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SEGMENT REPORTING (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of financial information by reportable segments | Financial information by reportable segment is as follows:
|  | Year Ended December 31, 2024
|  | Generics and Other |  | Rare Disease and Brands |  | Corporate and Unallocated |  | Total
Net Revenues |  | $ | 320,034 |  | $ | 294,342 |  | $ | — |  |  | $ | 614,376 |
Cost of sales (excluding depreciation and amortization) |  | (168,371) |  |  | (81,839) |  |  | — |  |  | (250,210) |
Research and Development |  | (30,519) |  |  | (14,062) |  |  | — |  |  | (44,581) |
Selling, general, and administrative |  | (5,120) |  |  | (125,972) |  |  | (118,544) |  |  | (249,636) |
Depreciation and amortization |  | — |  |  | — |  |  | (67,731) |  |  | (67,731) |
Fair value adjustment |  | — |  |  | — |  |  | 619 |  |  | 619 |
Gain on sale of building |  | — |  |  | — |  |  | 5,347 |  |  | 5,347 |
Intangible asset impairment charge |  | — |  |  | — |  |  | (7,600) |  |  | (7,600) |
Operating Income (Loss) |  | $ | 116,024 |  | $ | 72,469 |  | $ | (187,909) |  |  | $ | 584 |
Unrealized gain on investment in equity securities |  | $ | — |  | $ | — |  | $ | 6,307 |  |  | 6,307 |
Interest expense, net |  | — |  |  | — |  |  | (17,602) |  |  | (17,602) |
Other expense, net |  | — |  |  | — |  |  | (4,033) |  |  | (4,033) |
Loss on extinguishment of debt |  | — |  |  | — |  |  | (7,468) |  |  | (7,468) |
Income (Loss) Before Expense (Benefit) for Income Taxes |  | $ | 116,024 |  | $ | 72,469 |  | $ | (210,705) |  |  | $ | (22,212) |
|  | Year Ended December 31, 2023
|  | Generics and Other |  | Rare Disease and Brands |  | Corporate and Unallocated |  | Total
Net Revenues |  | $ | 289,314 |  | $ | 197,502 |  | $ | — |  |  | $ | 486,816 |
Cost of sales (excluding depreciation and amortization) |  | (152,739) |  |  | (28,774) |  |  | — |  |  | (181,513) |
Research and Development |  | (28,197) |  |  | (6,089) |  |  | — |  |  | (34,286) |
Selling, general, and administrative |  | (2,451) |  |  | (73,466) |  |  | (85,780) |  |  | (161,697) |
Depreciation and amortization |  | — |  |  | — |  |  | (59,791) |  |  | (59,791) |
Fair value adjustment |  | — |  |  | — |  |  | (1,426) |  |  | (1,426) |
Restructuring activities |  | — |  |  | — |  |  | (1,132) |  |  | (1,132) |
Operating Income (Loss) |  | $ | 105,927 |  | $ | 89,173 |  | $ | (148,129) |  |  | $ | 46,971 |
Interest expense, net |  | — |  |  | — |  |  | (26,940) |  |  | (26,940) |
Other expense, net |  | — |  |  | — |  |  | (159) |  |  | (159) |
Income (Loss) Before Expense for Income Taxes |  | $ | 105,927 |  | $ | 89,173 |  | $ | (175,228) |  |  | $ | 19,872 |
|  | Year Ended December 31, 2022
|  | Generics and Other |  | Rare Disease and Brands |  | Corporate and Unallocated |  | Total
Net Revenues |  | $ | 235,237 |  | $ | 81,148 |  | $ | — |  |  | $ | 316,385 |
Cost of sales (excluding depreciation and amortization) |  | (125,835) |  |  | (12,950) |  |  | — |  |  | (138,785) |
Research and Development |  | (19,964) |  |  | (2,354) |  |  | — |  |  | (22,318) |
Selling, general, and administrative |  | (3,963) |  |  | (55,306) |  |  | (64,775) |  |  | (124,044) |
Depreciation and amortization |  | — |  |  | — |  |  | (56,972) |  |  | (56,972) |
Fair value adjustment |  | — |  |  | — |  |  | (3,758) |  |  | (3,758) |
Restructuring activities |  | — |  |  | — |  |  | (5,679) |  |  | (5,679) |
Intangible asset impairment charge |  | — |  | — |  | (112) |  |  | (112) |
Operating Income (Loss) |  | $ | 85,475 |  | $ | 10,538 |  | $ | (131,296) |  | $ | (35,283)
Interest expense, net |  | — |  |  | — |  |  | (28,052) |  |  | (28,052) |
Other income, net |  | — |  |  | — |  |  | 670 |  |  | 670 |
Income (Loss) Before Benefit for Income Taxes |  | $ | 85,475 |  | $ | 10,538 |  | $ | (158,678) |  |  | $ | (62,665) |
Schedule of revenue by geographic operations | The following table depicts the Company’s revenue by geographic operations during the following periods:
(in thousands) | Years Ended December 31,
Location of Operations | 2024 |  | 2023 |  | 2022
United States | $ | 604,989 |  | $ | 486,251 |  | $ | 312,427
International | 9,387 |  | 565 |  | 3,958
Total Revenue | $ | 614,376 |  | $ | 486,816 |  | $ | 316,385
Schedule of property, plant and equipment, net by geographic location |
(in thousands) | December 31, 2024 |  | December 31, 2023
United States | $ | 54,730 |  | $ | 43,163
International | 2,133 |  | 1,430
Total property and equipment, net | $ | 56,863 |  | $ | 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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