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Revenue
 3 Months Ended
Mar. 31, 2023
Revenue  
Revenue

2.        Revenue

The Company initiated sales in the United States of CIMERLI on October 3, 2022. The Company’s net revenue was as follows:

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

​

March 31, 

(in thousands)

    

2023

​

2022

Products

​

​

​

​

​

​

UDENYCA

​

$

26,179

​

$

60,069

CIMERLI

​

​

6,174

​

​

—

Total net product revenue

​

​

32,353

​

​

60,069

Other

​

 

83

​

 

46

Total net revenue

​

$

32,436

​

$

60,115

​

Gross product revenues by significant customer as a percentage of total gross product revenues were as follows:

​

​

​

​

​

​

​

​

    

Three Months Ended

​

​

March 31, 

​

​

2023

 

​

2022

​

McKesson Corporation

 

35

%

​

39

%

AmeriSource-Bergen Corporation

 

43

%

​

43

%

Cardinal Health, Inc.

 

21

%

​

17

%

​

Product Sales Discounts and Allowances

The activities and ending reserve balances for each significant category of discounts and allowances, which constitute variable consideration, were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31, 2023

​

    

Chargebacks

    

​

​

    

Other Fees,

    

​

​

​

​

and Discounts

​

​

​

​

Co-pay

​

​

​

​

​

for Prompt

​

​

​

​

Assistance

​

​

​

(in thousands)

​

Payment

​

Rebates

​

and Returns

​

Total

Balances at December 31, 2022

​

$

42,677

​

$

38,713

​

$

19,113

​

$

100,503

Provision related to sales made in:

​

 

​

​

​

​

​

​

​

​

​

​

Current period

​

​

93,906

​

​

13,000

​

​

14,603

​

​

121,509

Prior period

​

​

(738)

​

​

(701)

​

​

1,829

​

​

390

Payments and customer credits issued

​

 

(101,108)

​

​

(14,243)

​

​

(16,617)

​

​

(131,968)

Balances at March 31, 2023

​

$

34,737

​

$

36,769

​

$

18,928

​

$

90,434

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended March 31, 2022

​

    

Chargebacks

    

​

​

    

Other Fees,

    

​

​

​

​

and Discounts

​

​

​

​

Co-pay

​

​

​

​

​

for Prompt

​

​

​

​

Assistance

​

​

​

(in thousands)

​

Payment

​

Rebates

​

and Returns

​

Total

Balances at December 31, 2021

​

$

29,665

​

$

54,004

​

$

26,054

​

$

109,723

Provision related to sales made in:

​

​

​

​

​

​

​

​

​

​

​

​

Current period

​

 

105,737

​

​

20,269

​

​

20,288

​

​

146,294

Prior period

​

​

(1,081)

​

​

(1,721)

​

​

(344)

​

​

(3,146)

Payments and customer credits issued

​

 

(107,625)

​

 

(24,216)

​

 

(22,440)

​

 

(154,281)

Balances at March 31, 2022

​

$

26,696

​

$

48,336

​

$

23,558

​

$

98,590

​

Chargebacks and discounts for prompt payment are recorded as a reduction in trade receivables, and the remaining reserve balances are classified as current liabilities in the accompanying unaudited condensed consolidated balance sheets.