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Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Intangible Assets

Goodwill and intangible assets consist of the following:

 

 

 

 

 

June 30, 2026

 

 

December 31, 2025

 

(In thousands)

 

Weighted Amortizable Life (Years)

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

Goodwill

 

 

 

$

594,273

 

 

$

—

 

 

$

594,273

 

 

$

83,027

 

 

$

—

 

 

$

83,027

 

Definite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LUMRYZ

 

14

 

$

1,768,600

 

 

$

(34,210

)

 

$

1,734,390

 

 

$

—

 

 

$

—

 

 

$

—

 

Capitalized IP

 

12

 

 

1,000

 

 

 

(234

)

 

 

766

 

 

 

1,000

 

 

 

(185

)

 

 

815

 

Indefinite-lived intangible asset:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IPR&D

 

 

 

 

26,300

 

 

 

—

 

 

 

26,300

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

 

 

$

1,795,900

 

 

$

(34,444

)

 

$

1,761,456

 

 

$

1,000

 

 

$

(185

)

 

$

815

 
Summary of Goodwill A rollforward of the Company’s goodwill is as follows:

 

(In thousands)

 

Goodwill

 

Goodwill at December 31, 2025

 

 

83,027

 

Additions in connection with the Avadel Acquisition

 

 

511,246

 

Goodwill at June 30, 2026

 

 

594,273