Intangible Assets

In April 2007, the Company entered into an asset purchase agreement with Parivid, LLC, or Parivid, a provider of data integration and analysis services, and S. Raguram, the principal owner of Parivid. Pursuant to the asset purchase agreement, the Company acquired certain of the assets and assumed certain of the liabilities of Parivid related to the acquired assets in exchange for $2.5 million in cash paid at closing and certain contingent milestone payments in a combination of cash and/or stock in the manner and on the terms and conditions set forth in the asset purchase agreement if certain milestones were achieved within fifteen years of the date of the asset purchase agreement. The asset purchase agreement was amended in August 2009 and in July 2011. Between 2009 and 2011, the Company made cash payments to Parivid of $7.3 million and issued 91,576 shares of its common stock valued at $10.92 per share to Parivid in satisfaction of certain Enoxaparin Sodium Injection-related milestones under the amended asset purchase agreement. As of June 18, 2016, the one-year anniversary of the commercial launch of GLATOPA, GLATOPA remained the sole generic COPAXONE 20 mg/mL product on the U.S. market, triggering the final milestone payment under the amended asset purchase agreement. In connection with the final milestone, in June 2016, the Company recorded an intangible asset and a non-current liability of $2.9 million. On August 10, 2016, the Company issued 265,605 shares of its common stock to Parivid to satisfy the GLATOPA-related milestone. The Company recorded $3.2 million as an intangible asset based on the number of shares issued and the closing price of the Company’s common stock on the date the shares were issued to Parivid.

Intangible assets consist solely of the core developed technology assets acquired from Parivid. The intangible assets are being amortized using the straight-line method over the estimated useful life of GLATOPA of approximately six years through June 2021. As of September 30, 2016 and December 31, 2015, intangible assets, net of accumulated amortization, were as follows (in thousands):



	September 30, 2016							December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value		Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Total intangible assets for core and developed technology and non-compete agreement	$	13,617	$	(8,139	)	$	5,478	$	10,427	$	(6,899	)	$	3,528

The weighted-average amortization period for the Company’s intangible assets is six years. Amortization expense was approximately $0.3 million for each of the three months ended September 30, 2016 and 2015. Amortization expense was approximately $1.2 million and $0.8 million for the nine months ended September 30, 2016 and 2015, respectively.

The Company expects to incur amortization expense of approximately $1.2 million per year for each of the next four years and approximately $0.9 million in the fifth year.