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Document and Entity Information
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9 Months Ended | |
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Sep. 30, 2014
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Oct. 29, 2014
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| Document and Entity Information | ||
| Entity Registrant Name | VIVUS INC | |
| Entity Central Index Key | 0000881524 | |
| Document Type | 10-Q | |
| Document Period End Date | Sep. 30, 2014 | |
| Amendment Flag | false | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Current Reporting Status | Yes | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 103,678,036 | |
| Document Fiscal Year Focus | 2014 | |
| Document Fiscal Period Focus | Q3 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer), including liabilities for compensation costs, fringe benefits other than pension and postretirement obligations, rent, contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of investment in debt and equity securities categorized neither as trading securities nor held-to-maturity securities and intended be sold or mature one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)
In Thousands, except Per Share data, unless otherwise specified |
Sep. 30, 2014
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Dec. 31, 2013
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| CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| Preferred stock, par value (in dollars per share) | $ 1.00 | $ 1.00 |
| Preferred stock, shares authorized | 5,000 | 5,000 |
| Preferred stock, shares issued | 0 | 0 |
| Preferred stock, shares outstanding | 0 | 0 |
| Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
| Common stock, shares authorized | 200,000 | 200,000 |
| Common stock, shares issued | 103,678 | 103,161 |
| Common stock, shares outstanding | 103,678 | 103,161 |
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- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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| Revenue: | ||||
| Net product revenue | $ 12,454 | $ 6,379 | $ 32,575 | $ 16,025 |
| License and milestone revenue | 15,070 | 21,000 | 38,614 | 21,000 |
| Supply revenue | 5,300 | 18,336 | ||
| Royalty revenue | 1,053 | 2,924 | ||
| Total revenue | 33,877 | 27,379 | 92,449 | 37,025 |
| Operating expenses: | ||||
| Cost of goods sold | 7,268 | 741 | 23,816 | 1,703 |
| Research and development | 2,574 | 8,405 | 11,083 | 24,683 |
| Selling, general and administrative | 27,828 | 38,167 | 84,703 | 121,666 |
| Inventory impairment and other non-recurring charges | 4,119 | 20,743 | 6,173 | 34,892 |
| Total operating expenses | 41,789 | 68,056 | 125,775 | 182,944 |
| Loss from operations | (7,912) | (40,677) | (33,326) | (145,919) |
| Total interest expense and other expense, net | 8,135 | 7,669 | 24,534 | 11,817 |
| Loss from continuing operations before income taxes | (16,047) | (48,346) | (57,860) | (157,736) |
| Provision for (benefit from) income taxes | (222) | 33 | (660) | 46 |
| Loss from continuing operations | (15,825) | (48,379) | (57,200) | (157,782) |
| Income from discontinued operations, net of tax | 175 | 490 | ||
| Net loss | $ (15,825) | $ (48,204) | $ (57,200) | $ (157,292) |
| Basic and diluted net loss per share: | ||||
| Continuing operations (in dollars per share) | $ (0.15) | $ (0.48) | $ (0.55) | $ (1.56) |
| Discontinued operations (in dollars per share) | $ 0.00 | $ 0.00 | $ 0.00 | $ 0.00 |
| Net loss per share (in dollars per share) | $ (0.15) | $ (0.48) | $ (0.55) | $ (1.56) |
| Shares used in per share computation: | ||||
| Basic and diluted (in shares) | 103,477 | 100,904 | 103,373 | 100,769 |
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Details
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- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) from continuing operations per each basic and diluted share of common stock or unit when the per share amount is the same for both basic and diluted shares. No definition available.
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- Definition
Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Per basic and diluted share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation, when the per share amount is the same. No definition available.
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount provided for estimated restructuring charges, remediation costs, and asset impairment loss during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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- Details
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| X | ||||||||||
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- Definition
Revenue from multiple-deliverable arrangements that include licensing fees and milestone revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. The amount of consideration recognized during the period for the milestone or milestones. No definition available.
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- Definition
Represents the amount of revenue from supply during the period. No definition available.
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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | ||||
| Net loss | $ (15,825) | $ (48,204) | $ (57,200) | $ (157,292) |
| Other comprehensive loss: | ||||
| Unrealized gain on securities, net of taxes | 118 | 32 | 59 | |
| Comprehensive loss | $ (15,825) | $ (48,086) | $ (57,168) | $ (157,233) |
| X | ||||||||||
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) of operating activities of discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Amount of income (loss) from continuing operations attributable to the parent. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
|
| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other obligations or expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of accretion (amortization) of purchase discount (premium) on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
|
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Other cash or noncash adjustments to reconcile net income to cash provided by (used in) operating activities that are not separately disclosed in the statement of cash flows (for example, cash received or cash paid during the current period for miscellaneous operating activities, net change during the reporting period in other assets or other liabilities). No definition available.
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| X | ||||||||||
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- Definition
The cash outflow for a financial contract that meets the hedge criteria as either cash flow hedge, fair value hedge or hedge of net investment in foreign operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow to acquire debt securities classified as available-for-sale securities, because they are not classified as either held-to-maturity securities or trading securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from additional borrowings, net of cash paid to third parties in connection with debt origination. No definition available.
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards other than stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. No definition available.
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| X | ||||||||||
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- Definition
The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Nonrecurring impairment charges related to the write-off of production-related equipment and inventory. This tag is used when an Entity charges this cost to cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION
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9 Months Ended |
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Sep. 30, 2014
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| BASIS OF PRESENTATION | |
| BASIS OF PRESENTATION | 1. BASIS OF PRESENTATION
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2014, are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. Management has evaluated all events and transactions that occurred after September 30, 2014, through the date these unaudited condensed consolidated financial statements were filed. There were no events or transactions during this period that require recognition or disclosure in these unaudited condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2013 has been derived from the audited financial statements, but does not include all of the disclosures required by U.S. GAAP.
The unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 as filed on February 28, 2014 and as amended by the Form 10-K/A filed on April 30, 2014, with the Securities and Exchange Commission, or SEC. The unaudited condensed consolidated financial statements include the accounts of VIVUS, Inc. and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
When we refer to “we,” “our,” “us,” the “Company” or “VIVUS” in this document, we mean the Delaware corporation, or VIVUS, Inc., and its California predecessor, as well as all of our consolidated subsidiaries.
Reclassifications
Certain prior year amounts in the unaudited condensed consolidated financial statements have been reclassified to conform to the current year presentation.
Significant Accounting Policies
There have been no changes to the Company’s significant accounting policies since the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.
Use of Estimates
The preparation of these unaudited condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures. On an ongoing basis, the Company evaluates its estimates, including critical accounting policies or estimates related to available-for-sale securities, debt instruments, research and development expenses, income taxes, inventories, revenues, contingencies and litigation and share-based compensation. The Company bases its estimates on historical experience, information received from third-parties and on various market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ significantly from those estimates under different assumptions or conditions.
Recent Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board, or FASB, issued ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is in the process of evaluating the impact of adoption on its consolidated financial statements.
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHARE-BASED COMPENSATION
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Sep. 30, 2014
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| SHARE-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SHARE-BASED COMPENSATION | 2. SHARE-BASED COMPENSATION
The Company accounts for share-based compensation arrangements in accordance with the FASB’s Accounting Standards Codification, or ASC, Topic 718, Compensation—Stock Compensation, or ASC 718, and ASC 505-50, Equity — Equity Based Payments to Non-Employees.
Total share-based compensation expense for all of the Company’s share-based awards is as follows (in thousands):
The Company did not capitalize any share-based compensation cost as part of the cost of inventory during the three and nine months ended September 30, 2014, because there was no manufacturing activity during these periods. The Company capitalized share-based compensation costs of $75,000 and $467,000 during the three and nine months ended September 30, 2013, respectively, as part of the cost of inventory.
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- Details
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- Definition
The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. No definition available.
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CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES
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Sep. 30, 2014
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| CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES | 3. CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES
The fair value and the amortized cost of cash, cash equivalents, and available-for-sale securities by major security type at September 30, 2014 and December 31, 2013, are presented in the tables that follow.
As of September 30, 2014, all of the Company’s available-for-sale securities have original contractual maturities up to 24 months. However, the Company may or may not hold securities with stated maturities greater than 12 months until maturity. In response to changes in the availability of and the yield on alternative investments as well as liquidity requirements, the Company may sell these securities prior to their stated maturities. As these securities are viewed by the Company as available to support current operations, securities with maturities beyond 12 months are classified as current assets. Due to their short-term maturities, the Company believes that the fair value of its bank deposits approximate their carrying value.
Fair Value Measurements
As of September 30, 2014 and December 31, 2013, all of the Company’s cash and cash equivalents and available-for-sale securities were measured at fair value on a recurring basis, and classified as Level 1 in the fair value hierarchy. There were no assets or liabilities measured on a recurring basis where Level 2 or Level 3 valuation techniques were used.
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- Definition
The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). No definition available.
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- Details
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ACCOUNTS RECEIVABLE
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Sep. 30, 2014
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| ACCOUNTS RECEIVABLE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCOUNTS RECEIVABLE | 4. ACCOUNTS RECEIVABLE
Accounts receivable consist of (in thousands):
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- Definition
The entire disclosure for claims held for amounts due to the entity from accounts receivable. No definition available.
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INVENTORIES
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Sep. 30, 2014
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| INVENTORIES | |||||||||||||||||||||||||||||||||||||||||||||||||
| INVENTORIES | 5. INVENTORIES
Inventories consist of (in thousands):
As of September 30, 2014 and December 31, 2013, raw materials inventories consist primarily of the active pharmaceutical ingredients, or API, for the commercialization of Qsymia (phentermine and topiramate extended release) capsules CIV and finished goods. Deferred costs inventories consist of both Qsymia and STENDRA (avanafil). The Qsymia deferred costs represents Qsymia product shipped to the Company’s wholesalers, certified retail pharmacies and certified home delivery pharmacy services networks, but not yet dispensed to patients through prescriptions, net of prompt payment discounts, and for which recognition of revenue has been deferred. The STENDRA deferred costs represent certain initial orders of STENDRA or SPEDRA product with the right of return or credit, which have not met the required specifications of one of the Company’s partners, and for which recognition of revenue has been deferred.
Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out method for all inventories, which are valued using a weighted average cost method calculated for each production batch. The Company periodically evaluates the carrying value of inventory on hand for potential excess amount over demand using the same lower of cost or market approach as that used to value the inventory. As a result of this evaluation, in both the three and nine months ended September 30, 2014, the Company recorded a charge of $2.2 million for finished goods and certain non-API raw materials on hand in excess of demand. During the three months ended September 30, 2013, there was no inventory impairment charge. During the nine months ended September 30, 2013, the Company recorded a charge of $10.2 million for inventories on hand in excess of demand. These charges are included in inventory impairment and other non-recurring charges on the condensed consolidated statement of operations.
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- Details
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- Definition
The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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PREPAID EXPENSES AND OTHER ASSETS
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Sep. 30, 2014
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| PREPAID EXPENSES AND OTHER ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PREPAID EXPENSES AND OTHER ASSETS | 6. PREPAID EXPENSES AND OTHER ASSETS
Prepaid expenses and other assets consist of (in thousands):
The amounts included in prepaid expenses and other assets consist primarily of interest income receivable and prepayments for future services. These and other prepayment amounts represent probable future economic benefits obtained or controlled by the Company as a result of past transactions or events, which meet the definition of an asset under FASB Concept Statement 6. As such, these costs have been deferred as prepaid expenses and other assets on the condensed consolidated balance sheets and will be either (i) charged to expense accordingly when the related prepaid services are rendered to the Company, or (ii) converted to cash when the receivables are collected by the Company.
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- Definition
The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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- Details
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NON-CURRENT ASSETS
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Sep. 30, 2014
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| NON-CURRENT ASSETS | 7. NON-CURRENT ASSETS
Non-current assets consist of (in thousands):
The amounts included in non-current assets primarily consist of patent acquisition and assignment costs (see Note 10), and debt issuance costs related to the Convertible Notes and the Senior Secured Notes offerings (see Note 13).
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- Definition
Represents the non-current assets. No definition available.
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ACCRUED AND OTHER LIABILITIES
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Sep. 30, 2014
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| ACCRUED AND OTHER LIABILITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACCRUED AND OTHER LIABILITIES | 8. ACCRUED AND OTHER LIABILITIES
Accrued and other liabilities consist of (in thousands):
The amounts included in other accrued liabilities consist of obligations primarily related to sales, marketing, research, clinical development, corporate activities and royalties.
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- Definition
The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period. No definition available.
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- Details
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NON-CURRENT ACCRUED AND OTHER LIABILITIES
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9 Months Ended |
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Sep. 30, 2014
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| NON-CURRENT ACCRUED AND OTHER LIABILITIES | |
| NON-CURRENT ACCRUED AND OTHER LIABILITIES | 9. NON-CURRENT ACCRUED AND OTHER LIABILITIES
Non-current accrued and other liabilities at September 30, 2014 and December 31, 2013, were $1.6 million and $3.0 million, respectively, primarily comprised of costs associated with the exit of certain operating leases and employee termination costs related to a cost reduction plan implemented in the fourth quarter of 2013 (see Note 10).
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| X | ||||||||||
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- Definition
The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as noncurrent at the end of the reporting period. No definition available.
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- Details
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INVENTORY IMPAIRMENT AND OTHER NON-RECURRING CHARGES
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Sep. 30, 2014
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| INVENTORY IMPAIRMENT AND OTHER NON-RECURRING CHARGES | 10. INVENTORY IMPAIRMENT AND OTHER NON-RECURRING CHARGES
Inventory impairment and other non-recurring charges for the three and nine months ended September 30, 2014 and 2013 consist of (in thousands):
As discussed in Note 5, in both the three and nine months ended September 30, 2014, the Company recorded a charge of $2.2 million for finished goods and certain non-API raw materials on hand in excess of demand. During the three months ended September 30, 2013, there was no inventory impairment charge. During the nine months ended September 30, 2013, the Company recorded a charge of $10.2 million, for inventories on hand in excess of demand.
In September 2014, the Company paid $5.0 million in connection with the transfer and assignment of certain patents from Janssen Pharmaceuticals, Inc. Of the $5.0 million, approximately $1.9 million was recognized as a non-recurring expense in the condensed consolidated statements of operations as it related to a legal settlement during the quarter ended September 30, 2014. The remaining balance of approximately $3.1 million is recorded as an intangible asset and being amortized as cost of goods sold over the period in which the Company expects to benefit from the patents through their expiration dates. Of the $3.1 million, $0.1 million was recorded in cost of goods sold during the three months ended September 30, 2014, and the remaining $3.0 million is included in non-current assets on the condensed consolidated balance sheet and will be amortized over an estimated period of approximately 5.5 years.
The following table presents activities related to a cost reduction plan during the three and nine months ended September 30, 2014 (in thousands):
(1) The accrued facilities-related costs at September 30, 2014 represent estimated losses, net of expected subleases, on space vacated as part of the Company’s cost reduction plan. The noncancelable operating leases and scheduled payments against the amounts accrued extend through May 2020, unless the Company is able to negotiate earlier terminations. (2) In addition to the above non-recurring charges, as previously presented in Note 2, the Company incurred non-cash share-based compensation expense of $0.3 million in the nine months ended September 30, 2014.
Commencing on May 1, 2014, the Company subleased a portion of its Evelyn Lease consisting of approximately 14,105 square feet of space for a term of 36 months at a starting annual rental rate of $42 per square feet (subject to agreed increases). The sublessee is entitled to abatement of monthly installments of rents for months one through four. Minimum rents expected to be received under this sublease as of September 30, 2014 are $146,000, $601,000, $626,000 and $212,000 in fiscal years 2014 (remaining three months), 2015, 2016 and 2017, respectively. Upon the completion of the sublease for this space, the Company expects to either find usage or to locate a suitable sublessee for the duration of the Company’s Evelyn Lease.
Commencing on September 1, 2014, the Company subleased the expansion space relating to the Castro Lease. The sublease consists of approximately 4,914 square feet of space for a term of 31 months at a starting annual rental rate of $53 per square feet (subject to agreed increases). The sublessee is entitled to abatement of the first monthly installment. Minimum rents expected to be received under this sublease as of September 30, 2014 are $65,000, $261,000, $266,000 and $68,000 in fiscal years 2014 (remaining three months), 2015, 2016 and 2017, respectively.
Of the total accrued employee severance and facilities-related costs as of September 30, 2014, $3.8 million is included under current liabilities in “Accrued and other liabilities” and $1.3 million is included in “Non-current accrued and other liabilities.”
The balance of the accrued employee severance and facilities-related costs at September 30, 2014 is anticipated to be paid out as follows (in thousands):
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The entire disclosure for any additional information related to the determination or classification of material events or transactions (that would not reasonably be expected to recur in the foreseeable future) that possesses a high degree of abnormality and are incidentally related to, the ordinary and typical activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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DEFERRED REVENUE
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Sep. 30, 2014
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| DEFERRED REVENUE | 11. DEFERRED REVENUE
Qsymia Deferred Revenue
At September 30, 2014, the Company had $16.3 million in current deferred revenue, which represents Qsymia product shipped to the Company’s wholesalers, certified retail pharmacies and certified home delivery pharmacy services networks, but not yet dispensed to patients through prescriptions, net of prompt payment discounts.
STENDRA or SPEDRA Deferred Revenue
At September 30, 2014, the Company had $3.9 million and $9.5 million in current and non-current deferred revenue, respectively, relating to prepayment for future royalties on sales of SPEDRA. Additionally, the Company supplied certain initial orders of STENDRA or SPEDRA product with a right of return or credit, which have not met the required specifications of one of the Company’s partners and for which the Company had $2.8 million in current deferred revenue at September 30, 2014.
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The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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LICENSE, COMMERCIALIZATION AND SUPPLY AGREEMENTS
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Sep. 30, 2014
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| LICENSE, COMMERCIALIZATION AND SUPPLY AGREEMENTS | 12. LICENSE, COMMERCIALIZATION AND SUPPLY AGREEMENTS
During 2013, the Company entered into license and commercialization agreements and commercial supply agreements with the Menarini Group, through its subsidiary Berlin-Chemie AG, or Menarini, Auxilium Pharmaceuticals, Inc., or Auxilium, and Sanofi and its affiliate, or Sanofi, to commercialize and promote STENDRA or SPEDRA in their respective territories. Menarini’s territory is comprised of over 40 European countries, including the EU, plus Australia and New Zealand. Auxilium’s territory is comprised of the United States and Canada and their respective territories. Sanofi’s territory is comprised of Africa, the Middle East, Turkey and Eurasia.
For the three months ended September 30, 2014, the Company recognized $15.1 million in license and milestone revenue primarily attributable to milestone revenue related to the approval of the Time of Onset Claim in the U.S. For the nine months ended September 30, 2014, the Company recognized $38.6 million in license and milestone revenue primarily attributable to product launches in certain EU countries and milestone revenue related to the approval of the Time of Onset Claim in the U.S. For the three and nine months ended September 30, 2014, the Company recognized $5.3 million and $18.3 million, respectively, in supply revenue relating to STENDRA or SPEDRA delivered under the various commercial supply agreements with Menarini, Auxilium and Sanofi. Additionally, for the three and nine months ended September 30, 2014, the Company recognized $1.1 million and $2.9 million, respectively, in royalty revenue based on net sales reported by Menarini and Auxilium.
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The entire disclosure for collaborative arrangements in which the entity is a participant, including a) information about the nature and purpose of such arrangements; b) its rights and obligations thereunder; c) the accounting policy for collaborative arrangements; and d) the income statement classification and amounts attributable to transactions arising from the collaborative arrangement between participants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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LONG-TERM DEBT
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| LONG-TERM DEBT | 13. LONG-TERM DEBT
Convertible Senior Notes Due 2020
On May 21, 2013, the Company closed an offering of $220.0 million in 4.5% Convertible Senior Notes due May 1, 2020, or the Convertible Notes. The Convertible Notes are governed by an indenture, dated as of May 21, 2013, between the Company and Deutsche Bank National Trust Company, as trustee. On May 29, 2013, the Company closed on an additional $30.0 million of Convertible Notes upon exercise of an option by the initial purchasers of the Convertible Notes. Total net proceeds from the Convertible Notes were approximately $241.8 million. For the three and nine months ended September 30, 2014, total interest expense related to the Convertible Notes was $6.3 million and $18.6 million, respectively, including amortization of $3.7 million and $10.9 million of the debt discount and $202,000 and $584,000 of deferred financing costs, respectively. For the three and nine months ended September 30, 2013, total interest expense related to the Convertible Notes was $5.7 million and $8.1 million, respectively, including amortization of $3.4 million and $5.9 million of the debt discount and $182,000 and $260,000 of deferred financing costs, respectively.
Senior Secured Notes Due 2018
On March 25, 2013, the Company entered into the Purchase and Sale Agreement between the Company and BioPharma Secured Investments III Holdings Cayman LP, a Cayman Islands exempted limited partnership, providing for the purchase of a debt-like instrument, or the Senior Secured Notes. Under the agreement, the Company received $50 million, less $500,000 in funding and facility payments, at the initial closing on April 9, 2013. The Company had the option, but elected not to exercise it, to receive an additional $60 million, less $600,000 in a funding payment, at a secondary closing no later than January 15, 2014. For the three and nine months ended September 30, 2014, the interest expense related to the Senior Secured Notes was $1.9 million and $5.7 million, respectively, including amortization of deferred financing costs amounting to $116,000 and $354,000, respectively. For the three and nine months ended September 30, 2013, the interest expense related to the Senior Secured Notes was $1.7 million and $3.2 million, respectively, including amortization of deferred financing costs amounting to $106,000 and $212,000, respectively.
The following table summarizes information on the debt (in thousands):
(1) Approximately $6.9 million was classified as current and included in accrued and other current liabilities in the Condensed Consolidated Balance Sheet as of September 30, 2014.
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The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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NET INCOME (LOSS) PER SHARE
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Sep. 30, 2014
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| NET INCOME (LOSS) PER SHARE | 14. NET INCOME (LOSS) PER SHARE
The Company computes basic net income (loss) per share applicable to common stockholders based on the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the weighted average number of common and common equivalent shares, which represent shares that may be issued in the future upon the exercise of outstanding stock options or upon a net share settlement of the Company’s Convertible Notes. Common share equivalents are excluded from the computation in periods in which they have an anti-dilutive effect. Stock options for which the price exceeds the average market price over the period have an anti-dilutive effect on net income per share and, accordingly, are excluded from the calculation. The triggering conversion conditions that allow holders of the Convertible Notes to convert have not been met. If such conditions are met and the note holders opt to convert, the Company may choose to pay in cash, common stock, or a combination thereof; however, if this occurs, the Company has the intent and ability to net share settle this debt security; thus the Company uses the treasury stock method for earnings per share purposes. Due to the effect of the capped call instrument purchased in relation to the Convertible Notes, there would be no net shares issued until the market value of the Company’s stock exceeds $20 per share, and thus no impact on diluted net income per share. Further, when there is a net loss, potentially dilutive common equivalent shares are not included in the calculation of net loss per share since their inclusion would be anti-dilutive.
As the Company recognized a net loss for the three and nine months ended September 30, 2014 and 2013, all potential common equivalent shares were excluded for these periods as they were anti-dilutive. For the three and nine months ended September 30, 2014, awards and options outstanding of 8,069,865 and 8,494,903, respectively, were excluded in the computation of diluted net loss per share for the Company because the effect would be anti-dilutive. For the three and nine months ended September 30, 2013, awards and options outstanding of 5,626,000 and 6,026,000, respectively, were excluded in the computation of diluted net loss per share because the effect would be anti-dilutive.
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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INCOME TAXES
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| INCOME TAXES | 15. INCOME TAXES
For the three and nine months ended September 30, 2014, the Company recorded a tax benefit of $222,000 and $660,000, respectively. For the three and nine months ended September 30, 2013, the Company recorded provisions for income taxes of $33,000 and $46,000, respectively. The tax benefit for the three months ended September 30, 2014 primarily relates to tax liabilities in certain states, offset by a reduction to the Company’s unrecognized tax benefits as a result of the California Franchise Tax Board audit that was favorably settled.
The tax benefit for the nine months ended September 30, 2014 primarily relates to tax liabilities in certain states, offset by a tax refund received from the State of New Jersey as a result of a settlement of an audit and acceptance of a refund claim for the tax year ended December 31, 2007 and a reduction of the Company’s unrecognized tax benefits as a result of the California Franchise Tax Board audit that was favorably settled. The tax provision for the three and nine months ended September 30, 2013 relates to state tax liabilities.
The Company assesses the likelihood that it will be able to recover its deferred tax assets on a quarterly basis. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance. If it is not more likely than not that the Company will recover its deferred tax assets, the Company will increase its provision for taxes by recording a valuation allowance against the deferred tax assets that the Company estimates will not ultimately be recoverable. As a result of the Company’s analysis of all available evidence, both positive and negative, as of December 31, 2013, it was considered more likely than not that the Company’s deferred tax assets would not be realized. However, should there be a change in the Company’s ability to recover its deferred tax assets, the Company would recognize a benefit to its tax provision in the period in which the Company determines that it is more likely than not that it will recover its deferred tax assets.
There were changes to the Company’s unrecognized tax benefits in the three months ended September 30, 2014 as a result of the favorable settlement with the California Franchise Tax Board. We do not expect to have any further significant changes to unrecognized tax benefits through the end of the fiscal year, because of our history of tax losses, and certain tax years that remain open to tax audit.
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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LEGAL MATTERS
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| LEGAL MATTERS | 16. LEGAL MATTERS
Securities Related Class Action and Shareholder Derivative Lawsuits
The Company, a current officer and a former officer were defendants in a putative class action captioned Kovtun v. VIVUS, Inc., et al., Case No. 4:10-CV-04957-PJH, in the U.S. District Court, Northern District of California. The action, filed in November 2010, alleged violations of Section 10(b) and 20(a) of the federal Securities Exchange Act of 1934 based on allegedly false or misleading statements made by the defendants in connection with the Company’s clinical trials and New Drug Application, or NDA, for Qsymia as a treatment for obesity. The Court granted defendants’ motions to dismiss both plaintiff’s Amended Class Action Complaint and Second Amended Class Action Complaint; by order dated September 27, 2012, the latter dismissal was with prejudice and final judgment was entered for defendants the same day. On October 26, 2012, plaintiff filed a Notice of Appeal to the U.S. Court of Appeals for the Ninth Circuit. Briefing of the appeal is complete, and the Court of Appeals has set oral argument for January 16, 2015.
Additionally, certain of the Company’s former officers and directors and a current director are defendants in a shareholder derivative lawsuit captioned Turberg v. Logan, et al., Case No. CV-10-05271-PJH, pending in the same federal court. In the plaintiff’s Verified Amended Shareholder Derivative Complaint filed June 3, 2011, the plaintiff largely restated the allegations of the Kovtun action and alleged that the directors breached fiduciary duties to the Company by purportedly permitting the Company to violate the federal securities laws as alleged in the Kovtun action. The same individuals are also named defendants in consolidated shareholder derivative suits pending in the California Superior Court, Santa Clara County, under the caption In re VIVUS, Inc. Derivative Litigation, Master File No. 11 0 CV188439. The allegations in the state court derivative suits are substantially similar to the other lawsuits. The Company is named as a nominal defendant in these actions, neither of which seeks any recovery from the Company. The parties have agreed to stay the derivative lawsuits pending the outcome of the appeal of the securities class action.
On July 12, 2013, various current and former officers and directors of the Company were named as defendants in a separate shareholder derivative lawsuit filed in the California Superior Court, Santa Clara County, and captioned Ira J. Gaines IRA, et al. v. Leland F. Wilson, et al., Case No.1-13-CV-249436. The lawsuit generally alleged breaches of the fiduciary duty of care in connection with the launch of Qsymia, breaches of the duty of loyalty and insider trading by some defendants for selling Company stock while purportedly being aware that the Qsymia launch would be less successful than predicted and corporate waste. On March 14, 2014, the Court sustained a demurrer and dismissed the complaint with leave to amend. An order memorializing the Court’s ruling was entered March 21, 2014. On April 21, 2014, derivative plaintiffs filed an Amended Shareholder Derivative Complaint alleging substantially similar breaches of duty. On May 21, 2014, the Company filed a demurrer to the Amended Complaint. With that demurrer pending, derivative plaintiffs asked the Court in July 2014 to dismiss the action with prejudice as to the named plaintiffs and otherwise without prejudice. The Court did so by order entered July 17, 2014, and the matter is now concluded.
On March 27, 2014, Mary Jane and Thomas Jasin, who purport to be purchasers of VIVUS common stock, filed an Amended Complaint in Santa Clara County Superior Court alleging securities fraud against the Company and three of its former officers and directors. In that complaint, captioned Jasin v. VIVUS, Inc., Case No. 114-cv-261427, plaintiffs asserted claims under California’s securities and consumer protection securities statutes. Plaintiffs alleged generally that defendants misrepresented the prospects for the Company’s success, including with respect to the launch of Qsymia, while purportedly selling VIVUS stock for personal profit. Plaintiffs alleged losses of “at least” $2.8 million, and sought damages and other relief. On June 5, 2014, the Company and the other defendants filed a demurrer to the Amended Complaint seeking its dismissal. With the demurrer pending, on July 18, 2014, the same plaintiffs filed a complaint in the United States District Court for the Northern District of California, captioned Jasin v. VIVUS, Inc., Case No. 5:14-cv-03263. The Jasins’ federal complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, based on facts substantially similar to those alleged in their state court action. On September 15, 2014, pursuant to an agreement between the parties, plaintiffs moved to voluntarily dismiss, with prejudice, the state court action. In the federal action, the parties have filed a briefing stipulation providing for briefing on the Company’s and the other defendants’ anticipated motion to dismiss in November 2014-January 2015, with a court hearing on the motion thereafter. The Company maintains directors’ and officers’ liability insurance that it believes affords coverage for much of the anticipated cost of the remaining Jasin action, subject to payment of our self-insured retention and the policies’ terms and conditions.
The Company and its directors cannot predict the outcome of the various shareholder lawsuits, but they believe the various shareholder lawsuits are without merit and intend to continue vigorously defending them.
Qsymia ANDA Litigation
On May 7, 2014, the Company received a Paragraph IV certification notice from Actavis Laboratories FL indicating that it filed an abbreviated new drug application, or ANDA, with the U.S. Food and Drug Administration, or FDA, requesting approval to market a generic version of Qsymia and contending that all six patents listed for Qsymia in the FDA Orange Book (U.S. Patents 7,056,890, 7,553,818, 7,659,256, 7,674,776, 8,580,298, and 8,580,299 (collectively “patents-in-suit”)) are invalid, unenforceable and/or will not be infringed by the manufacture, use, sale or offer for sale of a generic form of Qsymia as described in their ANDA. On June 12, 2014, the Company filed a lawsuit in the U.S District Court for the District of New Jersey against Actavis Laboratories FL, Inc., Actavis, Inc., and Actavis PLC, collectively referred to as Actavis. The lawsuit (Case No. 14-3786 (FSH)(MAH)) was filed on the basis that Actavis’ submission of their ANDA to obtain approval to manufacture, use, sell or offer for sale generic versions of Qsymia prior to the expiration of the patents-in-suit constitutes infringement of one or more claims of those patents.
In accordance with the Hatch-Waxman Act, as a result of having filed a timely lawsuit against Actavis, FDA approval of Actavis’ ANDA will be stayed until the earlier of (i) November 7, 2016 which is 30 months from the Company’s May 7, 2014 receipt of Actavis’ Paragraph IV certification notice or (ii) a District Court decision finding that the identified patents are invalid, unenforceable or not infringed. The Company intends to vigorously enforce its intellectual property rights relating to Qsymia, but the Company cannot predict the outcome of this matter.
Janssen Litigation
On August 22, 2014, the Company was named as a defendant in a complaint filed by Janssen Pharmaceuticals, Inc., or Janssen, in the United States District Court of Delaware. In the complaint, the plaintiff alleged that the Company was infringing U.S. Patent No. 6,071,537, or the’537 patent, by selling Qsymia. The plaintiff sought a permanent injunction enjoining the Company from further infringement and unspecified monetary damages. On August 24, 2014, the Company entered into a Patent Assignment Agreement with Janssen that included assignment of the ‘537 patent to the Company. As a result, Janssen voluntarily dismissed the lawsuit on August 24, 2014.
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SEGMENT INFORMATION
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| SEGMENT INFORMATION | 17. SEGMENT INFORMATION
The Company operates in one reportable segment—the development and commercialization of novel therapeutic products. The Company has identified its Chief Executive Officer as the Chief Operating Decision Maker, or CODM, who manages the Company’s operations on a consolidated basis for purposes of allocating resources. When evaluating financial performance, the CODM reviews product information, while other financial information is reviewed on a consolidated basis. Therefore, results of operations are reported on a consolidated basis for purposes of segment reporting, consistent with internal management reporting. Disclosures about revenues by product and by geographic area are presented below.
Geographic Information
Outside the United States, or ROW, the Company sells products through a commercialization licensee principally in the EU. The geographic classification of product sales was based on the location of the customer. The geographic classification of supply, license and milestone revenue was based on the domicile of the entity from which the revenue was earned.
Net product revenue by geographic region was as follows (in thousands):
(1) Consists of revenue attributable to Germany. (2) Includes $30.8 million of revenue attributable to Germany.
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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BASIS OF PRESENTATION (Policies)
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9 Months Ended |
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Sep. 30, 2014
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| BASIS OF PRESENTATION | |
| Basis of Presentation | BASIS OF PRESENTATION
The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2014, are not necessarily indicative of the results that may be expected for the year ending December 31, 2014. Management has evaluated all events and transactions that occurred after September 30, 2014, through the date these unaudited condensed consolidated financial statements were filed. There were no events or transactions during this period that require recognition or disclosure in these unaudited condensed consolidated financial statements. The condensed consolidated balance sheet as of December 31, 2013 has been derived from the audited financial statements, but does not include all of the disclosures required by U.S. GAAP.
The unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 as filed on February 28, 2014 and as amended by the Form 10-K/A filed on April 30, 2014, with the Securities and Exchange Commission, or SEC. The unaudited condensed consolidated financial statements include the accounts of VIVUS, Inc. and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.
When we refer to “we,” “our,” “us,” the “Company” or “VIVUS” in this document, we mean the Delaware corporation, or VIVUS, Inc., and its California predecessor, as well as all of our consolidated subsidiaries.
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| Reclassifications | Reclassifications
Certain prior year amounts in the unaudited condensed consolidated financial statements have been reclassified to conform to the current year presentation.
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| Use of Estimates | Use of Estimates
The preparation of these unaudited condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures. On an ongoing basis, the Company evaluates its estimates, including critical accounting policies or estimates related to available-for-sale securities, debt instruments, research and development expenses, income taxes, inventories, revenues, contingencies and litigation and share-based compensation. The Company bases its estimates on historical experience, information received from third-parties and on various market specific and other relevant assumptions that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ significantly from those estimates under different assumptions or conditions.
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| Fair Value Measurements | Fair Value Measurements
As of September 30, 2014 and December 31, 2013, all of the Company’s cash and cash equivalents and available-for-sale securities were measured at fair value on a recurring basis, and classified as Level 1 in the fair value hierarchy. There were no assets or liabilities measured on a recurring basis where Level 2 or Level 3 valuation techniques were used.
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements
In May 2014, the Financial Accounting Standards Board, or FASB, issued ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09). The standard provides companies with a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the model is to recognize revenue when control of the goods or services transfers to the customer, as opposed to recognizing revenue when the risks and rewards transfer to the customer under the existing revenue guidance. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Early adoption is not permitted. The guidance permits companies to either apply the requirements retrospectively to all prior periods presented, or apply the requirements in the year of adoption, through a cumulative adjustment. The Company is in the process of evaluating the impact of adoption on its consolidated financial statements.
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| Share-Based Compensation |
The Company accounts for share-based compensation arrangements in accordance with the FASB’s Accounting Standards Codification, or ASC, Topic 718, Compensation—Stock Compensation, or ASC 718, and ASC 505-50, Equity — Equity Based Payments to Non-Employees.
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| Marketable Securities Available for Sale | As of September 30, 2014, all of the Company’s available-for-sale securities have original contractual maturities up to 24 months. However, the Company may or may not hold securities with stated maturities greater than 12 months until maturity. In response to changes in the availability of and the yield on alternative investments as well as liquidity requirements, the Company may sell these securities prior to their stated maturities. As these securities are viewed by the Company as available to support current operations, securities with maturities beyond 12 months are classified as current assets. Due to their short-term maturities, the Company believes that the fair value of its bank deposits approximate their carrying value.
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| Inventories | Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out method for all inventories, which are valued using a weighted average cost method calculated for each production batch. The Company periodically evaluates the carrying value of inventory on hand for potential excess amount over demand using the same lower of cost or market approach as that used to value the inventory. As a result of this evaluation, in both the three and nine months ended September 30, 2014, the Company recorded a charge of $2.2 million for finished goods and certain non-API raw materials on hand in excess of demand. During the three months ended September 30, 2013, there was no inventory impairment charge. During the nine months ended September 30, 2013, the Company recorded a charge of $10.2 million for inventories on hand in excess of demand. These charges are included in inventory impairment and other non-recurring charges on the condensed consolidated statement of operations.
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| Earnings Per Share | The Company computes basic net income (loss) per share applicable to common stockholders based on the weighted average number of common shares outstanding during the period. Diluted net income per share is based on the weighted average number of common and common equivalent shares, which represent shares that may be issued in the future upon the exercise of outstanding stock options or upon a net share settlement of the Company’s Convertible Notes. Common share equivalents are excluded from the computation in periods in which they have an anti-dilutive effect. Stock options for which the price exceeds the average market price over the period have an anti-dilutive effect on net income per share and, accordingly, are excluded from the calculation. The triggering conversion conditions that allow holders of the Convertible Notes to convert have not been met. If such conditions are met and the note holders opt to convert, the Company may choose to pay in cash, common stock, or a combination thereof; however, if this occurs, the Company has the intent and ability to net share settle this debt security; thus the Company uses the treasury stock method for earnings per share purposes. Due to the effect of the capped call instrument purchased in relation to the Convertible Notes, there would be no net shares issued until the market value of the Company’s stock exceeds $20 per share, and thus no impact on diluted net income per share. Further, when there is a net loss, potentially dilutive common equivalent shares are not included in the calculation of net loss per share since their inclusion would be anti-dilutive.
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| Income Taxes | The Company assesses the likelihood that it will be able to recover its deferred tax assets on a quarterly basis. The Company considers all available evidence, both positive and negative, including historical levels of income, expectations and risks associated with estimates of future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance. If it is not more likely than not that the Company will recover its deferred tax assets, the Company will increase its provision for taxes by recording a valuation allowance against the deferred tax assets that the Company estimates will not ultimately be recoverable. As a result of the Company’s analysis of all available evidence, both positive and negative, as of December 31, 2013, it was considered more likely than not that the Company’s deferred tax assets would not be realized. However, should there be a change in the Company’s ability to recover its deferred tax assets, the Company would recognize a benefit to its tax provision in the period in which the Company determines that it is more likely than not that it will recover its deferred tax assets.
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). No definition available.
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for reporting any exceptions to the comparability of prior year financial data with data shown for the most recent accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for investments in debt and equity securities that are classified as available-for-sale. This policy also may describe the entity's accounting treatment for transfers between investment categories, how the entity determines whether impairments of available-for-sale securities are other than temporary, and how the fair values of such securities are determined. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SHARE-BASED COMPENSATION (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| SHARE-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of share-based compensation expense | Total share-based compensation expense for all of the Company’s share-based awards is as follows (in thousands):
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- Definition
Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of fair value and amortized cost of cash, cash equivalents, and available-for-sale securities by major security type |
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of cash, cash equivalents, and investments. No definition available.
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ACCOUNTS RECEIVABLE (Tables)
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Sep. 30, 2014
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| ACCOUNTS RECEIVABLE | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of accounts receivable | Accounts receivable consist of (in thousands):
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- Definition
Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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INVENTORIES (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| INVENTORIES | |||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of inventory | Inventories consist of (in thousands):
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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PREPAID EXPENSES AND OTHER ASSETS (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| PREPAID EXPENSES AND OTHER ASSETS | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of prepaid expenses and other assets | Prepaid expenses and other assets consist of (in thousands):
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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NON-CURRENT ASSETS (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| NON-CURRENT ASSETS | |||||||||||||||||||||||||||||||||||||||||
| Schedule of non-current assets | Non-current assets consist of (in thousands):
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- Definition
Tabular disclosure of noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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ACCRUED AND OTHER LIABILITIES (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| ACCRUED AND OTHER LIABILITIES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of accrued and other liabilities | Accrued and other liabilities consist of (in thousands):
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
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INVENTORY IMPAIRMENT AND OTHER NON-RECURRING CHARGES (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| INVENTORY IMPAIRMENT AND OTHER NON-RECURRING CHARGES | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of inventory impairment and other non-recurring charges | Inventory impairment and other non-recurring charges for the three and nine months ended September 30, 2014 and 2013 consist of (in thousands):
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| Schedule of activities for the Company's and cost reduction plan obligations | The following table presents activities related to a cost reduction plan during the three and nine months ended September 30, 2014 (in thousands):
(1) The accrued facilities-related costs at September 30, 2014 represent estimated losses, net of expected subleases, on space vacated as part of the Company’s cost reduction plan. The noncancelable operating leases and scheduled payments against the amounts accrued extend through May 2020, unless the Company is able to negotiate earlier terminations. (2) In addition to the above non-recurring charges, as previously presented in Note 2, the Company incurred non-cash share-based compensation expense of $0.3 million in the nine months ended September 30, 2014.
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| Schedule of balance of the accrued employee severance and facilities-related costs anticipated to be paid out | The balance of the accrued employee severance and facilities-related costs at September 30, 2014 is anticipated to be paid out as follows (in thousands):
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the nature and financial statement effects of all material events or transactions (that would not reasonably be expected to recur in the foreseeable future) that possesses a high degree of abnormality and are incidentally related to, the ordinary and typical activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the restructuring reserve to be paid for each of the five years following the date of the latest balance sheet date presented. No definition available.
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LONG-TERM DEBT (Tables)
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9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| LONG-TERM DEBT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of debt | The following table summarizes information on the debt (in thousands):
(1) Approximately $6.9 million was classified as current and included in accrued and other current liabilities in the Condensed Consolidated Balance Sheet as of September 30, 2014.
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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SEGMENT INFORMATION (Tables)
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9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2014
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| SEGMENT INFORMATION | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of net product revenue by geographic region | Net product revenue by geographic region was as follows (in thousands):
(1) Consists of revenue attributable to Germany. (2) Includes $30.8 million of revenue attributable to Germany. |
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| X | ||||||||||
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- Definition
Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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SHARE-BASED COMPENSATION (Details) (USD $)
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3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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| SHARE-BASED COMPENSATION | ||||
| Total share-based compensation expense | $ 2,076,000 | $ 15,819,000 | $ 7,768,000 | $ 27,755,000 |
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Cost of goods sold
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||||
| SHARE-BASED COMPENSATION | ||||
| Total share-based compensation expense | 28,000 | 91,000 | ||
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Research and development
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||||
| SHARE-BASED COMPENSATION | ||||
| Total share-based compensation expense | 337,000 | 363,000 | 924,000 | 2,217,000 |
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Selling, general and administrative
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| SHARE-BASED COMPENSATION | ||||
| Total share-based compensation expense | 1,711,000 | 2,740,000 | 6,410,000 | 12,822,000 |
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Non-recurring charges
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| SHARE-BASED COMPENSATION | ||||
| Total share-based compensation expense | 12,716,000 | 343,000 | 12,716,000 | |
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Inventory
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| SHARE-BASED COMPENSATION | ||||
| Share-based compensation cost capitalized as part of cost of inventory | $ 75,000 | $ 467,000 | ||
| X | ||||||||||
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- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt securities classified as available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt securities classified as available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Represents the maturity period of available-for-sale securities. No definition available.
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| X | ||||||||||
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- Definition
No authoritative reference available. No definition available.
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CASH, CASH EQUIVALENTS, AND AVAILABLE-FOR-SALE SECURITIES (Details 2) (Recurring basis, USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
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Dec. 31, 2013
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|---|---|---|
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Level 2
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| Fair value measurements | ||
| Assets where Level 2 or Level 3 valuation techniques were used | $ 0 | $ 0 |
| Liabilities where Level 2 or Level 3 valuation techniques were used | 0 | 0 |
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Level 3
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| Fair value measurements | ||
| Assets where Level 2 or Level 3 valuation techniques were used | 0 | 0 |
| Liabilities where Level 2 or Level 3 valuation techniques were used | $ 0 | $ 0 |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value portion of liability related to investment contracts for example, but not limited to, guaranteed investment contract or annuities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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ACCOUNTS RECEIVABLE (Details) (USD $)
In Thousands, unless otherwise specified |
9 Months Ended | 12 Months Ended |
|---|---|---|
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Sep. 30, 2014
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Dec. 31, 2013
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| Accounts receivable | ||
| Accounts receivable, gross | $ 27,260 | $ 12,348 |
| Accounts receivable, net | 27,099 | 12,214 |
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Qsymia
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| Accounts receivable | ||
| Accounts receivable, gross | 8,533 | 6,777 |
| Allowance for cash discounts | (161) | (134) |
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STENDRA/SPEDRA
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| Accounts receivable | ||
| Accounts receivable, gross | $ 18,727 | $ 5,571 |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amounts due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the allowance for cash discount that may be allowed to the customers on prompt payment. No definition available.
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INVENTORIES (Details) (USD $)
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3 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|
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Sep. 30, 2014
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Sep. 30, 2013
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Sep. 30, 2014
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Sep. 30, 2013
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Dec. 31, 2013
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| Inventory balances | |||||
| Raw materials | $ 30,405,000 | $ 30,405,000 | $ 28,557,000 | ||
| Finished goods | 4,294,000 | 4,294,000 | 14,793,000 | ||
| Deferred costs | 3,406,000 | 3,406,000 | 5,153,000 | ||
| Inventories | 38,105,000 | 38,105,000 | 48,503,000 | ||
| Charge for inventories on hand in excess of demand | $ 2,200,000 | $ 0 | $ 2,200,000 | $ 10,200,000 | |
| X | ||||||||||
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- Definition
Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Gross amount of merchandise or materials to which the entity holds the title, but physically at another entity's facilities (for example, but not limited to, work in process may be temporarily at the site of a subcontractor). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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PREPAID EXPENSES AND OTHER ASSETS (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
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Dec. 31, 2013
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|---|---|---|
| PREPAID EXPENSES AND OTHER ASSETS | ||
| Prepaid sales and marketing expenses | $ 4,054 | $ 5,187 |
| Debt issuance costs | 1,252 | 1,247 |
| Prepaid insurance | 68 | 3,617 |
| Withholding tax receivable | 5,560 | |
| Prepaid expenses and other assets | 5,009 | 4,327 |
| Total | $ 10,383 | $ 19,938 |
| X | ||||||||||
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- Definition
Net amount of current deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of other miscellaneous assets expected to be realized or consumed within one year or operating cycle, if longer. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for insurance that provides economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for income and other taxes that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of amounts paid in advance for sales and marketing expenses which will be conducted within one year or the normal operating cycle, if longer. No definition available.
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NON-CURRENT ASSETS (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
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Dec. 31, 2013
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|---|---|---|
| NON-CURRENT ASSETS | ||
| Debt issuance costs | $ 3,682 | $ 4,620 |
| Other non-current assets | 4,175 | 1,281 |
| Total | $ 7,857 | $ 5,901 |
| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Net amount of long-term deferred finance costs capitalized at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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ACCRUED AND OTHER LIABILITIES (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
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Dec. 31, 2013
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|---|---|---|
| ACCRUED AND OTHER LIABILITIES | ||
| Accrued interest expense | $ 6,116 | $ 5,541 |
| Non-recurring charges (see Note 10) | 3,856 | 4,577 |
| Current portion of long-term debt | 6,899 | |
| Accrued employee compensation and benefits | 3,604 | 3,408 |
| Accrued manufacturing costs | 153 | 4,071 |
| Other accrued liabilities | 8,636 | 6,396 |
| Total | $ 29,264 | $ 23,993 |
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the carrying value as of the balance sheet date of obligations incurred and payable, pertaining to manufacturing costs. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
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NON-CURRENT ACCRUED AND OTHER LIABILITIES (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
|
Dec. 31, 2013
|
|---|---|---|
| Restructuring charges | ||
| Non-current accrued and other liabilities | $ 1,553 | $ 2,954 |
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Non-current accrued and other liabilities
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| Restructuring charges | ||
| Non-current accrued and other liabilities | $ 1,600 | $ 3,000 |
| X | ||||||||||
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- Definition
Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due after one year (or beyond the operating cycle if longer), including liabilities for compensation costs, fringe benefits other than pension and postretirement obligations, rent, contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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INVENTORY IMPAIRMENT AND OTHER NON-RECURRING CHARGES (Details) (USD $)
|
3 Months Ended | 9 Months Ended | 0 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2014
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Jun. 30, 2014
|
Mar. 31, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Dec. 31, 2013
|
May 01, 2014
Evelyn lease
sqft
|
Sep. 30, 2014
Evelyn lease
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May 01, 2014
Evelyn lease
Minimum
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May 01, 2014
Evelyn lease
Maximum
|
Sep. 01, 2014
Castro Lease
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Sep. 30, 2014
Castro Lease
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Sep. 01, 2014
Castro Lease
sqft
|
Sep. 30, 2014
Non-recurring charges
|
Sep. 30, 2014
Non-recurring charges
|
Sep. 30, 2013
Non-recurring charges
|
Sep. 30, 2014
Non-recurring charges
|
Sep. 30, 2013
Non-recurring charges
|
Sep. 30, 2014
Cost of goods sold
|
Sep. 30, 2014
Cost of goods sold
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Sep. 30, 2014
Non-current assets
|
Sep. 30, 2014
Patents
|
Sep. 30, 2014
Patents
Non-recurring charges
|
Sep. 30, 2014
Severance obligations
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Jun. 30, 2014
Severance obligations
|
Mar. 31, 2014
Severance obligations
|
Sep. 30, 2014
Facilities-related obligations
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Jun. 30, 2014
Facilities-related obligations
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Mar. 31, 2014
Facilities-related obligations
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| Inventory impairment and other non-recurring charges | ||||||||||||||||||||||||||||||
| Inventory impairment | $ 2,200,000 | $ 0 | $ 2,200,000 | $ 10,200,000 | $ 2,170,000 | $ 2,170,000 | $ 10,225,000 | |||||||||||||||||||||||
| Patent settlement | 1,949,000 | 1,949,000 | ||||||||||||||||||||||||||||
| Share-based compensation | 2,076,000 | 15,819,000 | 7,768,000 | 27,755,000 | 300,000 | 12,716,000 | 343,000 | 12,716,000 | 28,000 | 91,000 | ||||||||||||||||||||
| Proxy contest expenses | 5,155,000 | 8,863,000 | ||||||||||||||||||||||||||||
| Employee severance and related costs | 2,872,000 | 1,711,000 | 2,872,000 | |||||||||||||||||||||||||||
| Operating lease termination costs | 216,000 | |||||||||||||||||||||||||||||
| Total inventory impairment and other non-recurring expense | 4,119,000 | 20,743,000 | 6,173,000 | 34,892,000 | 4,119,000 | 20,743,000 | 6,173,000 | 34,892,000 | 1,900,000 | |||||||||||||||||||||
| Payments for acquisition | 5,000,000 | |||||||||||||||||||||||||||||
| Total non-recurring expense | 4,119,000 | 20,743,000 | 6,173,000 | 34,892,000 | 4,119,000 | 20,743,000 | 6,173,000 | 34,892,000 | 1,900,000 | |||||||||||||||||||||
| Cost recognized | 100,000 | |||||||||||||||||||||||||||||
| Remaining balance not yet recognized | 3,100,000 | |||||||||||||||||||||||||||||
| Cost recognized | 3,000,000 | |||||||||||||||||||||||||||||
| Estimated amortization period | 5 years 6 months | |||||||||||||||||||||||||||||
| Activity for the Company's cost reduction plan obligations | ||||||||||||||||||||||||||||||
| Balance of accrued costs at the beginning of the period | 6,098,000 | 7,403,000 | 7,531,000 | 7,531,000 | 5,475,000 | 6,561,000 | 6,509,000 | 623,000 | 842,000 | 1,022,000 | ||||||||||||||||||||
| Charges | 1,711,000 | 1,711,000 | ||||||||||||||||||||||||||||
| Payments | (969,000) | (1,305,000) | (1,839,000) | (944,000) | (1,086,000) | (1,659,000) | (25,000) | (219,000) | (180,000) | |||||||||||||||||||||
| Balance of accrued costs at the end of the period | 5,129,000 | 6,098,000 | 7,403,000 | 5,129,000 | 4,531,000 | 5,475,000 | 6,561,000 | 598,000 | 623,000 | 842,000 | ||||||||||||||||||||
| Area of property (in square feet) | 14,105 | 4,914 | ||||||||||||||||||||||||||||
| Period of lease | 36 months | 31 months | ||||||||||||||||||||||||||||
| Annual rental rate (in dollars per square foot) | 42 | 53 | ||||||||||||||||||||||||||||
| Abatement period of monthly installments of rent | 1 month | 4 months | ||||||||||||||||||||||||||||
| Future minimum lease payments under operating leases | ||||||||||||||||||||||||||||||
| 2014 (remaining three months) | 146,000 | 65,000 | ||||||||||||||||||||||||||||
| 2015 | 601,000 | 261,000 | ||||||||||||||||||||||||||||
| 2016 | 626,000 | 266,000 | ||||||||||||||||||||||||||||
| 2017 | 212,000 | 68,000 | ||||||||||||||||||||||||||||
| Additional disclosures | ||||||||||||||||||||||||||||||
| Accrued severance and facilities-related costs, Current | 3,856,000 | 3,856,000 | 4,577,000 | |||||||||||||||||||||||||||
| Accrued severance and facilities-related costs, Non-current | 1,300,000 | 1,300,000 | ||||||||||||||||||||||||||||
| Restructuring accrual anticipated to be paid out | ||||||||||||||||||||||||||||||
| 2014 (remaining three months) | 1,270,000 | 1,270,000 | ||||||||||||||||||||||||||||
| 2015 | 3,231,000 | 3,231,000 | ||||||||||||||||||||||||||||
| 2016 | 260,000 | 260,000 | ||||||||||||||||||||||||||||
| 2017 | 341,000 | 341,000 | ||||||||||||||||||||||||||||
| 2018 | 11,000 | 11,000 | ||||||||||||||||||||||||||||
| Thereafter | 16,000 | 16,000 | ||||||||||||||||||||||||||||
| Total | $ 5,129,000 | $ 6,098,000 | $ 7,403,000 | $ 5,129,000 | $ 4,531,000 | $ 5,475,000 | $ 6,561,000 | $ 598,000 | $ 623,000 | $ 842,000 | ||||||||||||||||||||
| X | ||||||||||
|
- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Area of a real estate property. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Includes, but is not limited to, one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and termination benefits associated with an ongoing benefit arrangement. Excludes expenses associated with special or contractual termination benefits, a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in assets, excluding financial assets, lacking physical substance with a definite life, resulting from a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Remaining amortization period of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the remainder of the fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of cash paid for the settlement of litigation or for other legal issues during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash payments made as the result of exit or disposal activities. Excludes payments associated with a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow to acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of known and estimated costs associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid after one year or beyond the next operating cycle, if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate amount provided for estimated restructuring charges, remediation costs, and asset impairment loss during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the abatement period of the monthly installments of rent under an operating lease. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the annual rental rate per square foot under the operating lease. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the period for the lease term in number of months or years. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the expenses incurred by the entity which are directly related and attributable to the proxy contest. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Represents the amount of payments made as the result of exit or disposal activities after the fifth fiscal year following the latest fiscal year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of payments made as the result of exit or disposal activities in the fifth fiscal year following the latest fiscal year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of payments made as the result of exit or disposal activities in the fourth year following the latest fiscal year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of payments made as the result of exit or disposal activities in the third fiscal year following the latest fiscal year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of payments made as the result of exit or disposal activities in the second fiscal year following the latest fiscal year. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of payments made as the result of exit or disposal activities in the remainder of the fiscal year following the latest fiscal year. No definition available.
|
|
DEFERRED REVENUE (Details) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
|
Dec. 31, 2013
|
|---|---|---|
| DEFERRED REVENUE | ||
| Current deferred revenue | $ 20,243 | $ 17,255 |
| Non-Current deferred revenue | 9,466 | 10,360 |
|
Upfront payments | Qsymia
|
||
| DEFERRED REVENUE | ||
| Current deferred revenue | 16,300 | |
|
License and commercialization agreement | Royalties | SPEDRA
|
||
| DEFERRED REVENUE | ||
| Current deferred revenue | 3,900 | |
| Non-Current deferred revenue | 9,500 | |
|
License and commercialization agreement | Royalties | STENDRA or SPEDRA
|
||
| DEFERRED REVENUE | ||
| Current deferred revenue | $ 2,800 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LICENSE, COMMERCIALIZATION AND SUPPLY AGREEMENTS (Details) (USD $)
|
3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2014
|
Sep. 30, 2014
STENDRA/SPEDRA
|
Sep. 30, 2014
STENDRA/SPEDRA
|
Dec. 31, 2013
License and commercialization agreement
SPEDRA
Menarini Group
Minimum
item
|
Sep. 30, 2014
License and commercialization agreement
STENDRA/SPEDRA
Menarini Group
|
Sep. 30, 2014
License and commercialization agreement
STENDRA/SPEDRA
Menarini Group
|
Sep. 30, 2014
License and commercialization agreement
STENDRA/SPEDRA
Menarini Group, Auxilum, and Sanofi
|
Sep. 30, 2014
License and commercialization agreement
STENDRA/SPEDRA
Menarini Group, Auxilum, and Sanofi
|
Sep. 30, 2014
License and commercialization agreement
STENDRA/SPEDRA
Menarini Group and Auxilum
|
Sep. 30, 2014
License and commercialization agreement
STENDRA/SPEDRA
Menarini Group and Auxilum
|
|
| License, commercialization and supply agreements | |||||||||||
| Number of European countries covered under the license agreement | 40 | ||||||||||
| License and milestone revenue | $ 15,100,000 | $ 38,600,000 | |||||||||
| Supply revenue | 5,300,000 | 18,336,000 | 5,300,000 | 18,336,000 | 5,300,000 | 18,300,000 | |||||
| Royalty revenue | $ 1,053,000 | $ 2,924,000 | $ 1,053,000 | $ 2,924,000 | $ 1,100,000 | $ 2,900,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Revenue from multiple-deliverable arrangements that include licensing fees and services revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. Services revenue may be derived by providing other, nonspecified, services during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the number of European countries covered under the license and commercialization agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the amount of revenue from supply during the period. No definition available.
|
|
LONG-TERM DEBT (Details) (USD $)
|
9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Sep. 30, 2013
|
May 29, 2013
Convertible Senior Notes Due 2020
|
Sep. 30, 2014
Convertible Senior Notes Due 2020
|
Sep. 30, 2013
Convertible Senior Notes Due 2020
|
Sep. 30, 2014
Convertible Senior Notes Due 2020
|
Sep. 30, 2013
Convertible Senior Notes Due 2020
|
May 21, 2013
Convertible Senior Notes Due 2020
|
Sep. 30, 2014
Senior Secured Notes Due 2018
Purchase of a debt-like instrument from BioPharma
|
Sep. 30, 2013
Senior Secured Notes Due 2018
Purchase of a debt-like instrument from BioPharma
|
Sep. 30, 2014
Senior Secured Notes Due 2018
Purchase of a debt-like instrument from BioPharma
|
Sep. 30, 2013
Senior Secured Notes Due 2018
Purchase of a debt-like instrument from BioPharma
|
Apr. 09, 2013
Senior Secured Notes Due 2018
Purchase of a debt-like instrument from BioPharma
Initial closing
|
Mar. 25, 2013
Senior Secured Notes Due 2018
Purchase of a debt-like instrument from BioPharma
Secondary closing
|
|
| Long-term debt | |||||||||||||
| Amount of offering | $ 30,000,000 | $ 220,000,000 | |||||||||||
| Interest rate (as a percent) | 4.50% | ||||||||||||
| Net proceeds from offering | 290,247,000 | 241,800,000 | |||||||||||
| Total interest expense recognized | 6,300,000 | 5,700,000 | 18,600,000 | 8,100,000 | 1,900,000 | 1,700,000 | 5,700,000 | 3,200,000 | |||||
| Amortization of debt discount | 3,700,000 | 3,400,000 | 10,900,000 | 5,900,000 | |||||||||
| Amortization of deferred financing costs | 202,000 | 182,000 | 584,000 | 260,000 | 116,000 | 106,000 | 354,000 | 212,000 | |||||
| Amount received | 50,000,000 | ||||||||||||
| Amount received in funding and facility payments | 500,000 | ||||||||||||
| Additional discretionary amount receivable | 60,000,000 | ||||||||||||
| Additional discretionary amount receivable in funding and facility payments | $ 600,000 | ||||||||||||
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from additional borrowings, net of cash paid to third parties in connection with debt origination. No definition available.
|
| X | ||||||||||
|
- Definition
Face (par) amount of debt instruments at time of issuance. No definition available.
|
| X | ||||||||||
|
- Definition
Additional discretionary amount receivable at the option of the entity under the terms of purchase and sale agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Additional discretionary amount receivable in funding and facility payments at the option of the entity under the terms of purchase and sale agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Amount received under the terms of purchase and sale agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Amount received in funding and facility payments under the terms of purchase and sale agreement. No definition available.
|
|
LONG-TERM DEBT (Details 2) (USD $)
In Thousands, unless otherwise specified |
Sep. 30, 2014
|
|---|---|
| Long-term debt | |
| Fair value of the liability component at issuance date | $ 204,737 |
| Accumulated accretion of discount | 19,271 |
| Net carrying amount | 224,008 |
| Debt classified as current | 6,899 |
|
Convertible Senior Notes Due 2020
|
|
| Long-term debt | |
| Fair value of the liability component at issuance date | 154,737 |
| Accumulated accretion of discount | 19,271 |
| Net carrying amount | 174,008 |
|
Senior Secured Notes Due 2018
|
|
| Long-term debt | |
| Net carrying amount | $ 50,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
|
NET INCOME (LOSS) PER SHARE (Details) (USD $)
|
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
|
| NET INCOME (LOSS) PER SHARE | ||||
| Equivalent shares of options excluded from computation of diluted net income (loss) per share because they have an anti-dilutive effect | 8,069,865 | 5,626,000 | 8,494,903 | 6,026,000 |
|
Convertible Notes
|
||||
| Net income (loss) per share | ||||
| Net shares issued | 0 | |||
| Minimum stock price to trigger conversion of debt (in dollars per share) | $ 20 | |||
| Dilutive Securities impact on diluted net income (in dollars per share) | $ 0 | |||
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of shares issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Price of the entity's common stock which would be required to be attained for the conversion feature embedded in the debt instrument to become effective. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) to diluted net earnings per share (EPS), resulting from the assumed exercise of dilutive convertible securities excluding adjustments related to ESOP convertible preferred stock, stock options, and restrictive stock units. No definition available.
|
| X | ||||||||||
|
- Details
|
|
INCOME TAXES (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
|
Sep. 30, 2013
|
|
| INCOME TAXES | ||||
| Income tax (benefit) provisions | $ (222) | $ 33 | $ (660) | $ 46 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
LEGAL MATTERS (Details) (USD $)
In Millions, unless otherwise specified |
0 Months Ended | 9 Months Ended | |
|---|---|---|---|
|
Mar. 27, 2014
Securities fraud lawsuit
item
|
Mar. 27, 2014
Securities fraud lawsuit
Minimum
|
Sep. 30, 2014
Qsymia ANDA Litigation
Qsymia
item
|
|
| LEGAL MATTERS | |||
| Amount of damages sought | $ 2.8 | ||
| Number of former officers and directors against whom complaint is filed | 3 | ||
| Number of patents-in-suit | 6 | ||
| Period from receipt of certification notice until which FDA approval of ANDA will be stayed | 30 months |
| X | ||||||||||
|
- Definition
Number of entity's patents that another entity has allegedly infringed. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The value (monetary amount) of the award the plaintiff seeks in the legal matter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Represents the number of former officers and directors against whom complaint is filed. No definition available.
|
| X | ||||||||||
|
- Definition
Represents the period from receipt of certification notice until which FDA approval of ANDA will be stayed. No definition available.
|
|
SEGMENT INFORMATION (Details) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Sep. 30, 2014
|
Sep. 30, 2013
|
Sep. 30, 2014
item
|
Sep. 30, 2013
|
|
| SEGMENT INFORMATION | ||||
| Number of operating segments | 1 | |||
| Segment information | ||||
| Net product revenue | $ 12,454 | $ 6,379 | $ 32,575 | $ 16,025 |
| License and milestone revenue | 15,070 | 21,000 | 38,614 | 21,000 |
| Supply revenue | 5,300 | 18,336 | ||
| Royalty revenue | 1,053 | 2,924 | ||
| Total revenue | 33,877 | 27,379 | 92,449 | 37,025 |
|
U.S.
|
||||
| Segment information | ||||
| Total revenue | 29,327 | 6,379 | 56,510 | 16,025 |
|
ROW
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| Segment information | ||||
| Total revenue | 4,550 | 21,000 | 35,939 | 21,000 |
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Qsymia
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| Segment information | ||||
| Net product revenue | 12,454 | 6,379 | 32,575 | 16,025 |
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Qsymia | U.S.
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| Segment information | ||||
| Net product revenue | 12,454 | 6,379 | 32,575 | 16,025 |
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STENDRA/SPEDRA
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| Segment information | ||||
| License and milestone revenue | 15,070 | 21,000 | 38,614 | 21,000 |
| Supply revenue | 5,300 | 18,336 | ||
| Royalty revenue | 1,053 | 2,924 | ||
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STENDRA/SPEDRA | U.S.
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| Segment information | ||||
| License and milestone revenue | 15,000 | 15,406 | ||
| Supply revenue | 1,222 | 6,628 | ||
| Royalty revenue | 651 | 1,901 | ||
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STENDRA/SPEDRA | ROW
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| Segment information | ||||
| License and milestone revenue | 70 | 21,000 | 23,208 | 21,000 |
| Supply revenue | 4,078 | 11,708 | ||
| Royalty revenue | 402 | 1,023 | ||
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STENDRA/SPEDRA | Germany
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| Segment information | ||||
| Total revenue | $ 30,800 | |||
| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
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| X | ||||||||||
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- Definition
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue during the period from the sale of goods in the normal course of business, after deducting returns, allowances and discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Revenue from multiple-deliverable arrangements that include licensing fees and milestone revenue. Licensing revenue is consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. The amount of consideration recognized during the period for the milestone or milestones. No definition available.
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| X | ||||||||||
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- Definition
Represents the amount of revenue from supply during the period. No definition available.
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