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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2023

10. Goodwill and Intangible Assets

The following tables summarizes the changes in the carrying amount of goodwill:


	Amount
Balance at December 31, 2022	$	133,695
Goodwill resulting from acquisitions		—
Measurement period adjustments from BDSI Acquisition		162
Balance at June 30, 2023	$	133,857

The Company’s goodwill resulted from the BDSI Acquisition. Refer to Note 4, Acquisitions.

The following table sets forth the cost, accumulated amortization, and carrying amount of intangible assets as of June 30, 2023 and December 31, 2022:


		June 30, 2023						December 31, 2022
	Amortization Period (Years)		Cost		Accumulated Amortization		Carrying Amount		Cost		Accumulated Amortization		Carrying Amount
Belbuca	4.8	$	360,000	$	(96,123)	$	263,877	$	360,000	$	(58,428)	$	301,572
Nucynta Products	8.0		521,170		(353,219)		167,951		521,170		(319,628)		201,542
Symproic	9.6		70,000		(9,289)		60,711		70,000		(5,646)		64,354
Elyxyb	—		—		—		—		5,000		(5,000)		—
Total intangibles		$	951,170	$	(458,631)	$	492,539	$	956,170	$	(388,702)	$	567,468

The following table presents amortization expense recognized in cost of product revenues for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
Belbuca	$	18,846	$	18,796	$	37,695	$	20,733
Nucynta Products		16,795		16,796		33,591		33,591
Symproic		1,822		1,821		3,643		2,003
Elyxyb		—		88		—		97
Total amortization expense	$	37,463	$	37,501	$	74,929	$	56,424

As of June 30, 2023, the remaining amortization expense expected to be recognized is as follows:


Years ended December 31,	Belbuca		Nucynta Products		Symproic		Total
2023	$	37,698	$	33,590	$	3,642	$	74,930
2024		75,393		67,181		7,285		149,859
2025		75,393		67,180		7,285		149,858
2026		75,393		—		7,285		82,678
2027		—		—		7,285		7,285
Thereafter		—		—		27,929		27,929
Remaining amortization expense	$	263,877	$	167,951	$	60,711	$	492,539