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This excerpt taken from the ELN 20-F filed Mar 30, 2006. Net
Investment Gains
Net investment gains were $114.6 million in 2004, compared
to $103.4 million in 2003, an increase of 11%. In 2004, we
raised $255.5 million (2003: $238.2 million) in net
cash proceeds from the disposal of investments and marketable
investment securities. The net investment gains of
$114.6 million in 2004 included gains on the sale of
securities of Warner Chilcott plc of $43.6 million, Atrix
Laboratories of $13.1 million, Curis, Inc. of
$15.3 million and DOV Pharmaceutical, Inc. of
$22.6 million. The gains in 2003 of $103.4 million
included a gain on the sale of
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securities of Ligand of $72.2 million and a gain from the
movement in fair value of derivative instruments of
$26.1 million.
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