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Intangible assets, net
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Intangible assets, net Intangible assets, net
The Company’s finite-lived intangible assets consist of products acquired via business combinations or asset acquisitions. During the three months ended March 31, the Company incurred a $50.4 million liability payable to Ridgeback, from which the Company acquired its Ebanga® compound, which was subsequently paid in June 2026. This amount increased the basis of the Company's corresponding intangible assets and was recognized during the three months ended March 31, 2026 following resolution of a prior measurement uncertainty related to the obligation.
The following table summarizes the Company’s finite-lived intangible assets:
Weighted Average Useful Life in YearsJune 30, 2026December 31, 2025
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Products12.4$714.4 $452.6 $261.8 $855.4 $418.9 $436.5 
Total intangible assets$714.4 $452.6 $261.8 $855.4 $418.9 $436.5 
Amortization expense associated with the Company’s finite-lived intangible assets was recorded as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Amortization of intangible assets$17.2 $16.2 $33.7 $32.5 
2026 Impairment of long-lived assets
During the preparation and review of the financial statements for the quarter ended June 30, 2026, the Company determined that changes in current and projected operating results, notably related to pricing and sales volumes for NARCAN®, constituted a triggering event for the NARCAN® asset group within the Commercial reporting unit. As a result, the Company performed a recoverability test under ASC 360 and concluded that the carrying value of the asset group was not recoverable, as estimated undiscounted future cash flows were less than its carrying value.
The Company estimated the fair value of the asset group using an income approach utilizing discounted projected future cash flows (level 3 fair value measurement). Significant assumptions in estimating the fair value included management’s estimates of future revenues, gross margins, operating expenses and a discount rate reflective of risks associated with the asset group. The Company recognized a non-cash impairment charge of $191.3 million during the three and six months ended June 30, 2026, which was attributed entirely to the NARCAN® finite-lived intangible asset. The impairment charge is included within “Impairment of long-lived assets” on the Condensed Consolidated Statements of Operations. Following impairment, the NARCAN® intangible asset had a carrying amount of $81.9 million as of June 30, 2026.