Business Combination (Tables)

6 Months Ended

Jun. 30, 2014

Business Combinations [Abstract]

Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the fair values of the assets acquired and liabilities assumed at the date of acquisition:

($ in thousands)	January 2, 2014 (Restated)
Total consideration	$	2,671,212
Tangible assets acquired and liabilities assumed:
Cash and cash equivalents		171,259
Restricted cash		750
Investments		44,867
Account receivables, net		50,634
Inventory		49,498
Current deferred tax assets		146,670
Prepaid expenses and other current assets		7,353
Property and equipment, net		1,064
Other assets acquired		731
Accounts payable		(11,142	)
Accrued expenses		(20,203	)
Reserve for product returns, rebates and chargebacks		(40,892	)
Long-term deferred tax liability		(509,801	)
Other long-term liabilities		(3,762	)
Total tangible assets acquired and liabilities assumed		(112,974	)
Intangible assets acquired:
Currently marketed products (CMPs)		1,489,000
In-process research & development products (IPR&D)		83,000
Contractual agreements		44,000
Total intangible assets acquired		1,616,000
Total tangible and intangible assets acquired and liabilities assumed		1,503,026
Goodwill	$	1,168,186

Unaudited Pro Forma Financial Information

Accordingly, the unaudited pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transaction been effected on the assumed date.

($ in thousands)	Three Month Period Ended June 30, 2013		Six Month Period Ended June 30, 2013
Revenue	$	324,803	$	606,844
Net loss		52,362		13,250
Basic loss per share		0.85		0.22
Diluted loss per share		0.81		0.21

Fair Value Adjustment for Purchase Accounting for Merger

($ in thousands)	Weighted Average Useful Life (years)		Estimated Fair Value As of Acquisition Date		Amortization Expense for the Three Month Period Ended June 30, 2013			Amortization Expense for the Six Month Period Ended June 30, 2013
IPR&D		N/A		83,000		—			—
Product rights on CMPs		15.4		1,489,000		41,656			83,313
Licensing agreements		10.0		44,000		1,100			2,200
Total pro forma amortization expense						42,756			85,513
Less: historical amortization expense						(1,628	)		(3,129	)
Net adjustment						41,128			82,384

Schedule of Notes and Borrowings Under Term Loan Facility

($ in thousands)	Three Month Period Ended June 30, 2013		Six Month Period Ended June 30, 2013
Interest on Term Loan B Facility of $1.2 billion and $750 million of 2021 Notes at an assumed weighted average cash interest rate of approximately 4.92%		24,000		48,000
Amortization of debt issue costs and original issue discount		1,752		4,813
Total adjustment		25,752		52,813