XML 58 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2015
Basis of Presentation and Summary of Significant Accounting Policies  
Schedule of customers representing 10% or more of revenues

 

 

 

 

 

 

 

 

 

 

Years Ended

 

 

 

December 31,

 

 

    

2015

    

2014

    

2013

 

AmerisourceBergen Drug Corporation

 

25

%  

34

%  

41

%

Takeda Pharmaceuticals Company Limited

 

12

%  

11

%  

11

%

McKesson Corporation

 

11

%  

21

%  

24

%

Cardinal Health, Inc.

 

<10

%  

15

%  

16

%

 

Schedule of customers representing greater than 10% of accounts receivable balances

 

 

 

 

 

 

 

 

December 31,

 

 

    

2015

    

2014

 

AmerisourceBergen Drug Corporation

 

43

%  

45

%

McKesson Corporation

 

<10

%  

12

%

 

Schedule of property, plant and equipment estimated useful lives

 

 

 

 

 

    

Useful Life

 

Buildings and improvements

 

15 - 40 Years

 

Computer equipment and software

 

5 Years

 

Furniture and fixtures

 

5 Years

 

Leasehold improvements

 

Lesser of Lease or Asset Life

 

Laboratory and production equipment

 

5 Years

 

Land improvements

 

10 Years

 

 

Analysis of U.S. product sales allowances and accruals

Our product revenues were offset by provisions for allowances and accruals as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

    

2015

    

2014

    

2013

 

Gross U.S. product sales

 

$

561,255

 

$

190,512

 

$

120,195

 

Provision for U.S. product sales allowances and accruals:

 

 

 

 

 

 

 

 

 

 

Contractual adjustments

 

 

161,665

 

 

73,262

 

 

48,433

 

Governmental rebates

 

 

57,774

 

 

7,252

 

 

70

 

Total provision for U.S. product sales allowances and accruals

 

 

219,439

 

 

80,514

 

 

48,503

 

U.S. product sales, net

 

$

341,816

 

$

109,998

 

$

71,692

 

 

 

Schedule of components of basic and diluted net income (loss) per share

 

The components of basic and diluted net income (loss) per share for 2015, 2014 and 2013 were as follows (in thousands, except per share data):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

    

2015

    

2014

    

2013

  

Net income (loss) - basic

 

$

32,779

 

$

135,817

 

$

(9,602)

 

Dilutive effect of convertible 2.5% notes

 

 

 —

 

 

1,654

 

 

 —

 

Net income (loss) - diluted

 

$

32,779

 

$

137,471

 

$

(9,602)

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

31,471

 

 

22,416

 

 

21,703

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

Warrants

 

 

2,466

 

 

 —

 

 

 —

 

Stock options and RSUs

 

 

1,371

 

 

520

 

 

 —

 

Convertible 2.5% notes

 

 

 —

 

 

2,289

 

 

 —

 

Shares used in calculating dilutive net income (loss) per share

 

 

35,308

 

 

25,225

 

 

21,703

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.04

 

$

6.06

 

$

(0.44)

 

Diluted

 

$

0.93

 

$

5.45

 

$

(0.44)

 

 

Schedule of anti-dilutive securities excluded from computation of diluted net loss per share

The following table sets forth the potential common shares issuable upon the exercise of outstanding options, the vesting of RSUs, the exercise of warrants (prior to consideration of the treasury stock method), and the conversion of the 2.5% Convertible Notes, which were excluded from our computation of diluted net income (loss) per share because their inclusion would have been anti-dilutive (in thousands):

 

 

 

 

 

 

 

 

 

 

 

Years Ended December 31,

 

 

    

2015

    

2014

    

2013

 

Options to purchase shares of common stock

 

1,619

 

2,708

 

2,820

 

Shares of common stock issuable upon the vesting of RSUs

 

167

 

322

 

465

 

Warrants

 

 —

 

7,382

 

 —

 

Convertible 2.5% notes

 

7,382

 

 —

 

 —

 

Total

 

9,168

 

10,412

 

3,285