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Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets

Schedule of changes in the carrying amount of goodwill

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​	​	​	​
​	​	Amount
Balance as of December 31, 2021	​	$	—
Goodwill resulting from BDSI Acquisition	​	​	133,695
Balance as of December 31, 2022	​	$	133,695
Measurement period adjustments from BDSI Acquisition	​	​	162
Balance as of December 31, 2023	​	$	133,857

Schedule of gross carrying amount and accumulated amortization of the Intangible Asset

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As of December 31, 2023

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As of December 31, 2022

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Amortization Period (Years)

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Cost

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Accumulated Amortization

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Carrying Amount

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Cost

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Accumulated Amortization

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Carrying Amount

Belbuca

4.8

​

$

360,000

​

$

(133,821)

​

$

226,179

​

$

360,000

​

$

(58,428)

​

$

301,572

Nucynta Products (1)

8.5

​

​

521,170

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​

(382,710)

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​

138,460

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​

521,170

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​

(319,628)

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​

201,542

Symproic

9.6

​

​

70,000

​

​

(12,931)

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​

57,069

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​

70,000

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​

(5,646)

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​

64,354

Elyxyb

—

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—

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—

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—

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5,000

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(5,000)

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​

—

Total intangibles

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​

$

951,170

​

$

(529,462)

​

$

421,708

​

$

956,170

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$

(388,702)

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$

567,468

Summary of amortization expense

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​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		​	2023		​	2022		​	2021
Belbuca		$	75,393		$	58,428		$	—
Nucynta Products (1)	​	​	63,082	​	​	67,181	​	​	67,181
Symproic	​	​	7,285	​	​	5,646	​	​	—
Elyxyb (2)	​	​	—	​	​	5,000	​	​	—
Total amortization and impairment expense	​	$	145,760	​	$	136,255	​	$	67,181

​

(1) During the three months ended September 30, 2023, the United States Food and Drug Administration (“FDA”) granted New Patient Population exclusivity in pediatrics for Nucynta IR which extends the period of U.S. exclusivity for Nucynta IR to July 3, 2026, resulting in an extension of the estimated useful life of the underlying intangible asset from 8.0 years to 8.5 years. This change in estimate resulted in a decrease of amortization expense of $4,099 and an increase in net income of $3,037 during the year ended December 31, 2023. The impact to earnings per share — basic and earnings per share — diluted was $0.09 and $0.07, respectively, during the year ended December 31, 2023.

(2) Includes $214 of amortization expense and $4,786 of impairment expense.

Schedule of future amortization expenses

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​	​	​	​	​	​	​	​	​	​	​	​
Years ended December 31,	Belbuca		​	Nucynta Products		​	Symproic		​	Total
2024	$	75,393	​	$	55,384	​	$	7,285	​	$	138,062
2025	​	75,393	​	​	55,384	​	​	7,285	​	​	138,062
2026	​	75,393	​	​	27,692	​	​	7,285	​	​	110,370
2027	​	—	​	​	—	​	​	7,285	​	​	7,285
2028	​	—	​	​	—	​	​	7,285	​	​	7,285
Thereafter	​	—	​	​	—	​	​	20,644	​	​	20,644
Remaining amortization expense	$	226,179	​	$	138,460	​	$	57,069	​	$	421,708

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