Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2016

Property, Plant and Equipment [Abstract]

7. Property, Plant and Equipment, net

Property, plant and equipment consisted of the following:


(in thousands)	June 30, 2016			December 31, 2015
Land	$	14,950		$	14,950
Buildings		69,577			68,941
Machinery, equipment and fixtures		65,982			60,787
Construction in progress		4,882			9,099
Accumulated depreciation		(70,969	)		(67,260	)

Property, plant and equipment, net	$	84,422		$	86,517

For the three and six month period ended June 30, 2016, depreciation expense related to property, plant and equipment was $2.2 million and $4.1 million, respectively, as compared to $2.0 million and $7.7 million for the prior year comparative periods.

Fixed assets dedicated to research and development, or R&D, activities, which were impacted by the March 2013 R&D strategic shift, have a carrying value of $3.9 million as of June 30, 2016. The Company believes these fixed assets will be utilized for either internally funded ongoing R&D activities or R&D activities funded by a strategic partner. If the Company is not successful in finding a strategic partner and there are no alternative uses for these fixed assets, then they could be subject to impairment in the future.