Summary of Change in Carrying Value of Goodwill |
The change in the carrying value of the Company’s goodwill is summarized as follows (in thousands): | | | | | | | | | | | Carrying Value | Balance at December 31, 2020 | | $ | 99,547 | | Goodwill arising from milestones achieved under the Skyepharma Acquisition | | 36,000 | | Goodwill arising from the Flexion Acquisition | | 9,628 | | Balance at December 31, 2021 | | 145,175 | | Goodwill arising from measurement period adjustments associated with the Flexion Acquisition (Note 5) | | 18,068 | | Balance at December 31, 2022 | | $ | 163,243 | |
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Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination |
Intangible assets, net, consists of the developed technology and IPR&D from the Flexion Acquisition and developed technology and customer relationships from the MyoScience Acquisition and are summarized as follows (dollar amounts in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | Gross Carrying Value | | Accumulated Amortization | | Intangible Assets, Net | | Weighted-Average Useful Lives | Developed technologies | | $ | 590,000 | | | $ | (84,376) | | | $ | 505,624 | | | 10 years, 5 months | Customer relationships | | 90 | | | (34) | | | 56 | | | 10 years | Total finite-lived intangible assets, net | | 590,090 | | | (84,410) | | | 505,680 | | | | Acquired IPR&D | | 34,866 | | | — | | | 34,866 | | | | Total intangible assets, net | | $ | 624,956 | | | $ | (84,410) | | | $ | 540,546 | | | | | | | | | | | | | December 31, 2021 | | Gross Carrying Value | | Accumulated Amortization | | Intangible Assets, Net | | Weighted-Average Useful Lives | Developed technology | | $ | 590,000 | | | $ | (27,097) | | | $ | 562,903 | | | 10 years, 5 months | Customer relationships | | 90 | | | (25) | | | 65 | | | 10 years | Total finite-lived intangible assets, net | | 590,090 | | | (27,122) | | | 562,968 | | | | Acquired IPR&D | | 61,000 | | | — | | | 61,000 | | | | Total intangible assets, net | | $ | 651,090 | | | $ | (27,122) | | | $ | 623,968 | | | |
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