Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

Intangible assets consist of patent defense costs, which are legal fees incurred in conjunction with defending patents for Oxtellar XR and Trokendi XR. The Company amortizes those costs over the useful life of the respective patents.

The following sets forth the gross carrying amount and related accumulated amortization of the intangible assets, in thousands of dollars:

	Weighted- Average Life	September 30, 2019			December 31, 2018
	(unaudited)
Capitalized patent defense costs	3.26 - 7.51 years	$	43,375		$	44,724
Less accumulated amortization		(17,274		)	(13,356		)
Total		$	26,101		$	31,368

Amortization expense on intangible assets was approximately $1.3 million and $3.9 million for the three and nine months ended September 30, 2019, respectively, essentially unchanged as compared to $1.3 million and $3.9 million for the three and nine months ended September 30, 2018, respectively.

The Company performs its annual impairment assessment of its intangible assets in the fourth quarter, or earlier, if impairment indicators exist. As of September 30, 2019, there were no identified indicators of impairment.