XML 49 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1
REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of disaggregation of revenue and revenue recognized
All revenue recognized in the accompanying consolidated statements of operations is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue:
Years Ended December 31,
Products and Services (in thousands)202420232022
Rare Disease and Brands
Cortrophin Gel$198,085 $112,117 $41,686 
ILUVIEN and YUTIQ31,514 — — 
Rare Disease total net revenues $229,599 $112,117 $41,686 
Brands64,743 85,384 39,462 
Rare Disease and Brands total net revenues $294,342 $197,501 $81,148 
Generics and Other
Generic pharmaceutical products $301,004 $269,449 $210,120 
Royalties and other pharmaceutical services19,030 19,866 25,117 
Generics and Other total net revenues $320,034 $289,315 $235,237 
Total net revenue $614,376 $486,816 $316,385 
Years Ended December 31,
Timing of Revenue Recognition (in thousands)2024 20232022
Performance obligations transferred at a point in time$614,376 $486,441 $313,436 
Performance obligations transferred over time— 375 2,949 
Total$614,376 $486,816 $316,385 
Schedule of accruals and allowances
The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the years ended December 31, 2024, 2023, and 2022:
Accruals for Chargebacks, Returns, and Other Allowances
(in thousands)Chargebacks Government
Rebates		 Returns Administrative
Fees and Other
Rebates		 Prompt
Payment
Discounts
Balance at December 31, 2022 (1)$148,562 $10,872 $33,399 $9,442 $6,488 
Accruals/Adjustments586,511 23,915 18,360 55,798 22,932 
Credits Taken Against Reserve(650,865)(22,619)(22,081)(53,828)(24,555)
Balance at December 31, 2023 (1)$84,208 $12,168 $29,678 $11,412 $4,865 
Accruals/Adjustments576,461 32,008 38,587 65,661 25,760 
Credits Taken Against Reserve(555,039)(25,462)(28,991)(57,485)(24,367)
Balance at December 31, 2024 (1)$105,630 $18,714 $39,274 $19,588 $6,258 
____________________
(1)Chargebacks are included as an offset to accounts receivable, net of chargebacks and other allowances in the consolidated balance sheets. Administrative Fees and Other Rebates and Prompt Payment Discounts are included as a reduction to accounts receivable, net of chargebacks and other allowances or accrued expenses and other in the consolidated balance sheets. Returns are included in returned goods reserve in the consolidated balance sheets. Government Rebates are included in accrued government rebates in the consolidated balance sheets.
Schedule of customer concentration
The four customers represent the total percentage of net revenues as follows:
Years Ended December 31,
202420232022
Customer 125 %31 %26 %
Customer 211 %13 %18 %
Customer 312 %13 %15 %
Customer 416 %12 %6 %