ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

12 Months Ended

Dec. 31, 2020

Receivables Net Current [Abstract]

ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

7. ACCOUNTS RECEIVABLE AND RESERVES FOR PRODUCT SALES

The following table summarizes the components of the Company’s accounts receivable for the periods indicated:

	As of December 31,
	2020		2019
	(in thousands)
Product sales receivable, net of discounts and allowances	$	100,870	$	90,409
Government contract receivables		470		470
Total accounts receivable, net	$	101,340	$	90,879

The balance for government contract receivables for both periods presented is subject to government audit and will not be collected until the completion of the audit.

The following table summarizes an analysis of the change in reserves for discounts and allowances for the periods indicated:

	Chargebacks			Rebates			Prompt Pay			Other Accruals			Total
	(in thousands)
Balance, as of December 31, 2018	$	1,378		$	24,276		$	538		$	2,318		$	28,510
Provision		9,698			44,749			4,897			9,643			68,987
Payments/credits		(10,488	)		(24,287	)		(3,929	)		(7,290	)		(45,994	)
Balance, as of December 31, 2019	$	588		$	44,738		$	1,506		$	4,671		$	51,503
Provision		9,700			52,180			6,384			10,175			78,439
Payments/credits		(8,007	)		(55,147	)		(5,941	)		(9,877	)		(78,972	)
Balance, as of December 31, 2020	$	2,281		$	41,771		$	1,949		$	4,969		$	50,970

The following table summarizes the total reserves above included in the Company’s consolidated balance sheets for the periods indicated:

	As of December 31,
	2020		2019
	(in thousands)
Reduction to accounts receivable	$	8,352	$	6,254
Component of accrued expenses		42,618		45,249
Total reserves	$	50,970	$	51,503