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Goodwill and Intangible Assets (Tables)
 12 Months Ended
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 ValueAccumulated AmortizationNet Carrying Value
Auto-Injector technology platform7$402,000 $92,163 $309,837 
XYOSTED proprietary product10136,200 21,858 114,342 
Total finite-lived intangibles, net (1)
$538,200 $114,021 $424,179 
ATRS-1902 (IPR&D)Indefinite48,700 
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 ValueAccumulated AmortizationNet Carrying Value
Auto-Injector technology platform7$402,000 $92,163 $309,837 
XYOSTED proprietary product10136,200 21,858 114,342 
Total finite-lived intangibles, net (1)
$538,200 $114,021 $424,179 
ATRS-1902 (IPR&D)Indefinite48,700 
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 
202571,049 
202671,049 
202771,049 
202871,049 
Thereafter68,934 
Total$424,179