REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)

3 Months Ended

Mar. 31, 2021

REVENUE RECOGNITION AND RELATED ALLOWANCES

Schedule of disaggregation of revenue and revenue recognized

	Three Months Ended
Products and Services	March 31,		March 31,
(in thousands)	2021		2020
Sales of generic pharmaceutical products	$	32,988	$	37,495
Sales of branded pharmaceutical products		7,517		9,157
Sales of contract manufactured products		2,573		1,974
Royalties from licensing agreements		11,210		290
Product development services		158		577
Other		75		281
Total net revenues	$	54,521	$	49,774

	Three Months Ended
Timing of Revenue Recognition	March 31,		March 31,
(in thousands)	2021		2020
Performance obligations transferred at a point in time	$	54,363	$	49,197
Performance obligations transferred over time		158		577
Total	$	54,521	$	49,774

Schedule of accruals and allowances

The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the three months ended March 31, 2021 and 2020, respectively:

	Accruals for Chargebacks, Returns, and Other Allowances
							Administrative		Prompt
			Government				Fees and Other		Payment
(in thousands)	Chargebacks		Rebates		Returns		Rebates		Discounts
Balance at December 31, 2019 (1)	$	49,882	$	8,901	$	16,595	$	8,281	$	2,549
Accruals/Adjustments		95,393		3,567		5,937		8,922		3,361
Credits Taken Against Reserve		(51,575)		(4,438)		(4,918)		(8,817)		(2,219)
Balance at March 31, 2020 (1)	$	93,700	$	8,030	$	17,614	$	8,386	$	3,691
Balance at December 31, 2020 (1)	$	88,746	$	7,826	$	27,155	$	8,906	$	3,839
Accruals/Adjustments		96,701		4,656		4,811		7,634		3,196
Credits Taken Against Reserve		(114,114)		(3,810)		(3,022)		(9,184)		(3,959)
Balance at March 31, 2021 (1)	$	71,333	$	8,672	$	28,944	$	7,356	$	3,076

(1) Chargebacks are included as an offset to accounts receivable in the unaudited condensed consolidated balance sheets. Administrative Fees and Other Rebates and Prompt Payment Discounts are included as an offset to accounts receivable or as accrued expenses and other in the unaudited condensed consolidated balance sheets. Returns are included in returned goods reserve in the unaudited condensed consolidated balance sheets. Government Rebates are included in accrued government rebates in the unaudited condensed consolidated balance sheets.

Schedule of customer concentration

	Three Months Ended
	March 31,		March 31,
	2021		2020
Customer 1	28	%	31	%
Customer 2	24	%	23	%
Customer 3	16	%	18	%