XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.23.1

Segment Reporting | 3 Months Ended
--- | ---
Mar. 31, 2023
Segment Reporting |
Segment Reporting | Note 5. Segment Reporting ​ The Company’s business is the development, manufacture, and marketing of pharmaceutical products. The Company has identified two reporting segments that each report to the Chief Operating Decision Maker, or CODM, as defined in ASC 280, Segment Reporting. The Company’s performance is assessed and resources are allocated by the CODM based on the following two reportable segments: ​
| ● | Finished pharmaceutical products
| ● | APIs
​ The finished pharmaceutical products segment manufactures, markets and distributes Primatene MIST®, glucagon, enoxaparin, naloxone, phytonadione, lidocaine, epinephrine, various critical and non-critical care drugs, as well as certain contract manufacturing and contract research revenues. The API segment manufactures and distributes recombinant human insulin API and porcine insulin API for external customers and internal product development. ​ Selected financial information by reporting segment is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (in thousands)
Net revenues: |  | ​ |  |  | ​ |
Finished pharmaceutical products | ​ | $ | 136,010 | ​ | $ | 116,546
API | ​ |  | 4,012 | ​ | ​ | 3,822
Total net revenues | ​ |  | 140,022 | ​ |  | 120,368
​ | ​ | ​ | ​ | ​ | ​ | ​
Gross profit (loss): | ​ | ​ | ​ | ​ | ​ | ​
Finished pharmaceutical products | ​ |  | 76,176 | ​ |  | 56,939
API | ​ |  | (2,336) | ​ | ​ | (1,113)
Total gross profit | ​ |  | 73,840 | ​ |  | 55,826
​ | ​ | ​ | ​ | ​ | ​ | ​
Operating expenses | ​ |  | 40,407 | ​ |  | 34,212
​ | ​ | ​ | ​ | ​ | ​ | ​
Income from operations | ​ |  | 33,433 | ​ |  | 21,614
Non-operating income | ​ |  | 136 | ​ |  | 7,419
​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes | ​ | $ | 33,569 | ​ | $ | 29,033
​ 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. ​ The amount of net revenues in the finished pharmaceutical product segment is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (in thousands)
Finished pharmaceutical products net revenues: |  | ​ |  |  | ​ |
Glucagon | ​ | $ | 25,696 | ​ | $ | 10,984
Primatene MIST® | ​ | ​ | 23,483 | ​ | ​ | 24,697
Epinephrine | ​ | ​ | 20,091 | ​ | ​ | 15,156
Lidocaine | ​ | ​ | 13,646 | ​ | ​ | 10,590
Enoxaparin | ​ | ​ | 9,867 | ​ | ​ | 10,124
Phytonadione | ​ |  | 7,713 | ​ |  | 10,475
Naloxone | ​ | ​ | 4,957 | ​ | ​ | 7,413
Other finished pharmaceutical products | ​ |  | 30,557 | ​ |  | 27,107
Total finished pharmaceutical products net revenues | ​ | $ | 136,010 | ​ | $ | 116,546
​ ​ The amount of depreciation and amortization expense included in cost of revenues, by reporting segment is presented below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended
​ | ​ | March 31,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (in thousands)
Depreciation and amortization expense |  | ​ |  |  | ​ |
Finished pharmaceutical products | ​ | $ | 2,446 | ​ | $ | 1,794
API | ​ |  | 953 | ​ |  | 948
Total depreciation and amortization expense | ​ | $ | 3,399 | ​ | $ | 2,742
​ Net revenues and carrying values of long-lived assets by geographic regions are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Net Revenue | ​ | Long-Lived Assets
​ | ​ | Three Months Ended | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, | ​ | March 31, | ​ | December 31,
​ | ​ | 2023 | ​ | 2022 | ​ | 2023 | ​ | 2022
​ | ​ | (in thousands)
United States |  | $ | 137,958 |  | $ | 117,114 |  | $ | 141,384 |  | $ | 136,328
China | ​ |  | 127 | ​ | ​ | 933 | ​ |  | 89,171 | ​ |  | 88,647
France | ​ |  | 1,937 | ​ | ​ | 2,321 | ​ |  | 39,431 | ​ |  | 39,598
Total | ​ | $ | 140,022 | ​ | $ | 120,368 | ​ | $ | 269,986 | ​ | $ | 264,573
​

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration