Intangible Assets

3 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible AssetsIntangible assets consist of patent defense costs, which are deferred legal fees incurred in conjunction with defending patents for Oxtellar XR and Trokendi XR. The Company amortizes these 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 (dollars in thousands):

	Weighted- Average Life (Years)	March 31, 2020		December 31, 2019
	(unaudited)
Capitalized patent defense costs	2.76 - 7.01 years	$	43,375	$	43,375
Less accumulated amortization		(19,796)		(18,535)
Total		$	23,579	$	24,840

U.S. patents covering Oxtellar XR and Trokendi XR will expire no earlier than 2027. As regards Trokendi XR, the Company entered into settlement agreements that allow third parties to enter the market by January 1, 2023, or earlier under certain circumstances. Amortization expense on intangible assets was approximately $1.3 million for both three month periods ended March 31, 2020 and 2019, respectively.

As of March 31, 2020, there were no identified indicators of impairment.