| Schedule of Revenues Disaggregated by Category |
Revenues disaggregated by category were as follows (in thousands):
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Year Ended December 31, |
|
2025 |
|
2024 |
|
2023 |
| Product sales: |
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|
|
|
| Gross product sales |
$ |
309,961 |
|
|
$ |
209,924 |
|
|
$ |
147,058 |
|
| Discounts and allowances |
(77,978) |
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|
(65,022) |
|
|
(42,764) |
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| Total product sales, net |
231,983 |
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|
144,902 |
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|
104,294 |
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| Revenues from collaborations: |
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|
|
| Release of cost share liability |
39,981 |
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|
— |
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|
— |
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| License revenue |
— |
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|
14,000 |
|
|
— |
|
| Milestone revenue |
3,000 |
|
|
— |
|
|
75 |
|
| Delivery of drug supplies, royalty and others |
19,053 |
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|
20,376 |
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|
11,413 |
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| Total revenues from collaborations |
62,034 |
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|
34,376 |
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|
11,488 |
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| Government contracts |
265 |
|
|
— |
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|
1,100 |
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| Total revenues |
$ |
294,282 |
|
|
$ |
179,278 |
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|
$ |
116,882 |
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| Schedule of Product Revenue Allowance and Reserve Categories |
The following tables summarize the activities in chargebacks, discounts and fees, government and other rebates and returns that were accounted for revenue reserves and refund liability, for each of the periods presented (in thousands):
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Chargebacks,
Discounts and
Fees |
|
Government
and Other
Rebates |
|
Returns |
|
Total |
| Balance as of January 1, 2025 |
$ |
13,374 |
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|
$ |
8,343 |
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|
$ |
4,723 |
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|
$ |
26,440 |
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| Provision related to current period sales |
55,327 |
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|
19,032 |
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|
2,530 |
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|
76,889 |
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| Adjustment related to prior period sales |
(758) |
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|
(3,084) |
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|
(1,696) |
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|
(5,538) |
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| Credit or payments made during the period |
(55,424) |
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|
(13,902) |
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|
(749) |
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|
(70,075) |
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| Balance as of December 31, 2025 |
$ |
12,519 |
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|
$ |
10,389 |
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|
$ |
4,808 |
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$ |
27,716 |
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Chargebacks,
Discounts and
Fees |
|
Government
and Other
Rebates |
|
Returns |
|
Total |
| Balance as of January 1, 2024 |
$ |
8,236 |
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|
$ |
3,517 |
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|
$ |
3,931 |
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$ |
15,684 |
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| Provision related to current period sales |
49,071 |
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|
13,586 |
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|
1,315 |
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|
63,972 |
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| Credit or payments made during the period |
(43,933) |
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|
(8,760) |
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|
(523) |
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|
(53,216) |
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| Balance as of December 31, 2024 |
$ |
13,374 |
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|
$ |
8,343 |
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|
$ |
4,723 |
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$ |
26,440 |
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| Schedule of Customer Revenues (as a Percentage of Gross Revenues) |
The following table summarizes revenues from each of our customers who individually accounted for 10% or more of the total net product sales and revenues from collaborations:
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Year Ended December 31, |
|
2025 |
|
2024 |
|
2023 |
| McKesson Corporation |
42 |
% |
|
45 |
% |
|
43 |
% |
| Cencora Inc. |
19 |
% |
|
20 |
% |
|
21 |
% |
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| Cardinal Health, Inc. |
* |
|
13 |
% |
|
25 |
% |
| Lilly |
14 |
% |
|
— |
% |
|
— |
% |
| Kissei |
* |
|
11 |
% |
|
* |
______________________________
*Denotes less than 10%
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