In connection with the acquisition of Civitas in October 2014, the Company acquired global rights to Inbrija, a Phase 3 treatment candidate for Parkinson’s disease OFF periods, also known as OFF episodes. The acquisition of Civitas also included rights to Civitas’ proprietary ARCUS drug delivery technology, which the Company believes has potential to be used in the development of a variety of inhaled medicines. In December 2018, the FDA approved Inbrija for intermittent treatment of OFF episodes in people with Parkinson’s disease treated with carbidopa/levodopa.

In accordance with the acquisition method of accounting, the Company allocated the acquisition cost for the transaction to the underlying assets acquired and liabilities assumed by the Company, based upon the estimated fair values of those assets and liabilities at the date of acquisition and classified the fair value of the acquired IPR&D as an indefinite-lived intangible asset until the successful completion of the associated research and development efforts. The value allocated to the indefinite lived intangible asset was $423 million. In December 2018, the Company received FDA approval for Inbrija and accordingly reclassified the indefinite lived intangible asset to a definite lived intangible asset with amortization commencing upon launch in February 2019.

Intangible assets also include certain website development costs which have been capitalized. The Company has developed several websites, each with its own purpose, including the general corporate website, product information websites and various other websites.

The Company continually evaluates whether events or circumstances have occurred that indicate that the carrying value of the intangible assets may be impaired or that the estimated remaining useful lives of these assets may warrant revision. As of December 31, 2022, the Company determined that the intangible assets were not impaired and that there are no facts or circumstances that would indicate a need for changing the estimated remaining useful lives of these assets.

Intangible assets consisted of the following:


			December 31, 2022										December 31, 2021
(Dollars In thousands)	Estimated Remaining Useful Lives (Years)		Cost		Disposals			Accumulated Amortization			Net Carrying Amount		Cost		Additions		Accumulated Amortization			Net Carrying Amount
Inbrija (1)		11		423,000		—			(117,927	)		305,073		423,000		—		(87,164	)		335,836
Website development costs	1-3			14,585		(3,683	)		(10,888	)		14		14,559		26		(14,441	)		144
			$	437,585	$	(3,683	)	$	(128,815	)	$	305,087	$	437,559	$	26	$	(101,605	)	$	335,980

(1)

In December 2018, the Company received FDA approval for Inbrija and accordingly reclassified the indefinite lived intangible assets to definite lived intangible assets and began amortizing the assets upon launch in February 2019.

The Company recorded amortization expenses of $30.9 million of which $30.8 million pertained to the intangible asset related to Inbrija and $0.1 million related to the amortization of website development costs for the year ended December 31, 2022. The Company recorded amortization expense of $31.0 million of which $30.7 million pertained to the intangible asset related to Inbrija and $0.3 million related to the amortization of website development costs related to these intangible assets for the year ended December 31, 2021.

Estimated future amortization expense for intangible assets subsequent to December 31, 2021 is as follows:


(In thousands)
2023	$	30,772
2024		30,768
2025		30,764
2026		30,764
2027		30,764
Thereafter		151,255
	$	305,087

The weighted-average remaining useful lives of all amortizable assets is approximately 11.0 years.