Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in goodwill for the six months ended June 30, 2020 and for the year ended December 31, 2019 were as follows (in thousands):


	June 30, 2020		December 31, 2019
Balance, beginning of period	$	419,504	$	426,226
Impax acquisition adjustment	—		(1,255)
Goodwill acquired during the period	108,790		—
Goodwill divested during the period	—		(5,175)
Currency translation	(819)		(292)
Balance, end of period	$	527,475	$	419,504

Schedule of Finite-Lived Intangible Assets

Intangible assets at June 30, 2020 and December 31, 2019 are comprised of the following (in thousands):


	June 30, 2020													December 31, 2019
	Weighted-Average Amortization Period (in years)	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Amortizing intangible assets:
Product rights	9.5	$	1,189,785	$	(265,284)	$	924,501	$	1,197,535	$	(198,857)	$	998,678
Other intangible assets	6.0	133,800		(15,590)		118,210		3,000		(1,000)		2,000
Subtotal		$	1,323,585	$	(280,874)	$	1,042,711	$	1,200,535	$	(199,857)	$	1,000,678
In-process research and development		381,115		—		381,115		382,075		—		382,075
Total intangible assets		$	1,704,700	$	(280,874)	$	1,423,826	$	1,582,610	$	(199,857)	$	1,382,753

Finite-lived Intangible Assets Amortization Expense

Amortization expense related to intangible assets recognized is as follows (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Amortization	$	43,976	$	34,796	$	86,552	$	65,759

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents future amortization expense for the next five years and thereafter, excluding $381 million of IPR&D intangible assets (in thousands):


	Future Amortization
Remainder of 2020	$	88,633
2021	172,302
2022	157,964
2023	146,979
2024	140,021
Thereafter	336,812
Total	$	1,042,711