REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)

6 Months Ended

Jun. 30, 2019

REVENUE RECOGNITION AND RELATED ALLOWANCES

Schedule of disaggregation of revenue and revenue recognized

The following table depicts the disaggregation of revenue according to contract type:

	Three Months Ended				Six Months Ended
Products and Services	June 30,		June 30,		June 30,		June 30,
(in thousands)	2019		2018		2019		2018
Sales of generic pharmaceutical products	$	36,255	$	30,202	$	67,854	$	53,429
Sales of branded pharmaceutical products		13,996		10,530		31,539		27,125
Sales of contract manufactured products		3,687		1,679		6,124		2,624
Royalties from licensing agreements		(251)		4,769		326		10,151
Product development services		411		—		731		—
Other(1)		259		88		670		422
Total net revenues	$	54,357	$	47,268	$	107,244	$	93,751

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

The following table depicts revenue recognized during the following periods:

	Three Months Ended				Six Months Ended
	June 30,		June 30,		June 30,		June 30,
Timing of Revenue Recognition	2019		2018		2019		2018
Performance obligations transferred at a point in time	$	53,946	$	47,268	$	106,513	$	93,751
Performance obligations transferred over time		411		—		731		—
Total	$	54,357	$	47,268	$	107,244	$	93,751

Schedule of accruals and allowances

The following table summarizes activity in the consolidated balance sheets for accruals and allowances for the six months ended June 30, 2019 and 2018, respectively:

	Accruals for Chargebacks, Rebates, Returns, and Other Allowances
							Administrative		Prompt
			Government				Fees and Other		Payment
(in thousands)	Chargebacks		Rebates		Returns		Rebates		Discounts
Balance at December 31, 2017	$	28,230	$	7,930	$	8,274	$	5,226	$	1,834
Accruals/Adjustments		104,331		4,199		6,227		14,855		4,157
Credits Taken Against Reserve		(82,145)		(6,873)		(4,737)		(13,365)		(3,859)
Balance at June 30, 2018	$	50,416	$	5,256	$	9,764	$	6,716	$	2,132
Balance at December 31, 2018	$	39,007	$	8,974	$	12,552	$	7,353	$	2,009
Accruals/Adjustments		120,706		7,650		8,248		17,123		5,174
Credits Taken Against Reserve		(122,344)		(5,681)		(6,144)		(14,971)		(4,909)
Balance at June 30, 2019	$	37,369	$	10,943	$	14,656	$	7,505	$	2,274