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Note 6 - Segment Reporting
 9 Months Ended
Sep. 30, 2014
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
6.  Segment Reporting

The Company’s business is the development, manufacture, and marketing of pharmaceutical products. On April 30, 2014, the Company established AFP and as a result, during the quarter ended September 30, 2014, the Company changed the structure of its reportable segments, establishing two reporting segments that each report to the Chief Operating Decision Maker, or CODM, as defined in ASC Topic 280, Segment Reporting.  The Company’s performance will be assessed and resources will be allocated by the CODM based on the following two reportable segments:

-  
Finished pharmaceutical products

-  
Active pharmaceutical ingredients, or API

The finished pharmaceutical products segment manufactures, markets and distributes enoxaparin, Cortrosyn®, naloxone, lidocaine jelly, as well as, various other critical and non-critical care drugs.  The API segment manufactures and distributes recombinant human insulin and porcine insulin.

Selected financial information by reporting segment is presented below:

   
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
   
2014
   
2013
   
2014
   
2013
 
   
(in thousands)
 
Net revenues:
                       
  Finished pharmaceutical products
  $
53,729
    $ 59,318     $ 148,500     $ 174,805  
  API
    5,982       —       6,084       —  
Total net revenues
   
59,711
      59,318       154,584       174,805  
                                 
Gross Profit:
                               
  Finished pharmaceutical products
   
12,122
      20,280      
39,592
      67,327  
  API
    (331 )     —       (296 )     —  
Total gross profit
    11,791       20,280       39,296       67,327  
                                 
Operating expenses
    19,608       20,054       50,255       52,767  
                                 
Income (loss) from operations
    (7,817 )     226       (10,959 )     14,560  
Non-operating income (expenses)
    (167 )     109       (1,372 )     (115 )
                                 
Income (loss) before income taxes
  $ (7,984 )   $ 335     $ (12,331 )   $ 14,445  

The Company manages its business segments to the gross profit level and manages its operating and other costs on a company-wide basis.  The Company does not identify total assets by segment for internal purposes, as the Company’s CODM does not assess performance, make strategic decisions, or allocate resources based on assets.

Net revenues and carrying values of long-lived assets of enterprises by geographic regions are as follows:

 
Net Revenue
 
Net Revenue
 
Long-Lived Assets
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
September 30,
 
December 31,
 
 
2014
 
2013
 
2014
 
2013
 
2014
 
2013
 
 
(in thousands)
 
U.S.
  $
53,729
    $ 59,318     $ 148,500     $ 174,805     $ 98,744     $ 99,398  
China
    —       —       —       —       21,011       17,221  
France
    5,982       —       6,084       —       14,357       —  
Total
  $
59,711
    $ 59,318     $ 154,584     $ 174,805     $ 134,112     $ 116,619