5. Intangible Assets
(in thousands of $) |
|
Acquired |
|
Software & databases |
|
Other Intangibles |
|
Total |
Cost |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
On January 1, 2020 |
|
44,802 |
|
473 |
|
– |
|
45,275 |
Additions |
|
16,182 |
|
2,814 |
|
98,000 |
|
116,996 |
Translation differences |
|
4,196 |
|
256 |
|
1,058 |
|
5,510 |
On December 31, 2020 |
|
65,180 |
|
3,543 |
|
99,058 |
|
167,781 |
Additions |
|
5,000 |
|
– |
|
– |
|
5,000 |
Disposals |
|
– |
|
(190) |
|
– |
|
(190) |
On December 31, 2021 |
|
70,180 |
|
3,353 |
|
99,058 |
|
172,591 |
Additions |
|
992 |
|
– |
|
102,000 |
|
102,992 |
Disposals |
|
– |
|
(5) |
|
– |
|
(5) |
Derecognition |
|
– |
|
– |
|
(99,058) |
|
(99,058) |
On December 31, 2022 |
|
71,171 |
|
3,348 |
|
102,000 |
|
176,519 |
|
|
|
|
|
|
|
|
|
Amortization and impairment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
On January 1, 2020 |
|
– |
|
(158) |
|
– |
|
(158) |
Amortization |
|
– |
|
(246) |
|
– |
|
(246) |
Translation differences |
|
– |
|
(33) |
|
– |
|
(33) |
On December 31, 2020 |
|
– |
|
(437) |
|
– |
|
(437) |
Amortization |
|
|
|
(470) |
|
– |
|
(470) |
On December 31, 2021 |
|
– |
|
(907) |
|
– |
|
(907) |
Amortization |
|
– |
|
(711) |
|
(99,058) |
|
(99,768) |
Derecognition |
|
– |
|
– |
|
99,058 |
|
99,058 |
On December 31, 2022 |
|
– |
|
(1,618) |
|
– |
|
(1,618) |
|
|
|
|
|
|
|
|
|
Carrying Amount |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
On December 31, 2020 |
|
65,180 |
|
3,106 |
|
99,058 |
|
167,344 |
On December 31, 2021 |
|
70,180 |
|
2,446 |
|
99,058 |
|
171,684 |
On December 31, 2022 |
|
71,171 |
|
1,730 |
|
102,000 |
|
174,901 |
The Company performed an annual impairment review on the intangible assets not yet available for use. This review did not result in the recognition of an impairment charge.
During the third quarter of 2022, the Company utilized the PRV submitted with the BLA filing for SC efgartigimod for the treatment of gMG, which resulted in amortization of $99.1 million of research and development expenses within the consolidated statements of profit or loss and subsequent derecognition of $99.1 million of intangibles included in other intangibles on the consolidated statements of financial position.
In December 2022, we acquired a PRV for $102 million.
As of December 31, 2022, there are no material commitments to acquire additional intangible assets, except as set forth in note 29. No intangible assets are pledged as security for liabilities nor are there any intangible assets whose title is restricted.