Intangible Assets

3 Months Ended

Sep. 30, 2020

Intangible Assets

Intangible Assets

Note 9. Intangible Assets

Intangible assets, net as of September 30, 2020 and June 30, 2020 consisted of the following:

	Weighted	Gross Carrying Amount				Accumulated Amortization				Intangible Assets, Net
	Avg. Life	September 30,		June 30,		September 30,		June 30,		September 30,		June 30,
(In thousands)	(Yrs.)	2020		2020		2020		2020		2020		2020
Definite-lived:
KUPI product rights	15		416,154		416,154		(132,263)		(125,327)		283,891		290,827
KUPI trade name	2		2,920		2,920		(2,920)		(2,920)		—		—
KUPI other intangible assets	15		19,000		19,000		(6,145)		(5,828)		12,855		13,172
Silarx product rights	15		20,000		20,000		(3,889)		(3,556)		16,111		16,444
Other product rights	10		53,718		50,718		(6,429)		(5,426)		47,289		45,292
Total definite-lived		$	511,792	$	508,792	$	(151,646)	$	(143,057)	$	360,146	$	365,735
Indefinite-lived:
KUPI in-process research and development	—	$	9,000	$	9,000	$	—	$	—	$	9,000	$	9,000
Total indefinite-lived			9,000		9,000		—		—		9,000		9,000
Total intangible assets, net		$	520,792	$	517,792	$	(151,646)	$	(143,057)	$	369,146	$	374,735

For the three months ended September 30, 2020 and 2019, the Company recorded amortization expense of $8.6 million and $7.0 million, respectively.

Future annual amortization expense consisted of the following as of September 30, 2020:

(In thousands)	Amortization
Fiscal Year Ending June 30,	Expense
2021	$	25,873
2022		36,097
2023		35,795
2024		35,495
2025		35,095
Thereafter		191,791
	$	360,146