Intangible Assets, Net

6 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

Intangibles Assets, Net

The following table sets forth the gross carrying amounts and related accumulated amortization of intangibles assets (dollars in thousands):

		June 30, 2023						December 31, 2022
		(unaudited)
	Remaining Weighted Average Life (Years)	Carrying Amount, Gross		Accumulated Amortization		Carrying Amount, Net		Carrying Amount, Gross		Accumulated Amortization		Carrying Amount, Net
Acquired in-process research and development		$	124,000	$	—	$	124,000	$	124,000	$	—	$	124,000
Intangible assets subject to amortization:
Acquired developed technology and product rights	7.32	681,500		(151,814)		529,686		681,500		(113,061)		568,439
Capitalized patent defense costs	1.17	43,820		(35,117)		8,703		43,820		(33,796)		10,024
Total intangible assets	7.22	$	849,320	$	(186,931)	$	662,389	$	849,320	$	(146,857)	$	702,463

Amortization expense for intangible assets was approximately $20.1 million and $40.1 million, for the three and six months ended June 30, 2023 and approximately $20.7 million and $41.3 million for the three and six months ended June 30, 2022, respectively.

U.S. patents covering Trokendi XR and Oxtellar XR will expire no earlier than 2027. In regard to Trokendi XR, the Company entered into settlement agreements that allowed third parties to enter the market on January 1, 2023. In regard to Oxtellar XR, the Company entered into settlement and license agreements that allows a third party to enter the market on or after September 1, 2024.