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Goodwill and Intangible Assets, Net
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
The following table sets forth the gross carrying amounts and related accumulated amortization of intangible assets and goodwill as of December 31, 2021 (dollars in thousands):
December 31, 2021December 31, 2020
DescriptionRemaining Weighted-
Average Amortization Period
(Years)
Carrying Amount, GrossAccumulated AmortizationCarrying Amount, NetCarrying Amount, GrossAccumulated AmortizationCarrying Amount, Net
Goodwill$117,516 $— $117,516 $77,911 $— $77,911 
Acquired in-process research and development124,000 — 124,000 123,000 — 123,000 
Intangible assets subject to amortization:
Acquired developed technology and product rights8.73681,100 (35,550)645,550 232,000 (10,651)221,349 
Capitalized patent defense costs4.4843,820 (28,677)15,143 43,579 (23,586)19,993 
Total intangible assets8.63$848,920 $(64,227)$784,693 $398,579 $(34,237)$364,342 

Goodwill
The majority of the increase in goodwill was a result of the Adamas Acquisition. Refer to Note 3, Acquisitions.
The remaining increase represents measurement period adjustments recorded in the second quarter of 2021, which related to the finalization of the business combination accounting of the USWM Acquisition. Refer to Note 3, Acquisitions.
As of December 31, 2021, there were no identified indicators of impairment.
Intangible assets, net
Intangible assets include: patent defense costs, which are deferred legal fees incurred in conjunction with defending patents; acquired developed technology and product rights, and acquired IPR&D assets associated with the Company's acquisitions. The Company amortizes intangible assets over their useful lives, except for the acquired IPR&D asset.
The acquired IPR&D asset pertains to SPN-830 (apomorphine infusion device) which was acquired as part of the USWM acquisition in 2020. Refer to Note 3 for further discussion of the acquired IPR&D asset. As discussed in Note 1, in February 2022, the Company received notice from the FDA on the acceptance for review of the NDA for SPN-830 and assigned a PDUFA target action date of October 7, 2022.
U.S. patents covering Oxtellar XR and Trokendi XR will expire no earlier than 2027. In regards to 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.
As a result of the USWM and Adamas acquisitions, the Company acquired developed technology and product rights for APOKYN, XADAGO, MYOBLOC, GOCOVRI, Osmolex ER and Namzaric.
Amortization expense for intangible assets was approximately $30.0 million, $15.7 million, and $5.2 million for the years ended December 31, 2021, 2020, and 2019, respectively.
Anticipated annual amortization expense for intangible assets in 2022 is estimated at $82.6 million. Anticipated annual amortization expense for intangible assets from 2023 to 2024 is estimated at $79.8 million per year. Anticipated annual amortization expense for intangible assets in 2025 to 2026 is estimated at $75.0 million per year.In February 2022, the FDA approved the first generic of Apokyn (apomorphine hydrochloride injection) to treat hypomobility "off" episodes ("end-of-dose wearing off" and unpredictable "on/off" episodes) associated with advanced Parkinson's disease. Refer to Note 17, Subsequent Events.