2021 Q4 Form 10-K Financial Statement

#000102302422000004 Filed on March 15, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $60.93M $216.1M $57.25M
YoY Change 6.42% 3.67% 19.36%
Cost Of Revenue $33.90M $100.6M $24.54M
YoY Change 38.13% 15.44% 37.87%
Gross Profit $27.03M $115.5M $32.71M
YoY Change -17.36% -4.77% 8.42%
Gross Profit Margin 44.36% 53.45% 57.13%
Selling, General & Admin $30.71M $84.29M $14.37M
YoY Change 113.68% 29.71% 2.57%
% of Gross Profit 113.6% 72.97% 43.93%
Research & Development $3.140M $11.40M $3.680M
YoY Change -14.67% -28.75% -21.37%
% of Gross Profit 11.62% 9.87% 11.25%
Depreciation & Amortization $13.68M $47.25M $10.90M
YoY Change 25.54% 5.86% 14.02%
% of Gross Profit 50.62% 40.9% 33.32%
Operating Expenses $48.03M $95.69M $28.95M
YoY Change 65.91% 18.16% 2.48%
Operating Profit -$21.00M -$39.79M $331.0K
YoY Change -6444.11% 148.46% -107.09%
Interest Expense -$4.440M -$11.92M -$2.550M
YoY Change 74.12% 26.13% -11.15%
% of Operating Profit -770.39%
Other Income/Expense, Net -$2.690M -$4.343M -$160.0K
YoY Change 1581.25% 779.15% 45.45%
Pretax Income -$30.85M -$56.06M -$2.380M
YoY Change 1196.34% 115.92% -68.89%
Income Tax -$6.717M -$13.46M $1.253M
% Of Pretax Income
Net Earnings -$24.14M -$42.60M -$3.635M
YoY Change 563.99% 88.94% -24.82%
Net Earnings / Revenue -39.61% -19.71% -6.35%
Basic Earnings Per Share -$3.40 -$0.30
Diluted Earnings Per Share -$1.701M -$3.40 -$0.30
COMMON SHARES
Basic Shares Outstanding 12.60M
Diluted Shares Outstanding 12.60M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.3M $100.3M $7.900M
YoY Change 1169.62% 1169.62% -87.32%
Cash & Equivalents $100.3M $100.3M $7.864M
Short-Term Investments
Other Short-Term Assets $7.589M $7.589M $5.900M
YoY Change 28.63% 28.63% 47.5%
Inventory $81.69M $81.69M $60.80M
Prepaid Expenses $7.589M $5.861M
Receivables $128.5M $128.5M $95.79M
Other Receivables $3.667M $3.667M $0.00
Total Short-Term Assets $321.8M $321.8M $170.3M
YoY Change 88.92% 88.95% -9.26%
LONG-TERM ASSETS
Property, Plant & Equipment $52.67M $52.67M $41.27M
YoY Change 27.63% 27.53% 1.77%
Goodwill $27.89M $3.600M
YoY Change 674.67% 0.0%
Intangibles $294.1M $188.5M
YoY Change 56.02% 4.5%
Long-Term Investments
YoY Change
Other Assets $2.205M $75.14M $802.0K
YoY Change 174.94% 30.68% -34.26%
Total Long-Term Assets $449.8M $449.8M $290.9M
YoY Change 54.65% 54.63% 8.09%
TOTAL ASSETS
Total Short-Term Assets $321.8M $321.8M $170.3M
Total Long-Term Assets $449.8M $449.8M $290.9M
Total Assets $771.6M $771.6M $461.2M
YoY Change 67.31% 67.3% 0.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.97M $22.97M $11.26M
YoY Change 103.95% 103.25% -22.9%
Accrued Expenses $7.650M $27.80M $2.456M
YoY Change 211.48% 21.41% 3.98%
Deferred Revenue $100.0K $100.0K
YoY Change 0.0% -80.0%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $850.0K $850.0K $13.24M
YoY Change -93.58% -93.56% 33.22%
Total Short-Term Liabilities $87.54M $87.54M $78.57M
YoY Change 11.42% 11.37% 27.38%
LONG-TERM LIABILITIES
Long-Term Debt $286.5M $286.5M $172.4M
YoY Change 66.15% 66.19% -1.91%
Other Long-Term Liabilities $7.801M $38.80M $14.48M
YoY Change -46.13% 167.59% 122.32%
Total Long-Term Liabilities $294.3M $325.3M $186.9M
YoY Change 57.45% 74.06% 2.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $87.54M $87.54M $78.57M
Total Long-Term Liabilities $294.3M $325.3M $186.9M
Total Liabilities $412.9M $412.9M $265.5M
YoY Change 55.51% 55.5% 8.81%
SHAREHOLDERS EQUITY
Retained Earnings -$47.77M -$4.972M
YoY Change 860.68% -128.28%
Common Stock $1.000K $1.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $333.9M $358.7M $195.7M
YoY Change
Total Liabilities & Shareholders Equity $771.6M $771.6M $461.2M
YoY Change 67.31% 67.3% 0.96%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$24.14M -$42.60M -$3.635M
YoY Change 563.99% 88.94% -24.82%
Depreciation, Depletion And Amortization $13.68M $47.25M $10.90M
YoY Change 25.54% 5.86% 14.02%
Cash From Operating Activities -$12.18M $3.322M -$5.710M
YoY Change 113.4% -78.24% -218.96%
INVESTING ACTIVITIES
Capital Expenditures -$356.0K $2.557M -$2.110M
YoY Change -83.13% -58.32% 23.39%
Acquisitions $84.49M
YoY Change
Other Investing Activities -$81.86M -$102.9M -$10.00K
YoY Change 818470.0% 65.5% -103.03%
Cash From Investing Activities -$82.21M -$105.5M -$2.120M
YoY Change 3777.97% 54.39% 54.74%
FINANCING ACTIVITIES
Cash Dividend Paid $190.0K
YoY Change
Common Stock Issuance & Retirement, Net -$74.11M
YoY Change -4966.05%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 179.4M 194.6M -2.210M
YoY Change -8219.64% -13622.93% 187.01%
NET CHANGE
Cash From Operating Activities -12.18M 3.322M -5.710M
Cash From Investing Activities -82.21M -105.5M -2.120M
Cash From Financing Activities 179.4M 194.6M -2.210M
Net Change In Cash 85.05M 92.43M -10.04M
YoY Change -947.07% -269.62% -477.44%
FREE CASH FLOW
Cash From Operating Activities -$12.18M $3.322M -$5.710M
Capital Expenditures -$356.0K $2.557M -$2.110M
Free Cash Flow -$11.83M $765.0K -$3.600M
YoY Change 228.58% -91.62% -155.3%

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CY2021 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, revenue recognition, allowance for credit losses, variable consideration determined based on accruals for chargebacks, administrative fees and rebates, government rebates, returns and other allowances, allowance for inventory obsolescence, valuation of financial instruments and intangible assets, accruals for contingent liabilities, including contingent consideration in acquisitions, fair value of long-lived assets, income tax provision or benefit, deferred taxes and valuation allowance, determination of right-of-use assets and lease liabilities, purchase price allocations, and the depreciable lives of long-lived assets. Because of the uncertainties inherent in such estimates, actual results may differ from those estimates. Management periodically evaluates estimates used in the preparation of the financial statements for reasonableness.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt;">We are subject to risks and uncertainties as a result of the novel coronavirus (“COVID-19”) pandemic. We are unable to predict the impact that the COVID-19 pandemic will continue to have on our future business, financial condition, and results of operations due to numerous uncertainties. These uncertainties include the occurrence of recurring outbreaks and their severity and the duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact and the direct and indirect economic effects of the pandemic and containment measures, among </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 10pt 0pt;">others. We remain unable to predict the future impact on our estimates and assumptions. There was no material impact to these estimates or assumptions in our consolidated financial statements as of and for the years ended December 31, 2021 and 2020. Actual results could differ from those estimates, which may change our estimates in future periods. We continue to closely monitor the impact of the COVID-19 pandemic on our business.</p>
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Credit Concentration</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:10pt;text-indent:18pt;margin:0pt;">Our customers are primarily wholesale distributors, chain drug stores, group purchasing organizations, and other pharmaceutical companies.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;background:#ffffff;margin:0pt;">During the years ended December 31, 2021 and 2020 we had three customers that accounted for 10% or more of net revenues. As of December 31, 2021, accounts receivable from these customers totaled 92% of accounts receivable, net.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt 0pt 0pt 18pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt 0pt 0pt 18pt;">The three customers represent the total percentage of net revenues as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;background:#ffffff;margin:0pt 0pt 0pt 18pt;"><span style="margin-left:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:40.35%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:40.35%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:40.35%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td colspan="7" style="vertical-align:bottom;white-space:nowrap;width:51.7%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Years Ended December 31, </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:40.35%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">    </p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">    </p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2020</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">    </p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2019</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"> </p></td></tr><tr><td style="vertical-align:bottom;width:40.35%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Customer 1</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 29</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 31</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 32</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:40.35%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Customer 2</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 23</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 24</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 25</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr><tr><td style="vertical-align:bottom;width:40.35%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">Customer 3</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 16</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 19</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.69%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:13.63%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 23</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.53%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;">%</p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Vendor Concentration</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">We source the raw materials for products, including active pharmaceutical ingredients (“API”), from both domestic and international suppliers. Generally, only a single source of API is qualified for use in each product due to the costs and time required to validate a second source of supply. As a result, we are dependent upon our current vendors to supply reliably the API required for on-going product manufacturing. During the year ended December 31, 2021, no single vendor represented at least 10% of inventory purchases. During the year ended December 31, 2020, we purchased approximately 10% of our inventory from one supplier. During the year ended December 31, 2019, we purchased approximately 13% of our inventory from one supplier.</p>
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216136000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
208475000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
206547000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216136000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
208475000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
206547000
CY2021 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
9900000
CY2021 us-gaap Contract With Customer Performance Obligation Satisfied In Previous Period
ContractWithCustomerPerformanceObligationSatisfiedInPreviousPeriod
9900000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
100000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
100000
CY2020 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
300000
CY2021Q4 anip Fdic Guaranteed Amount
FdicGuaranteedAmount
250000
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
11400000
CY2019 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2020Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
0
CY2021Q4 us-gaap Assets Held For Sale Not Part Of Disposal Group
AssetsHeldForSaleNotPartOfDisposalGroup
0
CY2021 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
2400000
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ImpairmentOfIntangibleAssetsFinitelived
400000
CY2019 us-gaap Impairment Of Intangible Assets Finitelived
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75000
CY2019 us-gaap Goodwill Impairment Loss
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0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Research And Development Expense
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16000000.0
CY2019 us-gaap Research And Development Expense
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19800000
CY2021 us-gaap Allocated Share Based Compensation Expense
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CY2020 us-gaap Allocated Share Based Compensation Expense
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12800000
CY2019 us-gaap Allocated Share Based Compensation Expense
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9100000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2020 us-gaap Net Income Loss
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-22548000
CY2019 us-gaap Net Income Loss
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6094000
CY2021 us-gaap Net Income Loss
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-42603000
CY2020 us-gaap Net Income Loss
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-22548000
CY2019 us-gaap Net Income Loss
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97000
CY2019 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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97000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
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190000
CY2021 us-gaap Preferred Stock Dividends Income Statement Impact
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190000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
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-42793000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
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-22548000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
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5997000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
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-42793000
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-22548000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Diluted
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5997000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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12596000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11964000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11841000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
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12596000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
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11964000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
11841000
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103000
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96000
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12596000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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11964000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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12040000
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-3.40
CY2020 us-gaap Earnings Per Share Basic
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-1.88
CY2019 us-gaap Earnings Per Share Basic
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0.51
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-3.40
CY2020 us-gaap Earnings Per Share Diluted
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-1.88
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.50
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1700000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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1300000
CY2019 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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3000000.0
CY2021 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Hedge Accounting</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">At times we use derivative financial instruments to hedge our exposure to interest rate risks. All derivative financial instruments are recognized as either assets or liabilities at fair value on the consolidated balance sheet and are classified as current or non-current based on the scheduled maturity of the instrument.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 10pt 0pt;">When we enter into a hedge arrangement and intend to apply hedge accounting, we formally document the hedge relationship and designate the instrument for financial reporting purposes as a fair value hedge, a cash flow hedge, or a net investment hedge. When we determine that a derivative financial instrument qualifies as a cash flow hedge and is effective, the changes in fair value of the instrument are recorded in accumulated other comprehensive (loss)/income, net of tax in our consolidated balance sheets and will be reclassified to earnings when the hedged item affects earnings.</p>
CY2021 us-gaap Number Of Reportable Segments
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1
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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208475000
CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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206547000
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52671000
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41269000
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98000
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88000
CY2019 us-gaap Interest Costs Capitalized Adjustment
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191000
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11945000
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CY2019 us-gaap Interest Expense Debt
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13468000
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272888000
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260951000
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-31740000
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-48814000
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8847000
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6635000
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5647000
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914000
CY2020 us-gaap Amortization Of Financing Costs
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720000
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5231000
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60803000
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5475000
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3194000
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652000
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886000
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20363000
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7753000
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75627000
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58796000
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22956000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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17527000
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52671000
CY2020Q4 us-gaap Property Plant And Equipment Net
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41269000
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5500000
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4800000
CY2019 us-gaap Depreciation
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4400000
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100000
CY2020 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
100000
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000
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0
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GoodwillImpairmentLoss
0
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2021Q4 us-gaap Goodwill
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CY2020Q4 us-gaap Goodwill
Goodwill
3600000
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206367000
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355170000
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166659000
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CY2021 us-gaap Amortization Of Intangible Assets
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41800000
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39900000
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40200000
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49121000
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49997000
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61745000
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6790000
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14109000
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559000
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1212000
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3307000
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9791000
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6197000
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169000
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0.210
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0.210
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0.033
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0.032
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-0.010
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-0.001
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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0.004
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.007
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-0.581
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-0.017
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-0.025
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-0.067
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0.055
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0.240
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5108000
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4277000
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13831000
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2879000
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9491000
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450000
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51704000
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P3Y2M12D
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240000
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66000
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288000
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289000
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462000
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429000
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413000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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191000
CY2021Q4 anip Lessee Operating Lease Liability To Be Paid Year Four And After
LesseeOperatingLeaseLiabilityToBePaidYearFourAndAfter
51000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1546000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
164000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1382000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
387000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
995000
CY2021 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
12600000
CY2021 anip Cortrophin Pre Launch Charges
CortrophinPreLaunchCharges
800000
CY2020 anip Cortrophin Pre Launch Charges
CortrophinPreLaunchCharges
11300000
CY2019 anip Cortrophin Pre Launch Charges
CortrophinPreLaunchCharges
6700000
CY2021 dei Auditor Name
AuditorName
EisnerAmper LLP
CY2021 dei Auditor Location
AuditorLocation
Philadelphia, Pennsylvania
CY2021 dei Auditor Firm
AuditorFirmId
274

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