INVENTORIES

6 Months Ended

Jun. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following as of:

(in thousands)	June 30, 2023		December 31, 2022
Raw materials	$	67,019	$	67,726
Packaging materials	8,079		7,720
Work-in-progress	3,258		1,889
Finished goods	25,967		28,020
Inventories	$	104,323	$	105,355

Vendor ConcentrationWe source the raw materials for our products, including active pharmaceutical ingredients (“API”), from both domestic and international suppliers. Generally, only a single source of API is qualified for use in each product due to the cost and time required to validate a second source of supply. As a result, we are dependent upon our current vendors to reliably supply the API required for on-going product manufacturing. During the three and six months ended June 30, 2023, no single vendor represented more than 10% of inventory purchases. During the three and six months ended June 30, 2022, one vendor represented 18% and 17% of inventory purchases, respectively.