XML 79 R64.htm IDEA: XBRL DOCUMENT v3.19.1
Fair Value Measurements (Narrative) (Detail) - USD ($)
$ / shares in Units, shares in Millions
3 Months Ended 12 Months Ended
Jan. 07, 2018
Dec. 13, 2016
Sep. 21, 2016
Jul. 08, 2016
Jun. 02, 2016
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Aug. 01, 2018
Jun. 30, 2018
Jun. 27, 2018
Mar. 29, 2017
Jul. 09, 2016
Dec. 15, 2015
Sep. 18, 2015
Jul. 28, 2015
Nov. 06, 2014
Jun. 26, 2014
Oct. 18, 2013
Investment Owned, Balance, Shares                               1.7          
Asset Impairment Charges               $ 8,200,000 $ 0 $ 3,735,000                      
Investment estimated fair value, per share           $ 3.84   $ 3.84                          
Impairment of Intangible Assets, Finite-lived               $ 152,330,000 0 0                      
Intangible assets, net           $ 51,319,000 $ 215,823,000 51,319,000 215,823,000                        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value           376,510,000 349,223,000 376,510,000 349,223,000                        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings               7,287,000                          
Cash payment for purchase of royalty right                                     $ 65,600,000    
Proceeds from Sale of Productive Assets               0 108,169,000 0                      
Sale of royalty multiple                           120.00%              
Proceeds from Legal Settlements             13,000,000                            
Royalty rights - at fair value           376,510,000 349,223,000 376,510,000 349,223,000                        
Percentage of royalty acquired                                     75.00%    
Revenue Recognition, Milestone Method, Revenue Recognized   $ 6,000,000 $ 5,000,000   $ 6,000,000                                
Maximum amount of additional funds, upon attainment of milestones $ 2,000,000                                        
Change in fair value of acquired royalty rights, Level 3 Rollforward               85,256,000 162,327,000                        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings               41,631,000 (349,000)                        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements               (858,000) 0 $ 0                      
Notes Receivable, Fair Value Disclosure           70,000,000 71,300,000 70,000,000 71,300,000                        
Investment Owned, at Fair Value                               $ 6,600,000          
Transfers from level 1 to level 2, amount           0 0 0 0                        
Transfers from level 2 to level 1, amount           $ 0 0 $ 0 0                        
VB [Member]                                          
Cash flow model expected royalty sales term           10 years                              
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate           15.00%   15.00%                          
Fair Value Measurements, Sensitivity Analysis, Description               Should this discount rate increase or decrease by 2.5%, the fair value of this asset could decrease by $1.4 million or increase by $1.6 million, respectively. Should the expected royalties increase or decrease by 2.5%, the fair value of the asset could increase or decrease by $0.4 million, respectively.                          
Royalty rights - at fair value           $ 14,100,000   $ 14,100,000                          
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount           $ 14,100,000   $ 14,100,000                       $ 15,500,000  
Royalty asset multiple               0                          
University of Michigan [Member]                                          
Cash flow model expected royalty sales term           4 years                              
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate           12.80%   12.80%                          
Fair Value Measurements, Sensitivity Analysis, Description               Should this discount rate increase or decrease by 2.5%, the fair value of this asset could decrease by $1.1 million or increase by $1.2 million, respectively. Should the expected royalties increase or decrease by 2.5%, the fair value of the asset could increase or decrease by $0.6 million, respectively.                          
Royalty rights - at fair value           $ 25,600,000   $ 25,600,000                          
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount           $ 25,600,000   $ 25,600,000                          
Depomed [Member]                                          
Cash payment for purchase of royalty right                     $ 20,000,000                   $ 240,500,000
Maximum royalty prior to amendment                                         481,000,000
Cash flow model expected royalty sales term           9 years                              
Purchase of royalty right                                         241,300,000
Royalty right purchase transaction costs                                         $ 800,000
Fair Value Measurements, Sensitivity Analysis, Description               Should these discount rates increase or decrease by 2.5%, the fair value of the asset could decrease by $22.9 million or increase by $27.2 million, respectively. A third-party expert was engaged to assist management develop its original estimate of the expected future cash flows, which was updated after the acquisition of Depomed’s reversionary interest in August 2018. The estimated fair value of the asset is subject to variation should those cash flows vary significantly from those estimates. The Company periodically assesses the expected future cash flows and to the extent such payments are greater or less than its initial estimates, or the timing of such payments is materially different than the original estimates, the Company will adjust the estimated fair value of the asset. Should the expected royalties increase or decrease by 2.5%, the fair value of the asset could increase or decrease by $6.6 million, respectively.                          
Royalty rights - at fair value           $ 264,400,000   $ 264,400,000                          
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount           $ 264,400,000   $ 264,400,000                          
ARIAD [Member]                                          
Proceeds from Sale of Productive Assets                 108,200,000                        
Purchase of royalty right                                   $ 100,000,000      
Royalty Guarantees, Commitments, Amount                                   200,000,000      
ARIAD [Member] | Tranche 1 [Member]                                          
Purchase of royalty right                                   50,000,000      
ARIAD [Member] | Tranche 3 [Member]                                          
Cash payment for purchase of royalty right                                   $ 100,000,000      
AcelRx [Member]                                          
Cash flow model expected royalty sales term           14 years                              
Purchase of royalty right                                 $ 65,000,000        
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate           13.40%   13.40%                          
Fair Value Measurements, Sensitivity Analysis, Description               Should this discount rate increase or decrease by 2.5%, the fair value of this asset could decrease by $9.9 million or increase by $12.2 million, respectively. Should the expected royalties increase or decrease by 2.5%, the fair value of the asset could increase or decrease by $1.8 million, respectively.                          
Royalty rights - at fair value           $ 70,400,000   $ 70,400,000                          
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount           $ 70,400,000   $ 70,400,000                          
Percentage of royalty acquired                                 75.00%        
Kybella [Member]                                          
Cash flow model expected royalty sales term           7 years                              
Purchase of royalty right                             $ 9,500,000            
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate           14.40%   14.40%                          
Fair Value Measurements, Sensitivity Analysis, Description               Should this discount rate increase or decrease by 2.5%, the fair value of this asset could decrease or increase by $0.2 million, respectively. Should the expected royalties increase or decrease by 2.5%, the fair value of the asset could increase or decrease by $0.1 million, respectively.                          
Royalty rights - at fair value           $ 2,100,000   $ 2,100,000                          
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount           $ 2,100,000   $ 2,100,000                          
Maximum amount of additional funds, upon attainment of milestones       $ 1,000,000                                  
Alphaeon [Member]                                          
Investment Owned, Balance, Shares           1.7   1.7                          
Investment Owned, at Fair Value           $ 6,600,000 6,600,000 $ 6,600,000 6,600,000                        
Contingent Consideration [Member]                                          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value           $ (1,071,000) $ (42,000,000) (1,071,000) $ (42,000,000)                        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases               1,560,000                          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings               41,631,000                          
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements               858,000                          
Noden [Member]                                          
Impairment of Intangible Assets, Finite-lived               152,300,000                          
Intangible assets, net                       $ 40,100,000 $ 192,500,000                
CareView [Member]                                          
Asset Impairment Charges               $ 8,200,000                          
Minimum [Member] | Depomed [Member]                                          
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate           10.00%   10.00%                          
Maximum [Member] | Depomed [Member]                                          
Long-Duration Contracts, Assumptions by Product and Guarantee, Discount Rate           24.00%   24.00%