| Segment Information |
18. Segment Information
The Company operates in two reportable segments, Dermatology Product Sales and Pharmaceutical and Biotechnology Product Development. The accounting policies of the Company’s segments are the same as those described in Note 2. Prior to the sale of National the Company operated in three segments, one of which included National, see Note 3. The following tables summarize, for the periods indicated, operating results, from continued operations by reportable segment:
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Pharmaceutical
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and
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Dermatology
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Biotechnology
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($ in thousands)
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Products
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Product
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Three Months Ended June 30, 2019
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Sales
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Development
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Consolidated
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Net Revenue
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$
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8,199
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$
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1,051
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$
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9,250
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Direct cost of goods
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(2,386)
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—
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(2,386)
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Sales and marketing costs
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(4,202)
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—
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(4,202)
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Research and development(1)
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—
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(18,711)
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(18,711)
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General and administrative
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(747)
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(8,494)
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(9,241)
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Segment income (loss) from operations
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$
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864
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$
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(26,154)
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$
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(25,290)
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Segment assets
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$
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9,313
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$
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217,951
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$
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227,264
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Pharmaceutical
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and
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Dermatology
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Biotechnology
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($ in thousands)
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Products
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Product
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Three Months Ended June 30, 2018
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Sales
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Development
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Consolidated
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Net Revenue
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$
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6,689
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126
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$
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6,815
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Direct cost of goods
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(1,668)
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—
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(1,668)
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Sales and marketing costs
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(2,910)
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—
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(2,910)
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Research and development(1)
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—
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(17,489)
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(17,489)
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General and administrative
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(383)
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(9,763)
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(10,146)
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Segment income (loss) from operations
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1,728
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(27,126)
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(25,398)
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Segment assets
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$
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11,307
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$
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159,763
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$
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171,070
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Assets held for sale
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65,796
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Total consolidated
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236,866
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Pharmaceutical
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and
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Dermatology
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Biotechnology
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($ in thousands)
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Products
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Product
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Six Months Ended June 30, 2019
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Sales
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Development
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Consolidated
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Net Revenue
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$
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14,324
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$
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1,403
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$
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15,727
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Direct cost of goods
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(4,270)
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—
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(4,270)
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Sales and marketing costs
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(7,695)
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—
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(7,695)
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Research and development(1)
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—
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(42,434)
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(42,434)
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General and administrative
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(1,139)
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(18,087)
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(19,226)
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Segment income (loss) from operations
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$
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1,220
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$
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(59,118)
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$
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(57,898)
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Segment assets
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$
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9,313
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$
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217,951
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$
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227,264
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Pharmaceutical
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and
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Dermatology
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Biotechnology
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($ in thousands)
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Products
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Product
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Six Months Ended June 30, 2018
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Sales
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Development
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Consolidated
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Net Revenue
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$
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12,198
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$
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520
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$
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12,718
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Direct cost of goods
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(3,140)
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—
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(3,140)
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Sales and marketing costs
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(5,670)
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—
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(5,670)
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Research and development(1)
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—
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(42,544)
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(42,544)
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General and administrative
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(783)
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(20,151)
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(20,934)
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Segment loss from operations
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$
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2,605
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(62,175)
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$
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(59,570)
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Segment assets
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$
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11,307
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159,763
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$
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171,070
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Assets held for sale
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65,796
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Total consolidated
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236,866
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Note 1: Research and development includes the cost of licenses acquired.
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