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REVENUE RECOGNITION AND RELATED ALLOWANCES (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of disaggregation of revenue and revenue recognized | All revenue recognized in the accompanying unaudited interim condensed consolidated statements of operations is considered to be revenue from contracts with customers. The following table depicts the disaggregation of revenue:
|  | Three Months Ended
Products and Services |  | March 31, 2024 |  | March 31, 2023
(in thousands) |  |
Sales of generic pharmaceutical products |  | $ | 70,217 |  |  | $ | 63,713 |
Sales of established brand pharmaceutical products, royalties, and other pharmaceutical services |  | 30,276 |  |  | 26,743 |
Sales of rare disease pharmaceutical products |  | 36,937 |  |  | 16,330 |
Total net revenues |  | $ | 137,430 |  |  | $ | 106,786 |
|  | Three Months Ended
Timing of Revenue Recognition |  | March 31, 2024 |  | March 31, 2023
(in thousands) |  |
Performance obligations transferred at a point in time |  | $ | 137,430 |  |  | $ | 106,411 |
Performance obligations transferred over time |  | — |  |  | 375 |
Total |  | $ | 137,430 |  |  | $ | 106,786 |
Schedule of accruals and allowances | The following table summarizes activity in the condensed consolidated balance sheets for accruals and allowances for the three months ended March 31, 2024 and 2023, respectively:
| Accruals for Chargebacks, Returns, and Other Allowances
(in thousands) | Chargebacks |  | Government Rebates |  | Returns |  | Administrative Fees and Other Rebates |  | Prompt Payment Discounts
Balance at December 31, 2022 | $ | 148,562 |  |  | $ | 10,872 |  |  | $ | 33,399 |  |  | $ | 9,442 |  |  | $ | 6,488 |
Accruals/Adjustments | 146,113 |  |  | 4,461 |  |  | 4,640 |  |  | 12,026 |  |  | 5,483 |
Credits Taken Against Reserve | (193,859) |  |  | (6,726) |  |  | (3,931) |  |  | (12,018) |  |  | (6,538) |
Balance at March 31, 2023 (1) | $ | 100,816 |  |  | $ | 8,607 |  |  | $ | 34,108 |  |  | $ | 9,450 |  |  | $ | 5,433 |
Balance at December 31, 2023 | $ | 84,208 |  |  | $ | 12,168 |  |  | $ | 29,678 |  |  | $ | 11,412 |  |  | $ | 4,865 |
Accruals/Adjustments | 131,097 |  |  | 5,952 |  |  | 12,521 |  |  | 14,811 |  |  | 5,635 |
Credits Taken Against Reserve | (137,779) |  |  | (8,611) |  |  | (9,346) |  |  | (13,085) |  |  | (5,641) |
Balance at March 31, 2024 (1) | $ | 77,526 |  |  | $ | 9,509 |  |  | $ | 32,853 |  |  | $ | 13,138 |  |  | $ | 4,859 |
______________________________________________ (1)Chargebacks and Prompt Payment Discounts are included as an offset to accounts receivable in the unaudited interim condensed consolidated balance sheets. Administrative Fees and Other Rebates are included as an offset to accounts receivable or as accrued expenses and other in the unaudited interim condensed consolidated balance sheets. Returns are included in returned goods reserve in the unaudited interim condensed consolidated balance sheets. Government Rebates are included in accrued government rebates in the unaudited interim condensed consolidated balance sheets.
Schedule of customer concentration | The four customers represent the total percentage of net revenues as follows:
| Three Months Ended
| March 31, 2024 |  | March 31, 2023
Customer 1 | 34 | % |  | 33 | %
Customer 2 | 13 | % |  | 15 | %
Customer 3 | 10 | % |  | 14 | %
Customer 4 | 13 | % |  | 7 | %

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