DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

BUSINESS, PRESENTATION, AND RECENT ACCOUNTING PRONOUNCEMENTS

Schedule of disaggregation of revenue and revenue recognized

The following table depicts the disaggregation of revenue:

Products and Services	Years Ended December 31,
(in thousands)	2019		2018		2017
Sales of generic pharmaceutical products	$	128,729	$	117,451	$	118,437
Sales of branded pharmaceutical products		63,767		60,554		50,919
Sales of contract manufactured products		11,139		9,119		7,046
Royalties from licensing agreements		807		12,504		—
Product development services		1,125		1,019		—
Other(1)		980		929		440
Total net revenues	$	206,547	$	201,576	$	176,842

⁽¹⁾ Primarily includes laboratory services and royalties on sales of contract manufactured products

Timing of Revenue Recognition	Years Ended December 31,
(in thousands)	2019		2018		2017
Performance obligations transferred at a point in time	$	205,422	$	200,557	$	176,842
Performance obligations transferred over time		1,125		1,019		—
Total	$	206,547	$	201,576	$	176,842

Schedule of Valuation and Qualifying Accounts Disclosure

The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the years ended December 31, 2019, 2018, and 2017:

	Accruals for Chargebacks, Returns, and Other Allowances
							Administrative		Prompt
			Government				Fees and Other		Payment
(in thousands)	Chargebacks		Rebates		Returns		Rebates		Discounts
Balance at December 31, 2016	$	26,785	$	5,891	$	5,756	$	3,550	$	1,554
Accruals/Adjustments		179,297		12,237		12,184		24,037		8,126
Credits Taken Against Reserve		(177,852)		(10,198)		(9,666)		(22,361)		(7,846)
Balance at December 31, 2017	$	28,230	$	7,930	$	8,274	$	5,226	$	1,834
Accruals/Adjustments		229,813		11,383		14,243		33,167		9,371
Credits Taken Against Reserve		(219,036)		(10,339)		(9,965)		(31,040)		(9,196)
Balance at December 31, 2018	$	39,007	$	8,974	$	12,552	$	7,353	$	2,009
Accruals/Adjustments		260,771		17,549		19,105		36,874		10,789
Credits Taken Against Reserve		(249,896)		(17,622)		(15,062)		(35,946)		(10,249)
Balance at December 31, 2019	$	49,882	$	8,901	$	16,595	$	8,281	$	2,549

Schedule of Earnings per share, basic and diluted

The numerator for earnings per share for the years ended December 31, 2019, 2018, and 2017 are calculated for basic and diluted earnings (loss) per share as follows:

	Basic						Diluted
(in thousands, except per share amounts)	Years Ended December 31,						Years Ended December 31,
	2019		2018		2017		2019		2018		2017
Net income/(loss)	$	6,094	$	15,494	$	(1,076)	$	6,094	$	15,494	$	(1,076)
Net income allocated to restricted stock		(97)		(154)		—		(97)		(154)		—
Net income/(loss) allocated to common shares	$	5,997	$	15,340	$	(1,076)	$	5,997	$	15,340	$	(1,076)
Basic Weighted-Average Shares Outstanding		11,841		11,677		11,547		11,841		11,677		11,547
Dilutive effect of stock options and ESPP								103		95		—
Dilutive effect of Notes								96		—		—
Diluted Weighted-Average Shares Outstanding								12,040		11,772		11,547
Earnings/(Loss) per share	$	0.51	$	1.31	$	(0.09)	$	0.50	$	1.30	$	(0.09)

Schedule of revenue from company's revenue by geographic operations

The following table depicts the Company’s revenue by geographic operations during the following periods:

(in thousands)	Years Ended December 31,
Location of Operations	2019		2018		2017
United States	$	199,663	$	196,886	$	176,842
Canada		6,884		4,690		—
Total Revenue	$	206,547	$	201,576	$	176,842

Schedule of company's property and equipment, net according to geographic location

The following table depicts the Company’s property and equipment, net according to geographic location as of:

(in thousands)	December 31,		December 31,
	2019		2018
United States	$	26,708	$	24,437
Canada		13,843		13,653
Total property and equipment, net	$	40,551	$	38,090