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Development, Commercialization and Supply Agreements (Tables)
12 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Product Approval

The Company received approval of VASCEPA under the MARINE and REDUCE-IT indications in the following countries:

 

Country

 

MARINE

 

REDUCE-IT

 

Launch Date

Lebanon

 

March 2018

 

August 2021

 

June 2018

United Arab Emirates

 

July 2018

 

October 2021

 

February 2019

Qatar

 

December 2019

 

April 2021

 

N/A

Bahrain

 

April 2021

 

April 2022

 

N/A

Kuwait

 

December 2021

 

March 2023

 

September 2023

Saudi Arabia

 

March 2022

 

June 2023

 

September 2023

Changes in Balances of Contract Assets and Liabilities and Revenues Recognized

The following table presents changes in the balances of the Company’s contract assets and liabilities for years ended December 31, 2023 and 2022:

 

In thousands

 

Balance at
Beginning of
Period

 

 

Additions

 

 

Deductions

 

 

Balance at
End of Period

 

Year ended December 31, 2023:

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets

 

$

 

 

$

 

 

$

 

 

$

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

15,346

 

 

$

8,090

 

 

$

(18,586

)

 

$

4,850

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 2022:

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets

 

$

 

 

$

 

 

$

 

 

$

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

16,709

 

 

$

6

 

 

$

(1,369

)

 

$

15,346

 

 

During the years ended December 31, 2023 and 2022, the Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods:

 

In thousands

 

Twelve Months Ended December 31,

 

Revenue recognized in the period from:

 

2023

 

 

2022

 

Amounts included in contract liability at the beginning of the period

 

$

1,892

 

 

$

1,366

 

Performance obligations satisfied in previous periods

 

$

16,182

 

 

$

2