XML 107 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Gain on Sale of Rights
12 Months Ended
Dec. 31, 2014
Gain on Sale of Rights [Abstract]  
Gain on Sale of Rights
Gain on Sale of Rights
During the third quarter of 2012, we sold all of our rights, including rights to royalties, related to BENLYSTA (belimumab) to a DRI Capital managed fund (DRI). Under the terms of the BENLYSTA sale agreement, we received payments from DRI equal to a multiple of royalties payable by the Human Genome Sciences, Inc. and GlaxoSmithKline plc for the period covering October 2011 to September 2014 and a one-time contingency payment that could be paid to us if the cumulative royalties over the full royalty term exceed an agreed amount.
The payments received during 2014, 2013 and 2012 totaled $16.8 million, $24.9 million and $46.8 million, respectively. These payments were recorded as a gain on sale of rights within our consolidated statements of income.
The period under which we would receive royalties expired in September 2014. Therefore, we will not receive any additional payments under this agreement.