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INTANGIBLE ASSETS | 7. INTANGIBLE ASSETS Goodwill As a result of our 2013 merger with BioSante Pharmaceuticals, Inc., we recorded goodwill of $1.8 million. As a result of our acquisition of WellSpring, we recorded additional goodwill of $1.7 million in 2018. We assess the recoverability of the carrying value of goodwill on an annual basis as of October 31 of each year, and whenever events occur or circumstances changes that would, more likely than not, reduce the fair value of our reporting unit below its carrying value. For the goodwill impairment analyses performed at October 31, 2020 and 2019, we performed qualitative assessments to determine whether it was more likely than not that our goodwill asset was impaired in order to determine the necessity of performing a quantitative impairment test, under which management would calculate the asset’s fair value. When performing the qualitative assessments, we evaluated events and circumstances that would affect the significant inputs used to determine the fair value of the goodwill. Events and circumstances evaluated include: macroeconomic conditions that could affect us, industry and market considerations for the pharmaceutical industry that could affect us, cost factors that could affect our performance, our financial performance (including share price), and consideration of any company-specific events that could negatively affect us, our business, or our fair value. Based on our assessments of the aforementioned factors, it was determined that it was more likely than not that the fair value of our one reporting unit is greater than its carrying amount as of October 31, 2020 and 2019, and therefore no quantitative testing for impairment was required. In addition to the qualitative impairment analysis performed at October 31, 2020, there were no events or changes in circumstances that could have reduced the fair value of our reporting unit below its carrying value from October 31, 2020 to December 31, 2020. No impairment loss was recognized during the years ended December 31, 2020, 2019, and 2018, and the balance of goodwill was $3.6 million as of December 31, 2020 and 2019. Definite-lived Intangible Assets The components of net definite-lived intangible assets are as follows:
Definite-lived intangible assets are stated at cost, net of amortization, generally using the straight-line method over the expected useful lives of the intangible assets. In the case of certain NDA, we use an accelerated amortization method to better match the anticipated economic benefits expected to be provided. Amortization expense was $39.9 million, $40.2 million, and $31.7 million for the years ended December 31, 2020, 2019, and 2018, respectively. Refer to Note 8 for more details on acquired definite-lived intangible assets. We test for impairment of definite-lived intangible assets when events or circumstances indicate that the carrying value of the assets may not be recoverable. We recognized an impairment of $0.4 million in the year ended December 31, 2020, in relation to a marketing and distribution right asset. We recognized an impairment of $75 thousand in the year ended December 31, 2019, in relation to a product right asset. No impairment losses related to intangible assets were recognized in the year ended December 31, 2018. No events or circumstances arose in 2020, 2019, or 2018 that indicated that the carrying value of any of our other definite-lived intangible assets may not be recoverable. Expected future amortization expense is as follows for the years ending December 31:
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