Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets

Schedule of weighted-average life, original cost, accumulated amortization and net book value by major class

	Weighted-Average			Accumulated
	Life (Years)	Original Cost		Amortization		Net Book Value
	(in thousands)
Definite-lived intangible assets
Cortrosyn® product rights	12	$	27,134	$	24,906	$	2,228
IMS (UK) international product rights(1)	10		8,738		583		8,155
Patents	10		293		144		149
Land-use rights	39		2,540		370		2,170
Other intangible assets	4		69		34		35
Subtotal	12		38,774		26,037		12,737
Indefinite-lived intangible assets
Trademark	*		29,225		—		29,225
Goodwill - Finished pharmaceutical products	*		4,031		—		4,031
Subtotal	*		33,256		—		33,256
As of March 31, 2017	*	$	72,030	$	26,037	$	45,993

	Weighted-Average			Accumulated
	Life (Years)	Original Cost		Amortization		Net Book Value
	(in thousands)
Definite-lived intangible assets
Cortrosyn® product rights	12	$	27,134	$	24,461	$	2,673
IMS (UK) international product rights(1)	10		8,632		359		8,273
Acquired ANDAs(2)	15		4,000		222		3,778
Patents	10		293		137		156
Land-use rights	39		2,540		354		2,186
Other intangible assets	1		574		534		40
Subtotal	12		43,173		26,067		17,106
Indefinite-lived intangible assets
Trademark	*		29,225		—		29,225
Goodwill - Finished pharmaceutical products	*		3,976		—		3,976
Subtotal	*		33,201		—		33,201
As of December 31, 2016	*	$	76,374	$	26,067	$	50,307

*Intangible assets with indefinite lives have an indeterminable average life.

(1)In August 2016, the Company acquired International Medication Systems (UK) Limited from UCB PHARMA GmbH for $7.7 million. The fair value of the marketing authorization was $9.2 million as of the acquisition date (see Note 3).

(2) In February 2017, the Company sold the 14 ANDAs it had acquired from Hikma to an unrelated party purchaser for $6.4 million.

Schedule of changes in carrying amounts of goodwill

	March 31,		December 31,
	2017		2016
	(in thousands)
Beginning balance	$	3,976	$	3,726
Goodwill related to acquisition of business		—		391
Currency translation and other adjustments		55		(141)
Ending balance	$	4,031	$	3,976