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Notes to Consolidated Financial Statements
Pfizer Inc. and Subsidiary Companies
90
2013 Financial Report
B. Other Intangible Assets
Balance Sheet Information
The following table provides the components of Identifiable intangible assets:
December 31, 2013 December 31, 2012
(MILLIONS OF DOLLARS)
Gross
Carrying
Amount
Accumulated
Amortization
Identifiable
Intangible
Assets, less
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Identifiable
Intangible
Assets, less
Accumulated
Amortization
Finite-lived intangible assets
Developed technology rights $ 72,038 $ (41,541)$ 30,497 $72,349 $ (36,895) $ 35,454
Brands 1,743 (773)970 1,657 (693)964
License agreements and other 896 (805)91
914 (642)272
74,677 (43,119)31,558 74,920 (38,230) 36,690
Indefinite-lived intangible assets
Brands 7,381 —7,381 7,786 —7,786
In-process research and development 443 — 443 669 —669
Other 3—31— 1
7,827 —7,827 8,456 —8,456
Identifiable intangible assets(a) $ 82,504 $ (43,119)$ 39,385 $83,376 $ (38,230) $ 45,146
(a) The decrease is primarily related to amortization, asset impairment charges and the transfer of certain product rights to our equity-method investment in China.
For additional information about the asset impairment charges, see Note 4. Other (income)/deductions—net. For additional information about the transfer of
certain product rights, see Note 2D. Acquisitions, Divestitures, Collaborative Arrangements and Equity-Method Investments: Equity-Method Investments.
As of December 31, 2013, our identifiable intangible assets are associated with the following, as a percentage of total identifiable intangible
assets, less accumulated amortization:
• Developed technology rights: Specialty Care (68%); Established Products (19%); Primary Care (12%); and Oncology (1%);
• Brands, finite-lived: Consumer Healthcare (75%); and Established Products (25%);
• Brands, indefinite-lived: Consumer Healthcare (69%); and Established Products (31%); and
• IPR&D: Worldwide Research and Development (43%); Specialty Care (43%); Established Products (7%); and Primary Care (7%).
There are no percentages for our Emerging Markets business unit as it is a geographic-area unit, not a product-based unit. The carrying value
of the assets associated with our Emerging Markets business unit is included within the assets associated with the other four
biopharmaceutical business units.
For information about intangible asset impairments, see Note 4. Other (Income)/Deductions—Net.
Developed Technology Rights
Developed technology rights represent the amortized cost associated with developed technology, which has been acquired from third parties
and which can include the right to develop, use, market, sell and/or offer for sale the product, compounds and intellectual property that we
have acquired with respect to products, compounds and/or processes that have been completed. We possess a well-diversified portfolio of
hundreds of developed technology rights across therapeutic categories, primarily representing the commercialized products included in our
five biopharmaceutical business units. The more significant components of developed technology rights are the following (in order of
significance): Prevnar 13/Prevenar 13 Infant and Enbrel and, to a lesser extent, Premarin, Prevnar 13/Prevenar 13 Adult, Effexor, Pristiq,
Tygacil, Refacto AF and Benefix. Also included in this category are the post-approval milestone payments made under our alliance
agreements for certain biopharmaceutical products.
Brands
Brands represent the amortized or unamortized cost associated with tradenames and know-how, as the products themselves do not receive
patent protection. Most of these assets are associated with our Consumer Healthcare business unit. The more significant components of
indefinite-lived brands are the following (in order of significance): Advil, Xanax/Xanax XR, Centrum and, to a lesser extent, Caltrate. The more
significant components of finite-lived brands are the following (in order of significance): Depo-Provera, Idoform Bifiform, and Advil Cold and
Sinus.