INVENTORIES

12 Months Ended

Dec. 31, 2023

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

The following table shows the Company's inventory by asset class as of the years ended December 31:

(in thousands)	2023		2022
Raw materials	$	62,237	$	67,726
Packaging materials	9,617		7,720
Work-in-progress	3,144		1,889
Finished goods	36,198		28,020
Inventories	$	111,196	$	105,355

Vendor Concentration

Raw materials are sourced for products, including API, from both domestic and international suppliers. Generally, only a single source of API is qualified for use in each product due to the costs and time required to validate a second source of supply. As a result, we are dependent upon current vendors to supply reliably the API required for on-going product manufacturing. During the year ended December 31, 2023, no single vendor represented at least 10% of inventory purchases. During the year ended December 31, 2022, the Company purchased approximately 19% of inventory from one supplier. During the year ended December 31, 2021, no single vendor represented at least 10% of inventory purchases.