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Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Information Relating to our Recognized Intangible Assets | The following table presents information relating to our recognized intangible assets.
|  | March 31, 2025 |  | December 31, 2024
(dollars in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Developed product rights (1) |  | $ | 41.6 |  |  | $ | 9.0 |  |  | $ | 32.6 |  |  | $ | 40.5 |  |  | $ | 7.7 |  |  | $ | 32.8 |
Acquired IPR&D (2) |  | $ | 3.8 |  |  | $ | — |  |  | 3.8 |  |  | $ | 3.7 |  |  | $ | — |  |  | 3.7 |
Total intangible assets, net |  |  |  |  |  | $ | 36.4 |  |  |  |  |  |  | $ | 36.5 |
_________________________ (1) Developed product rights have a useful life of 10 to 16 years. (2) Acquired IPR&D is considered indefinite lived until the completion or abandonment of the associated research and development efforts.
Schedule of Information Relating to our Recognized Intangible Assets | The following table presents information relating to our recognized intangible assets.
|  | March 31, 2025 |  | December 31, 2024
(dollars in millions) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Developed product rights (1) |  | $ | 41.6 |  |  | $ | 9.0 |  |  | $ | 32.6 |  |  | $ | 40.5 |  |  | $ | 7.7 |  |  | $ | 32.8 |
Acquired IPR&D (2) |  | $ | 3.8 |  |  | $ | — |  |  | 3.8 |  |  | $ | 3.7 |  |  | $ | — |  |  | 3.7 |
Total intangible assets, net |  |  |  |  |  | $ | 36.4 |  |  |  |  |  |  | $ | 36.5 |
_________________________ (1) Developed product rights have a useful life of 10 to 16 years. (2) Acquired IPR&D is considered indefinite lived until the completion or abandonment of the associated research and development efforts.
Schedule of Estimated Annual Amortization Expense for our Finite-Lived Intangible Assets | The following table presents approximate future annual amortization expense for our finite-lived intangible assets as of March 31, 2025.
(in millions) | Amount
Year ending December 31, 2025 (9 months remaining) | $ | 3.0 |
Year ending December 31, 2026 | $ | 4.0 |
Year ending December 31, 2027 | $ | 4.0 |
Year ending December 31, 2028 | $ | 4.0 |
Year ending December 31, 2029 | $ | 4.0 |
Thereafter | $ | 13.6 |

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