Advanced Accounting 12th Edition by Joe Ben Hoyle,Thomas Schaefer , Timothy Doupnik

Exercise 6

On March 7, 2012, Celgene Corporation acquired all of the outstanding stock of Avila Therapeutics, Inc. in exchange for $352.2 million in cash plus contingent consideration. Referring to Celgene's 2012 financial statements answer the following questions regarding the Avila Therapeutics acquisition.
How did Celgene account for the in-process research and development product rights acquired in the combination