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SEGMENT REPORTING (Tables) | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Schedule of financial information by reportable segments | Financial information by reportable segment is as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Net Revenues |  |  |  |  |  |  |
Generics, Established Brands, and Other | $ | 88,847 |  |  | $ | 92,243 |  |  | $ | 189,340 |  |  | $ | 182,699 |
Rare Disease | 49,193 |  |  | 24,304 |  |  | 86,130 |  |  | 40,634 |
Total net revenues | $ | 138,040 |  |  | $ | 116,547 |  |  | $ | 275,470 |  |  | $ | 223,333 |
Segment earnings before interest, taxes, depreciation and amortization (“EBITDA”) and reconciliation to income before income taxes |  |  |  |  |  |  |
Generics, Established Brands, and Other | $ | 31,631 |  |  | $ | 39,937 |  |  | $ | 76,937 |  |  | $ | 78,765 |
Rare Disease | 4,344 |  |  | 4,215 |  |  | 4,740 |  |  | 2,964 |
Depreciation and amortization | (14,697) |  |  | (14,690) |  |  | (29,383) |  |  | (29,390) |
Corporate and other unallocated expenses(1) | (16,109) |  |  | (17,060) |  |  | (26,813) |  |  | (30,042) |
Total operating income | 5,169 |  |  | 12,402 |  |  | 25,481 |  |  | 22,297 |
Unrealized (loss) gain on investment in equity securities | (2,712) |  |  | — |  |  | 6,943 |  |  | — |
Interest expense, net | (4,656) |  |  | (7,100) |  |  | (9,256) |  |  | (14,796) |
Other expense, net | (88) |  |  | (53) |  |  | (120) |  |  | (87) |
(Loss) Income Before Income Tax Expense (Benefit) | $ | (2,287) |  |  | $ | 5,249 |  |  | $ | 23,048 |  |  | $ | 7,414 |
______________________________________________ (1)Includes expenses not directly allocated or attributable to a reporting segment, including certain management, legal, accounting, human resources, insurance, and information technology expenses, and are included in selling, general, and administrative expenses in our unaudited interim consolidated statement of operations. This amount also includes the gain on the sale of the Oakville, Ontario site of approximately $5.3 million refer to Note 4 for further information.
Schedule of revenue by geographic operations | The following table depicts the Company’s revenue by geographic operations during the following periods:
(in thousands) | Three Months Ended June 30, |  | Six Months Ended June 30,
Location of Operations | 2024 |  | 2023 |  | 2024 |  | 2023
United States | $ | 138,040 |  |  | $ | 116,547 |  |  | $ | 275,470 |  |  | $ | 222,768 |
Canada | — |  |  | — |  |  | — |  |  | 565 |
Total Revenue | $ | 138,040 |  |  | $ | 116,547 |  |  | $ | 275,470 |  |  | $ | 223,333 |
Schedule of property, plant and equipment, net by geographic location | The Company’s property, plant and equipment are as follows:
(in thousands) | June 30, 2024 |  | December 31, 2023
United States | $ | 49,887 |  |  | $ | 43,163 |
India | 1,753 |  |  | 1,430 |
Total property and equipment, net | $ | 51,640 |  |  | $ | 44,593 |

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- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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