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Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets |
Goodwill and Intangible Assets | Note 9. 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 | ​ | $ | 8,655 | ​ | $ | 5,770 | ​ | $ | 2,885 | ​
Patents |  | 12 | ​ |  | 486 | ​ | ​ | 366 | ​ |  | 120 | ​
Land-use rights |  | 39 | ​ |  | 2,540 | ​ | ​ | 766 | ​ |  | 1,774 | ​
Subtotal |  | 11 | ​ |  | 11,681 | ​ |  | 6,902 | ​ |  | 4,779 | ​
Indefinite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trademark |  | * | ​ |  | 29,225 | ​ |  | — | ​ |  | 29,225 | ​
Goodwill - Finished pharmaceutical products |  | * | ​ |  | 3,175 | ​ |  | — | ​ |  | 3,175 | ​
Subtotal |  | * | ​ |  | 32,400 | ​ |  | — | ​ |  | 32,400 | ​
As of March 31, 2023 |  | * | ​ | $ | 44,081 | ​ | $ | 6,902 | ​ | $ | 37,179 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted-Average | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ |
​ |  | Life (Years) |  | Original Cost |  | Amortization |  | Net Book Value |
​ | ​ | (in thousands) |
Definite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
IMS (UK) international product rights | ​ | 10 | ​ | $ | 8,462 | ​ | $ | 5,430 | ​ | $ | 3,032 | ​
Patents |  | 12 | ​ |  | 486 | ​ | ​ | 362 | ​ |  | 124 | ​
Land-use rights |  | 39 | ​ |  | 2,540 | ​ | ​ | 749 | ​ |  | 1,791 | ​
Subtotal |  | 11 | ​ |  | 11,488 | ​ |  | 6,541 | ​ |  | 4,947 | ​
Indefinite-lived intangible assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Trademark |  | * | ​ |  | 29,225 | ​ |  | — | ​ |  | 29,225 | ​
Goodwill - Finished pharmaceutical products |  | * | ​ |  | 3,126 | ​ |  | — | ​ |  | 3,126 | ​
Subtotal |  | * | ​ |  | 32,351 | ​ |  | — | ​ |  | 32,351 | ​
As of December 31, 2022 |  | * | ​ | $ | 43,839 | ​ | $ | 6,541 | ​ | $ | 37,298 | ​
* | Intangible assets with indefinite lives have an indeterminable average life.
​ Goodwill ​ The changes in the carrying amounts of goodwill are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | December 31, |
​ | ​ | 2023 | ​ | 2022 |
​ | ​ | (in thousands) |
Beginning balance |  | $ | 3,126 |  | $ | 3,313 | ​
Currency translation | ​ |  | 49 | ​ |  | (187) | ​
Ending balance | ​ | $ | 3,175 | ​ | $ | 3,126 | ​
​ 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 March 31, 2023. ​ 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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