REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)

6 Months Ended

Jun. 30, 2021

REVENUE RECOGNITION AND RELATED ALLOWANCES

Schedule of disaggregation of revenue and revenue recognized

	Three Months Ended				Six Months Ended
Products and Services	June 30,		June 30,		June 30,		June 30,
(in thousands)	2021		2020		2021		2020
Sales of generic pharmaceutical products	$	34,199	$	33,400	$	66,812	$	70,895
Sales of branded pharmaceutical products		11,038		10,633		18,555		19,790
Sales of contract manufactured products		2,322		2,900		4,895		4,874
Royalties from licensing agreements		—		491		11,210		781
Product development services		97		885		255		1,462
Other		969		161		1,419		442
Total net revenues	$	48,625	$	48,470	$	103,146	$	98,244

	Three Months Ended				Six Months Ended
Timing of Revenue Recognition	June 30,		June 30,		June 30,		June 30,
(in thousands)	2021		2020		2021		2020
Performance obligations transferred at a point in time	$	48,528	$	47,585	$	102,891	$	96,782
Performance obligations transferred over time		97		885		255		1,462
Total	$	48,625	$	48,470	$	103,146	$	98,244

Schedule of accruals and allowances

The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the six months ended June 30, 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		181,986		7,519		14,103		17,392		6,551
Credits Taken Against Reserve		(169,345)		(6,703)		(10,695)		(17,161)		(6,277)
Balance at June 30, 2020 (1)	$	62,523	$	9,717	$	20,003	$	8,512	$	2,823
Balance at December 31, 2020 (1)	$	88,746	$	7,826	$	27,155	$	8,906	$	3,839
Accruals/Adjustments		214,125		12,980		21,058		32,207		13,315
Credits Taken Against Reserve		(220,776)		(12,066)		(16,309)		(33,071)		(13,682)
Balance at June 30, 2021 (1)	$	82,095	$	8,740	$	31,904	$	8,042	$	3,472

(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				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
	2021		2020		2021		2020
Customer 1	34	%	33	%	29	%	32	%
Customer 2	26	%	22	%	22	%	23	%
Customer 3	14	%	19	%	14	%	19	%