Intangible Assets and Goodwill (Tables)

6 Months Ended

Jun. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets by Major Class

The following table sets forth the carrying amounts and accumulated amortization of the Company’s intangible assets:

	As of June 30, 2017								As of December 31, 2016
	Weighted Average Useful Life (years)	Gross Carrying Amount		Accumulated Amortization and Other Charges			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Other Charges			Net Carrying Amount
		(in thousands)
Amortizable intangible assets:
Product licenses(1)	-	$	—	$	—		$	—	$	30,000	$	(3,013	)	$	26,987
Developed product rights(2)	15.3	120,560		(20,109		)	100,451		370,560		(35,946		)	334,614
Total amortizable intangible assets	15.3	120,560		(20,109		)	100,451		400,560		(38,959		)	361,601
Intangible assets not subject to amortization:
In-process research and development	—	$	188,620	$	—		$	188,620	$	253,620	$	—		$	253,620
Total intangible assets not subject to amortization	—	188,620		—			188,620		253,620		—			253,620
Total intangible assets		$	309,180	$	(20,109	)	$	289,071	$	654,180	$	(38,959	)	$	615,221

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(1) The Company amortizes intangible assets related to the product licenses over their expected useful lives.

(2) The Company amortizes intangible assets related to developed product rights over the remaining life of the patents.

Schedule of Indefinite-lived Intangible Assets by Major Class

The following table sets forth the carrying amounts and accumulated amortization of the Company’s intangible assets:

	As of June 30, 2017								As of December 31, 2016
	Weighted Average Useful Life (years)	Gross Carrying Amount		Accumulated Amortization and Other Charges			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization and Other Charges			Net Carrying Amount
		(in thousands)
Amortizable intangible assets:
Product licenses(1)	-	$	—	$	—		$	—	$	30,000	$	(3,013	)	$	26,987
Developed product rights(2)	15.3	120,560		(20,109		)	100,451		370,560		(35,946		)	334,614
Total amortizable intangible assets	15.3	120,560		(20,109		)	100,451		400,560		(38,959		)	361,601
Intangible assets not subject to amortization:
In-process research and development	—	$	188,620	$	—		$	188,620	$	253,620	$	—		$	253,620
Total intangible assets not subject to amortization	—	188,620		—			188,620		253,620		—			253,620
Total intangible assets		$	309,180	$	(20,109	)	$	289,071	$	654,180	$	(38,959	)	$	615,221

_______________________________________

(1) The Company amortizes intangible assets related to the product licenses over their expected useful lives.

(2) The Company amortizes intangible assets related to developed product rights over the remaining life of the patents.