Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair value measurements [Abstract]

Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table represents the Company's fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis:

	At December 31, 2012
(in thousands)		Level 1		Level 2		Level 3		Total
Assets:
Investment in money market funds (1)		$	42,720	$	-	$	-	$	42,720
Total assets		$	42,720	$	-	$	-	$	42,720
	At December 31, 2011
(in thousands)		Level 1		Level 2		Level 3		Total
Assets:
Investment in money market funds (1)		$	73,005	$	-	$	-	$	73,005
U.S. Treasury securities (2)			-		1,966		-		1,966
Total assets		$	73,005	$	1,966	$	-	$	74,971
Liabilities:
Contingent value rights		$	-	$	-	$	4,753	$	4,753
Total liabilities		$	-	$	-	$	4,753	$	4,753

(1) Included in cash and cash equivalents in accompanying consolidated balance sheets.

(2) Included in investments in accompanying consolidated balance sheets.

Reconciliation of Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

The following table is a reconciliation of the beginning and ending balance of the liabilities measured at fair value using significant unobservable inputs (Level 3) during the year ended December 31, 2012 and 2011.

(in thousands)
Balance at January 1, 2011	$	14,532
Expense (income) included in earnings		221
Settlements		(10,000	)
Purchases, sales and issuances		-
Transfers in/(out) of Level 3		-
Balance at December 31, 2011		4,753
Expense (income) included in earnings		(3,005	)
Settlements		(1,748	)
Purchases, sales and issuances		-
Transfers in/(out) of Level 3		-
Balance at December 31, 2012	$	-