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Inventory

6 Months Ended

Jun. 30, 2014

The components of inventory are summarized as follows:



(In millions)	As of June 30, 2014		As of December 31, 2013
Raw materials	$	124.8	$	115.0
Work in process	447.4		435.4
Finished goods	143.7		108.6
Total inventory	$	715.9	$	659.0

As of June 30, 2014 our inventory includes $45.5 million associated with our PLEGRIDY and Daclizumab High Yield Process programs, which have been capitalized in advance of regulatory approval. As of December 31, 2013, our inventory included $93.7 million associated with our ALPROLIX, ELOCTATE and PLEGRIDY programs, which were capitalized in advance of regulatory approval.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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