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Identifiable Intangible Assets | 3 Months Ended
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Mar. 31, 2020
Identifiable Intangible Assets | NOTE 5 – Identifiable intangible assets: Identifiable intangible assets consisted of the following:
|  | Gross carrying amount net of impairment |  |  | Accumulated amortization |  |  | Net carrying amount |
|  | March 31, |  |  | December 31, |  |  | March 31, |  |  | December 31, |  |  | March 31, |  |  | December 31, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
|  | (U.S. $ in millions) |
Product rights |  | $ | 19,371 |  |  | $ | 19,663 |  |  | $ | 10,969 |  |  | $ | 10,640 |  |  | $ | 8,402 |  |  | $ | 9,023 |
Trade names |  |  | 595 |  |  |  | 600 |  |  |  | 135 |  |  |  | 126 |  |  |  | 460 |  |  |  | 474 |
In process research and development |  |  | 1,394 |  |  |  | 1,735 |  |  |  | — |  |  |  | — |  |  |  | 1,394 |  |  |  | 1,735 |
Total |  | $ | 21,361 |  |  | $ | 21,998 |  |  | $ | 11,104 |  |  | $ | 10,766 |  |  | $ | 10,256 |  |  | $ | 11,232 |
Product rights and trade names Product rights and trade names are assets presented at amortized cost. Product rights and trade names represent a portfolio of pharmaceutical products from various therapeutic categories from various acquisitions with a weighted average life of approximately 12 years. Amortization of intangible assets amounted to $258 million and $283 million in the three months ended March 31, 2020 and 2019, respectively. IPR&D Teva’s IPR&D are assets that have not yet been approved in major markets. Teva’s IPR&D is comprised mainly of various generic products from the Actavis Generics acquisition for $1,333 million. IPR&D carries intrinsic risks that the asset might not succeed in advanced phases and may be impaired in future periods. Intangible assets impairments Impairments of long-lived intangible assets in the first three months of 2020 and 2019 were $649 million and $469 million, respectively. Impairments in the first quarter of 2020 consisted of:
| (a) | IPR&D assets of $331 million, primarily due to: (i) $211 million related to AUSTEDO for the treatment of Tourette syndrome in pediatric patients in the United States; and (ii) $106 million related to generic pipeline products acquired from Actavis Generics due to development progress and changes in other key valuation indications (e.g., market size, competition assumptions, legal landscape, launch date) in the United States; and
| (b) | Identifiable product rights of $318 million, mainly due to: (i) $165 million in Japan in connection with ongoing regulatory pricing reductions and generic competition; and (ii) $138 million due to updated market assumptions regarding price and volume of certain generic products primarily marketed in the United States.
Impairments in the first quarter of 2019 consisted of:
| (a) | IPR&D assets of $265 million, mainly due to: (i) $125 million related to lenalidomide (generic equivalent of Revlimid ® ) due to modified competition assumptions as a result of settlements between the innovator and other generic filers and (ii) $140 million of other generic products acquired from Actavis Generics due to development progress and changes in other key valuation indications (e.g., market size competition assumptions, legal landscape, launch date or discount rate); and
| (b) | Identifiable product rights of $204 million, mainly due to updated market assumptions regarding price and volume of products acquired from Actavis Generics and primarily marketed in the United States.

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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