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Segment Information
3 Months Ended
Mar. 31, 2019
Segment Reporting [Abstract]  
Segment Information Segment Information
 
During the three month period ended March 31, 2019 and 2018, the Company reported results for the following two reportable segments:

-    Prescription Pharmaceuticals
-    Consumer Health

The Company’s Prescription Pharmaceuticals segment principally consists of generic and branded prescription pharmaceuticals products which span a broad range of indications as well as a variety of dosage forms including: sterile ophthalmics, injectables and inhalants, and non-sterile oral liquids, topicals and nasal sprays. The Company’s Consumer Health segment principally consists of animal health and OTC products, both branded and private label. OTC products include, but are not limited to, a suite of products for the treatment of dry eye sold under the TheraTears® brand name.

Financial information about the Company’s reportable segments is based upon internal financial reports that aggregate certain operating information. The Company’s Chief Operating Decision Maker (“CODM”), as defined in ASC 280 - Segment Reporting, who is also the CEO, oversees operational assessments and resource allocations based upon the results of the Company’s reportable segments, which have available and discrete financial information.

Selected financial information by reportable segment is presented below (in thousands):
 
Three Months Ended
March 31,
 
2019
 
2018
Revenues, net:
 
 
 
Prescription Pharmaceuticals
$
148,015

 
$
164,302

Consumer Health
17,856

 
19,761

Total revenues, net
165,871

 
184,063

 
 
 
 
Gross Profit:
 

 
 

Prescription Pharmaceuticals
45,443

 
73,508

Consumer Health
8,070

 
8,720

Total gross profit
53,513

 
82,228

 
 
 
 
Operating expenses
118,996

 
107,643

 
 
 
 
Operating (loss)
(65,483
)
 
(25,415
)
 
 
 
 
Other expenses, net
(15,278
)
 
(10,612
)
 
 
 
 
(Loss) before income taxes
$
(80,761
)
 
$
(36,027
)


The Company manages its business segments to the gross profit level and manages its operating and other costs on a company-wide basis. Inter-segment activity at the gross profit level is minimal. The Company does not have discrete assets by segment, as certain manufacturing and warehouse facilities support more than one segment, and therefore does not report assets by segment. Financial information including revenues and gross profit from external customers by product or product line is not provided as to do so would be impracticable.

The following table sets forth the Company’s net revenues by geographic region for the three month periods ended March 31, 2019 and 2018. The Domestic region represents sales within the United States of America and its territories while the Foreign region represents sales within all other countries and territories (dollar amounts in thousands):
 
 
Three Months Ended
March 31, 2019
 
Three Months Ended
March 31, 2018
Region
Amount
 
% of Total Revenues
 
Amount
 
% of Total Revenues
Domestic
$
164,134

 
99.0%
 
$
181,015

 
98.3%
Foreign
1,737

 
1.0%
 
3,048

 
1.7%
Total Revenues
$
165,871

 
100.0%
 
$
184,063

 
100.0%