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Revenue
 6 Months Ended
Jun. 30, 2023
Revenue  
Revenue

2.        Revenue

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

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Three Months Ended

​

Six Months Ended

​

​

June 30, 

​

June 30, 

(in thousands)

    

2023

​

2022

​

2023

    

2022

Products

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​

​

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​

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​

​

UDENYCA

​

$

31,729

​

$

60,118

​

$

57,908

​

$

120,187

CIMERLI

​

​

26,728

​

​

—

​

​

32,902

​

​

—

Total net product revenue

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​

58,457

​

​

60,118

​

​

90,810

​

​

120,187

Other

​

 

259

​

 

33

​

 

342

​

 

79

Total net revenue

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$

58,716

​

$

60,151

​

$

91,152

​

$

120,266

​

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

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Three Months Ended

​

Six Months Ended

 

​

​

​

June 30, 

​

June 30, 

​

​

​

2023

 

​

2022

​

​

2023

 

​

2022

 

​

McKesson Corporation

 

34

%

​

36

%

​

34

%

​

37

%

​

AmeriSource-Bergen Corporation

 

50

%

​

46

%

​

47

%

​

45

%

​

Cardinal Health, Inc.

 

14

%

​

17

%

​

17

%

​

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:

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Six Months Ended June 30, 2023

​

    

Chargebacks

    

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Other Fees,

    

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​

​

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and Discounts

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​

​

Co-pay

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​

​

​

​

for Prompt

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​

Assistance

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(in thousands)

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Payment

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Rebates

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and Returns

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Total

Balances at December 31, 2022

​

$

42,677

​

$

38,713

​

$

19,113

​

$

100,503

Provision related to sales made in:

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​

​

​

​

​

​

​

​

​

​

Current period

​

​

226,074

​

​

45,009

​

​

37,936

​

​

309,019

Prior period - increase (decrease)

​

​

(1,380)

​

​

1,059

​

​

3,830

​

​

3,509

Payments and customer credits issued

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(217,014)

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​

(27,332)

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​

(34,118)

​

​

(278,464)

Balances at June 30, 2023

​

$

50,357

​

$

57,449

​

$

26,761

​

$

134,567

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​

​

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​

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Six Months Ended June 30, 2022

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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

​

 

220,178

​

​

38,075

​

​

39,353

​

​

297,606

Prior period - increase (decrease)

​

​

(2,147)

​

​

(3,165)

​

​

(556)

​

​

(5,868)

Payments and customer credits issued

​

 

(216,130)

​

 

(44,816)

​

 

(44,402)

​

 

(305,348)

Balances at June 30, 2022

​

$

31,566

​

$

44,098

​

$

20,449

​

$

96,113

​

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.