Acquisitions (Tables)

3 Months Ended

Mar. 31, 2022

Acquisitions

Schedule of consideration paid for acquisition

The total consideration paid for the BDSI acquisition was approximately $669.4 million consisting of the following (in thousands, except per share amounts):

Fair Value of Purchase Price Consideration	Amount
Fair value of purchase price consideration paid at closing:
Cash consideration for all outstanding shares of BDSI's common and preferred stock (103,235,298 shares acquired at $5.60 per share)	$	578,118
Cash consideration paid to settle RSUs and in-the-money options		28,309
Cash paid to settle BDSI debt		63,004
Total purchase consideration	$	669,431

Schedule of preliminary allocation of acquisition purchase price

The following tables set forth the preliminary allocation of the BDSI Acquisition purchase price to the estimated fair value of the net assets acquired at the Acquisition Date (in thousands):

	Amounts Recognized at the Acquisition Date
Assets Acquired
Cash and cash equivalents	$	97,362
Accounts receivable		55,495
Inventory		63,082
Prepaid expenses and other current assets		5,237
Property and equipment		1,242
Operating lease assets		481
Intangible assets		445,000
Total assets	$	667,899
Liabilities Assumed
Accounts payable	$	12
Accrued expenses		18,617
Accrued rebates, returns and discounts		52,345
Operating lease liabilities		481
Deferred tax liabilities		58,525
Total liabilities	$	129,980
Total identifiable net assets acquired		537,919
Goodwill		131,512
Total consideration transferred	$	669,431

Schedule of Unaudited Pro Forma Summary of Operations

The following table shows the unaudited pro forma summary of operations for the three months ended March 31, 2022 and 2021, as if the BDSI Acquisition had occurred on January 1, 2021. This pro forma information does not purport to represent what the Company’s actual results would have been if the acquisition had occurred as of January 1, 2021, and is not indicative of what such results would be expected for any future period (in thousands, except per share amounts):

	Three Months Ended March 31,
		2022		2021
Total revenues	$	117,018	$	128,741
Net loss	$	(18,319)	$	(39,010)

Schedule of acquisition related expenses

	Three Months Ended March 31, 2022
Transaction costs	$	14,557
Employee-related expenses		6,619
BDSI directors and officers insurance		4,492
Other acquisition expenses		1,499
Total acquisition related expenses	$	27,167