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SEGMENT REPORTING (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of financial information by reportable segments
Financial information by reportable segment is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2024202320242023
Net Revenues
Generics, Established Brands, and Other$91,906 $102,095 $281,246 $284,794 
Rare Disease56,426 29,734 142,556 70,368 
Total net revenues$148,332 $131,829 $423,802 $355,162 
Segment earnings before interest, taxes, depreciation and amortization (“EBITDA”) and reconciliation to income before income taxes
Generics, Established Brands, and Other$33,588 $41,234 $110,528 $120,070 
Rare Disease6,626 4,044 14,826 6,937 
Depreciation and amortization(15,748)(15,207)(45,131)(44,597)
Corporate and other unallocated expenses(1)
(44,985)(12,123)(75,261)(42,165)
Total operating (loss) income (20,519)17,948 4,962 40,245 
Unrealized gain on investment in equity securities 1,355 — 8,298 — 
Interest expense, net(2,331)(6,398)(11,587)(21,194)
Other expense, net (2)
(10,003)(39)(10,123)(126)
(Loss) Income Before Income Tax (Benefit) Expense$(31,498)$11,511 $(8,450)$18,925 
______________________________________________
(1)Includes expenses not directly allocated or attributable to a reporting segment, including certain management, legal, accounting, human resources, insurance, and information technology expenses, transaction and integration expenses related to the acquisition of Alimera, severance and equity payouts, and are included in selling, general, and administrative expenses in our unaudited interim consolidated statement of operations. This amount also includes the gain on the sale of the Oakville, Ontario site of approximately $5.3 million, which occurred in the first quarter of 2024.
(2)The loss on extinguishment of approximately $7.5 million, which occurred in the third quarter of 2024 is included in Other expense, net above. Refer to Note 4 “Restructuring Canada Operations” to the Notes to Condensed Consolidated Financial Statements for further information.
Schedule of revenue by geographic operations
The following table depicts the Company’s revenue by geographic operations during the following periods:
(in thousands)Three Months Ended September 30,Nine Months Ended September 30,
Location of Operations2024202320242023
United States$147,116 $131,829 $422,586 $354,597 
International1,216 — 1,216 565 
Total Revenue$148,332 $131,829 $423,802 $355,162 
Schedule of property, plant and equipment, net by geographic location The Company’s property, plant and equipment are as follows:
(in thousands)September 30, 2024December 31, 2023
United States$54,637 $43,163 
International2,067 1,430 
Total property and equipment, net$56,704 $44,593