XML 35 R42.htm IDEA: XBRL DOCUMENT v2.4.0.8
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Schedule of Financial Data for Business Segments
The financial data for the two business segments are as follows ($ amounts in thousands):

 
Three months ended
 
Six months ended
 
June 30, 2014
 
June 30, 2013
 
June 30, 2014
 
June 30, 2013
Revenues:
 
 
 
 
 
 
 
Par Pharmaceutical
$
278,834

 
$
215,115

 
$
552,640

 
$
487,917

Strativa
16,571

 
18,554

 
31,849

 
35,948

Total revenues
$
295,405

 
$
233,669

 
$
584,489

 
$
523,865

 
 
 
 
 
 
 
 
Gross margin:
 
 
 
 
 
 
 
Par Pharmaceutical
$
83,884

 
$
46,301

 
$
167,529

 
$
105,996

Strativa
9,625

 
12,599

 
20,295

 
24,348

Total gross margin
$
93,509

 
$
58,900

 
$
187,824

 
$
130,344

 
 
 
 
 
 
 
 
Operating (loss) income:
 
 
 
 
 
 
 
Par Pharmaceutical
$
(8,560
)
 
$
(10,341
)
 
$
(31,571
)
 
$
(817
)
Strativa
(8,967
)
 
2,842

 
(20,111
)
 
1,927

Total operating (loss) income
$
(17,527
)
 
$
(7,499
)
 
$
(51,682
)
 
$
1,110

Interest income
—

 
20

 
14

 
56

Interest expense
(27,499
)
 
(23,612
)
 
(52,966
)
 
(47,648
)
Loss on debt extinguishment
—

 
—

 
(3,989
)
 
(7,335
)
Benefit for income taxes
(18,106
)
 
(9,300
)
 
(42,338
)
 
(17,280
)
Net loss
$
(26,920
)
 
$
(21,791
)
 
$
(66,285
)
 
$
(36,537
)
Schedule of Total Revenues of Top Selling Products
Total revenues of our top selling products were as follows ($ amounts in thousands):

 
Three months ended
 
Six months ended
 
June 30, 2014
 
June 30, 2013
 
June 30, 2014
 
June 30, 2013
Product
 
 
 
 
 
 
 
Par Pharmaceutical
 
 
 
 
 
 
 
Budesonide (Entocort® EC)
$
38,266

 
$
45,027

 
$
75,615

 
$
95,430

Bupropion ER (Wellbutrin XL®)
18,423

 
11,565

 
34,765

 
19,817

Divalproex (Depakote®)
15,511

 
(7,653
)
 
35,917

 
(6,227
)
Propafenone (Rythmol SR®)
15,266

 
17,337

 
36,377

 
34,496

Metoprolol succinate ER (Toprol-XL®)
12,096

 
13,527

 
26,213

 
32,929

Lamotrigine (Lamictal XR®)
10,262

 
10,535

 
20,396

 
30,646

Rizatriptan (Maxalt®)
1,597

 
3,466

 
3,795

 
37,014

Other (1)
$
162,427

 
$
113,115

 
309,137

 
228,838

Other product related revenues (2)
4,986

 
8,196

 
10,425

 
14,974

Total Par Pharmaceutical Revenues
278,834

 
215,115

 
$
552,640

 
$
487,917

 
 
 
 
 
 
 
 
Strativa
 
 
 
 
 
 
 
Megace® ES
$
7,779

 
$
11,018

 
$
15,932

 
$
21,553

Nascobal® Nasal Spray
8,172

 
6,801

 
14,496

 
13,003

Other
$
(35
)
 
$
(236
)
 
$
(46
)
 
$
(479
)
Other product related revenues (2)
655

 
971

 
1,467

 
1,871

Total Strativa Revenues
$
16,571

 
$
18,554

 
$
31,849

 
$
35,948


(1)
The further detailing of revenues of the other approximately 80 generic drugs was not considered significant to the overall disclosure due to the lower volume of revenues associated with each of these generic products. No single product in the other category was significant to total generic revenues for the six-month periods ended June 30, 2014 and 2013.
(2)
Other product related revenues represents licensing and royalty related revenues from profit sharing agreements.