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OTHER (INCOME) EXPENSE, NET | 9 Months Ended
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Sep. 30, 2021
Other Income and Expenses [Abstract] |
OTHER (INCOME) EXPENSE, NET | OTHER (INCOME) EXPENSE, NET Other (income) expense, net consists of:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Litigation and other matters |  | $ | (212) |  |  | $ | 4 |  |  | $ | 320 |  |  | $ | 127 |
Acquisition-related contingent consideration |  | 8 |  |  | 2 |  |  | 8 |  |  | 26 |
Loss (gain) on sale of assets, net |  | 21 |  |  | — |  |  | (2) |  |  | (1) |
Acquired in-process research and development costs |  | — |  |  | 12 |  |  | 3 |  |  | 20 |
|  | $ | (183) |  |  | $ | 18 |  |  | $ | 329 |  |  | $ | 172 |
Litigation and other matters for the nine months ended September 30, 2021, includes adjustments related to the Glumetza Antitrust Litigation, partially offset by insurance recoveries of $213 million related to certain litigation matters. See Note 18, "LEGAL PROCEEDINGS" for further details regarding these and other litigation matters. Litigation and other matters for the nine months ended September 30, 2020, includes adjustments related to the investigation of the Company by the SEC respecting the Company’s former relationship with Philidor Rx Services, LLC ("Philidor"), its accounting practices and policies, its public disclosures and other matters (which investigation has now been settled) (the “SEC Investigation”) and the U.S. Securities Litigation and the Canadian Securities Litigation and related opt-outs of each. Litigation and other matters also includes an insurance recovery related to a certain litigation matter. See Note 18, "LEGAL PROCEEDINGS" for further details regarding certain of these and other litigation matters. Loss (gain) on sale of assets, net for the nine months ended September 30, 2021, includes $25 million related to the achievement of a milestone related to a certain product and a $26 million loss upon completion of the Amoun Sale during the three months ended September 30, 2021. See Note 4, "ACQUISITION, LICENSING AGREEMENTS AND DIVESTITURE" for additional details regarding the Amoun Sale.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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