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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | A summary of the activity impacting goodwill is presented below (in thousands):
Balance as of December 31, 2022 |  | $ | 409,049 |
Measurement period adjustments (1) |  | 7,772 |
Balance as of December 31, 2023 |  | $ | 416,821 |
(1) Refer to Note 3, Business Combination, for further discussion on the measurement period adjustments.
Schedule of Finite-Lived Intangible Assets Accumulated Amortization and Weighted Average Useful Lives | The following table shows the cost, accumulated amortization and weighted average useful life in years for our acquired intangible assets as of December 31, 2023 (in thousands).
|  | Weighted average useful life (in years) |  | Gross Carrying Value |  |  |  |  | Accumulated Amortization |  | Net Carrying Value
Auto-Injector technology platform |  | 7 |  | $ | 402,000 |  |  |  |  |  | $ | 92,163 |  |  | $ | 309,837 |
XYOSTED proprietary product |  | 10 |  | 136,200 |  |  |  |  |  | 21,858 |  |  | 114,342 |
Total finite-lived intangibles, net (1) |  | $ | 538,200 |  |  |  |  |  | $ | 114,021 |  |  | $ | 424,179 |
ATRS-1902 (IPR&D) |  | Indefinite |  |  |  |  |  |  |  |  | 48,700 |
Total intangibles, net |  | $ | 472,879 |
(1) An impairment charge of $2.5 million was recognized during the year ended December 31, 2023 resulting in the full impairment of the TLANDO product rights intangible asset. The impairment charge resulted from the notice of termination of the TLANDO license agreement provided to Lipocine in September 2023, effective January 31, 2024, and is included in amortization of intangibles in our consolidated statements of income.
Schedule of Indefinite-Lived Intangible Assets | The following table shows the cost, accumulated amortization and weighted average useful life in years for our acquired intangible assets as of December 31, 2023 (in thousands).
|  | Weighted average useful life (in years) |  | Gross Carrying Value |  |  |  |  | Accumulated Amortization |  | Net Carrying Value
Auto-Injector technology platform |  | 7 |  | $ | 402,000 |  |  |  |  |  | $ | 92,163 |  |  | $ | 309,837 |
XYOSTED proprietary product |  | 10 |  | 136,200 |  |  |  |  |  | 21,858 |  |  | 114,342 |
Total finite-lived intangibles, net (1) |  | $ | 538,200 |  |  |  |  |  | $ | 114,021 |  |  | $ | 424,179 |
ATRS-1902 (IPR&D) |  | Indefinite |  |  |  |  |  |  |  |  | 48,700 |
Total intangibles, net |  | $ | 472,879 |
(1) An impairment charge of $2.5 million was recognized during the year ended December 31, 2023 resulting in the full impairment of the TLANDO product rights intangible asset. The impairment charge resulted from the notice of termination of the TLANDO license agreement provided to Lipocine in September 2023, effective January 31, 2024, and is included in amortization of intangibles in our consolidated statements of income.
Schedule of Finite-Lived Intangible Assets, Estimated Future Amortization Expense | Estimated future annual amortization of finite-lived intangible assets is shown in the following table (in thousands). Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.
Year |  | Amortization Expense
2024 |  | $ | 71,049 |
2025 |  | 71,049 |
2026 |  | 71,049 |
2027 |  | 71,049 |
2028 |  | 71,049 |
Thereafter |  | 68,934 |
Total |  | $ | 424,179 |

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