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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities:    
Net loss $ (161,278) $ (71,163)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 7,685 7,591
Non-cash interest on 2033 Senior Notes 1,681 3,557
Amortization of deferred financing costs 895 1,807
Losses from investments in investees 2,565 2,426
Equity-based compensation – employees and non-employees 14,090 6,993
(Recovery of) provision for bad debts 626 (68)
Provision for inventory obsolescence 710 583
Revenue from receipt of equity (120) (120)
Realized gain on sale of equity securities (216) (1,274)
(Gain) loss on conversion of 3.00% convertible senior notes 291 (2,668)
Change in fair value of derivative instruments 66,344 (594)
In-process research and development 0 10,055
Change in fair value of contingent consideration 4,836 4,486
Changes in assets and liabilities, net of the effects of acquisitions:    
Accounts receivable (4,812) (4,321)
Inventory (3,257) (1,413)
Prepaid expenses and other current assets 1,142 3,466
Other assets (512) 3,911
Accounts payable 7,101 (3,308)
Foreign currency measurement 300 (824)
Deferred revenue 263,926 (846)
Accrued expenses and other liabilities 2,741 (2,817)
Net cash provided by (used in) operating activities 204,738 (44,541)
Cash flows from investing activities:    
Investments in investees (2,345) (500)
Proceeds from sale of equity securities 0 1,331
Acquisition of businesses, net of cash (94,674) (1,695)
Capital expenditures (1,439) (2,467)
Net cash used in investing activities (98,458) (3,331)
Cash flows from financing activities:    
Proceeds from the exercise of Common Stock options and warrants 17,366 2,747
Cash from non-controlling interest 100 0
Contingent consideration payments 0 (6,435)
Borrowings on lines of credit 11,038 14,258
Repayments of lines of credit (10,022) (14,571)
Net cash provided by financing activities 18,482 (4,001)
Effect of exchange rate on cash and cash equivalents (452) 85
Net increase (decrease) in cash and cash equivalents 124,310 (51,788)
Cash and cash equivalents at beginning of period 96,907 [1] 185,798
Cash and cash equivalents at end of period 221,217 [1] 134,010
SUPPLEMENTAL INFORMATION:    
Interest paid 1,724 2,771
Income taxes paid, net 757 796
Pharmsynthez common stock received 0 6,264
Non-cash financing:    
Common Stock options and warrants, surrendered in net exercise 14,239 3,493
OPKO Health Europe    
Issuance of Common Stock to acquire:    
OPKO Uruguay Ltda. 1,813 0
OPKO Uruguay Ltda.    
Issuance of Common Stock to acquire:    
OPKO Uruguay Ltda. 0 159
Inspiro    
Issuance of Common Stock to acquire:    
OPKO Uruguay Ltda. 0 8,566
EirGen Pharma Ltd    
Issuance of Common Stock to acquire:    
OPKO Uruguay Ltda. 33,569 0
Conversion of Senior Notes    
Non-cash financing:    
2033 Senior Notes $ 92,172 $ 95,665
[1] As of June 30, 2015 and December 31, 2014, total assets include $7.1 million and $7.6 million, respectively, and total liabilities include $12.7 million and $12.1 million, respectively, related to SciVac Ltd (“SciVac”), now known as SciVac Therapeutics, Inc., a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and SciVac’s consolidated liabilities have no recourse against us. Refer to Note 5.