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INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of amortizable intangible assets
Amortizable intangible assets as of December 31, 2015 (in thousands):
 
 
As of December 31, 2015
 
Useful Life
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Book Value
Chenodal Product Rights
16
$
67,849

 
$
(7,489
)
 
$
60,360

Thiola License
10
24,133

 
(2,793
)
 
21,340

Economic Interest - U.S. revenue Cholbam
10
75,900

 
(5,715
)
 
70,185

Economic Interest - Int'l revenue Cholbam
10
7,336

 
(552
)
 
6,784

Ligand License
11
3,300

 
(765
)
 
2,535

Manchester Customer Relationships
10
403

 
(71
)
 
332

Manchester Trade Name
1
175

 
(175
)
 
—

Total
 
$
179,096

 
$
(17,560
)
 
$
161,536


Amortizable intangible assets as of December 31, 2014 (in thousands):
 
 
As of December 31, 2014
 
Useful Life
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Book Value
Chenodal and Vecamyl Product Rights
16
$
71,372

 
$
(3,420
)
 
$
67,952

Thiola License
10
15,049

 
(870
)
 
14,179

Syntocinon License
20
5,000

 
(190
)
 
4,810

Carbetocin Assets
10
5,568

 
(430
)
 
5,138

Ligand License
11
2,300

 
(527
)
 
1,773

Manchester Customer Relationships
10
403

 
(31
)
 
372

Manchester Trade Name
1
175

 
(134
)
 
41

Total
 
$
99,867

 
$
(5,602
)
 
$
94,265
Schedule of amortization expense for the next 5 years
The following table summarizes amortization expense for the twelve months ended December 31, 2015, 2014 and 2013 (in thousands):
 
Twelve months ended December 31,
 
2015
 
2014
 
2013
Research and development
$
697

 
$
823

 
$
324

Selling, general and administrative
12,534

 
4,455

 
—

Total amortization expense
$
13,231

 
$
5,278

 
$
324

As of December 31, 2015, amortization expense for the next five years is expected to be as follows (in thousands):
2016
$
15,517

2017
15,474

2018
15,474

2019
15,474

2020
15,476

Thereafter
84,121

Total
$
161,536