Company: PCRX
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001396814-25-000041
Chunk: 39

Company: Pacira BioSciences, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 39
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)391,104 Acquired IPR&D34,866 — 34,866 Total intangible assets, net$624,956 $(198,986)$425,970 December 31, 2023GrossCarrying ValueAccumulatedAmortizationIntangibleAssets, NetWeighted-Average Useful LivesDeveloped technology $590,000 $(141,655)$448,345 10 years, 5 monthsCustomer relationships90 (43)47 10 yearsTotal finite-lived intangible assets, net590,090 (141,698)448,392 Acquired IPR&D34,866 — 34,866 Total intangible assets, net$624,956 $(141,698)$483,258 Amortization expense on intangible assets was $57.3 million for each of the years ended December 31, 2024 and 2023. Assuming no changes in the gross carrying amount of these intangible assets, the future estimated amortization expense on the finite-lived intangible assets will be $57.3 million each year from 2025 to 2030, $37.4 million in 2031, $7.9 million in 2032 and $2.2 million in 2033.The Company reviews its indefinite-lived intangible assets for impairment annually and whenever an event or change in circumstances arises that indicates the carrying amount of an indefinite-lived intangible asset is at risk of not being recoverable. During the year ended December 31, 2024 and 2023, the Company conducted the annual impairment assessment for its acquired IPR&D and concluded there was no impairment as of that date. During the year ended December 31, 2022, the annual impairment assessment of ZILRETTA acquired IPR&D for an indication for the treatment of OA pain of the shoulder was conducted through a recoverability test at December 31, 2022 by comparing the $60.0 million carrying value of the asset against the fair value through a discounted cash flow model of $33.9 million based on new facts and circumstances. The change in fair value was primarily driven by later timelines for the completion of clinical trials impacting revenue forecasts, among other factors. An impairment of $26.1 million was recognized within contingent consideration gains, restructuring charges and other in the consolidated statements of operations for the year ended December 31, 2022 based on the amount its previous carrying value