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Inventory | 6 Months Ended
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Jun. 30, 2026
Inventory Disclosure [Abstract] |
Inventory | 7. INVENTORY Inventory is stated at the lower of cost and net realizable value. Cost is determined using the first-in, first-out method. Inventory consists of the following:
|  | June 30, |  |  | December 31, |
(In thousands) |  | 2026 |  |  | 2025 |
Raw materials |  | $ | 70,109 |  |  | $ | 68,387 |
Work in process |  |  | 109,198 |  |  |  | 90,498 |
Finished goods(1) |  |  | 119,650 |  |  |  | 37,740 |
Total inventory |  | $ | 298,957 |  |  | $ | 196,625 |
(1) At June 30, 2026 and December 31, 2025, the Company had $50.7 million and $31.7 million, respectively, of finished goods inventory located at its third-party warehouse and shipping service provider. In connection with the Avadel Acquisition, the Company recorded a fair value step-up adjustment to inventory of $121.6 million, consisting of approximately $19.1 million and $102.5 million in work in process and finished goods, respectively. The inventory step-up is being amortized when inventory is sold to customers, substantially all of which is expected to be within a year of the Closing Date. During the three and six months ended June 30, 2026, the Company amortized $31.0 million and $43.7 million, respectively, in inventory step-up within “Cost of goods manufactured and sold” in the accompanying condensed consolidated statement of operations and comprehensive (loss) income.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/330/tableOfContent + Details
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