For the full year 2012, adjusted R&D expenses were $1,310 million compared to $1,240 million for the full year 2011. Adjusted R&D expenses included absorption of the Avila Therapeutics acquisition which closed in March 2012, increased activities related to validation of the Phoenix, Arizona manufacturing facility for ABRAXANE and advancing more than 30 late-stage clinical trials.On a GAAP basis, R&D expenses were $473 million for the fourth quarter 2012 and $436 million for the same period in 2011; full year R&D expenses were $1,724 million for 2012 compared to $1,600 million for 2011. The increase in R&D expenses on a GAAP basis reflects the impact of an IPR&D impairment charge recorded during the fourth quarter 2012.
Celgene Reports Strong Fourth Quarter And Full Year 2012 Operating And Financial Results
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