2. INVENTORIES


(In thousands of U.S. dollars)	September 30, 2011			December 31, 2010

Raw materials and supplies	$	56		$	74
Work-in-process		26,653			28,045
Finished goods		416			274
Provision for excess inventory		(11,085	)		(11,077	)
Provision for non-completion of inventory		(2,185	)		(2,185	)

	$	13,855		$	15,131
Long-term inventory, net of provisions		(11,174	)		(11,807	)

Current inventory	$	2,681		$	3,324

We review our inventory quantities against our forecast of future demand and market conditions and, if necessary, provide a reserve for potential excess or obsolete inventory. Our provision for excess inventory of $11.1 million as of September 30, 2011, which was applied against our long-term inventory, has been determined based on our forecast of future Visudyne demand.

We record a provision for non-completion of inventory to provide for the potential failure of inventory batches in production to pass quality inspection. During the three and nine months ended September 30, 2011, there were no charges against the provision for non-completion of product inventory.

We classify inventories that we do not expect to convert or consume in the next year as non-current based upon an analysis of market conditions such as sales trends, sales forecasts, sales price, and other factors. See Note 4 — Long-Term Inventories and Other Assets.