INTANGIBLE ASSETS AND GOODWILL

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

The following table reflects the gross carrying amounts and net book values of intangible assets and goodwill as of June 30, 2020 and December 31, 2019 (dollar amounts in thousands):


	June 30, 2020													December 31, 2019
	Remaining Useful Life (In years)	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Impairment		Net Book Value
Products rights:
INDOCIN	5.9	$	107,500	$	(1,941)	$	105,559	$	—	$	—	$	—	$	—
SPRIX	5.9	52,500		(948)		51,552		—		—		—		—
CAMBIA	3.5	51,360		(33,595)		17,765		51,360		(31,027)		—		20,333
Zipsor	1.7	27,250		(23,213)		4,037		27,250		(22,044)		—		5,206
Other⁽¹⁾	Less than 1 year	900		(97)		803		—		—		—		—
NUCYNTA	—	—		—		—		1,019,978		(455,192)		(189,790)		374,996
Total Intangible Assets		$	239,510	$	(59,794)	$	179,716	$	1,098,588	$	(508,263)	$	(189,790)	$	400,535

Goodwill		$	14,147	$	—	$	14,147	$	—	$	—	$	—	$	—

(1) Represents product rights for Oxaydo and Solumatrix products.

Amortization expense was $4.9 million and $12.7 million for the three and six months ended June 30, 2020, respectively, and $25.4 million and $50.9 million for the three and six months ended June 30, 2019, respectively.

In connection with the Zyla Merger, the Company acquired identified intangible assets comprised of definite-lived product rights for INDOCIN, SPRIX Nasal Spray, and other (include product rights for OXAYDO and SOLUMATRIX products) which are amortized on a straight-line basis over their respective estimated useful lives of 5.9 years, 5.9 years and less than one year.

The respective fair values were determined to be $107.5 million, $52.5 million, and $0.9 million, as of the Zyla Merger date of May 20, 2020 (see Note 2, Acquisitions).

In addition, the Company recognized $14.1 million of goodwill related to the fair value of the underlying net tangible and identifiable intangible assets net of liabilities resulting from the Zyla Merger. Refer to “Note 2. Acquisitions” for additional details.

In February 2020, the Company divested its remaining rights, title and interest in and to the NUCYNTAfranchise of products from the Company. The Company derecognized the remaining carrying value of $369.1 million of the NUCYNTA product rights in the first quarter of 2020.

The following table reflects future amortization expenses the Company expects for its intangible assets (in thousands):


Year Ending December 31,	Estimated Amortization Expense
2020 (remainder)	$	17,520
2021	34,492
2022	32,335
2023	31,591
2024	26,667
Thereafter	37,111
Total	$	179,716