Intangible Assets

6 Months Ended

Jun. 30, 2018

Disclosure Text Block

Intangible Assets

10. Intangible Assets

Intangible assets outstanding as of June 30, 2018 and December 31, 2017 are summarized as follows:

	As of
	June 30, 2018			December 31, 2017
	Gross			Gross
	carrying	Accumulated	Intangible	carrying	Accumulated	Intangible
	amount	amortization	assets, net	amount	amortization	assets, net
	$	$	$	$	$	$
Finite-lived intangible assets:
Product distribution rights	7,500	(625)	6,875	7,500	(250)	7,250
Total finite-lived intangible assets	7,500	(625)	6,875	7,500	(250)	7,250

Product distribution rights consist of distribution rights in China for the approved cancer therapies licensed from Celgene, ABRAXANE®, REVLIMID®, and VIDAZA®, and its investigational agent CC-122 acquired as part of the Celgene transaction. The Company is amortizing the product distribution rights over a period of 10 years.

Amortization expense for the three and six months ended June 30, 2018 was $187 and $375, respectively. Amortization expense for the three and six months ended June 30, 2017 was nil and nil, respectively.

As of June 30, 2018, expected amortization expense for the unamortized finite-lived intangible assets is approximately $375 for the remainder of 2018, $750 in 2019, $750 in 2020, $750 in 2021, $750 in 2022, and $3,500 in 2023 and thereafter.