REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables)

6 Months Ended

Jun. 30, 2020

REVENUE RECOGNITION AND RELATED ALLOWANCES

Schedule of disaggregation of revenue and revenue recognized


	Three Months Ended				Six Months Ended
Products and Services	June 30,		June 30,		June 30,		June 30,
(in thousands)	2020		2019		2020		2019
Sales of generic pharmaceutical products	$	33,400	$	36,255	$	70,895	$	67,854
Sales of branded pharmaceutical products		10,633		13,996		19,790		31,539
Sales of contract manufactured products		2,900		3,687		4,874		6,124
Royalties from licensing agreements		491		(251)		781		326
Product development services		885		411		1,462		731
Other⁽¹⁾		161		259		442		670
Total net revenues	$	48,470	$	54,357	$	98,244	$	107,244

⁽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
Timing of Revenue Recognition	June 30,		June 30,		June 30,		June 30,
(in thousands)	2020		2019		2020		2019
Performance obligations transferred at a point in time	$	47,585	$	53,946	$	96,782	$	106,513
Performance obligations transferred over time		885		411		1,462		731
Total	$	48,470	$	54,357	$	98,244	$	107,244

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, 2020 and 2019, respectively:


	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, 2018 (1)	$	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)		(16,971)		(4,909)
Balance at June 30, 2019 (1)	$	37,369	$	10,943	$	14,656	$	7,505	$	2,274

Balance at December 31, 2019 (1)	$	49,882	$	8,901	$	16,595	$	8,281	$	2,549
Accruals/Adjustments		181,986		7,519		14,103		17,392		6,551
Credits Taken Against Reserve		(169,345)		(6,703)		(10,695)		(17,161)		(6,277)
Balance at June 30, 2020 (1)	$	62,523	$	9,717	$	20,003	$	8,512	$	2,823

(1)

Chargebacks are included as an offset to accounts receivable, net of chargebacks and other allowances in the unaudited condensed consolidated balance sheets. Administrative Fees and Other Rebates and Prompt Payment Discounts are included accrued expenses and other in the unaudited condensed consolidated balance sheets. Returns are included in returned goods reserve in the unaudited condensed consolidated balance sheets. Government Rebates are included in accrued government rebates in the unaudited condensed consolidated balance sheets.