REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)

9 Months Ended

Sep. 30, 2022

REVENUE RECOGNITION AND RELATED ALLOWANCES

Schedule of disaggregation of revenue and revenue recognized

	Three Months Ended				Nine Months Ended
Products and Services	September 30,		September 30,		September 30,		September 30,
(in thousands)	2022		2021		2022		2021
Sales of generic pharmaceutical products	$	53,136	$	35,140	$	152,106	$	101,952
Sales of established brand pharmaceutical products		9,816		14,313		26,731		32,868
Sales of rare disease pharmaceutical products		12,602		—		24,096		—
Sales of contract manufactured products		4,779		2,382		12,072		7,277
Royalties from licensing agreements		1,821		—		3,918		11,210
Product development services		1,503		77		2,600		332
Other		164		149		630		1,568
Total net revenues	$	83,821	$	52,061	$	222,153	$	155,207

	Three Months Ended				Nine Months Ended
Timing of Revenue Recognition	September 30,		September 30,		September 30,		September 30,
(in thousands)	2022		2021		2022		2021
Performance obligations transferred at a point in time	$	82,318	$	51,984	$	219,553	$	154,875
Performance obligations transferred over time		1,503		77		2,600		332
Total	$	83,821	$	52,061	$	222,153	$	155,207

Schedule of accruals and allowances

The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the nine months ended September 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	$	88,746	$	7,826	$	27,155	$	8,906	$	3,839
Accruals/Adjustments		343,117		31,515		16,043		74,594		31,138
Credits Taken Against Reserve		(333,867)		(27,628)		(10,969)		(75,877)		(30,876)
Balance at September 30, 2021 (1)	$	97,996	$	11,713	$	32,229	$	7,623	$	4,101
Balance at December 31, 2021	$	94,066	$	5,492	$	35,831	$	13,100	$	4,642
Accruals/Adjustments		480,626		14,104		18,751		30,475		15,746
Credits Taken Against Reserve		(480,203)		(10,851)		(20,598)		(28,766)		(15,751)
Balance at September 30, 2022 (1)	$	94,489	$	8,745	$	33,984	$	14,809	$	4,637

(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				Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2022		2021		2022		2021
Customer 1	23	%	31	%	26	%	29	%
Customer 2	17	%	23	%	18	%	22	%
Customer 3	16	%	17	%	15	%	15	%