| Goodwill and Intangibles, Net |
10. Goodwill and Intangibles, Net Goodwill The following table represents the change in the carrying value of goodwill for the six months ended June 30, 2026:
|
|
|
|
|
(in thousands) |
|
Amount |
|
Balance at January 1, 2026 |
|
$ |
239,517 |
|
Lantheus Biosciences adjustments |
|
|
(312 |
) |
Foreign currency translation adjustments |
|
|
(155 |
) |
Balance at June 30, 2026 |
|
$ |
239,050 |
|
|
|
|
|
Intangibles, net, consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
(in thousands) |
|
Useful Lives
(in years) |
|
Amortization Method |
|
Gross |
|
|
Accumulated
Amortization |
|
|
Net |
|
Amortizable: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Trademarks |
|
25 |
|
Straight-line |
|
$ |
13,540 |
|
|
$ |
(12,583 |
) |
|
$ |
957 |
|
Customer relationships |
|
5 |
|
Accelerated |
|
|
102,844 |
|
|
|
(95,126 |
) |
|
|
7,718 |
|
Currently marketed products |
|
9 - 10.5 |
|
Straight-line |
|
|
492,800 |
|
|
|
(107,534 |
) |
|
|
385,266 |
|
Licenses |
|
13 - 16 |
|
Straight-line |
|
|
22,233 |
|
|
|
(14,649 |
) |
|
|
7,584 |
|
Developed technology |
|
7 - 9 |
|
Straight-line |
|
|
55,982 |
|
|
|
(17,172 |
) |
|
|
38,810 |
|
Total amortizable intangibles |
|
|
|
|
|
|
687,399 |
|
|
|
(247,064 |
) |
|
|
440,335 |
|
Non-amortizable: |
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research and development |
|
Indefinite |
|
|
|
|
249,000 |
|
|
|
— |
|
|
|
249,000 |
|
Total intangibles, net |
|
|
|
|
|
$ |
936,399 |
|
|
$ |
(247,064 |
) |
|
$ |
689,335 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
(in thousands) |
|
Useful Lives
(in years) |
|
Amortization Method |
|
Gross |
|
|
Accumulated
Amortization |
|
|
Net |
|
Amortizable: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Trademarks |
|
25 |
|
Straight-line |
|
$ |
13,540 |
|
|
$ |
(12,509 |
) |
|
$ |
1,031 |
|
Customer relationships |
|
5 |
|
Accelerated |
|
|
102,958 |
|
|
|
(90,834 |
) |
|
|
12,124 |
|
Currently marketed products |
|
9 - 10.5 |
|
Straight-line |
|
|
492,800 |
|
|
|
(83,013 |
) |
|
|
409,787 |
|
Licenses |
|
13 - 16 |
|
Straight-line |
|
|
22,233 |
|
|
|
(14,167 |
) |
|
|
8,066 |
|
Developed technology |
|
7 - 9 |
|
Straight-line |
|
|
55,982 |
|
|
|
(13,211 |
) |
|
|
42,771 |
|
Total amortizable intangibles |
|
|
|
|
|
|
687,513 |
|
|
|
(213,734 |
) |
|
|
473,779 |
|
Non-amortizable: |
|
|
|
|
|
|
|
|
|
|
|
|
|
In-process research and development |
|
Indefinite |
|
|
|
|
249,000 |
|
|
|
— |
|
|
|
249,000 |
|
Total intangibles, net |
|
|
|
|
|
$ |
936,513 |
|
|
$ |
(213,734 |
) |
|
$ |
722,779 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Company recorded amortization expense for its intangible assets of $16.7 million and $8.0 million for the three months ended June 30, 2026 and 2025, respectively, and $33.4 million and $16.0 million for the six months ended June 30, 2026 and 2025, respectively. The table below summarizes the estimated aggregate amortization expense expected to be recognized on the above intangible assets:
|
|
|
|
|
(in thousands) |
|
Amount |
|
Remainder of 2026 |
|
$ |
33,451 |
|
2027 |
|
|
61,380 |
|
2028 |
|
|
58,074 |
|
2029 |
|
|
57,930 |
|
2030 |
|
|
49,041 |
|
2031 and thereafter |
|
|
180,459 |
|
Total |
|
$ |
440,335 |
|
|