Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary amounts recognized for assets acquired and liabilities assumed as of the acquisition date:


Estimated Fair Value at July 18, 2019
Cash and cash equivalents	$	26.4
Inventories	10.4
Acquired in-process research and development	36.3
Marketed products⁽¹⁾	37.1
Other intangible assets⁽¹⁾	13.5
Other assets and liabilities - net	25.4
Total identifiable net assets	149.1
Goodwill⁽²⁾	4.2
Settlement of existing contingent consideration liabilities	84.7
Total consideration transferred	$	238.0

(1) These intangible assets, which are being amortized on a straight-line basis over their estimated useful lives, are expected to have a weighted average useful life of approximately 12.5 years.

(2) The goodwill recognized from this acquisition is attributable primarily to expected synergies from combining the operations of Aratana with our legacy business. The majority of goodwill associated with this acquisition is not deductible for tax purposes.

Prevtec

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary amounts recognized for assets acquired and liabilities assumed as of the acquisition date:


Estimated Fair Value at July 31, 2019
Cash and cash equivalents	$	0.9
Property and equipment	0.5
Acquired in-process research and development	2.8
Marketed products⁽¹⁾	59.1
Other intangible assets	1.1
Other assets and liabilities - net	(9.8)
Total identifiable net assets	54.6

Goodwill⁽²⁾	10.4
Total consideration transferred	$	65.0

(1) These intangible assets, which are being amortized on a straight-line basis over their estimated useful lives, are expected to have a weighted average useful life of 10 years.

(2) The goodwill recognized from this acquisition is attributable primarily to expected synergies from combining the operations of Prevtec with our legacy business and future unidentified projects and products. The goodwill associated with this acquisition is not deductible for tax purposes.