v3.26.1
Goodwill and Intangible Assets, net
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, net Goodwill and Intangible Assets, net
Goodwill
A summary of the activity impacting goodwill is presented below (in thousands):
Balance as of December 31, 2025
$580,360 
Measurement period adjustment
1,963 
Balance as of March 31, 2026
$582,323 
Intangible Assets, net
Our acquired intangible assets are amortized using the straight-line method over their estimated useful lives of seven to fifteen years. The following table shows the cost, accumulated amortization and weighted average useful life in years for our acquired intangible assets as of March 31, 2026 (in thousands).
Weighted Average Useful Life (in years)
Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Auto-injector technology platform7$402,000 $221,378 $180,622 
XYOSTED proprietary product10136,200 52,503 83,697 
Hypercon developed technology platform15230,000 5,665 224,335 
Customer relationships (1)
15470,000 11,576 458,424 
Trade name155,000 123 4,877 
Total intangible assets, net$1,243,200 $291,245 $951,955 

(1) A partner is currently evaluating the potential return of a target. Through discussions with the partner, we expect the partner will make a decision by September 2026. If the partner does decide to return the target in the future without nominating an alternative target with similar future cash flows, we would be required to evaluate the impact to our acquired customer relationship intangibles associated with the Elektrofi acquisition, along with other identified intangibles and goodwill of the reporting unit. Such assessment could result in a material interim impairment charge to intangibles and/or goodwill, depending on the facts and circumstances.
The following table shows the cost, accumulated amortization and weighted average useful life in years for our acquired intangible assets as of December 31, 2025 (in thousands).
Weighted Average Useful Life (in years)
Gross Carrying ValueAccumulated AmortizationNet Carrying Value
Auto-injector technology platform
7$402,000 $207,021 $194,979 
XYOSTED proprietary product10136,200 49,098 87,102 
Hypercon developed technology platform
15230,000 1,831 228,169 
Customer relationships15470,000 3,743 466,257 
Trade name
155,000 40 4,960 
Total intangible assets, net
$1,243,200 $261,733 $981,467 
Estimated future annual amortization of finite-lived intangible assets is shown in the following table (in thousands). Actual amortization expense to be reported in future periods could differ from these estimates as a result of acquisitions, divestitures, and asset impairments, among other factors.
YearAmortization Expense
Remainder of 2026
$88,535 
2027
118,049 
2028
118,049 
2029
83,314 
2030
60,620 
Thereafter483,388 
Total$951,955