INVENTORIES

At September 30, 2015 and December 31, 2014, inventories, net consisted of the following (in thousands):



	September 30, 2015		December 31, 2014
Raw materials	$	11,898	$	11,461
Work-in-process	17,878		18,147
Finished goods	28,431		27,024
Total	$	58,207	$	56,632

Short-term portion	$	53,391	$	50,676
Long-term portion	$	4,816	$	5,956

During the nine months ended September 30, 2014, amortization expense was approximately $4.7 million related to the fair value step-up of inventory acquired from eBioscience. The inventory fair value step-up was fully amortized as of June 30, 2014.