Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

The following table presents the major classes of assets and liabilities at December 31, 2017 related to the infectious disease business which were reclassified as held for sale:

	December 31,
	2017
	(In thousands)
Assets:
Accounts receivable, net	$	9,595
Inventory	41,412
Other receivables	2,740
Intangibles, net	282,398
Goodwill	55,057
Total assets held for sale	$	391,202
Liabilities:
Accounts payable	$	1,127
Accrued expenses	22,945
Contingent purchase price	35,785
Deferred revenue	723
Total liabilities held for sale	$	60,580

The significant cash flow items from discontinued operations for the six months ended June 30, 2018 and 2017 were as follows:

	Six months ended June 30,
	2018			2017
	(In thousands)
Amortization from discontinued operations	$	—		$	3,966
Changes in contingent purchase price	—			7,416
Gain on sale of business	(168,955		)	—
Reserve for excess or obsolete inventory	—			(435		)
Proceeds from sale of business	166,383			—
Payments on contingent purchase price	—			(22,002		)

The following table presents key financial results of the infectious disease business included in “Income (loss) from discontinued operations, net of tax” for the three and six months ended June 30, 2018 and 2017.

	Three Months Ended June 30,						Six Months Ended June 30,
	2018			2017			2018			2017
	(In thousands)
Net product revenues	$	(81	)	$	7,881		$	(107	)	$	14,632
Operating expenses:
Cost of revenue	(17		)	3,792			197			7,367
Research and development	98			9,822			510			21,805
Selling, general and administrative	(19		)	21,242			3,077			43,967
Total operating expenses	62			34,856			3,784			73,139
Loss from operations	(143		)	(26,975		)	(3,891		)	(58,507		)
Gain from sale of business	—			—			168,955			—
Other income (expense), net	484			(248		)	410			(368		)
Income (loss) from discontinued operations before income taxes	341			(27,223		)	165,474			(58,875		)
Provision for (benefit from) income taxes	85			(20		)	51,233			2
Income (loss) from discontinued operations, net of tax	$	256		$	(27,203	)	$	114,241		$	(58,877	)