Sale of Zohydro ER business (Tables)

12 Months Ended

Dec. 31, 2015

Zohydro ER [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Schedule of Net Assets and Calculation of the Gain on Sale

The following summarizes the gain on sale (in thousands):

Consideration received	$	93,965
Carrying value of assets transferred to Ferrimill	(2,515		)
Transaction costs	(1,966		)
Net gain on sale of business before income tax	89,484
Income tax expense (see Note 15)	(14,060		)
Net gain on sale of business	$	75,424

The following table summarizes the results of discontinued operations for the periods presented in the consolidated statements of operations for the years ended December 31, 2015, 2014 and 2013 (in thousands):

Discontinued operations	2015			2014			2013
Net product revenue	$	11,299		$	11,584		$	—
Operating (income) expense:
Cost of product sold	2,205			10,554			—
Royalty expense	835			1,127			—
Research and development	5,504			7,043			4,433
Selling, general and administrative	14,820			54,260			3,822
Restructuring expense	588			—			—
Gain on sale of business	(89,484		)	—			—
Total operating (income) expense	(65,532		)	72,984			8,255
Other income	5,077			8,500			—
Net income (loss) from discontinued operations before tax	81,908			(52,900		)	(8,255		)
Income tax expense	(14,060		)	—			—
Net income (loss) from discontinued operations	$	67,848		$	(52,900	)	$	(8,255	)

Other income for the year ended December 31, 2015 was comprised of consideration received for a waiver of regulatory exclusivity rights of $5.0 million. Other income for the year ended December 31, 2014 was comprised of the of sale of right of reference to certain carcinogenicity data generated by the Company for $3.5 million and consideration received for a waiver of regulatory exclusivity rights of $5.0 million.

The following table summarizes the assets and liabilities of discontinued operations as of December 31, 2015 and 2014 related to the Zohydro ER business (in thousands):

	December 31, 2015		December 31, 2014
Assets
Current assets
Trade accounts receivable	$	4	$	2,799
Inventory	15		1,995
Prepaid expenses and other current assets	189		2,402
Total current assets of discontinued operations	208		7,196
Other assets	—		2,673
Total assets of discontinued operations	$	208	$	9,869
Liabilities
Current liabilities
Accounts payable	$	—	$	3,781
Accrued expenses	2,796		9,470
Accrued compensation	—		1,933
Deferred revenue	110		7,123
Total current liabilities of discontinued operations	2,906		22,307
Total liabilities of discontinued operations	$	2,906	$	22,307