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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 27,427 $ 12,202
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes 8,368 0
Depreciation expense 432 296
Amortization of intangible assets 1,423 260
Stock-based compensation 7,890 5,289
Change in fair value of contingent consideration 848 395
Gain on sale of diclofenac-misoprostol 0 (1,750)
Interest expense 66 0
Changes in operating assets and liabilities:    
Increase in accounts receivable (11,036) (25,760)
(Increase) decrease in inventories (848) 8,679
(Increase) decrease in prepaid expenses and other current assets (307) 319
(Increase) decrease in other assets (26) 49
(Decrease) increase in accounts payable (2,568) 7,574
Decrease in deferred revenue 0 (6,000)
Decrease in accrued expenses and other liabilities (6,557) (1,069)
Net cash provided by operating activities 25,112 484
Cash flows from investing activities:    
Purchase of property and equipment (884) (904)
Purchase of short term investments 0 (62,000)
Maturities of short term investments 0 62,000
Payment for business acquisition 0 (4,850)
Proceeds from sale of diclofenac-misoprostol 0 1,750
Net cash used in investing activities (884) (4,004)
Cash flows from financing activities:    
Proceeds from common stock option exercise 4,130 0
Payment of debt financing costs (482) 0
Repurchases of common stock (25,311) 0
Net cash used in financing activities (21,663) 0
Net increase (decrease) in cash 2,565 (3,520)
Cash and cash equivalents at beginning of period 52,820 79,083
Cash and cash equivalents at end of period 55,385 75,563
Cash paid during the period for:    
Income taxes 5,585 0
Non-cash financing activities    
Contingent consideration - business acquisition $ 0 $ 6,370