INVENTORIES

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following as of:

(in thousands)	September 30, 2023		December 31, 2022
Raw materials	$	58,748	$	67,726
Packaging materials	8,870		7,720
Work-in-progress	3,577		1,889
Finished goods	35,395		28,020
Inventories	$	106,590	$	105,355

Vendor Concentration

Raw materials are sourced for 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, the Company is dependent upon our current vendors to reliably supply the API required for on-going product manufacturing. During the three and nine months ended September 30, 2023, no single vendor represented more than 10% of inventory purchases. During the three months ended September 30, 2022, no single vendor represented more than 10% of inventory purchases. During the nine months ended September 30, 2022, one vendor represented 13% of inventory purchases.