intended to sell in the
near term. In many cases, we had received indicative offers for
these assets and wrote-down the assets to their fair value. In
other cases, the impairment arose because of changes to the
forecasted profitability of these assets. The impairments of
$32.6 million in 2003 related principally to our European
sales and marketing business (sold to Zeneus Pharma Ltd.
(Zeneus) in February 2004), a manufacturing and R&D business
based in Switzerland (sold in February 2004), and to certain
R&D technology platforms that we ceased using.
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