REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)

6 Months Ended

Jun. 30, 2022

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)	2022		2021		2022		2021
Sales of generic pharmaceutical products	$	49,863	$	34,199	$	98,970	$	66,812
Sales of established brand pharmaceutical products		8,463		11,038		16,915		18,555
Sales of rare disease pharmaceutical products		10,202		—		11,494		—
Sales of contract manufactured products		4,389		2,322		7,293		4,895
Royalties from licensing agreements		194		—		2,097		11,210
Product development services		531		97		1,097		255
Other		213		969		466		1,419
Total net revenues	$	73,855	$	48,625	$	138,332	$	103,146

	Three Months Ended				Six Months Ended
Timing of Revenue Recognition	June 30,		June 30,		June 30,		June 30,
(in thousands)	2022		2021		2022		2021
Performance obligations transferred at a point in time	$	73,324	$	48,528	$	137,235	$	102,891
Performance obligations transferred over time		531		97		1,097		255
Total	$	73,855	$	48,625	$	138,332	$	103,146

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, 2022 and 2021, 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, 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
Balance at December 31, 2021 (1)	$	94,066	$	5,492	$	35,831	$	13,100	$	4,642
Accruals/Adjustments		320,191		9,356		15,057		20,701		10,494
Credits Taken Against Reserve		(274,714)		(5,408)		(15,989)		(19,283)		(8,938)
Balance at June 30, 2022 (1)	$	139,543	$	9,440	$	34,899	$	14,518	$	6,198

(1) Chargebacks are included as an offset to accounts receivable in the unaudited interim 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 interim condensed consolidated balance sheets. Returns are included in returned goods reserve in the unaudited interim condensed consolidated balance sheets. Government Rebates are included in accrued government rebates in the unaudited interim condensed consolidated balance sheets.

Schedule of customer concentration

	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
	2022		2021		2022		2021
Customer 1	23	%	34	%	27	%	29	%
Customer 2	19	%	26	%	19	%	22	%
Customer 3	15	%	14	%	14	%	14	%