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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2021
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note 10. Goodwill and Intangible Assets ​ The table below shows the weighted-average life, original cost, accumulated amortization, and net book value by major intangible asset classification: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted-Average | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ |
​ |  | Life (Years) |  | Original Cost |  | Amortization |  | Net Book Value |
​ | ​ | (in thousands) |
Definite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IMS (UK) international product rights | ​ | 10 | ​ | $ | 9,416 | ​ | $ | 4,865 | ​ | $ | 4,551 | ​
Patents |  | 12 | ​ |  | 486 | ​ | ​ | 329 | ​ |  | 157 | ​
Land-use rights |  | 39 | ​ |  | 2,540 | ​ | ​ | 667 | ​ |  | 1,873 | ​
Subtotal |  | 12 | ​ |  | 12,442 | ​ |  | 5,861 | ​ |  | 6,581 | ​
Indefinite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trademark |  | * | ​ |  | 29,225 | ​ |  | — | ​ |  | 29,225 | ​
Goodwill - Finished pharmaceutical products |  | * | ​ |  | 3,386 | ​ |  | — | ​ |  | 3,386 | ​
Subtotal |  | * | ​ |  | 32,611 | ​ |  | — | ​ |  | 32,611 | ​
As of September 30, 2021 |  | * | ​ | $ | 45,053 | ​ | $ | 5,861 | ​ | $ | 39,192 | ​
​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted-Average | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ |
​ |  | Life (Years) |  | Original Cost |  | Amortization |  | Net Book Value |
​ | ​ | (in thousands) |
Definite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IMS (UK) international product rights | ​ | 10 | ​ | $ | 9,561 | ​ | $ | 4,223 | ​ | $ | 5,338 | ​
Patents |  | 12 | ​ |  | 486 | ​ | ​ | 297 | ​ |  | 189 | ​
Land-use rights |  | 39 | ​ |  | 2,540 | ​ | ​ | 617 | ​ |  | 1,923 | ​
Subtotal |  | 12 | ​ |  | 12,587 | ​ |  | 5,137 | ​ |  | 7,450 | ​
Indefinite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trademark |  | * | ​ |  | 29,225 | ​ |  | — | ​ |  | 29,225 | ​
Goodwill - Finished pharmaceutical products |  | * | ​ |  | 3,940 | ​ |  | — | ​ |  | 3,940 | ​
Subtotal |  | * | ​ |  | 33,165 | ​ |  | — | ​ |  | 33,165 | ​
As of December 31, 2020 |  | * | ​ | $ | 45,752 | ​ | $ | 5,137 | ​ | $ | 40,615 | ​
* | Intangible assets with indefinite lives have an indeterminable average life.
Goodwill ​ The changes in the carrying amounts of goodwill were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, |
​ | ​ | 2021 | ​ | 2020 |
​ | ​ | (in thousands) |
Beginning balance |  | $ | 3,940 |  | $ | 3,634 | ​
ANP restructuring | ​ | ​ | (374) | ​ | ​ | — | ​
Currency translation | ​ |  | (180) | ​ |  | 306 | ​
Ending balance | ​ | $ | 3,386 | ​ | $ | 3,940 | ​
​ Primatene® Trademark ​ In January 2009, the Company acquired the exclusive rights to the trademark, domain name, website and domestic marketing, distribution and selling rights related to Primatene Mist®, an over-the-counter bronchodilator product, recorded at the allocated fair value of $29.2 million, which is its carrying value as of September 30, 2021. ​ The trademark was determined to have an indefinite life. In determining its indefinite life, the Company considered the following: the expected use of the intangible; the longevity of the brand; the legal, regulatory and contractual provisions that affect their maximum useful life; the Company’s ability to renew or extend the asset’s legal or contractual life without substantial costs; effects of the regulatory environment; expected changes in distribution channels; maintenance expenditures required to obtain the expected future cash flows from the asset; and considerations for obsolescence, demand, competition and other economic factors.

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