5.	INVENTORIES

Inventories consist of the following as of:

(in thousands)	June 30, 2016		December 31, 2015
Raw materials	$	12,583	$	10,192
Packaging materials		935		998
Work-in-progress		588		456
Finished goods		11,204		1,897
		25,310		13,543
Reserve for excess/obsolete inventories		(258)		(156)
Inventories, net	$	25,052	$	13,387

Vendor Concentration

We source the raw materials for our 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, we are dependent upon our current vendors to reliably supply the API required for ongoing product manufacturing. During the three months ended June 30, 2016, we purchased approximately 48% of our inventory from four suppliers. As of June 30, 2016, amounts payable to these four suppliers totaled $0.3 million. During the six months ended June 30, 2016, we purchased approximately 29% of our inventory from two suppliers. As of June 30, 2016, amounts payable to these two suppliers totaled $0.2 million. During the three months ended June 30, 2015, we purchased approximately 43% of our inventory from two suppliers. During the six months ended June 30, 2015, we purchase approximately 40% of our inventory from the same two suppliers.