Audited by PwC

Note 34 - Acquisition of activities and companies

 
Final statement of fair value for companies bought in previous years
 Biocon's enzyme business   Philom Bios Inc.
 Final  Preliminary        Final  Preliminary
 statement of  statement of     statement of  statement of   
 fair value   fair value   fair value   fair value 
 on date of  on date of        on date of  on date of
   acquisition  acquisition    Change     acquisition  acquisition    Change  
The assets and liabilities arising from acquisitions are as follows:
Intangible assets 318  318    -    59  59    -
Property, plant and equipment   -    47  37  10 
Inventories 29  29    -    36  24  12 
Receivables and prepayments 40  40    -    (1)
Cash and cash equivalents   -   -   -      -
Liabilities (9) (9)     -    (64) (55)   (9)  
Acquired net assets 387  387    -    92  80  12 
Goodwill on acquisitions 218  218      -    27  39    (12)  
Total purchase price 605  605     119  119 
Less:
Cash and cash equivalents in acquired companies   -   -     -        -  
Cash outflow for acquisitions of companies 605  605  111  111 
 
The preliminary statements of fair value on the acquisition date given in the financial statements for 2007 were finalized in 2008. The corrections have been recognized in the respective items and included in additions where specified.