Impax Laboratories (IPXL) 10-K 1 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 17, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	IMPAX LABORATORIES INC
Trading Symbol	ipxl
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding (in shares)		73,748,155
Entity Public Float			$ 1,864,428,000
Amendment Flag	false
Amendment Flag	1,003,642
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 180,133	$ 340,351
Accounts receivable, net	257,368	324,451
Inventory, net	175,230	125,582
Prepaid expenses and other current assets	18,410	31,689
Total current assets	631,141	822,073
Property, plant and equipment, net	233,372	214,156
Intangible assets, net	620,466	602,020
Goodwill	207,329	210,166
Deferred income taxes, net	69,866	315
Other non-current assets	60,844	73,757
Total assets	1,823,018	1,922,487
Current liabilities:
Accounts payable	58,952	56,325
Accrued expenses	231,011	204,711
Accrued profit sharing and royalty expenses	13,642	65,725
Current portion of long-term debt, net	17,719	0
Total current liabilities	321,324	326,761
Long-term debt, net	813,545	424,595
Deferred income taxes	0	72,770
Other non-current liabilities	64,175	35,952
Total liabilities	1,199,044	860,078
Commitments and contingencies (Note 21)
Stockholders’ equity:
Preferred stock, $0.01 par value; 2,000,000 shares authorized; No shares issued or outstanding at December 31, 2016 and 2015	0	0
Common stock, $0.01 par value; 150,000,000 shares authorized; 73,948,340 issued and 73,704,611 outstanding shares at December 31, 2016; 72,926,205 issued and 72,682,476 outstanding shares at December 31, 2015	739	729
Treasury stock at cost: 243,729 shares at December 31, 2016 and 2015	(2,157)	(2,157)
Additional paid-in capital	535,056	504,077
Retained earnings	98,192	570,223
Accumulated other comprehensive loss	(7,856)	(10,463)
Total stockholders’ equity	623,974	1,062,409
Total liabilities and stockholders’ equity	$ 1,823,018	$ 1,922,487

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares outstanding (in shares)	0	0
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	73,948,340	72,926,205
Common stock, outstanding (in shares)	73,704,611	72,682,476
Treasury stock, shares (in shares)	243,729	243,729

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Total revenues	$ 824,429	$ 860,469	$ 596,049
Cost of revenues	486,899	500,762	280,520
Cost of revenues impairment charges	488,632	7,303	2,876
Gross (loss) profit	(151,102)	352,404	312,653
Operating expenses:
Selling, general and administrative	201,830	201,287	139,390
Research and development	80,466	70,622	78,642
In-process research and development impairment charges	52,965	6,360	0
Patent litigation	7,819	4,567	5,805
Total operating expenses	343,080	282,836	223,837
(Loss) income from operations	(494,182)	69,568	88,816
Other income (expense):
Interest expense	(41,441)	(27,268)	(43)
Interest income	1,022	1,042	1,473
Reserve for Turing receivable	(40,312)	0	0
Gain on sale of asset	0	45,574	0
Loss on debt extinguishment	0	(16,903)	0
Net change in fair value of derivatives	0	(13,000)	0
Other, net	(1,412)	355	313
(Loss) income before income taxes	(576,325)	59,368	90,559
(Benefit from) provision for income taxes	(104,294)	20,371	33,206
Net (loss) income	$ (472,031)	$ 38,997	$ 57,353
Net (loss) income per common share:
Basic (in dollars per share)	$ (6.63)	$ 0.56	$ 0.84
Diluted (in dollars per share)	$ (6.63)	$ 0.54	$ 0.81
Weighted-average common shares outstanding:
Basic (in shares)	71,147,397	69,640,417	68,185,552
Diluted (in shares)	71,147,397	72,027,344	70,530,349
Impax Generics, net
Revenues:
Total revenues	$ 606,320	$ 710,932	$ 549,082
Impax Specialty Pharma, net
Revenues:
Total revenues	$ 218,109	$ 149,537	$ 46,967

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Income (Loss) Attributable to Parent [Abstract]
Net (loss) income	$ (472,031)	$ 38,997	$ 57,353
Other comprehensive (loss) income component:
Currency translation adjustments	2,607	(4,454)	(7,149)
Comprehensive (loss) income	$ (469,424)	$ 34,543	$ 50,204

Consolidated Statements of Chan

Consolidated Statements of Changes In Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2013		69,684
Beginning balance at Dec. 31, 2013	$ 810,203	$ 699	$ (2,157)	$ 336,648	$ 473,873	$ 1,140
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	57,353				57,353
Other comprehensive loss:
Currency translation adjustments	(7,149)					(7,149)
Exercises of stock options, issuance of restricted stock and sale of common stock under ESPP (in shares)		1,544
Exercises of stock options, issuances of restricted stock and sales of common stock under ESPP	3,270	$ 15		3,255
Share-based compensation	20,883			20,883
Tax benefit related to exercises of stock options and vestings of restricted stock	3,317			3,317
Ending balance (in shares) at Dec. 31, 2014		71,228
Ending balance at Dec. 31, 2014	887,877	$ 714	(2,157)	364,103	531,226	(6,009)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	38,997				38,997
Other comprehensive loss:
Currency translation adjustments	(4,454)					(4,454)
Exercises of stock options, issuance of restricted stock and sale of common stock under ESPP (in shares)		1,698
Exercises of stock options, issuances of restricted stock and sales of common stock under ESPP	(3,518)	$ 15		(3,533)
Share-based compensation	28,613			28,613
Sale of warrants	88,320			88,320
Reclassification of derivatives to equity, net of related taxes	21,038			21,038
Tax benefit related to exercises of stock options and vestings of restricted stock	5,536			5,536
Ending balance (in shares) at Dec. 31, 2015		72,926
Ending balance at Dec. 31, 2015	1,062,409	$ 729	(2,157)	504,077	570,223	(10,463)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(472,031)				(472,031)
Other comprehensive loss:
Currency translation adjustments	2,607					2,607
Exercises of stock options, issuance of restricted stock and sale of common stock under ESPP (in shares)		1,022
Exercises of stock options, issuances of restricted stock and sales of common stock under ESPP	(602)	$ 10		(612)
Share-based compensation	32,180			32,180
Tax expense related to exercises of stock options and vestings of restricted stock	(589)			(589)
Ending balance (in shares) at Dec. 31, 2016		73,948
Ending balance at Dec. 31, 2016	$ 623,974	$ 739	$ (2,157)	$ 535,056	$ 98,192	$ (7,856)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Cash flows from operating activities:
Net (loss) income	$ (472,031)	$ 38,997	$ 57,353
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	88,348	68,637	34,026
Non-cash interest expense	22,845	11,230	0
Share-based compensation expense	32,180	28,613	20,883
Tax expense (benefit) from employees’ exercises of stock options and vestings of restricted stock awards	589	(5,536)	(3,317)
Deferred income taxes, net and uncertain tax positions	(127,405)	(29,558)	(11,810)
Intangible asset impairment charges	541,597	13,664	2,876
Accrued profit sharing and royalty expenses, net of payments	(52,083)	44,306	3,786
Reserve for Turing receivable	40,312	0	0
Gain on sale of asset	0	(45,574)	0
Loss on debt extinguishment	0	16,903	0
Net change in fair value of derivatives	0	13,000	0
Recognition of deferred revenue	0	(4,310)	(3,939)
Other	2,678	(81)	1,226
Changes in certain assets and liabilities:
Accounts receivable	26,771	(121,110)	(33,497)
Inventory	(45,561)	(14,035)	(16,338)
Prepaid expenses and other assets	(573)	9,330	(9,952)
Accounts payable and accrued expenses	14,292	48,106	(8,980)
Other liabilities	2,638	(656)	500
Net cash provided by operating activities	74,597	71,926	32,817
Cash flows from investing activities:
Payment for business acquisition (prior year net of cash acquired)	(585,800)	(691,348)	0
Purchases of property, plant and equipment	(49,402)	(25,199)	(29,913)
Proceeds from sales of property, plant and equipment	1,360	0	0
Payments for licensing agreements	(3,500)	(5,850)	(13,000)
Investment in cash surrender value of insurance	(4,750)	(4,750)	(3,000)
Proceeds from repayment of Tolmar loan	15,000	0	0
Proceeds from sale of intangible assets	0	59,546	0
Maturities of short-term investments	0	200,064	395,404
Purchases of short-term investments	0	0	(366,092)
Net cash used in investing activities	(627,092)	(467,537)	(16,601)
Cash flows from financing activities:
Proceeds from sale of convertible notes	0	600,000	0
Proceeds from issuance of term loan	400,000	435,000	0
Repayment of term loan	(5,000)	(435,000)	0
Payment of deferred financing fees	(11,867)	(36,941)	0
Purchase of bond hedge derivative asset	0	(147,000)	0
Proceeds from sale of warrants	0	88,320	0
Tax (expense) benefit from employees’ exercises of stock options and vestings of restricted stock awards	(589)	5,536	3,317
Proceeds from exercises of stock options and ESPP	9,239	11,472	11,097
Net cash provided by financing activities	391,783	521,387	14,414
Effect of exchange rate changes on cash and cash equivalents	494	(298)	(369)
Net (decrease) increase in cash and cash equivalents	(160,218)	125,478	30,261
Cash and cash equivalents, beginning of year	340,351	214,873	184,612
Cash and cash equivalents, end of year	180,133	340,351	214,873
Supplemental disclosure of cash flow information:
Cash paid for interest	18,139	15,365	17
Cash paid for income taxes, net	23,053	43,223	72,174
Supplemental disclosure of non-cash investing activity:
Fair value of contingent consideration issued in business acquisition	$ 30,100	$ 0	$ 0

DESCRIPTION OF BUSINESS

DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS	DESCRIPTION OF BUSINESS Impax Laboratories, Inc. (“Impax” or the “Company”) is a specialty pharmaceutical company that focuses on developing, manufacturing, marketing and distributing generic and branded pharmaceutical products. The Company has two reportable segments, referred to as “Impax Generics” and “Impax Specialty Pharma.” The Impax Generics division focuses on a broad range of therapeutic areas, including products having technically challenging drug-delivery mechanisms or unique product formulations. In addition to developing solid oral dosage products, the Impax Generic division’s portfolio includes alternative dosage form products, primarily through alliance and collaboration agreements with third parties. The Company’s Impax Specialty Pharma division is focused on the development and promotion, through the Company’s specialty sales force, of proprietary branded pharmaceutical products for the treatment of central nervous system (“CNS”) disorders and other select specialty segments. Operating and Reporting Structure The Company currently operates in two divisions: the Impax Generics division and the Impax Specialty Pharma division. The Impax Generics division includes the Company’s legacy Global Pharmaceuticals business as well as the acquired businesses of CorePharma, LLC ("CorePharma") and Lineage Therapeutics, Inc. ("Lineage") from the Company's acquisition of Tower Holdings, Inc. ("Tower") and its subsidiaries on March 9, 2015 (the "Tower Acquisition"). The Impax Specialty Pharma division includes the legacy Impax Pharmaceuticals business as well as the acquired business of Amedra Pharmaceuticals, LLC ("Amedra") from the Tower Acquisition. Impax Generics develops, manufactures, sells, and distributes generic pharmaceutical products primarily through the following four sales channels: the “Impax Generics” sales channel, for generic pharmaceutical prescription products the Company sells directly to wholesalers, large retail drug chains, and others; the “Private Label” sales channel, for generic pharmaceutical over-the-counter (“OTC”) and prescription products the Company sells to unrelated third-party customers who, in turn, sell the product to third parties under their own label; the “Rx Partner” sales channel, for generic prescription products sold through unrelated third-party pharmaceutical entities under their own label pursuant to alliance agreements; and the “OTC Partner” sales channel, for generic pharmaceutical OTC products sold through unrelated third-party pharmaceutical entities under their own labels pursuant to alliance and supply agreements. Revenues from the “Impax Generics” sales channel and the “Private Label” sales channel are reported under the caption “Impax Generics sales, net” in “Note 24. Supplementary Financial Information.” Revenues from the “OTC Partner” sales channel are reported under the caption “Other Revenues” in “Note 24. Supplementary Financial Information.” Impax Specialty Pharma is engaged in the development, sale and distribution of proprietary brand pharmaceutical products that the Company believes represent improvements to already-approved pharmaceutical products addressing CNS disorders and other select specialty segments. Impax Specialty Pharma currently has one internally developed branded pharmaceutical product, Rytary® (IPX066), an extended release oral capsule formulation of carbidopa-levodopa for the treatment of Parkinson’s disease, post-encephalitic parkinsonism, and parkinsonism that may follow carbon monoxide intoxication and/or manganese intoxication, which was approved by the FDA on January 7, 2015 and which the Company began marketing in the United States (“U.S.”) in April 2015. The Company received marketing authorization from the European Commission for Numient® (the brand name of IPX066 outside of the United States) during the fourth quarter of fiscal year 2015. In addition to Rytary®, Impax Specialty Pharma is also currently engaged in the sale and distribution of four other branded products; the more significant include Zomig® (zolmitriptan) products, indicated for the treatment of migraine headaches, under the terms of a Distribution, License, Development and Supply Agreement with AstraZeneca UK Limited (“AstraZeneca”) in the United States and in certain U.S. territories (the "AZ Agreement"), and Emverm® (mebendazole) 100 mg chewable tablets, indicated for the treatment of pinworm, whipworm, common roundworm, common hookworm, and American hookworm in single or mixed infections. Revenues from Impax-labeled branded products are reported under the caption “Impax Specialty Pharma sales, net” in “Note 24. Supplementary Financial Information.” Finally, the Company generated revenue in Impax Specialty Pharma from research and development services provided under a development and license agreement with another unrelated third-party pharmaceutical company (which was terminated by mutual agreement of the parties effective December 23, 2015), and reports such revenue under the caption “Other Revenues” in “Note 24. Supplementary Financial Information.” Impax Specialty Pharma also has a number of product candidates that are in varying stages of development. See “Note 23. Segment Information,” for financial information about our segments for the years ended December 31, 2016 , 2015 and 2014 . Operating Locations The Company owns and/or leases facilities in California, Pennsylvania, New Jersey and Taiwan, Republic of China (“R.O.C.”). In California, the Company utilizes a combination of owned and leased facilities mainly located in Hayward. The Company’s primary properties in California consist of a leased office building used as the Company’s corporate headquarters, in addition to five properties it owns, including a research and development center facility and a manufacturing facility. Additionally, the Company leases two facilities in Hayward, utilized for additional research and development, equipment storage and quality assurance support. In Pennsylvania, the Company leased facilities in Chalfont, Montgomeryville, and Horsham used for sales and marketing, finance, and administrative personnel. During September 2016, the Company consolidated the three Pennsylvania locations into a new leased facility located in Fort Washington, Pennsylvania. In addition, the Company previously owned a packaging plant in Philadelphia, Pennsylvania that was closed and sold in February 2016 in conjunction with the Company's restructuring of its packaging and distribution operations announced in June 2015 and discussed below in "Note 18. Restructurings." In New Jersey, the Company leases manufacturing, packaging, research and development and warehousing facilities in Middlesex, New Jersey and office space in Bridgewater, New Jersey. Outside the United States, in Taiwan, R.O.C., the Company owns a manufacturing facility. Management Changes On December 20, 2016, the Company announced that G. Frederick Wilkinson and the Company had mutually agreed that Mr. Wilkinson separate from his positions as President and Chief Executive Officer and resign as a member of the Board of Directors (the “Board”) of the Company, effective December 19, 2016. In connection with his separation from the Company, Mr. Wilkinson and the Company entered into a General Release and Waiver dated as of December 19, 2016 (the “General Release and Waiver”). Pursuant to the General Release and Waiver, the Company provided Mr. Wilkinson with certain termination benefits and payments. The Company recorded $5.4 million in costs associated with Mr. Wilkinson’s separation in the year ended December 31, 2016, comprised of $4.9 million of separation pay and benefits and $0.5 million of expense related to the accelerated vesting of certain of Mr. Wilkinson’s outstanding stock options and restricted stock awards pursuant to the terms of the General Release and Waiver. Refer to “Note 16. Share-based Compensation” for more information on the acceleration of Mr. Wilkinson’s equity awards. On December 19, 2016, the Company appointed J. Kevin Buchi, a director on the Company's Board, as Interim President and Chief Executive Officer while the Board conducts a search for a permanent President and Chief Executive Officer. On August 1, 2016, the Company announced that Douglas S. Boothe joined the Company as President of the Generics Division. Mr. Boothe reports directly to the Chief Executive Officer, and is responsible for all aspects of the Company's Generics business. In connection with his appointment as President of the Generics Division of the Company, Mr. Boothe and the Company entered into an Employment Agreement dated July 14, 2016 (the “Employment Agreement”). The initial term of the Employment Agreement expires on August 1, 2018, unless further extended or earlier terminated as provided in the Employment Agreement. The Employment Agreement automatically renews for single one -year periods unless either party provides at least 90 days written notice of non-renewal prior to the end of the applicable term or unless it is terminated earlier. On October 22, 2014, the Company announced that Carole S. Ben-Maimon, M.D., then President of the Company’s Generics Division, informed the Company of her decision to retire from her position effective November 3, 2014. In connection with her retirement, Dr. Ben-Maimon entered into a Separation Agreement with the Company dated October 22, 2014 which provided Dr. Ben-Maimon with $1.9 million of certain termination benefits and payments that were recorded during the fourth quarter of 2014. During the three month period ended March 31, 2014, the Company announced that the Company’s then Senior Vice President, Global Operations announced plans to retire and a Senior Vice President, Technical Operations was appointed. The Company’s then Senior Vice President, Global Operations subsequently retired from the Company in July 2014. In conjunction with the transition, the Company recorded $0.9 million in separation charges and accelerated share-based compensation expense in the six month period ended June 30, 2014.

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	BUSINESS ACQUISITIONS Teva Transaction On August 3, 2016, the Company completed its previously announced acquisition of (A) certain assets related to (i) 15 currently marketed generic pharmaceutical products, (ii) one approved generic product and two tentatively approved strengths of a currently marketed product, which have not yet launched, (iii) one pipeline generic product and one pipeline strength of a currently marketed product, which are pending approval by the FDA and (iv) one generic product under development, and (B) the return to the Company of its full commercial rights to its pending ANDA for the generic equivalent to Concerta® (methylphenidate hydrochloride), a product the Company previously partnered with Teva Pharmaceuticals USA, Inc. (“Teva USA”) (collectively, the products and pipeline products and the assets related thereto in (A) and (B), the “Acquired Product Lines” and the transactions related thereto the “Teva Transaction”), pursuant to (x) an Asset Purchase Agreement, dated as of June 20, 2016, as amended on June 30, 2016, with Teva Pharmaceutical Industries Ltd. (“Teva”), acting directly or through its affiliates (the “Teva APA”), (y) an Asset Purchase Agreement, dated as of June 20, 2016, as amended on June 30, 2016, with affiliates of Allergan plc (“Allergan”), (the “Allergan APA” and collectively with the Teva APA, the "APAs"), and (z) a Termination Agreement, dated as of June 20, 2016, between the Company and Teva USA, terminating each party’s rights and obligations with respect to methylphenidate hydrochloride under the Strategic Alliance Agreement, dated June 27, 2001, as amended between the Company and Teva USA. The aggregate purchase price for the Acquired Product Lines pursuant to the terms of the Teva APA and the Allergan APA, including the upfront payment to Teva in accordance with the Termination Agreement, was $585.8 million in cash at closing. The Company is also obligated to make future payments to Teva of up to $40.0 million under the terms of the Termination Agreement, payable upon the achievement of specified commercialization events related to methylphenidate hydrochloride. The Teva Transaction was part of the divestiture process mandated by the Federal Trade Commission in connection with the acquisition by Teva of the U.S. generics business of Allergan. The Company financed the Teva Transaction utilizing cash on hand and $400.0 million , the full amount of borrowing available, from its Term Loan Facility with Royal Bank of Canada, as discussed in "Note 13. Debt." The Company incurred acquisition-related costs for the Teva Transaction of $3.7 million , of which $3.1 million and $0.6 million was included in selling, general and administration expenses in the Company's consolidated statements of operations for the years ended December 31, 2016 and 2015, respectively. The acquisition of the foregoing currently marketed and pipeline products fits with the Company’s strategic priorities of maximizing its Generics Division’s platform and optimizing research and development opportunities. Through the Teva Transaction, the Company expects to expand its portfolio of difficult-to-manufacture or limited-competition products and maximize utilization of its existing manufacturing facilities in Hayward, California and Taiwan. As part of the closing of the Teva Transaction, the Company, Teva and Allergan agreed to certain transition related services pursuant to which the Company agreed to manage the payment process for certain commercial chargebacks and rebates on behalf of Teva and Allergan related to products each of Teva and Allergan sold into the channel prior to the closing date. On August 18, 2016, the Company received a payment totaling $42.4 million from Teva and Allergan, which represented their combined estimate of the amount of commercial chargebacks and rebates to be paid by the Company on their behalf to wholesalers who purchased products from Teva and Allergan prior to the closing. Pursuant to the agreed upon transition services, Teva and Allergan are obligated to reimburse the Company for additional payments related to chargebacks and rebates made on their behalf in excess of the $42.4 million . If the total payments made by the Company on behalf of Teva and Allergan are less than $42.4 million , the Company is obligated to refund the difference to Teva and/or Allergan. As of December 31, 2016 , the Company had paid $27.6 million on behalf of Teva and Allergan related to chargebacks and rebates as described above and $14.8 million remained in accrued expenses on the consolidated balance sheet. Purchase Accounting and Consideration Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 805, Business Combinations ("ASC 805") defines a business as consisting of inputs and processes applied to those inputs that have the ability to create outputs. The Company has determined that the Acquired Product Lines meet the definition of a business and, accordingly, has accounted for the Teva Transaction as a business combination under the acquisition method of accounting. The following is a preliminary estimate of the purchase price for the Teva Transaction as of the closing date of August 3, 2016 (in thousands): Estimated Fair Value Purchase price per the APAs $ 575,800 Upfront payment pursuant to Termination Agreement 10,000 Total cash consideration 585,800 Fair value of contingent consideration pursuant to Termination Agreement (1) 30,100 Total consideration transferred $ 615,900 (1) The contingent consideration arrangement pursuant to the Termination Agreement potentially requires the Company to pay up to $40.0 million of additional consideration to Teva upon the achievement of specified commercialization events related to methylphenidate hydrochloride. The $30.1 million fair value of the potential contingent consideration payments recognized on the acquisition date was estimated by applying a probability-weighted expected return methodology. Recognition and Measurement of Assets Acquired at Fair Value The Company has preliminarily allocated the purchase price for the Teva Transaction based upon the estimated fair value of the assets acquired at the date of acquisition. Accordingly, the preliminary purchase price allocation described below is subject to change. The Company expects to finalize the allocation of purchase price upon receipt of the final valuations for the intangible assets. Any adjustments to the preliminary fair values will be made as soon as practicable but no later than one year from the August 3, 2016 closing date of the Teva Transaction. The following is a preliminary estimate of the fair value of the intangible and tangible assets acquired in connection with the Teva Transaction on the closing date of August 3, 2016 (in thousands): Estimated Fair Value Intangible assets $ 613,032 Inventory - raw materials 2,868 Total assets acquired $ 615,900 Intangible Assets The following identifies the Company’s preliminary allocations of purchase price to intangible assets, including the weighted-average amortization period, in total and by major intangible asset class as of the closing date. See also "Note 11. Intangible Assets and Goodwill" for a discussion on non-cash impairment charges recorded during the third and fourth quarters of 2016 related to the intangible assets acquired in the Teva Transaction (in thousands): Estimated Fair Value Weighted-Average Estimated Useful Life Marketed product rights $ 455,529 19 years Acquired IPR&D product rights (1) 157,503 n/a Total intangible assets $ 613,032 (1) "IPR&D" refers to the Company's in-process research and development product rights. Pursuant to the Termination Agreement, Teva returned to the Company its full commercial rights to its pending ANDA for the generic equivalent to Concerta ® (methylphenidate hydrochloride), a product the Company previously partnered with Teva USA under a Strategic Alliance Agreement dated June 27, 2001, as amended. As a result, the Company recognized an intangible asset of $78.9 million related to the reacquired IPR&D. The Company engaged a third-party valuation specialist to measure the value of the reacquired product right using a discounted cash flow analysis. The asset was determined to be indefinite-lived based on the market participant methodology prescribed in ASC 805. The estimated fair value of the in-process research and development and identifiable intangible assets was determined using the “income approach,” which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. The assumptions, including the expected projected cash flows, utilized in the preliminary purchase price allocation and in determining the purchase price were based on management's best estimates as of the closing date of the Teva Transaction on August 3, 2016. Some of the more significant assumptions inherent in the development of those asset valuations include the estimated net cash flows for each year for each asset or product (including net revenues, cost of sales, research and development costs, selling and marketing costs and working capital / contributory asset charges), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream, as well as other factors. The discount rates used to arrive at the present value at the closing date of the intangible assets was 6.7% . No assurances can be given that the underlying assumptions used to prepare the discounted cash flow analysis will not change. For these and other reasons, actual results may vary significantly from estimated results. As described in "Note 11. Intangible Assets and Goodwill," the Company recorded non-cash impairment charges during the year ended December 31, 2016 in the amount of $308.4 million related to the intangible assets from the Teva Transaction. Revenues and Earnings for Acquired Product Lines Included in the Company's consolidated statement of operations for the year ended December 31, 2016 were revenues of $44.8 million and a net loss of $244.7 million (including $308.4 million of impairment charges - See "Note 11. Intangible Assets and Goodwill"), representing the results of operations for the Acquired Product Lines from the Teva Transaction from the August 3, 2016 closing date through December 31, 2016 . Unaudited Pro Forma Results of Operations The unaudited pro forma combined results of operations for the years ended December 31, 2016 and 2015 (assuming the closing of the Teva Transaction occurred on January 1, 2015) are as follows (in thousands): Years Ended December 31, 2016 2015 Total revenues $ 927,593 $ 1,025,598 Net (loss) income (450,190 ) 70,057 The pro forma adjustments reflected herein include only those adjustments that are directly attributable to the Teva Transaction, factually supportable and expected to have a continuing impact on the Company. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the closing of the Teva Transaction taken place on January 1, 2015. Furthermore, the pro forma results do not purport to project the future results of operations of the Company. The unaudited pro forma information reflects primarily the following adjustments: • Adjustments to amortization expense related to identifiable intangible assets acquired; • Adjustments to interest expense to reflect the Company's Term Loan Facility (described in “Note 13. Debt”); and • Adjustments to selling, general and administrative expense related to transaction costs directly attributable to the transaction include the elimination of $3.1 million of charges in the pro forma results for the year ended December 31, 2016 which have been included in the pro forma results for the year ended December 31, 2015. All of the items above were adjusted for the applicable tax impact. Tower Acquisition On March 9, 2015, the Company completed the Tower Acquisition for a purchase price of $691.3 million , net of $41.5 million of cash acquired and including the repayment of indebtedness of Tower and Lineage and post-closing working capital adjustments. The privately-held companies specialized in the development, manufacture and commercialization of complex generic and branded pharmaceutical products. The Tower Acquisition included the Company's acquisition of all of the outstanding shares of common stock of Tower and Lineage, pursuant to the Stock Purchase Agreement dated as of October 8, 2014, by and among the Company, Tower, Lineage, Roundtable Healthcare Partners II, L.P., Roundtable Healthcare Investors II, L.P., and the other parties thereto, including holders of certain options and warrants to acquire the common stock of Tower or Lineage. In connection with the Tower Acquisition, the options and warrants of Tower and Lineage that were outstanding at the time of the acquisition were cancelled. The Company incurred acquisition-related costs of $10.9 million , of which $6.7 million were incurred during the year ended December 31, 2015 and were included in selling, general and administrative expenses in the Company's consolidated statement of operations for that period. In connection with the Tower Acquisition, the Company recorded an accrual for severance and related termination costs of $2.4 million during 2015 related to the elimination of approximately 10 positions at the acquired companies. The Company paid all severance and related termination costs related to the Tower Acquisition as of the end of the second quarter of 2016. The Tower Acquisition allowed the Company to expand its commercialized generic and branded product portfolios. The Company has also leveraged its sales and marketing organization to promote the marketed products acquired. Consideration The Company has accounted for the Tower Acquisition as a business combination under the acquisition method of accounting. The Company allocated the purchase price for the transaction based upon the fair value of net assets acquired and liabilities assumed at the date of acquisition. Recognition and Measurement of Assets Acquired and Liabilities Assumed at Fair Value The following tables summarize the final fair values of the tangible and identifiable intangible assets acquired and liabilities assumed in the Tower Acquisition at the closing date, net of cash acquired of $41.5 million (in thousands): Accounts receivable (1) $ 56,851 Inventory 31,259 Income tax receivable and other prepaid expenses 2,407 Property, plant and equipment 27,540 Intangible assets 632,600 Intangible assets held for sale 4,000 Goodwill 179,755 Deferred income taxes 37,041 Other non-current assets 3,844 Total assets acquired 975,297 Current liabilities 67,584 Deferred tax liabilities 210,005 Other non-current liabilities 6,360 Total liabilities assumed 283,949 Cash paid, net of cash acquired $ 691,348 (1) The accounts receivable acquired in the Tower Acquisition had a fair value of $56.9 million , including an allowance for doubtful accounts of $9.0 million , which represented the Company’s best estimate on March 9, 2015 (the closing date of the transaction) of the contractual cash flows not expected to be collected by the acquired companies. Intangible Assets The following table identifies the Company’s allocations, by category, of the Tower Acquisition purchase price to the intangible assets acquired as of the closing date (in thousands): Estimated Fair Weighted-Average (years) Marketed product rights $ 381,100 13 Royalty rights 80,800 12 Acquired IPR&D product rights 170,700 n/a Total intangible assets $ 632,600 The estimated fair value of the in-process research and development and identifiable intangible assets was determined using the “income approach,” which is a valuation technique that provides an estimate of the fair value of an asset based on market participant expectations of the cash flows an asset would generate over its remaining useful life. Some of the more significant assumptions inherent in the development of those asset valuations include the estimated net cash flows for each year for each asset or product (including net revenues, cost of sales, research and development costs, selling and marketing costs and working capital / contributory asset charges), the appropriate discount rate to select in order to measure the risk inherent in each future cash flow stream, the assessment of each asset’s life cycle, the potential regulatory and commercial success risks, competitive trends impacting the asset and each cash flow stream as well as other factors. The discount rates used to arrive at the present value at the acquisition date of currently marketed products was 15% . For in-process research and development, the discount rate used was 16% to reflect the internal rate of return and incremental commercial uncertainty in the cash flow projections. No assurances can be given that the underlying assumptions used to prepare the discounted cash flow analysis will not change. For these and other reasons, actual results may vary significantly from estimated results. Goodwill The Company recorded approximately $179.8 million of goodwill in connection with the Tower Acquisition, some of which will not be tax-deductible. Goodwill of $59.7 million was assigned to the Impax Specialty Pharma segment and $120.1 million was assigned to the Impax Generics segment. Factors that contributed to the Company’s recognition of goodwill include the Company’s intent to expand its generic and branded pharmaceutical product portfolios and to acquire certain benefits from the Tower and Lineage product pipelines, in addition to the anticipated synergies that the Company expects to generate from the acquisition. Unaudited Pro Forma Results of Operations The unaudited pro forma combined results of operations for the years ended December 31, 2015 and 2014 (assuming the closing of the Tower Acquisition occurred on January 1, 2014) are as follows (in thousands): Year Ended December 31, 2015 Year Ended December 31, 2014 Total revenues $ 892,906 $ 819,838 Net income $ 54,285 $ 30,838 The pro forma adjustments reflected herein include only those adjustments that are directly attributable to the Tower Acquisition, factually supportable and expected to have a continuing impact on the Company. The pro forma results have been prepared for comparative purposes only and are not necessarily indicative of the actual results of operations had the closing of the Tower Acquisition taken place on January 1, 2014. Furthermore, the pro forma results do not purport to project the future results of operations of the Company. The unaudited pro forma information reflects primarily the following adjustments: • Adjustments to amortization expense related to identifiable intangible assets acquired; • Adjustments to depreciation expense related to property, plant and equipment acquired; • Adjustments to interest expense to reflect the long-term debt held by Tower and Lineage paid out and eliminated at the closing and the Company's Senior Secured Credit Facilities (described in “Note 13. Debt”); • Adjustments to cost of revenues related to the fair value adjustments in inventory sold, including elimination of $6.1 million for the year ended December 31, 2015 and additional costs of approximately $6.1 million for the year ended December 31, 2014; • Adjustments to selling, general and administrative expense related to severance and retention costs of $3.4 million incurred as part of the transaction. These costs were eliminated in the pro forma results for the year ended December 31, 2015 and included in the pro forma results for the year ended December 31, 2014; • Adjustments to selling, general and administrative expense related to transaction costs directly attributable to the transaction include the elimination of $12.2 million of charges in the pro forma results for the year ended December 31, 2015 which have been included in the pro forma results for the year ended December 31, 2014; and • Adjustments to reflect the elimination of $2.3 million in commitment fees related to the Company's $435.0 million term loan with Barclays Bank PLC (described in "Note 13. Debt") that were incurred during the year ended December 31, 2015 and were included in the pro forma results for the year ended December 31, 2014. All of the items above were adjusted for the applicable tax impact.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Principles of Consolidation The consolidated financial statements of the Company include the accounts of the operating parent company, Impax Laboratories, Inc., its wholly owned subsidiaries, including Impax Laboratories USA, LLC, Impax Laboratories (Taiwan), Inc., ThoRx Laboratories, Inc., Impax International Holding, Inc., Impax Holdings, LLC, Impax Laboratories (Netherlands) C.V., Impax Laboratories (Netherlands) B.V., Impax Laboratories Ireland Limited, Lineage and Tower, including operating subsidiaries CorePharma, Amedra Pharmaceuticals, Mountain LLC and Trail Services, Inc., in addition to an equity investment in Prohealth Biotech (Taiwan), Inc. (“Prohealth”), in which the Company held a 57.54% majority ownership interest at December 31, 2016 . All significant intercompany accounts and transactions have been eliminated. Foreign Currency Translation The Company translates the assets and liabilities of the Taiwan dollar functional currency of its majority-owned affiliate Prohealth and its wholly-owned subsidiary Impax Laboratories (Taiwan), Inc. into the U.S. dollar reporting currency using exchange rates in effect at the end of each reporting period. The revenues and expenses of these entities are translated using an average of the rates in effect during the reporting period. Gains and losses from these translations are recorded as currency translation adjustments included in the consolidated statements of comprehensive (loss) income and the consolidated statements of changes in stockholders’ equity. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and the rules and regulations of the U.S. Securities & Exchange Commission (“SEC”) requires the use of estimates and assumptions, based on complex judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant judgments are employed in estimates used in determining values of tangible and intangible assets, contingent consideration, legal contingencies, tax assets and tax liabilities, fair value of share-based compensation related to equity incentive awards issued to employees and directors, and estimates used in applying the Company’s revenue recognition policy, including those related to accrued chargebacks, rebates, product returns, Medicare, Medicaid, and other government rebate programs, shelf-stock adjustments, and the timing and amount of deferred and recognized revenue and deferred and amortized product manufacturing costs related to alliance and collaboration agreements. Actual results may differ from estimated results. Reclassifications Certain prior year amounts have been reclassified to conform to the presentation for the year ended December 31, 2016 .

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are stated at cost, which, for cash equivalents, approximates fair value due to the short-term nature. The Company is potentially subject to financial instrument concentration of credit risk through its cash and cash equivalents. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are cash, cash equivalents and accounts receivable. Cash is held on deposit in demand accounts at large financial institutions in amounts in excess of the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000 per depositor, per FDIC-insured bank, per ownership category. Cash equivalents are comprised of highly-rated money market funds. The Company limits its credit risk with respect to accounts receivable by performing credit evaluations of customers when deemed necessary. The Company does not require collateral to secure amounts due from its customers. The following tables present the percentage of total accounts receivable and gross revenues represented by the Company’s five largest customers as of and for the years ended December 31, 2016 , 2015 and 2014 : Percent of Total Accounts Receivable 2016 2015 2014 Customer #1 36.2 % 52.4 % 36.9 % Customer #2 35.6 % 24.8 % 28.2 % Customer #3 20.5 % 14.4 % 19.6 % Customer #4 1.7 % 0.7 % 0.6 % Customer #5 0.7 % 0.1 % 1.6 % Customer #6 0.5 % 1.0 % 1.8 % Customer #7 0.5 % 0.6 % 1.7 % Customer #8 0.3 % 0.5 % 1.7 % Total 96.0 % 94.5 % 92.1 % Top five largest customers 94.7 % 93.3 % 88.2 % Percent of Gross Revenues 2016 2015 2014 Customer #1 40.1 % 45.6 % 36.0 % Customer #2 28.4 % 21.7 % 20.7 % Customer #3 20.1 % 18.8 % 19.3 % Customer #4 1.2 % 1.1 % 1.8 % Customer #5 1.1 % 1.4 % 2.5 % Customer #6 0.4 % 0.4 % 1.9 % Total 91.3 % 89.0 % 82.2 % Top five largest customers 90.9 % 88.6 % 80.4 % In July 2015, the Company received an unsolicited offer from Turing Pharmaceuticals AG (“Turing”) to purchase the U.S. rights to Daraprim®, one of the marketed products acquired in the Tower Acquisition, as well as the active pharmaceutical ingredient for the product and the finished goods inventory on hand. The sale closed on August 7, 2015, and the Company received proceeds of $55.5 million at closing. The net book value of the Daraprim® product rights at the time of sale was $9.3 million , and the Company recognized a gain on the sale of the intangible asset of $45.6 million , net of expenses. Pursuant to the terms of the Asset Purchase Agreement between the Company and Turing dated August 7, 2015 (the “Turing APA”), the Company also granted a limited license to sell the existing Daraprim® product under the Company’s labeler code with the Company’s trade dress. In accordance with the terms of the Turing APA and in accordance with federal laws and regulations, the Company receives and is initially responsible for processing and paying (subject to reimbursement by Turing), all chargebacks and rebates resulting from utilization by Medicaid, Medicare and other federal, state and local governmental programs, health plans and other health care providers for product sold under the Company’s labeler code. Under the terms of the Turing APA, Turing is responsible for liabilities related to chargebacks and rebates that arise as a result of Turing’s marketing or selling related activities in connection with Daraprim®. During the fourth quarter of 2015, the Company began receiving invoices for chargebacks from wholesalers and rebates from various state Medicaid agencies for Daraprim® purchases made by governmental agencies during the third quarter of 2015. As a result, the Company recorded a $40.6 million receivable from Turing as of December 31, 2015, representing actual invoices received related to the third quarter of 2015 and an estimate for invoices not yet received related to the third and fourth quarters of 2015. During 2016, the Company received additional invoices related to the third and fourth quarters of 2015 and recorded an estimate for invoices not yet received for 2016. In total, the Company recorded an additional $7.4 million receivable from Turing during the year ended December 31, 2016 . During the fourth quarter of 2016, the Company received payment in the amount of $7.7 million from Turing, resulting in an estimated accounts receivable balance due to the Company of $40.3 million as of December 31, 2016 , with over $35.7 million of such amount representing overdue unpaid invoices due from Turing for chargebacks and Medicaid rebate liability as of December 31, 2016 . The Company has paid $33.5 million of cash on Turing's behalf (net of the $7.7 million payment received from Turing) through December 31, 2016 and the remaining difference of $6.8 million (compared to the $40.3 million receivable due from Turing) is included in "Accrued expenses" on the Company's consolidated balance sheet. As of February 17, 2017 , the amount of total payments made by the Company on Turing’s behalf (net of the $7.7 million payment received from Turing) was $33.5 million . As a result of the uncertainty of the Company collecting the reimbursement amounts owed by Turing that developed since the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 , the Company recorded a reserve in the amount of $48.0 million on the Company’s consolidated statement of operations in "Other income (expense)" for the three month period ended March 31, 2016, representing the full amount of the estimated receivable due from Turing as of March 31, 2016. During the fourth quarter of 2016, the Company received $7.7 million in payments from Turing, which reduced the reserve balance to $40.3 million as of December 31, 2016 . On May 2, 2016, the Company filed suit against Turing in the United States District Court for the Southern District of New York alleging breach of the terms of the Turing APA seeking (i) a declaratory judgment that the Company may revoke Turing’s right to sell Daraprim® under the Company’s labeler code and national drug codes; (ii) specific performance to require Turing to comply with its obligations under the Turing APA for past due reports and for reports going forward; and (iii) money damages to remedy Turing’s failure to reimburse the Company for chargebacks and Medicaid rebate liability when due, currently in excess of $35.7 million , and for future amounts that may be due. See “Note 22. Legal and Regulatory Matters” for a description of the Company’s suit against Turing. If the Company receives an unfavorable outcome in its suit against Turing or if Turing for any reason does not, or is unable to, make its reimbursement payments to the Company, it could have a material adverse effect on the Company’s business, results of operation and financial condition. Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from amounts deemed to be uncollectible from its customers; these allowances are for specific amounts on certain accounts based on facts and circumstances determined on a case-by-case basis. Inventory Inventory is stated at the lower of cost or market. Cost is determined using a standard cost method, and the cost flow assumption is first in, first out (“FIFO”) flow of goods. Standard costs are revised annually, and significant variances between actual costs and standard costs are apportioned to inventory and cost of goods sold based upon inventory turnover. Costs include materials, labor, quality control, and production overhead. Inventory is adjusted for short-dated, unmarketable inventory equal to the difference between the cost of inventory and the estimated value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by the Company, additional inventory write-downs may be required. Consistent with industry practice, the Company may build pre-launch inventories of certain products which are pending required approval from the FDA and/or resolution of patent infringement litigation, when, in the Company’s assessment, such action is appropriate to prepare for the anticipated commercial launch and FDA approval is expected in the near term and /or the related litigation will be resolved in the Company’s favor. The Company accounts for all costs of idle facilities, excess freight and handling costs, and wasted materials (spoilage) as a current period charge in accordance with U.S. GAAP. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Maintenance and repairs are charged to expense as incurred and costs of improvements and renewals are capitalized. Costs incurred in connection with the construction or major renovation of facilities, including interest directly related to such projects, are capitalized as construction in progress. Depreciation is recognized using the straight-line method based on the estimated useful lives of the related assets, which are generally 40 years for buildings, 10 to 15 years for building improvements, eight to 10 years for equipment, and four to 10 years for office furniture and equipment. Land and construction-in-progress are not depreciated. Intangible Assets The Company’s intangible assets include both finite lived and indefinite-lived assets. Finite lived intangible assets, consisting of marketed product rights and royalties received from product sales by the Company's third party partners, are amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. Indefinite-lived intangible assets consist of acquired IPR&D product rights and acquired future royalty rights to be paid based on other companies’ net sales of products not yet approved. IPR&D assets acquired in a business combination are considered indefinite-lived until the completion or abandonment of the associated research and development efforts. Amortization over the estimated useful life will commence at the time of the respective product’s launch. If FDA approval to market the product is not obtained, the Company will immediately expense the related capitalized cost. Finite lived intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. All of the Company's indefinite-lived intangible assets are tested for impairment at least annually during the fourth quarter of the fiscal year, or more often if indicators of impairment are present. Impairment testing requires management to estimate the future undiscounted cash flows of an intangible asset using assumptions believed to be reasonable, but which are unpredictable and inherently uncertain. Actual future cash flows may differ from the estimates used in the impairment testing. The Company recognizes an impairment loss when and to the extent that the estimated fair value of an intangible asset is less than its carrying value. Goodwill In accordance with FASB ASC Topic 350, " Goodwill and Other Intangibles ," rather than recording periodic amortization, goodwill is subject to an annual assessment for impairment by applying a fair value based test. If the fair value of the reporting unit exceeds the reporting unit’s carrying value, including goodwill, then goodwill is considered not impaired, making further analysis not required. The Company considers the Impax Generics division and the Impax Specialty Pharma division operating segments to each be a reporting unit. The Company attributes $59.7 million of goodwill to the Impax Specialty Pharma division and $147.6 million of goodwill to the Impax Generics division. The Company concluded the carrying value of goodwill was no t impaired as of December 31, 2016 and 2015 as the fair value of the Impax Specialty Pharma division and the Impax Generics division exceeded their carrying value at each date. The Company performs its annual goodwill impairment test in the fourth quarter of each year. The Company estimated the fair value of the Impax Specialty Pharma division and the Impax Generics division using a discounted cash flow model for both the reporting unit and the enterprise. In addition, on a quarterly basis, the Company performs a review of its business operations to determine whether events or changes in circumstances have occurred which could have a material adverse effect on the estimated fair value of each reporting unit, and thus indicate a potential impairment of the goodwill carrying value. If such events or changes in circumstances were deemed to have occurred, the Company would perform an interim impairment analysis, which may include the preparation of a discounted cash flow model, or consultation with one or more valuation specialists, to determine the impact, if any, on the Company’s assessment of the reporting unit’s fair value. Derivatives The Company generally does not use derivative instruments or engage in hedging activities in its ordinary course of business. Prior to June 30, 2015, the Company had no derivative assets or liabilities and did not engage in any hedging activities. As a result of the Company’s June 30, 2015 issuance of the convertible senior notes described in “Note 13. Debt”, the conversion option of the notes temporarily met the criteria for an embedded derivative liability which required bifurcation and separate accounting. Concurrently with the issuance of the notes, the Company entered into a series of convertible note hedge and warrant transactions which in combination are designed to reduce the potential dilution to the Company’s stockholders and/or offset the cash payments the Company is required to make in excess of the principal amount upon conversion of the notes. See “Note 14. Stockholders’ Equity” for additional information regarding the note hedge transactions and warrant transactions. While the warrants sold were classified as equity and recorded in additional paid-in capital, the call options purchased were temporarily classified as a bond hedge derivative asset on the Company’s consolidated balance sheet. The Company engaged a third-party valuation firm with expertise in valuing financial instruments to determine the fair value of the bond hedge derivative asset and conversion option derivative liability at each reporting period. The Company’s consolidated balance sheets reflected the fair value of the derivative asset and liability as of the reporting date, and changes in the fair value were reflected in current period earnings, as appropriate. As result of the amendment to the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of the Company's common stock discussed in “Note 14. Stockholders’ Equity,” both the derivative asset and liability were reclassified to additional paid-in capital. The Company had no derivative assets or liabilities and did not engage in any hedging activities as of December 31, 2016 or 2015 . Contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, covering a wide range of matters, including, among others, patent litigation, stockholder lawsuits, and product and clinical trial liability. The Company records accruals for such loss contingencies when it is probable a liability will have been incurred and the amount of loss can be reasonably estimated. The Company does not recognize gain contingencies until realized. The Company records an accrual for legal costs in the period incurred. A discussion of contingencies is included in “Note 21. Commitments and Contingencies” and “Note 22. Legal and Regulatory Matters”. Deferred Financing Costs The Company capitalizes direct costs incurred to obtain debt financing and amortizes these costs to interest expense using the effective interest method over the term of the debt. These costs are recorded as a debt discount and the unamortized costs are netted against the related debt on the Company’s consolidated balance sheets. For line-of-credit arrangements with no outstanding borrowing, the costs incurred to obtain the credit facility are amortized to interest expense using the straight-line method over the term of the line-of-credit arrangement. The unamortized balance is included in other assets on the Company’s consolidated balance sheets. Revenue Recognition The Company recognizes revenue when the earnings process is complete, which under SEC Staff Accounting Bulletin No. 104, Topic No. 13, “Revenue Recognition” (“SAB 104”), is when revenue is realized or realizable and earned, there is persuasive evidence a revenue arrangement exists, delivery of goods or services has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. The Company accounts for material revenue arrangements which contain multiple deliverables in accordance with FASB ASC Topic 605-25, Revenue Recognition - Multiple Element Arrangements ("ASC 605-25"), which addresses the determination of whether an arrangement involving multiple deliverables contains more than one unit of accounting. A delivered item within an arrangement is considered a separate unit of accounting only if both of the following criteria are met: • the delivered item has value to the customer on a stand-alone basis; and • if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item is considered probable and substantially in the control of the vendor. Under ASC Topic 605-25, if both of the criteria above are not met, then separate accounting for the individual deliverables is not appropriate. Revenue recognition for arrangements with multiple deliverables constituting a single unit of accounting is recognized generally over the greater of the term of the arrangement or the expected period of performance, either on a straight-line basis or on a modified proportional performance method. The Company accounts for milestones related to research and development activities in accordance with FASB ASC Topic 605-28, Revenue Recognition - Milestone Method ("ASC 605-28"). ASC Topic 605-28 allows for the recognition of consideration, which is contingent on the achievement of a substantive milestone, in its entirety in the period the milestone is achieved. A milestone is considered to be substantive if all of the following criteria are met: • the milestone is commensurate with either: (1) the performance required to achieve the milestone, or (2) the enhancement of the value of the delivered items resulting from the performance required to achieve the milestone; • the milestone relates solely to past performance; and • the milestone payment is reasonable relative to all of the deliverables and payment terms within the agreement. Impax Generics revenues, net, and Impax Specialty Pharma revenues, net The Impax Generics revenues, net and Impax Specialty Pharma revenues, net include revenue recognized related to shipments of generic and branded pharmaceutical products to the Company’s customers, primarily drug wholesalers and retail chains. Gross sales revenue is recognized at the time title and risk of loss passes to the customer, which is generally when product is received by the customer. Net revenues may include deductions from the gross sales price related to estimates for chargebacks, rebates and administrative fees, distribution service fees, returns, shelf-stock adjustments, and other pricing adjustments. The Company records an estimate for these deductions in the same period when revenue is recognized. A description of each of these gross-to-net deductions follows. • Chargebacks The Company has agreements establishing contract prices for certain products with certain indirect customers, such as retail pharmacy chains, group purchasing organizations, managed care organizations, hospitals and government agencies who purchase products from drug wholesalers. The contract prices are lower than the prices the customer would otherwise pay to the wholesaler, and the price difference is referred to as a chargeback, which generally takes the form of a credit memo issued by the Company to reduce the invoiced gross selling price charged to the wholesaler. An estimated accrued provision for chargeback deductions is recognized at the time of product shipment. The primary factors considered when estimating the provision for chargebacks are the average historical chargeback credits given, the mix of products shipped, and the amount of inventory on hand at the major drug wholesalers with whom the Company does business. The Company also monitors actual chargebacks granted and compares them to the estimated provision for chargebacks to assess the reasonableness of the chargeback reserve at each quarterly balance sheet date. • Rebates and Administrative Fees The Company maintains various rebate and administrative fee programs with its customers in an effort to maintain a competitive position in the marketplace and to promote sales and customer loyalty. The rebates generally take the form of a credit memo to reduce the invoiced gross selling price charged to a customer for products shipped. An estimated accrued provision for rebate deductions is recognized at the time of product shipment. The primary factors the Company considers when estimating the provision for rebates are the average historical experience of aggregate payments issued, the mix of products shipped and the historical relationship of rebates as a percentage of total gross product sales, the contract terms and conditions of the various rebate programs in effect at the time of shipment, and the amount of inventory on hand at the major drug wholesalers with whom the Company does business. The Company also monitors actual rebates granted and compares them to the estimated provision for rebates to assess the reasonableness of the rebate reserve at each quarterly balance sheet date. • Distribution Service Fees The Company pays distribution service fees to several of its wholesaler customers related to sales of its Impax Products. The wholesalers are generally obligated to provide the Company with periodic outbound sales information as well as inventory levels of the Company’s Impax Products held in their warehouses. Additionally, the wholesalers have agreed to manage the variability of their purchases and inventory levels within specified days on hand limits. An accrued provision for distribution service fees is recognized at the time products are shipped to wholesalers. • Returns The Company allows its customers to return product if approved by authorized personnel in writing or by telephone with the lot number and expiration date accompanying any request and if such products are returned within six months prior to or until twelve months following, the product’s expiration date. The Company estimates and recognizes an accrued provision for product returns as a percentage of gross sales based upon historical experience. The product return reserve is estimated using a historical lag period, which is the time between when the product is sold and when it is ultimately returned, and estimated return rates which may be adjusted based on various assumptions including: changes to internal policies and procedures, business practices, commercial terms with customers, and the competitive position of each product; the amount of inventory in the wholesale and retail supply chain; the introduction of new products; and changes in market sales information. The Company also considers other factors, including significant market changes which may impact future expected returns, and actual product returns. The Company monitors actual returns on a quarterly basis and may record specific provisions for returns it believes are not covered by historical percentages. • Shelf-Stock Adjustments Based upon competitive market conditions, the Company may reduce the selling price of certain Impax Generics division products. The Company may issue a credit against the sales amount to a customer based upon their remaining inventory of the product in question, provided the customer agrees to continue to make future purchases of product from the Company. This type of customer credit is referred to as a shelf-stock adjustment, which is the difference between the initial sales price and the revised lower sales price, multiplied by an estimate of the number of product units on hand at a given date. Decreases in selling prices are discretionary decisions made by the Company in response to market conditions, including estimated launch dates of competing products and declines in market price. The Company records an estimate for shelf-stock adjustments in the period it agrees to grant such a credit memo to a customer. • Cash Discounts The Company offers cash discounts to its customers, generally 2% to 3% of the gross selling price, as an incentive for paying within invoice terms, which generally range from 30 to 90 days. An estimate of cash discounts is recorded in the same period when revenue is recognized. • Medicaid and Other U.S. Government Pricing Programs As required by law, the Company provides a rebate on drugs dispensed under the Medicaid program, Medicare Part D, TRICARE, and other U.S. government pricing programs. The Company determines its estimated government rebate accrual primarily based on historical experience of claims submitted by the various states and other jurisdictions and any new information regarding changes in the various programs which may impact the Company’s estimate of government rebates. In determining the appropriate accrual amount, the Company considers historical payment rates and processing lag for outstanding claims and payments. The Company records estimates for government rebates as a deduction from gross sales, with a corresponding adjustment to accrued liabilities. • Rx Partner and OTC Partner The Rx Partner and OTC Partner contracts include revenue recognized under alliance and collaboration agreements between the Company and unrelated third-party pharmaceutical companies. The Company has entered into these alliance agreements to develop marketing and/or distribution relationships with its partners to fully leverage its technology platform. The Rx Partners and OTC Partners alliance agreements obligate the Company to deliver multiple goods and/or services over extended periods. Such deliverables include manufactured pharmaceutical products, exclusive and semi-exclusive marketing rights, distribution licenses, and research and development services. In exchange for these deliverables the Company receives payments from its agreement partners for product shipments and research and development services, and may also receive other payments including royalties, profit sharing payments, and upfront and periodic milestone payments. Revenue received from the alliance agreement partners for product shipments under these agreements is not subject to deductions for chargebacks, rebates, product returns, and other pricing adjustments. Royalty and profit sharing amounts the Company receives under these agreements are calculated by the respective agreement partner, with such royalty and profit share amounts generally based upon estimates of net product sales or gross profit which include estimates of deductions for chargebacks, rebates, product returns, and other adjustments the alliance agreement partners may negotiate with their respective customers. The Company records the agreement partner's adjustments to such estimated amounts in the period the agreement partner reports the amounts to the Company. The Company applies the updated guidance of ASC 605-25 to the Strategic Alliance Agreement, as amended with Teva Pharmaceuticals USA , Inc., an affiliate of Teva Pharmaceutical Industries Limited (the “Teva Agreement”). The Company looks to the underlying delivery of goods and/or services which give rise to the payment of consideration under the Teva Agreement to determine the appropriate revenue recognition. The Company initially defers consideration received as a result of research and development-related activities performed under the Teva Agreement. The Company recognizes deferred revenue on a straight-line basis over the expected period of performance for such services. Consideration received as a result of the manufacture and delivery of products under the Teva Agreement is recognized at the time title and risk of loss passes to the customer, which is generally when product is received by Teva. The Company recognizes profit share revenue in the period earned. OTC Partner revenue is related to agreements with Pfizer, Inc., formerly Wyeth LLC (“Pfizer”) and L. Perrigo Company (“Perrigo”) with respect to the supply of the Company's over-the-counter pharmaceutical product Loratadine and Pseudoephedrine Sulfate 5 mg/120 mg 12-hour Extended Release Tablets (the "D12 Product"). The OTC Partner sales channel is no longer a core area of the business, and the over-the-counter pharmaceutical products the Company sells through this sales channel are older products which are now only sold to Pfizer and Perrigo. The Company is currently only required to manufacture the over-the-counter pharmaceutical products under its agreements with Pfizer and Perrigo. The Company recognizes profit share revenue in the period earned. During the quarter ended September 30, 2016, the Company sold the ANDAs for both the D12 Product and the Loratadine and Pseudoephedrine Sulfate 10 mg/240 mg 24-hour Extended Release Tablets, in addition to other specified assets, to Perrigo pursuant to an asset purchase agreement with Perrigo dated as of March 31, 2016 (the "Perrigo APA"). Under the terms of the Perrigo APA, the Company will also continue to supply the D-12 Product to Pfizer and Perrigo until the date that is the earliest of (i) the date Perrigo’s manufacturing facility is approved to manufacture the D-12 Product and (ii) December 31, 2017 (the "Supply End Date"). On the Supply End Date, the Company will assign and transfer its supply agreement with Pfizer in its entirety to Perrigo in accordance with the Perrigo APA. • Research Partner The Research Partner contract revenue results from development agreements the Company enters into with unrelated third-party pharmaceutical companies. The development agreements generally obligate the Company to provide research and development services over multiple periods. In exchange for this service, the Company generally receives upfront payments upon signing of each development agreement and is eligible to receive contingent milestone payments, payment of which is based upon the achievement of contractually specified events. Additionally, the Company may also receive royalty payments from the sale, if any, of a successfully developed and commercialized product under one of these development agreements. The Company recognizes revenue received from the achievement of contingent research and development milestones in the period such payment is earned. Royalty revenue, if any, will be recognized as current period revenue when earned. Shipping and Handling Fees and Costs Shipping and handling fees related to sales transactions are recorded as selling expense. Shipping costs were $3.7 million , $2.3 million and $2.4 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Research and Development Expenses Research and development activities are expensed as incurred and consist of self-funded research and development costs and costs associated with work performed by other participants under collaborative research and development agreements. Share-Based Compensation The Company accounts for stock-based employee compensation arrangements in accordance with provisions of FASB ASC Topic 718 “ Stock Compensation. ” Under FASB ASC Topic 718, the Company recognizes the grant date fair value of stock-based employee compensation as expense on a straight-line basis over the vesting period of the grant. The Company uses the Black Scholes option pricing model to determine the grant date fair value of employee stock options. The fair value of restricted stock awards is equal to the closing price of the Company’s stock on the date such aw

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, “ Revenue from Contracts with Customers ” (Topic 606) regarding the accounting for and disclosures of revenue recognition, with an effective date for annual and interim periods beginning after December 15, 2016. This update provides a single comprehensive model for accounting for revenue from contracts with customers. The model requires that revenue recognized reflect the actual consideration to which the entity expects to be entitled in exchange for the goods or services defined in the contract, including in situations with multiple performance obligations. In July 2015, the FASB issued ASU 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ,” which deferred the effective date of the previously issued revenue recognition guidance by one year. The guidance will be effective for annual and interim periods beginning after December 15, 2017. In April 2016 and May 2016, the FASB issued ASU 2016-10, " Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing " and ASU 2016-12, " Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ," respectively. Both of these updates provide improvements and clarification to the previously issued revenue recognition guidance. The guidance can be applied using one of two methods: retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application. The Company is currently evaluating the effect that this guidance may have on its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): “ Simplifying the Measurement of Inventory ,” with guidance regarding the accounting for and measurement of inventory. The update requires that inventory measured using first-in, first-out ("FIFO") shall be measured at the lower of cost and net realizable value. When there is evidence that the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings in the period in which it occurs. The guidance will be effective for annual and interim periods beginning after December 15, 2016. The Company does not expect the adoption of this guidance to have a material effect on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): “ Simplifying the Accounting for Measurement-Period Adjustments, ” with guidance regarding the accounting for and disclosure of measurement-period adjustments that occur in periods after a business combination is consummated. This update requires that the acquirer recognize measurement-period adjustments in the reporting period in which they are determined and, as such, eliminates the previous requirement to retrospectively account for these adjustments. This update also requires an entity to present separately on the face of the income statement, or disclose in the notes, the amount recorded in the current-period income statement that would have been recorded in previous reporting periods if the adjustments had been recognized as of the acquisition date. The effective date for annual and interim periods begins after December 15, 2015. The Company adopted this guidance during 2016, and it did not have a material effect on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), with guidance regarding the accounting for and disclosure of leases. The update requires lessees to recognize all leases, including operating leases, with a term greater than 12 months on the balance sheet. This update also requires lessees and lessors to disclose key information about their leasing transactions. The guidance will be effective for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the effect that this guidance will have on its consolidated financial statements and related disclosures. The Company's expects the implementation of this standard to have an impact on its consolidated financial statements and related disclosures as it has aggregate future minimum lease payments of $30.2 million as of December 31, 2016 under the current portfolio of non-cancelable leases for land, office space, and manufacturing, warehouse and research and development facilities with various expiration dates between April 2017 and October 2021. The Company anticipates recognition of additional assets and corresponding liabilities related to these leases on its consolidated balance sheet. In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 915): " Contingent Put and Call Options in Debt Instruments ," with guidance regarding the accounting for embedded derivatives related to debt contracts. The update clarifies that determining whether the economic characteristics of a put or call are clearly and closely related to its debt host requires only an assessment of the four-step decision sequence outlined in FASB ASC paragraph 815-15-25-24. The update also indicates that entities are not required to separately assess whether the contingency itself is clearly and closely related. The guidance will be effective for annual and interim periods beginning after December 15, 2016. The Company does not expect the adoption of this guidance to have a material effect on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): " Improvements to Employee Share-Based Payment Accounting ," with guidance regarding the simplification of accounting for share-based payment award transactions. The update changes the accounting for such areas as the accounting and cash flow classification for excess tax benefits and deficiencies; forfeitures; and tax withholding requirements and cash flow classification. The guidance will be effective for annual and interim periods beginning after December 15, 2016. The Company will adopt the new guidance effective January 1, 2017 and has elected to eliminate the use of a forfeiture rate estimate in the determination of share-based compensation expense for restricted stock awards using the modified retrospective transition method, which will result in an estimated $1.4 million charge to opening retained earnings. In addition, the Company will present the cash paid for tax withholdings on stock options exercised and restricted stock awards vested in financing as opposed to the historical presentation in operating cash flows. Excess tax benefits or deficiencies, historically recorded to additional paid-in capital, will upon adoption be recorded to income tax expense as they occur. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): " Classification of Certain Cash Receipts and Cash Payments, " with guidance intended to reduce the diversity in practice regarding how certain cash receipts and cash payments are presented and classified within the statement of cash flows. The update addresses eight specific cash flow issues including debt prepayment or debt extinguishment costs, the settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)), distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The guidance will be effective for annual and interim periods beginning after December 15, 2017. The Company is currently evaluating the effect that this guidance may have on its consolidated financial statements. In October 2016, the FASB issued ASU-2016-16, Income Taxes (Topic 740): " Intra-Entity Transfers of Assets Other Than Inventory, " with guidance intended to more faithfully represent the economics of intra-entity asset transfers. The update clarifies that entities must recognize the income tax consequences of intra-entity asset transfers, other than inventory, when the transfer occurs. The guidance will be effective for annual and interim periods beginning after December 15, 2017. The Company is currently evaluating the effect that this guidance may have on its consolidated financial statements. In December 2016, the FASB issued ASU-2016-19, Technical Corrections and Improvements, with amendments that cover a wide range of topics in the Accounting Standards Codification. This update includes amendments related to differences between original guidance and the Accounting Standards Codification, guidance clarification and reference corrections, simplifications to the Accounting Standards Codification, and minor improvements to the guidance. Most of the amendments do not require transition guidance and are effective upon issuance of the update. However, six amendments clarify guidance or correct references in the Accounting Standards Codification that could potentially result in changes in current practice because of either misapplication or misunderstanding of current guidance. Early adoption is permitted for the amendments that require transition guidance. The Company adopted this guidance during 2016, and it did not have a material effect on the Company’s consolidated financial statements.

FAIR VALUE MEASUREMENT AND FINA

FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS	FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS The carrying values of cash equivalents, accounts receivable, prepaid expenses and other current assets, and accounts payable in the Company’s consolidated balance sheets approximated their fair values as of December 31, 2016 and 2015 due to their short-term nature. Certain of the Company’s financial instruments are measured at fair value using a three-level hierarchy that prioritizes the inputs used to measure fair value. This hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 - Inputs are quoted prices for identical instruments in active markets. • Level 2 - Inputs are quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; or model-derived valuations whose inputs are observable or whose significant value drivers are observable. • Level 3 - Inputs are unobservable and reflect the Company's own assumptions, based on the best information available, including the Company's own data. The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2016 and 2015 are indicated below (in thousands): As of December 31, 2016 Fair Value Measurement Based on Carrying Fair Value Quoted Prices in Active Markets Significant Significant Unobservable Assets Deferred Compensation Plan assets (1) $ 37,382 $ 37,382 $ — $ 37,382 $ — Liabilities Term Loan Facility due August 2021, current portion (2) $ 20,000 $ 20,000 $ — $ 20,000 $ — Term Loan Facility due August 2021, long-term portion (2) $ 375,000 $ 375,000 $ — $ 375,000 $ — 2% Convertible Senior Notes due June 2022 (3) $ 600,000 $ 469,800 $ 469,800 $ — $ — Deferred Compensation Plan liabilities (1) $ 28,582 $ 28,582 $ — $ 28,582 $ — Contingent consideration (4) $ 31,048 $ 31,048 $ — $ — $ 31,048 As of December 31, 2015 Fair Value Measurement Based on Carrying Fair Value Quoted Prices in Active Markets Significant Significant Unobservable Assets Deferred Compensation Plan assets (1) $ 30,726 $ 30,726 $ — $ 30,726 $ — Liabilities 2% Convertible Senior Notes due June 2022 (3) $ 600,000 $ 602,250 $ 602,250 $ — $ — Deferred Compensation Plan liabilities (1) $ 25,581 $ 25,581 $ — $ 25,581 $ — (1) The Deferred Compensation Plan liabilities are non-current liabilities recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense in the Company’s consolidated statements of operations. The calculation of the Deferred Compensation Plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants and is included in the line item captioned “Other non-current liabilities” on the Company’s consolidated balance sheets. The Company invests participant contributions in corporate-owned life insurance (“COLI”) policies, for which the cash surrender value is included in the line item captioned “Other non-current assets” on the Company’s consolidated balance sheets. (2) The difference between the amount shown as the carrying value in the above tables and the amount shown on the Company’s consolidated balance sheets as of December 31, 2016 and 2015 represents the unaccreted discount related to deferred debt issuance costs. (3) The difference between the amount shown as the carrying value in the above tables and the amount shown on the Company’s consolidated balance sheets at December 31, 2016 and 2015 represents the unaccreted discounts related to deferred debt issuance costs and bifurcation of the conversion feature of the notes. (4) The contingent consideration liability is a non-current liability representing future consideration potentially payable to Teva upon the achievement of specified commercialization events related to methylphenidate hydrochloride in accordance with the Termination Agreement related to the Teva Transaction as described in "Note 2. Business Acquisitions." A discounted cash flow valuation model was used to value the contingent consideration. The valuation is based on significant unobservable inputs, including the probability and timing of successful product launch and the expected number of competitors at the time of launch and the launch anniversary date. The Company conducts a quarterly review of the underlying inputs and assumptions and significant changes in unobservable inputs could result in material changes to the contingent consideration liability. Changes in the value of the contingent consideration liability are included in "Other income (expense)" on the Company's consolidated statements of operations. A 5% increase or decrease in the probability of successful product launch would cause the fair value of the contingent consideration to both increase and decrease by $1.6 million , respectively. An increase or decrease in the number of competitors at the date of the product launch or the first anniversary would cause the fair value of the contingent consideration to decrease by $13.4 million and increase by $5.1 million , respectively. The maximum aggregate amount in contingent consideration payments the Company could be expected to make to Teva in accordance with the Termination Agreement related to methylphenidate hydrochloride is $40.0 million . The following table presents the changes in Level 3 instruments measured on a recurring basis for the year ended December 31, 2016 (in thousands): As of December 31, Completion of Teva Transaction August 3, 2016 Change in Fair Value Included in Earnings (1) As of December 31, Contingent consideration — $30,100 $948 $31,048 (1) Earnings effect is included in Other, net in Other income (expense) in the Company's consolidated statement of operations.

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	12 Months Ended
	Dec. 31, 2016
Investments Schedule [Abstract]
SHORT-TERM INVESTMENTS	SHORT-TERM INVESTMENTS Prior to December 31, 2014, the Company invested its excess cash in high quality (AAA-rated) short-maturity marketable debt securities, such as commercial paper and corporate bonds. The Company historically held all of its investments in marketable debt securities until maturity. Accordingly, these investments were accounted for as “held-to-maturity” securities and were recorded at amortized cost, which approximated fair value. During the first quarter of 2015, the Company allowed all of its investments in marketable debt securities to mature. The proceeds from these maturities of $200.1 million were used to fund part of the Tower Acquisition on March 9, 2015. The Company held no short-term investments as of December 31, 2016 and 2015 .

ACCOUNTS RECEIVABLE

ACCOUNTS RECEIVABLE	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE The composition of accounts receivable, net is as follows (in thousands): December 31, 2016 December 31, 2015 Gross accounts receivable (1) $ 780,865 $ 738,730 Less: Rebate reserve (277,800 ) (265,229 ) Less: Chargeback reserve (154,686 ) (102,630 ) Less: Distribution services reserve (18,318 ) (12,576 ) Less: Discount reserve (17,957 ) (18,657 ) Less: Uncollectible accounts reserve (2) (54,736 ) (15,187 ) Accounts receivable, net $ 257,368 $ 324,451 (1) Includes estimated $40.3 million and $40.6 million as of December 31, 2016 and 2015 , respectively, receivable due from Turing for reimbursement of Daraprim® chargebacks and Medicaid rebate liabilities. (2) As a result of the uncertainty of collection that developed since the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, the Company recorded a reserve of $48.0 million as of March 31, 2016, which represented the full amount of the estimated receivable due from Turing. See "Note 4. Summary of Significant Accounting Policies - Concentration of Credit Risk" for additional information regarding the Turing receivable. During the fourth quarter of 2016, the Company received a $7.7 million payment from Turing, which reduced the reserve balance to $40.3 million as of December 31, 2016 . A roll-forward of the rebate and chargeback reserves activity for the years ended December 31, 2016 , 2015 and 2014 is as follows (in thousands): Years Ended December 31, Rebate reserve 2016 2015 2014 Beginning balance $ 265,229 $ 88,812 $ 88,449 Acquired balances — 75,447 — Provision recorded during the period for Impax Generics rebates 740,758 571,642 260,747 Credits issued during the period for Impax Generics rebates (728,187 ) (470,672 ) (260,384 ) Ending balance $ 277,800 $ 265,229 $ 88,812 The payment mechanisms for rebates in the Impax Generics and Impax Specialty Pharma divisions are different, which impacts the location on the Company's consolidated balance sheets. Impax Specialty Pharma rebates are classified as "Accrued expenses" on the Company's consolidated balance sheets. Years Ended December 31, 2016 2015 2014 Chargeback reserve Beginning balance $ 102,630 $ 43,125 $ 37,066 Acquired balances — 24,532 — Provision recorded during the period 1,014,108 833,157 487,377 Credits issued during the period (962,052 ) (798,184 ) (481,318 ) Ending balance $ 154,686 $ 102,630 $ 43,125

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory, net of carrying value reserves, as of December 31, 2016 and 2015 consisted of the following (in thousands): December 31, 2016 December 31, 2015 Raw materials $ 53,808 $ 52,366 Work in-process 3,280 4,417 Finished goods 130,879 82,311 Total inventory 187,967 139,094 Less: Non-current inventory 12,737 13,512 Total inventory-current $ 175,230 $ 125,582 Inventory carrying value reserves were $38.0 million and $24.1 million as of December 31, 2016 and 2015 , respectively. The Company recognizes pre-launch inventories at the lower of its cost or the expected net selling price. Cost is determined using a standard cost method, which approximates actual cost, and assumes a FIFO flow of goods. Costs of unapproved products are the same as approved products and include materials, labor, quality control, and production overhead. When the Company concludes FDA approval is expected within approximately six months, the Company will generally begin to schedule manufacturing process validation studies as required by the FDA to demonstrate the production process can be scaled up to manufacture commercial batches. Consistent with industry practice, the Company may build quantities of pre-launch inventories of certain products pending required final FDA approval and/or resolution of patent infringement litigation, when, in the Company’s assessment, such action is appropriate to prepare for the anticipated commercial launch, FDA approval is expected in the near term, and/or the related litigation will be resolved in the Company’s favor. The capitalization of unapproved pre-launch inventory involves risks, including, among other items, FDA approval of product may not occur; approvals may require additional or different testing and/or specifications than used for unapproved inventory; and, in cases where the unapproved inventory is for a product subject to litigation, the litigation may not be resolved or settled in favor of the Company. If any of these risks were to materialize and the launch of the unapproved product delayed or prevented, then the net carrying value of unapproved inventory may be partially or fully reserved. Generally, the selling price of a generic pharmaceutical product is at discount from the corresponding brand product selling price. Typically, a generic drug is easily substituted for the corresponding branded product, and once a generic product is approved, the pre-launch inventory is typically sold within the subsequent three months . If the market prices become lower than the product inventory carrying costs, then the pre-launch inventory value is reduced to such lower market value. If the inventory produced exceeds the estimated market acceptance of the generic product and becomes short-dated, a carrying value reserve will be recorded. In all cases, the carrying value of the Company's pre-launch product inventory is lower than the respective estimated net selling prices. The carrying value of unapproved inventory less reserves was $29.2 million and $8.7 million at December 31, 2016 and 2015 , respectively. To the extent inventory is not scheduled to be utilized in the manufacturing process and/or sold within twelve months of the balance sheet date, it is included as a component of other non-current assets. Amounts classified as non-current inventory consist of raw materials, net of valuation reserves. Raw materials generally have a shelf life of approximately three to five years, while finished goods generally have a shelf life of approximately two years.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment, net of accumulated depreciation, consisted of the following (in thousands): December 31, 2016 December 31, 2015 Land $ 5,603 $ 5,773 Buildings and improvements 174,303 165,322 Equipment 143,818 135,998 Office furniture and equipment 15,767 14,548 Construction-in-progress 50,191 25,659 Property, plant and equipment, gross 389,682 347,300 Less: Accumulated depreciation (156,310 ) (133,144 ) Property, plant and equipment, net $ 233,372 $ 214,156 Depreciation expense was $29.1 million , $25.5 million and $20.4 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. Unpaid vendor invoices relating to purchases of property, plant and equipment of $4.0 million , $4.5 million and $1.9 million , which were accrued as of December 31, 2016 , 2015 and 2014 , respectively, have been excluded from the purchase of property, plant, and equipment and the change in accounts payable and accrued expenses in the Company’s consolidated statements of cash flows.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS AND GOODWILL	INTANGIBLE ASSETS AND GOODWILL Intangible Assets The Company's intangible assets include both finite lived and indefinite-lived assets. Finite lived intangible assets, consisting of marketed product rights and royalties received from product sales by the Company's third party partners, are amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. The remaining weighted-average amortization period for the Company's finite lived intangible assets not yet fully amortized is 8.2 years as of December 31, 2016 . Indefinite-lived intangible assets consist of acquired IPR&D product rights and acquired future royalty rights to be paid based on other companies’ net sales of products not yet approved. IPR&D assets acquired in a business combination are considered indefinite-lived until the completion or abandonment of the associated research and development efforts. Amortization over the estimated useful life will commence at the time of the respective product’s launch. If FDA approval to market the product is not obtained, the Company will immediately expense the related capitalized cost. Finite lived intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. All of the Company's indefinite-lived intangible assets are tested for impairment at least annually during the fourth quarter of the fiscal year, or more often if indicators of impairment are present. Impairment testing requires management to estimate the future undiscounted cash flows of an intangible asset using assumptions believed to be reasonable, but which are unpredictable and inherently uncertain. Actual future cash flows may differ from the estimates used in the impairment testing. The Company recognizes an impairment loss when and to the extent that the estimated fair value of an intangible asset is less than its carrying value. The following tables show the gross carrying values and accumulated amortization, where applicable, of the Company’s intangible assets by type for the consolidated balance sheets presented (in thousands): December 31, 2016 Gross Carrying Value Accumulated Amortization Intangible Assets, Net Amortized intangible assets: Marketed product rights $ 524,733 $ (139,245 ) $ 385,488 Royalties 339 (339 ) — 525,072 (139,584 ) 385,488 Non-amortized intangible assets: Acquired IPR&D product rights 232,576 — 232,576 Acquired future royalty rights 2,402 — 2,402 234,978 — 234,978 Total intangible assets $ 760,050 $ (139,584 ) $ 620,466 December 31, 2015 Gross Carrying Value Accumulated Amortization Intangible Assets, Net Amortized intangible assets: Marketed product rights $ 458,675 $ (82,906 ) $ 375,769 Royalties 2,200 (189 ) 2,011 460,875 (83,095 ) 377,780 Non-amortized intangible assets: Acquired IPR&D product rights 145,640 — 145,640 Acquired future royalty rights 78,600 — 78,600 224,240 — 224,240 Total intangible assets $ 685,115 $ (83,095 ) $ 602,020 During the first quarter of 2016, the Company capitalized $3.5 million of milestone payments due to an affiliate of Teva under the terms of the product agreement between the parties and related to the FDA's approval and the Company's subsequent commercial launch of Emverm® (mebendazole) 100 mg chewable tablets. See "Note 20. Alliance and Collaboration Agreements" for additional information related to the Mebendazole Product Agreement. As of December 31, 2015, the Emverm® acquired IPR&D product right had a carrying value of $82.8 million , which was the fair value assigned by the Company during the purchase price allocation accounting for the Tower Acquisition. As a result of the Company's commercial launch of the product during the first quarter of 2016, the Company transferred the total $86.3 million of asset value from non-amortized, indefinite-lived acquired IPR&D product rights to amortized, finite-lived marketed product rights and began amortization of the asset. The Emverm® marketed product right intangible asset will be amortized over an estimated useful life of nine years based on the pattern of economic benefit expected to be realized through 2024. During the second quarter of 2016, the Company recognized a total of $1.5 million of charges within cost of revenues impairment charges on the Company's consolidated statement of operations related to two currently marketed products, which were acquired as part of the Tower Acquisition, primarily due to active pharmaceutical ingredient ("API") supply issues and minimal sales activity, resulting in immediate discontinuation of one product and rapid phase-out of the other. Additionally, one of the Company's IPR&D generic products, also acquired as part of the Tower Acquisition, was determined to be impaired as a result of the commercial launch of a competitor's generic product, resulting in a $1.0 million charge to in-process research and development impairment charges on the Company's consolidated statement of operations. During the third quarter of 2016, the Company recorded $613.0 million of intangible asset additions as a result of the Teva Transaction, of which $455.5 million were amortized, finite-lived marketed product rights and $157.5 million were non-amortized, indefinite-lived acquired IPR&D product rights. Refer to "Note 2. Business Acquisitions" for additional information on the Teva Transaction. Pursuant to the Termination Agreement, the Company reacquired its full commercial rights to its pending ANDA for the generic equivalent to Concerta® (methylphenidate hydrochloride), a product candidate the Company had acquired in the Tower Acquisition that the Company had previously partnered with Teva USA, in accordance with the terms of the Strategic Alliance Agreement, as amended, pursuant to which each party would retain 50% of the gross profit realized upon sales of the product following approval. The Company's 50% interest in this product was previously considered a non-amortized, indefinite-lived acquired future royalty right owing to the fact that Teva would sell the product upon receiving FDA approval and pay the Company 50% of the gross profit realized. Upon reacquisition of Teva's interest in this product, the $70.8 million asset value of the Company's 50% interest, determined at the time of the Tower Acquisition, was transferred to non-amortized, indefinite-lived acquired IPR&D products rights, as reflected in the tables above. In addition to the intangible asset additions resulting from the Teva Transaction as described above, during the third quarter of 2016, the Company also commercially launched two products, resulting in the transfer of $11.0 million of asset value from non-amortized, indefinite-lived acquired IPR&D product rights to amortized, finite-lived marketed products rights. Upon closing the Teva Transaction on August 3, 2016, the Company initiated the process of transferring and securing Teva’s and Allergan’s customers for the acquired products to its account. The Company assumed certain price concessions would occur following the closing, however, the Company elected to take additional price reductions on certain of the acquired products in order to retain key customers. These reductions produced significantly lower than expected operating cash flows from the Acquired Product Lines and triggered an impairment analysis. The Company's impairment analysis for the third quarter of 2016 resulted in the recognition of a total $251.0 million non-cash impairment charge to earnings. Of the total $251.0 million impairment charge, $248.0 million was recorded in cost of revenues impairment charges and $3.0 million was recorded in in-process research and development impairment charges, each in the Company’s consolidated statement of operations for the third quarter of 2016. Certain other non-cash impairment charges unrelated to the Teva Transaction were also recorded in the third quarter of 2016. During the third quarter of 2016, the Company also recognized a total of $34.2 million of intangible asset impairment charges, of which $8.5 million was recognized in cost of revenues impairment charges on the Company's consolidated statement of operations and attributable to the full impairment of three marketed products and one third-party partnered product where the Company received royalties from the sale of such product. The affected products were manufactured in the Company's Middlesex, New Jersey facility, which the Company is in the process of closing as discussed in "Note 18. Restructurings." The products were discontinued for several reasons, including the inability to efficiently transfer technology to another manufacturing site, the inability to continue to secure API from third parties on a timely basis, and/or minimal current and projected sales activity. The remaining $25.7 million of impairment charges recognized by the Company during the third quarter of 2016 were recognized in in-process research and development impairment charges and related to two of the Company's IPR&D product rights acquired in the Tower Acquisition due to delays in expected start of commercialization and lower pricing amid highly competitive market conditions, resulting in lower expected future cash flows. During the fourth quarter of 2016, the Company recognized a total of $253.9 million of intangible asset impairment charges, of which $230.6 million was recognized in cost of revenues impairment charges and $23.3 million was recognized in in-process research and development impairment charges on the Company's consolidated statement of operations. More than half of the total impairment charges incurred during the fourth quarter of 2016 was attributable to the Company’s epinephrine auto-injector product, which was acquired as part of the Tower Acquisition. The impairment charge on the epinephrine auto-injector product was triggered by current and projected price degradation as a result of changes in the pricing environment and additional competition. The Company also experienced even further price reductions on certain of the products acquired as part of the Teva Transaction during the fourth quarter of 2016, resulting in $57.4 million of additional intangible asset impairment charges, of which $53.7 million was recorded to cost of revenues impairment charges and $3.7 million was recorded to in-process research and development impairment charges. In addition, the Company recognized $36.3 million of intangible asset impairment related to its anthelmintic product franchise, of which $24.3 million was recorded to cost of revenues impairment charges and $12.0 million was recorded to in-process research and development impairment charges. The $24.3 million charge was attributable to lower than expected script volume for Emverm®. The $12.0 million charge recorded to in-process research and development during the fourth quarter of 2016 was attributable to a decision by the Company's management during the fourth quarter of 2016 to cease development on a next-generation version of Albenza® as a result of continued difficulties sourcing the API. The remainder of the fourth quarter of 2016 impairment charges were primarily attributable to the products acquired as part of the Tower Acquisition and resulted from lower current and/or forecasted pricing amid highly competitive market conditions, resulting in lower forecasted future cash flows. As a result of the annual intangible asset impairment testing performed during the fourth quarter of 2015, the Company recorded an impairment charge of $13.7 million , of which $7.3 million was recorded in cost of revenues impairment charges and $6.4 million was recorded in in-process research and development impairment charges in the Company's consolidated statement of operations. For the year ended December 31, 2015, the $13.7 million impairment charge was generally attributable to deteriorating market conditions for a small number of marketed products or, for acquired IPR&D product rights, a delay to the anticipated product launch or an economic decision by management not to move forward with the development or marketing of a product. The Company recorded an impairment charge of $2.9 million to cost of revenues impairment charges in 2014 as a result of continued severe price erosion on one of its marketed products, which price erosion began in 2013 and previously resulted in an impairment of the asset. The Company recognized amortization expense of $56.4 million , $40.2 million and $11.1 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, in cost of revenues in the consolidated statements of operations presented. The following table shows the expected future amortization of the Company’s finite lived intangible assets as of December 31, 2016 (in thousands): For the years ending December 31, Amortization 2017 $ 66,651 2018 69,718 2019 61,808 2020 48,555 2021 34,880 Thereafter 103,876 Total $ 385,488 Goodwill Goodwill on the Company’s consolidated balance sheets at December 31, 2016 and 2015 was the result of the 2015 Tower Acquisition and the 1999 merger of Impax Pharmaceuticals, Inc. with Global Pharmaceuticals Corporation. Goodwill had a carrying value of $207.3 million and $210.2 million at December 31, 2016 and 2015 , respectively. The change in the carrying value during the year ended December 31, 2016 compared to December 31, 2015 was attributable to the finalization of the purchase price allocation during the first quarter of 2016 for the Tower Acquisition as a result of the completion and filing of federal and state tax returns for the various entities acquired. This resulted in a first quarter adjustment of $1.8 million and a fourth quarter adjustment of $1.1 million to goodwill during the year ended December 31, 2016. At December 31, 2016 , the Company attributed $147.6 million and $59.7 million to the Impax Generics division and the Impax Specialty Pharma division, respectively. The Company concluded based on the results of the annual testing performed that the carrying value of goodwill was no t impaired as of December 31, 2016 or 2015 .

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES The following table sets forth the Company’s accrued expenses (in thousands): December 31, 2016 December 31, 2015 Payroll-related expenses $ 37,986 $ 37,419 Product returns 72,888 48,950 Accrued shelf stock 7,032 6,619 Government rebates (1) 72,063 91,717 Legal and professional fees 8,395 5,929 Income taxes payable — 830 Physician detailing sales force fees — 1,132 Interest payable 544 500 Estimated Teva and Allergan chargebacks and rebates (2) 14,813 — Other 17,290 11,615 Total accrued expenses $ 231,011 $ 204,711 (1) Includes estimated $6.8 million and $40.6 million as of December 31, 2016 and 2015 , respectively, of liabilities for Daraprim® chargebacks and rebates resulting from utilization by Medicaid, Medicare and other federal, state and local governmental programs, health plans and other health care providers for product sold under the Company’s labeler code, which amounts are subject to reimbursement by Turing in accordance with the terms of the Company's purchase agreement with Turing. The Company made payments of $33.5 million on Turing's behalf during 2016. See "Note 4. Summary of Significant Accounting Policies - Concentration of Credit Risk" for additional information related to the Turing receivable. (2) As discussed in "Note 2. Business Acquisitions," pursuant to certain agreed upon transition related services by and among the Company, Teva and Allergan after the closing of the Teva Transaction, the Company agreed to manage the payment process for certain commercial chargebacks and rebates on behalf of Teva and Allergan related to products each of Teva and Allergan sold into the channel prior to the Company's acquisition of the products. On August 18, 2016, the Company received a payment totaling $42.4 million from Teva and Allergan, which represented their combined estimate of the amount of commercial chargebacks and rebates to be paid by the Company on their behalf to wholesalers who purchased products from Teva and Allergan prior to the closing. Pursuant to the agreed upon transition services, Teva and Allergan are obligated to reimburse the Company for additional payments related to chargebacks and rebates for products they sold into the channel prior to the closing and made on their behalf in excess of the $42.4 million . If the total payments made by the Company on behalf of Teva and Allergan are less than $42.4 million , the Company is obligated to refund the difference to Teva and/or Allergan. As of December 31, 2016 , the Company had paid $27.6 million related to chargebacks and rebates as described above and $14.8 million remained in accrued expenses on the Company's consolidated balance sheet. Product Returns The Company maintains a return policy to allow customers to return product within specified guidelines. The Company estimates a provision for product returns as a percentage of gross sales based upon historical experience for sales made through its Impax Generics and Impax Specialty Pharma sales channels. Sales of product under the Private Label, Rx Partner and OTC Partner alliance, collaboration and supply agreements are not subject to returns. A rollforward of the return reserve activity for the years ended December 31, 2016 , 2015 and 2014 is as follows (in thousands): Years Ended December 31, 2016 2015 2014 Returns reserve Beginning balance $ 48,950 $ 27,174 $ 28,089 Acquired balances — 11,364 — Provision related to sales recorded in the period 52,383 43,967 12,016 Credits issued during the period (28,445 ) (33,555 ) (12,931 ) Ending balance $ 72,888 $ 48,950 $ 27,174

DEBT

DEBT	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
DEBT	DEBT Royal Bank of Canada Credit Facilities On August 3, 2016, the Company entered into a restatement agreement with Royal Bank of Canada, as administrative agent, and the lenders and guarantors party thereto (the "Restatement Agreement"). The Restatement Agreement amends and restates the Company's existing Revolving Credit Facility Agreement (as amended and restated, the "Amended and Restated Credit Agreement") to, among other things, (i) add a term loan feature to allow for the borrowing of up to $400.0 million of term loans (the "Term Loan Facility") by the Company in accordance with the terms of the Amended and Restated Credit Agreement, (ii) increase the aggregate principal amount of revolving loans permitted under the Amended and Restated Credit Agreement (the "Revolving Credit Facility," and, together with the Term Loan Facility, the "RBC Credit Facilities"), from $100.0 million to $200.0 million ; and (iii) extend the maturity date of the Revolving Credit Facility from August 4, 2020 to August 3, 2021. Borrowings under the Amended and Restated Credit Agreement will accrue interest at a rate equal to LIBOR or the base rate, plus an applicable margin. The applicable margin may be increased or reduced by 0.25% based on the Company's total net leverage ratio. Up to $12.5 million of the Revolving Credit Facility is available for issuance of letters of credit and any such letters of credit will reduce the amount available under the Revolving Credit Facility on a dollar-for-dollar basis. The Company is required to pay a commitment fee to the lenders on the average daily unused portion of the Revolving Credit Facility at 0.50% or 0.375% per annum, depending on the Company's total net leverage ratio. The Amended and Restated Credit Agreement contains certain negative covenants (subject to exceptions, materiality thresholds and other allowances) including, without limitation, negative covenants that limit the Company's and its restricted subsidiaries' ability to incur additional debt, guarantee other obligations, grant liens on assets, make loans, acquisitions or other investments, dispose of assets, make optional payments in connection with or modify certain debt instruments, pay dividends or make other payments on capital stock, engage in mergers or consolidations, enter into arrangements that restrict the Company's and its restricted subsidiaries' ability to pay dividends or grant liens, engage in transactions with affiliates, or change its fiscal year. The Amended and Restated Credit Agreement also includes a financial maintenance covenant whereby the Company must not permit its total net leverage ratio in any 12 -month period to exceed 5.00 :1.00, as tested at the end of each fiscal quarter. The Company was in compliance with all of its covenants under the Amended and Restated Credit Agreement as of December 31, 2016. The Amended and Restated Credit Agreement contains events of default, including, without limitation (subject to customary grace periods and materiality thresholds), events of default upon (i) the failure to make payments pursuant to the terms of the Amended and Restated Credit Agreement, (ii) violation of covenants, (iii) incorrectness of representations and warranties, (iv) cross-default and cross-acceleration to other material indebtedness, (v) bankruptcy events, (vi) material monetary judgments (to the extent not covered by insurance), (vii) certain matters arising under the Employee Retirement Income Security Act of 1974, as amended, that could reasonably be expected to result in a material adverse effect, (viii) the actual or asserted invalidity of the documents governing the RBC Credit Facilities, any material guarantees or the security interests (including priority thereof) required under the Amended and Restated Credit Agreement and (ix) the occurrence of a change of control (as defined therein). Upon the occurrence of certain events of default, the obligations under the Amended and Restated Credit Agreement may be accelerated and any remaining commitments thereunder may be terminated. The full amount of proceeds from the Term Loan Facility of $400.0 million , along with $196.4 million of cash were used to finance the Teva Transaction (including transaction costs) at closing on August 3, 2016. As of December 31, 2016, the full amount of the $200.0 million Revolving Credit Facility remains available to the Company for working capital and other general corporate purposes. In connection with the Term Loan Facility, the Company incurred $11.0 million of debt issuance costs for banking, legal and accounting fees and other expenses which were recorded on the Company's consolidated balance sheet as a reduction to the current and long-term portions of debt related to the Term Loan Facility. These deferred debt issuance costs will be accreted to interest expense over the term of the debt using the effective interest method. In connection with the increase in the aggregate principal amount of revolving loans permitted under the Revolving Credit Facility, the Company incurred $0.8 million of debt issuance costs for banking fees which were recorded as an asset with current and long-term portions on the Company's consolidated balance sheet. These deferred debt issuance costs, in addition to the $0.3 million balance remaining from the initial $100.0 million revolving credit facility, will be amortized to interest expense over the term of the Revolving Credit Facility using the straight-line method. For the period of August 3, 2016 through December 31, 2016 , the Company recognized $6.9 million of interest expense related to the Term Loan Facility, of which $6.0 million was cash and $0.9 million was non-cash accretion of the debt discount recorded for deferred debt issuance costs. As of December 31, 2016 , the Term Loan Facility had a carrying value of $384.9 million , of which $17.7 million is classified as current debt and $367.2 million is classified as long-term debt on the Company's consolidated balance sheets. The Term Loan Facility requires quarterly principal payments of $5.0 million beginning from December 2016 through June 2021, and the remaining principal balance is payable in August 2021. As of December 31, 2016, the outstanding principal amount for the Term Loan Facility was $395.0 million . 2% Convertible Senior Notes due June 2022 On June 30, 2015, the Company issued an aggregate principal amount of $600.0 million of 2.00% Convertible Senior Notes due June 2022 (the “Notes”) in a private placement offering, which are the Company’s senior unsecured obligations. The Notes were issued pursuant to an Indenture dated June 30, 2015 (the “Indenture”) between the Company and Wilmington Trust, N.A., as trustee. The Indenture includes customary covenants and sets forth certain events of default after which the Notes may be due and payable immediately. The Notes will mature on June 15, 2022, unless earlier redeemed, repurchased or converted. The Notes bear interest at a rate of 2.00% per year, and interest is payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2015. The conversion rate for the Notes is initially set at 15.7858 shares per $1,000 of principal amount, which is equivalent to an initial conversion price of $63.35 per share of the Company’s common stock. If a Make-Whole Fundamental Change (as defined in the Indenture) occurs or becomes effective prior to the maturity date and a holder elects to convert its Notes in connection with the Make-Whole Fundamental Change, the Company is obligated to increase the conversion rate for the Notes so surrendered by a number of additional shares of the Company’s common stock as prescribed in the Indenture. Additionally, the conversion rate is subject to adjustment in the event of an equity restructuring transaction such as a stock dividend, stock split, spinoff, rights offering, or recapitalization through a large, nonrecurring cash dividend (“standard antidilution provisions,” per FASB ASC 815-40, Contracts in Entity’s Own Equity ("ASC 815-40")). The Notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding December 15, 2021 only under the following circumstances: (i) If during any calendar quarter commencing after the quarter ending September 30, 2015 (and only during such calendar quarter) the last reported sale price of the Company’s common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than 130% of the conversion price on each applicable trading day; or (ii) If during the five business day period after any 10 consecutive trading day period (the “measurement period”) in which the trading price per $1,000 of principal amount of Notes for each trading day of the measurement period was less than 98% of the product of the last report sale price of the Company’s common stock and the conversion rate on each such trading day; or (iii) Upon the occurrence of corporate events specified in the Indenture. On or after December 15, 2021 until the close of business on the second scheduled trading day immediately preceding the maturity date, the holders may convert their Notes at any time, regardless of the foregoing circumstances. The Company may satisfy its conversion obligation by paying or delivering, as the case may be, cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock, at the Company’s election and in the manner and subject to the terms and conditions provided in the Indenture. Concurrently with the offering of the Notes and using a portion of the proceeds from the sale of the Notes, the Company entered into a series of convertible note hedge and warrant transactions (the “Note Hedge Transactions” and “Warrant Transactions”) which are designed to reduce the potential dilution to the Company’s stockholders and/or offset the cash payments the Company is required to make in excess of the principal amount upon conversion of the Notes. The Note Hedge Transactions and Warrant Transactions are separate transactions, in each case, entered into by the Company with a financial institution and are not part of the terms of the Notes. These transactions will not affect any holder’s rights under the Notes, and the holders of the Notes have no rights with respect to the Note Hedge Transactions and Warrant Transactions. See “Note 14. Stockholders’ Equity” for additional information. At the June 30, 2015 issuance date of the Notes, the Company did not have the necessary number of authorized but unissued shares of its common available to share-settle the conversion option of the Notes. Therefore, in accordance with guidance found in FASB ASC 470-20, Debt with Conversion and Other Options, and FASB Topic ASC 815-15, Embedded Derivatives , the conversion option of the Notes was deemed an embedded derivative requiring bifurcation from the Notes (host contract) and separate accounting as a derivative liability. The fair value of the conversion option derivative liability at June 30, 2015 was $167.0 million , which was recorded as a reduction to the carrying value of the debt and will be accreted to interest expense over the term of the debt using the effective interest method. Although the Company subsequently amended the Company's Restated Certificate of Incorporation to increase the authorized number of shares of the Company's common stock in December 2015, the debt discount remains and continues to be accreted to interest expense. See "Note 14. Stockholders' Equity" for additional information. In connection with the issuance of the Notes, the Company incurred $18.7 million of debt issuance costs for banking, legal and accounting fees and other expenses. This amount was also recorded on the Company’s balance sheet as a reduction to the carrying value of the debt and is being accreted to interest expense over the term of the debt using the effective interest method. For the years ended December 31, 2016 and 2015 , the Company recognized $33.8 million and $16.3 million , respectively, of interest expense related to the Notes, of which $12.0 million and $6.0 million , respectively, was cash and $21.8 million and $10.3 million , respectively, was non-cash accretion of the debt discounts recorded. As the Notes mature in 2022, they have been classified as long-term debt on the Company’s consolidated balance sheets, with a carrying value of $446.4 million and $424.6 million as of December 31, 2016 and 2015 , respectively. Accrued interest payable on the Notes of $0.5 million as of both December 31, 2016 and 2015 was included in accrued expenses on the Company's consolidated balance sheets. Loss on Early Extinguishment of Debt – Barclays $435.0 million Term Loan In connection with the Tower Acquisition during the first quarter of 2015, the Company entered into a $435.0 million senior secured term loan facility (the “Barclays Term Loan”) and a $50.0 million senior secured revolving credit facility (the “Barclays Revolver” and collectively with the Barclays Term Loan, the “Barclays Senior Secured Credit Facilities”), pursuant to a credit agreement, dated as of March 9, 2015, by and among the Company, the lenders party thereto from time to time and Barclays Bank PLC ("Barclays"), as administrative and collateral agent (the “Barclays Credit Agreement”). In connection with the Barclays Senior Secured Credit Facilities, the Company incurred debt issuance costs for banking, legal and accounting fees and other expenses of $17.8 million , which were previously reflected as a discount to the carrying value of the debt on the Company's consolidated balance sheet in accordance with ASU 2015-03. Prior to repayment of the Barclays Term Loan on June 30, 2015, this debt discount was accreted to interest expense over the term of the loan using the effective interest rate method. On June 30, 2015, the Company used $436.4 million of the proceeds from the sale of the Notes to repay the $435.0 million of principal and $1.4 million of accrued interest due on its Barclays Term Loan under the Barclays Credit Agreement. In connection with this repayment of the loan, for the quarter ended June 30, 2015, the Company recorded a loss on early extinguishment of debt of $16.9 million related to the unaccreted portion of the debt discount. For the six months ended June 30, 2015, the Company incurred total interest expense related to the Barclays Term Loan of $10.7 million , of which $9.8 million was cash and $0.9 million was non-cash accretion of the debt discount recorded. In addition, included in interest expense for 2015 is a $2.3 million ticking fee paid to Barclays during the first quarter of 2015, prior to the funding of the Barclays Senior Secured Credit Facilities on March 9, 2015, to lock in the financing terms from the lenders’ commitment of the Barclays Term Loan until the actual allocation of the loan occurred at the closing of the Tower Acquisition.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS’ EQUITY Preferred Stock Pursuant to its Restated Certificate of Incorporation (the “Certificate of Incorporation”), the Company is authorized to issue 2,000,000 shares of “blank check” preferred stock, $0.01 par value per share, which enables the Board of Directors, from time to time, to create one or more new series of preferred stock. Each series of preferred stock issued can have the rights, preferences, privileges and restrictions designated by the Board of Directors. The issuance of any new series of preferred stock could affect, among other things, the dividend, voting, and liquidation rights of the Company’s common stock. The Company had no preferred stock issued or outstanding as of December 31, 2016 and 2015 . Common Stock Pursuant to its Certificate of Incorporation, the Company is authorized to issue 150,000,000 shares of common stock, $0.01 par value per share, of which 73,948,340 shares have been issued and 73,704,611 shares were outstanding as of December 31, 2016 . In addition, the Company had reserved for issuance the following amounts of shares of its common stock for the purposes described below as of December 31, 2016 (in thousands): Shares issued 73,948 Stock options outstanding (1) 2,234 Conversion of Notes payable (2) 9,471 Warrants outstanding (see below) 9,471 Total shares of common stock issued and reserved for issuance 95,124 (1) See “Note 16. Share-Based Compensation” (2) See “Note 13. Debt” Warrants As discussed in “Note 13. Debt”, on June 30, 2015, the Company entered into a series of Note Hedge Transactions and Warrant Transactions with a financial institution which are designed to reduce the potential dilution to the Company’s stockholders and/or offset the cash payments the Company is required to make in excess of the principal amount upon conversion of the Notes. Pursuant to the Warrant Transactions, the Company sold to a financial institution 9.47 million warrants to purchase the Company’s common stock, for which it received proceeds of $88.3 million . The warrants have an exercise price of $81.277 per share (subject to adjustment), are immediately exercisable, and have an expiration date of September 15, 2022. Additional Paid-In Capital Pursuant to the Note Hedge Transactions, the Company purchased from a financial institution 0.6 million call options on the Company's common stock, for which it paid consideration of $147.0 million . Each call option entitles the Company to purchase 15.7858 shares of the Company's common stock at an exercise price of $63.35 per share, is immediately exercisable, and has an expiration date of June 15, 2022, subject to earlier exercise. At the time of the Note Hedge Transactions, because of an insufficient number of authorized but unissued shares of the Company's common stock, these call options did not meet the criteria for equity classification under ASC 815-40 and were accounted for as a derivative asset. As of December 8, 2015, pursuant to the Company's amendment to its Certificate of Incorporation to increase the number of authorized shares of common stock, the call options purchased pursuant to the Note Hedge Transactions (formerly a derivative asset) and the conversion option of the Notes (formerly an embedded derivative liability) were reclassified to equity in additional paid-in capital. The net effect of the reclassification of these derivatives was a $21.0 million , net of tax, increase in additional paid-in capital reflected on the Company's December 31, 2015 consolidated balance sheet. During the year ended December 31, 2015, the Company recognized in its consolidated statement of operations $13.0 million of net expense related to the change in the fair value of the former derivative asset and liability. There was no comparable expense recognized in 2016.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The Company's basic earnings per common share (“EPS”) is computed by dividing net income (loss) available to the Company’s common stockholders (as presented on the consolidated statements of operations) by the weighted-average number of shares of the Company’s common stock outstanding during the period. The Company’s restricted stock awards (non-vested shares) are issued and outstanding at the time of grant but are excluded from the Company’s computation of weighted-average shares outstanding in the determination of basic EPS until vesting occurs. For purposes of calculating diluted EPS, the denominator includes both the weighted-average number of shares of common stock outstanding and the number of common stock equivalents if the inclusion of such common stock equivalents would be dilutive. Dilutive common stock equivalents potentially include warrants, stock options and non-vested restricted stock awards using the treasury stock method and the number of shares of common stock issuable upon conversion of the Company’s outstanding convertible notes payable. In the case of the Company’s outstanding convertible notes payable, the diluted EPS calculation is further affected by an add-back of interest expense, net of tax, to the numerator under the assumption that the interest would not have been incurred if the convertible notes had been converted into common stock. The following is a reconciliation of basic and diluted net income (loss) per share of common stock for the three years ended December 31, 2016 , 2015 and 2014 (in thousands, except per share amounts): Years Ended December 31, 2016 2015 2014 Basic (Loss) Earnings Per Common Share: Net (loss) income $ (472,031 ) $ 38,997 $ 57,353 Weighted-average common shares outstanding 71,147 69,640 68,186 Basic (loss) earnings per share $ (6.63 ) $ 0.56 $ 0.84 Diluted (Loss) Earnings Per Common Share: Net (loss) income $ (472,031 ) $ 38,997 $ 57,353 Add-back of interest expense on outstanding convertible notes payable, net of tax — (1) — (2) — (3) Adjusted net (loss) income $ (472,031 ) $ 38,997 $ 57,353 Weighted-average common shares outstanding 71,147 69,640 68,186 Weighted-average incremental shares related to assumed exercise of warrants and stock options, vesting of non-vested shares and ESPP share issuance — (4) 2,387 (5) 2,344 Weighted-average incremental shares assuming conversion of outstanding notes payable — (1) — (2) — (3) Diluted weighted-average common shares outstanding 71,147 (4) 72,027 (6) 70,530 (7) Diluted net (loss) income per share $ (6.63 ) $ 0.54 $ 0.81 (1) For the year ended December 31, 2016 , the Company incurred a net loss, which cannot be diluted, so basic and diluted loss per common share were the same. Accordingly, there were no numerator or denominator adjustments related to the Company's outstanding Notes. (2) The numerator and denominator adjustments related to the Company’s convertible notes payable were excluded from the computation because the add-back of interest expense, net of tax, to the numerator had a greater effect on the quotient than the inclusion of the incremental shares assuming conversion of the convertible notes payable in the denominator, resulting in anti-dilution. (3) Not applicable to the period presented. (4) For the year ended December 31, 2016 , the Company incurred a net loss, which cannot be diluted, so basic and diluted loss per common share were the same. As of December 31, 2016 , shares issuable but not included in the Company's calculation of diluted EPS, which could potentially dilute future earnings, included 9.47 million warrants outstanding, 9.47 million shares for conversion of outstanding Notes payable, 2.2 million stock options outstanding and 2.2 million non-vested restricted stock awards. (5) As of December 31, 2015 , the approximately 9.47 million warrants outstanding have been excluded from the denominator of the diluted EPS computation under the treasury stock method because the exercise price of the warrants exceeds the average market price of the Company’s common stock for the period, so inclusion in the calculation would be anti-dilutive. (6) As of December 31, 2015 , shares issuable but not included in the Company’s calculation of diluted EPS, which could potentially dilute future earnings, included 9.47 million for warrants outstanding, 9.47 million shares for conversion of outstanding Notes payable, 1.7 million stock options outstanding and 1.5 million non-vested restricted stock awards. (7) For the year ended December 31, 2014 , the Company excluded 0.9 million stock options from the computation of diluted net income per common share as the effect of these options would have been anti-dilutive.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION The Company recognizes the grant date fair value of each option and share of restricted stock over its vesting period. Stock options and restricted stock awards are granted under the Company’s Third Amended and Restated 2002 Equity Incentive Plan (the “2002 Plan”), generally vest over a four year period and, in the case of stock options, have a term of ten years. Impax Laboratories, Inc. 1999 Equity Incentive Plan ("1999 Plan") The aggregate number of shares of common stock authorized for issuance pursuant to the Company's 1999 Plan is 5,000,000 shares. There were 938 , 10,938 and 30,438 stock options outstanding as of December 31, 2016 , 2015 and 2014 , respectively, under the 1999 Plan. Impax Laboratories, Inc. Third Amended and Restated 2002 Equity Incentive Plan ("2002 Plan") The aggregate number of shares of common stock authorized for issuance pursuant to the Company's 2002 Plan is 15,950,000 shares. There were 2,233,393 , 2,394,433 and 3,006,367 stock options outstanding as of December 31, 2016 , 2015 and 2014 , respectively, and 2,160,127 , 2,146,498 and 2,327,176 non-vested restricted stock awards outstanding as of December 31, 2016 , 2015 and 2014 , respectively, under the 2002 Plan. The stock option activity for all of the Company’s equity compensation plans noted above is summarized as follows: Stock Options Number of Shares Weighted- Outstanding at December 31, 2013 3,770,905 $ 14.01 Options granted 386,600 25.27 Options exercised (778,112 ) 13.76 Options forfeited (337,213 ) 20.48 Outstanding at December 31, 2014 3,042,180 $ 14.78 Options granted 406,950 41.27 Options exercised (1,042,198 ) 9.87 Options forfeited (1,561 ) 16.70 Outstanding at December 31, 2015 2,405,371 $ 21.39 Options granted 572,625 12.27 Options exercised (477,910 ) 19.09 Options forfeited (265,755 ) 35.88 Outstanding at December 31, 2016 2,234,331 $ 22.67 Options exercisable at December 31, 2016 1,536,879 $ 18.71 In May 2016, a retiring member of the Company's Board of Directors exercised vested stock options on a cashless basis, whereby the Company withheld 19,022 shares to cover the $0.6 million of proceeds due to the Company, representing the aggregate exercise price of the options. As of December 31, 2016 , stock options outstanding and exercisable had average remaining contractual lives of 6.65 years and 5.69 years, respectively. Also, as of December 31, 2016 , stock options outstanding and exercisable each had aggregate intrinsic values of $3.2 million and $3.1 million , respectively, and restricted stock awards outstanding had an aggregate intrinsic value of $28.6 million . As of December 31, 2016 , the Company estimated there were 1,978,038 stock options and 1,912,345 shares of restricted stock granted to employees and service providers which had vested or were expected to vest. The Company grants restricted stock to certain eligible employees as a component of its long-term incentive compensation program. The restricted stock award grants are made in accordance with the Company’s 2002 Plan and are issued and outstanding at the time of grant but are subject to forfeiture if the vesting conditions are not met. A summary of the non-vested restricted stock awards is as follows: Restricted Stock Awards Non-Vested Weighted- Non-vested at December 31, 2013 2,123,835 $ 21.13 Granted 1,449,585 25.35 Vested (796,966 ) 21.36 Forfeited (449,278 ) 21.47 Non-vested at December 31, 2014 2,327,176 $ 23.61 Granted 973,742 45.40 Vested (930,159 ) 22.64 Forfeited (224,261 ) 29.01 Non-vested at December 31, 2015 2,146,498 $ 33.20 Granted 1,245,184 31.77 Vested (893,190 ) 28.97 Forfeited (338,365 ) 33.87 Non-vested at December 31, 2016 2,160,127 $ 34.02 Included in the 893,190 shares of restricted stock vested during the year ended December 31, 2016 are 355,423 shares with a weighted-average fair value of $27.69 per share that were withheld for minimum withholding tax purposes upon vesting of such awards from stockholders who elected to net share settle such tax withholding obligation. Included in the 930,159 shares of restricted stock vested during the year ended December 31, 2015 are 370,449 shares with a weighted-average fair value of $40.48 per share that were withheld for minimum withholding tax purposes upon vesting of such awards from stockholders who elected to net share settle such tax withholding obligation. As of December 31, 2016 , the Company had 1,739,672 shares available for issuance for either stock options or restricted stock awards, including 1,391,113 shares from the 2002 Plan, 296,921 shares from the 1999 Plan, and 51,638 shares from the 2001 Non-Qualified Employee Stock Purchase Plan (“ESPP”) Plan. As of December 31, 2016 , the Company had total unrecognized share-based compensation expense, net of estimated forfeitures, of $58.9 million related to all of its share-based awards, which is expected to be recognized over a weighted average period of 2.21 years. The intrinsic value of options exercised during the years ended December 31, 2016 , 2015 and 2014 was $5.8 million , $33.0 million and $10.4 million , respectively. The total fair value of restricted stock which vested during the years ended December 31, 2016 , 2015 and 2014 was $25.9 million , $21.1 million and $17.0 million , respectively. The Company estimated the fair value of each stock option award on the grant date using the Black-Scholes option pricing model with the following assumptions: Years Ended December 31, 2016 2015 2014 Volatility (range) 38.1% - 40.3% 39.9% - 40.1% 40.1% - 41.7% Volatility (weighted average) 38.3% 40.0% 40.2% Risk-free interest rate (range) 1.2% - 1.9% 0.8% - 1.8% 0.6% - 1.9% Risk-free interest rate (weighted average) 1.4% 1.7% 1.8% Dividend yield —% —% —% Weighted-average expected life (years) 6.14 6.18 6.07 Weighted average grant date fair value $12.27 $17.08 $10.45 The Company estimated the fair value of each stock option award on the grant date using the Black-Scholes option pricing model, wherein expected volatility is based on historical volatility of the Company’s common stock. The expected term calculation is based on the “simplified” method described in SAB No. 107, Share-Based Payments and SAB No. 110, Share-Based Payment, as the result of the simplified method provides a reasonable estimate in comparison to actual experience. The risk-free interest rate is based on the U.S. Treasury yield at the date of grant for an instrument with a maturity that is commensurate with the expected term of the stock options. The dividend yield of zero is based on the fact that the Company has never paid cash dividends on its common stock and has no present intention to pay cash dividends. Options granted under each of the above plans generally vest over four years and have a term of 10 years. The amount of share-based compensation expense recognized by the Company is as follows (in thousands): Years Ended December 31, 2016 2015 2014 Manufacturing expenses $ 6,364 $ 4,479 $ 2,494 Research and development 5,697 5,996 5,072 Selling, general and administrative 20,119 18,138 13,317 Total $ 32,180 $ 28,613 $ 20,883 The after tax impact of recognizing the share-based compensation expense related to FASB ASC Topic 718 on basic earnings per common share was $0.31 , $0.20 and $0.20 for the years ended December 31, 2016 , 2015 and 2014 , respectively, and diluted earnings per common share was $0.31 , $0.20 and $0.20 for the years ended December 31, 2016 , 2015 and 2014 , respectively. The Company recognized a deferred tax benefit of $9.6 million , $9.2 million and $6.9 million in the years ended December 31, 2016 , 2015 and 2014 , respectively, related to share-based compensation expense recorded for non-qualified employee stock options and restricted stock awards. The Company’s policy is to issue new shares to satisfy stock option exercises and to grant restricted stock awards. Share based Compensation Expense related to Former Executives In December 2016, the Company announced that G. Frederick Wilkinson and the Company mutually agreed that Mr. Wilkinson would separate from his positions as President and Chief Executive Officer of Impax and resign as a member of the Board of Directors of the Company, effective December 19, 2016. In connection with his separation from the Company, Mr. Wilkinson and the Company entered into a General Release and Waiver dated as of December 19, 2016 (the “General Release and Waiver”). The General Release and Waiver provided for 12 month accelerated vesting of certain of Mr. Wilkinson's stock options and shares of restricted stock in accordance with the terms therein. As a result, during the year ended December 31, 2016, the Company recorded $0.5 million of accelerated expense related to the accelerated vesting of certain of Mr. Wilkinson's outstanding stock options and restricted stock. The Company appointed Mr. Wilkinson as its President and Chief Executive Officer effective as of April 29, 2014. In accordance with Mr. Wilkinson’s appointment and pursuant to Mr. Wilkinson’s employment agreement with the Company, the Company granted to Mr. Wilkinson 150,000 shares of the Company’s restricted stock with a grant date fair value of $3.9 million , which vested as to one-third of the underlying shares on each of the six, 12 and 18 month anniversaries of April 29, 2014. Mr. Wilkinson also received pursuant to his employment agreement with the Company an award of 375,000 shares of restricted stock. The performance goals were achieved during fiscal year 2015 and pursuant to the terms of the employment agreement, 50% of Mr. Wilkinson’s performance-based restricted stock vested in 2015 and 50% vested in 2016. The Company valued these restricted stock awards subject to performance-based vesting using a Monte Carlo simulation and recognized the $7.6 million value of these awards over the longer of the derived or explicit service period, which was two years. On October 22, 2014, the Company announced that Carole S. Ben-Maimon, M.D., then President of the Company’s Impax Generics division, informed the Company of her decision to retire from her position effective November 3, 2014. Pursuant to her Separation Agreement, all option grants and restricted stock grants expected to vest in the 12 month period following her retirement date were accelerated and vested as of the retirement date. As a result, during the three month period ended December 31, 2014, the Company recorded $0.5 million of accelerated expense related to Dr. Ben-Maimon’s outstanding stock options and restricted stock.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
EMPLOYEE BENEFIT PLANS	EMPLOYEE BENEFIT PLANS 401(k) Defined Contribution Plan The Company sponsors a 401(k) defined contribution plan covering all employees. Participants are permitted to contribute up to 25% of their eligible annual pre-tax compensation up to established federal limits on aggregate participant contributions. Prior to January 1, 2015, the Company matched 50% of the employee contributions up to a maximum of 6% of employee compensation. Effective January 1, 2015, the Company updated its 401(k) policy to match 100% of the employee contributions up to a maximum of 5% of employee compensation. Discretionary profit-sharing contributions made by the Company, if any, are determined annually by the Board of Directors. Participants are 100% vested in discretionary profit-sharing and matching contributions made by the Company after three years of service, and are 25% and 50% vested after one and two years of service, respectively. There were $7.4 million , $3.7 million and $1.6 million in matching contributions and no discretionary profit-sharing contributions made under this plan for the years ended December 31, 2016 , 2015 and 2014 , respectively. Employee Stock Purchase Plan In February 2001, the Board of Directors approved the 2001 Non-Qualified Employee Stock Purchase Plan (“ESPP”), with a 500,000 share reservation. The purpose of the ESPP is to enhance employee interest in the success and progress of the Company by encouraging employee ownership of common stock of the Company. The ESPP provides the opportunity to purchase the Company’s common stock at a 15% discount to the market price through payroll deductions or lump sum cash investments. Under the ESPP plan, for the years ended December 31, 2016 , 2015 and 2014 , the Company sold shares of its common stock to its employees in the amount of 29,612 , 35,275 and 35,350 , respectively, for net proceeds of $0.7 million , $1.2 million and $0.8 million , respectively. Deferred Compensation Plan In February 2002, the Board of Directors approved the Executive Non-Qualified Deferred Compensation Plan (“ENQDCP”) effective August 15, 2002 covering executive level employees of the Company as designated by the Board of Directors. Participants can defer up to 75% of their base salary and quarterly sales bonus and up to 100% of their annual performance based bonus. The Company matches 50% of employee deferrals up to 10% of base salary and bonus compensation. The maximum total match by the Company cannot exceed 5% of total base and bonus compensation. Participants are vested in the employer match contribution at 20% each year, with 100% vesting after five years of employment. Participants can earn a return on their deferred compensation based on hypothetical investments in investment funds. Changes in the market value of the participant deferrals and earnings thereon are reflected as an adjustment to the liability for deferred compensation with an offset to compensation expense. There were $1.0 million , $1.1 million and $0.9 million in matching contributions under the ENQDCP for the years ended December 31, 2016 , 2015 and 2014 , respectively. The deferred compensation liability is a non-current liability recorded at the value of the amount owed to the ENQDCP participants, with changes in the value of such amounts recognized as compensation expense in the consolidated statements of operations. The calculation of the deferred compensation obligation is derived from observable market data by references to hypothetical investments selected by the participants and is included in the line item captioned “Other liabilities” on the consolidated balance sheets. The Company invests in corporate owned life insurance (“COLI”) policies, of which the cash surrender value is included in the line item captioned “Other assets” on the consolidated balance sheets. As of December 31, 2016 and 2015 , the Company had a cash surrender value asset of $37.4 million and $30.7 million , respectively, and a deferred compensation liability of $28.6 million and $25.6 million , respectively, which approximated fair value. The asset representing the cash surrender value of the corporate owned life insurance and the deferred compensation liability are both Level 2 fair value measurements.

RESTRUCTURINGS

RESTRUCTURINGS	12 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
RESTRUCTURINGS	RESTRUCTURINGS Middlesex, New Jersey Manufacturing and Packaging Operations In March 2016, the Company's Board of Directors approved a plan of restructuring designed to reduce costs, improve operating efficiencies and enhance the Company's long-term competitive position by closing the Company's Middlesex, New Jersey manufacturing and packaging site and transferring the products and the functions performed there to the Company's other facilities or to third-party manufacturers. This plan will take up to two years to complete. In August 2016, the Company's Board of Directors approved a plan to repurpose a part of the Middlesex manufacturing site as a research and development pilot plant in an effort to expand capacity for the number of generic projects in the Company's pipeline. As a result, approximately 28 employees that were previously expected to be terminated will be retained, reducing the number of positions expected to be eliminated to 187 . Management currently estimates that through mid-2018 the Company will incur aggregate pre-tax charges in connection with this plan of $43.9 million , of which approximately half were incurred in the fourth quarter of 2016 and the remainder by the second quarter of 2018. The following is a summary of the total estimated charges to be incurred by major type of cost (in millions): Type of Cost Amount Expected to be Incurred Employee retention and severance payments $ 13.4 Technical transfer of products 11.2 Asset impairment and accelerated depreciation charges 18.0 Facilities lease terminations and asset retirement obligations 1.0 Legal and professional fees 0.3 Total estimated restructuring charges $ 43.9 Employee retention and severance payments are being accrued over the estimated service period. For the year ended December 31, 2016 , the Company recorded $27.1 million of expense to cost of revenues on the consolidated statement of operations. A rollforward of the charges incurred for the year ended December 31, 2016 is as follows (in thousands): Balance as of Expensed/ Cash Non-Cash Balance as of December 31, 2015 Accrued Expense Payments Items December 31, 2016 Employee retention and severance payments $ — $ 6,636 $ (691 ) $ — $ 5,945 Technical transfer of products — 6,573 (6,573 ) — — Asset impairment and accelerated depreciation charges — 13,678 — (13,678 ) — Facilities lease terminations and asset retirement obligations — 209 — — 209 Legal and professional fees — 12 (12 ) — — Total $ — $ 27,108 $ (7,276 ) $ (13,678 ) $ 6,154 Hayward, California Technical Operations and R&D In November 2015, the Company's management assessed the headcount in the technical operations and research and development groups in Hayward, California, primarily as a result of the resolution of the warning letter at the Hayward facility, and determined that a reduction-in-force was necessary to adjust the headcount to the operating conditions of the post-warning letter resolution environment. The Company eliminated 27 positions and recorded an accrual for severance and related employee termination benefits of $2.5 million during the quarter ended December 31, 2015. As of December 31, 2016 , $2.3 million has been paid, and the Company currently expects the remainder of this balance to be paid by early 2017. Philadelphia, Pennsylvania Packaging and Distribution Operations On June 30, 2015, the Company committed to a plan of restructuring of its packaging and distribution operations and as a result of this plan, the Company closed its Philadelphia packaging site and all Company-wide distribution operations were outsourced to United Parcel Services during the fiscal year ended December 31, 2015. The Company eliminated 93 positions and recorded an accrual for severance and related employee termination benefits of $2.6 million during the quarter ended June 30, 2015. As of June 30, 2016, the full $2.6 million had been paid. Workforce Reduction On October 30, 2014, the Company committed to a reduction in the Company’s workforce, eliminating approximately 41 positions, including 35 positions in the Company’s research and development (“R&D”) organization. The reduction in workforce is part of the Company’s reorganization of its R&D organizations by consolidating the product development and analytical functions of the generic and brand R&D organizations. The workforce reduction resulted in charges of $2.1 million for severance and related termination costs, which were recorded during the quarter ended December 31, 2014. As of December 31, 2015, all accrued severance and related termination costs had been paid.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company is subject to federal, state and local income taxes in the United States, and income taxes in Taiwan, R.O.C., the Republic of Ireland and the Netherlands. The (benefit from) provision for income taxes is comprised of the following (in thousands): Years Ended December 31, 2016 2015 2014 Current: Federal taxes $ 21,386 $ 48,078 $ 42,635 State taxes 266 2,286 2,467 Foreign taxes 1,377 (442 ) 832 Total current tax expense 23,029 49,922 45,934 Deferred: Federal taxes $ (133,387 ) $ (23,605 ) $ (9,039 ) State taxes 5,502 (5,733 ) (3,597 ) Foreign taxes 562 (213 ) (92 ) Total deferred tax (benefit) expense (127,323 ) (29,551 ) (12,728 ) (Benefit from) provision for income taxes $ (104,294 ) $ 20,371 $ 33,206 A reconciliation of the difference between the tax provision at the federal statutory rate and actual income taxes on income before income taxes, which includes federal, state, and other income taxes, is as follows (in thousands): Years Ended December 31, 2016 2015 2014 (Loss) income before income taxes $ (576,325 ) $ 59,368 $ 90,559 Tax (benefit) provision at the federal statutory rate (201,714 ) 35.0 % 20,779 35.0 % 31,696 35.0 % Increase (decrease) in tax rate resulting from: Tax rate differential and permanent items on foreign income 186 — % 412 0.7 % 2,285 2.5 % State income taxes, net of federal benefit (7,394 ) 1.3 % 365 0.6 % 887 1.0 % State research and development credits (1,767 ) 0.3 % (2,357 ) (4.0 )% (2,133 ) (2.4 )% Federal research and development credits (2,213 ) 0.4 % (2,672 ) (4.5 )% (2,401 ) (2.6 )% Share-based compensation 1,768 (0.3 )% 968 1.6 % 189 0.2 % Executive compensation (761 ) 0.1 % 3,140 5.3 % 1,552 1.7 % Domestic manufacturing deduction (1,286 ) 0.2 % (1,422 ) (2.4 )% (679 ) (0.7 )% Other permanent book/tax differences (258 ) — % 2,003 3.4 % 170 0.2 % Provision for uncertain tax positions 337 — % 184 0.3 % 952 1.1 % Revision of prior years’ estimates (792 ) 0.1 % 859 1.5 % 664 0.7 % Taiwan Rural Area Investment Tax Credit — — % (2,134 ) (3.6 )% — — % Other, net 842 (0.1 )% 246 0.4 % 24 — % Valuation allowance 108,758 (18.9 )% — — % — — % (Benefit from) provision for income taxes $ (104,294 ) 18.1 % $ 20,371 34.3 % $ 33,206 36.7 % Deferred income taxes result from temporary differences between the financial statement carrying values and the tax bases of the Company’s assets and liabilities. Deferred tax assets principally result from certain accruals and reserves currently not deductible for tax purposes, acquired product rights and intangibles, capitalized legal and share based compensation expense. Deferred tax liabilities principally result from acquired product rights and intangibles and the use of accelerated depreciation methods for income tax purposes. A valuation allowance, if needed, reduces deferred tax assets to the amount expected to be realized. When determining the amount of net deferred tax assets that are more likely than not to be realized, the Company assesses all available positive and negative evidence. This evidence includes, but is not limited to, scheduled reversal of deferred tax liabilities, prior earnings history, projected future earnings, carry-back and carry-forward periods and the feasibility of ongoing tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset. The weight given to the positive and negative evidence is commensurate with the extent the evidence may be objectively verified. As such, it is generally difficult for positive evidence regarding projected future taxable income (exclusive of reversing taxable temporary differences and carryforwards) to outweigh objective negative evidence of a recent financial reporting loss for the year ended December 31, 2016. Based on an evaluation of both the positive and negative evidence available, the Company determined that it was necessary to establish a valuation allowance against a significant portion of the net deferred tax assets for the year ended December 31, 2016. Given the objectively verifiable negative evidence of a three-year cumulative loss which, under the provisions of FASB ASC Topic 740 is a significant element of negative evidence that is difficult to overcome, and the weighting of all available positive evidence, the Company excluded projected taxable income from the assessment of income that could be used as a source of taxable income to realize the deferred tax assets. The valuation allowance recorded against the consolidated net deferred tax asset in 2016 was $108.8 million . The components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2016 2015 Deferred tax assets: Accrued expenses $ 114,825 $ 83,414 Inventory reserves 15,873 9,585 Net operating loss carryforwards 2,302 38 Depreciation and amortization 651 362 Acquired product rights and intangibles 128,401 20,912 Capitalized legal fees 10,231 7,352 Credit carryforwards 8,453 6,149 Share based compensation expense 6,371 5,471 Other 525 389 Deferred tax assets $ 287,632 $ 133,672 Deferred tax liabilities: Tax depreciation and amortization in excess of book amounts $ 5,428 $ 7,367 Acquired product rights and intangibles 95,517 188,018 Deferred manufacturing costs 64 65 Derivative 6,192 8,894 Other 1,807 1,783 Deferred tax liabilities $ 109,008 $ 206,127 Deferred tax assets (liabilities), net $ 178,624 $ (72,455 ) Valuation allowance (108,758 ) — Deferred tax assets (liabilities), net after valuation allowance $ 69,866 $ (72,455 ) A rollforward of unrecognized tax benefits for the years ended December 31, 2016 , 2015 and 2014 is as follows (in thousands): Years Ended December 31, 2016 2015 2014 Unrecognized tax benefits beginning of year $ 5,680 $ 6,517 $ 5,292 Gross change for current year positions 549 1,079 1,089 Gross change for prior period positions 1,318 (673 ) 310 Gross change due to Tower Acquisition — 1,037 — Decrease due to settlements and payments (1,122 ) (2,280 ) (174 ) Unrecognized tax benefits end of year $ 6,425 $ 5,680 $ 6,517 The amount of unrecognized tax benefits at December 31, 2016 , 2015 and 2014 was $6.4 million , $5.7 million and $6.5 million respectively, of which $5.3 million , $4.3 million and $5.0 million would impact the Company’s effective tax rate, respectively, if recognized. The Company currently does not believe that the total amount of unrecognized tax benefits will increase or decrease significantly over the next 12 months. Interest expense related to income taxes is included in “Interest expense” on the consolidated statements of operations. Net interest expense related to unrecognized tax benefits for the year ended December 31, 2016 was $125,000 , compared to $8,000 in 2015 . Accrued interest expense as of December 31, 2016 and 2015 was $0.4 million and $0.6 million, respectively. Income tax penalties are included in “Other income (expense)” on the consolidated statements of operations. Accrued tax penalties of $0.6 million were booked in 2015 related to the 2010-2011 California audit and were paid in 2016. The Company is currently not under audit for its federal income tax. As of December 31, 2016, no provision has been made for U.S. federal deferred income taxes on the excess of the amount for financial reporting over the tax basis of investments in foreign subsidiaries since it is the current intention of management to indefinitely reinvest the undistributed earnings in the foreign subsidiary. Determination of the amount of any unrecognized deferred income tax liability on this temporary difference is not practicable because of the complexities of the hypothetical calculation.

ALLIANCE AND COLLABORATION AGRE

ALLIANCE AND COLLABORATION AGREEMENTS	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ALLIANCE AND COLLABORATION AGREEMENTS	ALLIANCE AND COLLABORATION AGREEMENTS The Company has entered into several alliance, collaboration, license and distribution agreements, and similar agreements with respect to certain of its products and services, with unrelated third-party pharmaceutical companies. The consolidated statements of operations include revenue recognized under agreements the Company has entered into to develop marketing and/or distribution relationships with its partners to fully leverage the technology platform and revenue recognized under development agreements which generally obligate the Company to provide research and development services over multiple periods. The Company’s alliance and collaboration agreements often include milestones and provide for milestone payments upon achievement of these milestones. Generally, the milestone events contained in the Company’s alliance and collaboration agreements coincide with the progression of the Company’s products and technologies from pre-commercialization to commercialization. The Company groups pre-commercialization milestones in its alliance and collaboration agreements into clinical and regulatory categories, each of which may include the following types of events: Clinical Milestone Events: • Designation of a development candidate . Following the designation of a development candidate, generally, IND-enabling animal studies for a new development candidate take 12 to 18 months to complete. • Initiation of a Phase I clinical trial . Generally, Phase I clinical trials take one to two years to complete. • Initiation or completion of a Phase II clinical trial . Generally, Phase II clinical trials take one to three years to complete. • Initiation or completion of a Phase III clinical trial . Generally, Phase III clinical trials take two to four years to complete. • Completion of a bioequivalence study . Generally, bioequivalence studies take three months to one year to complete. Regulatory Milestone Events: • Filing or acceptance of regulatory applications for marketing approval such as a New Drug Application in the United States or Marketing Authorization Application in Europe . Generally, it takes six to 12 months to prepare and submit regulatory filings and two months for a regulatory filing to be accepted for substantive review. • Marketing approval in a major market, such as the United States or Europe . Generally it takes one to three years after an application is submitted to obtain approval from the applicable regulatory agency. • Marketing approval in a major market, such as the United States or Europe for a new indication of an already-approved product . Generally it takes one to three years after an application for a new indication is submitted to obtain approval from the applicable regulatory agency. Commercialization Milestone Events: • First commercial sale in a particular market , such as in the United States or Europe . • Product sales in excess of a pre-specified threshold , such as annual sales exceeding $100 million . The amount of time to achieve this type of milestone depends on several factors including but not limited to the dollar amount of the threshold, the pricing of the product and the pace at which customers begin using the product. License and Distribution Agreement with Shire In January 2006, the Company entered into a License and Distribution Agreement with an affiliate of Shire Laboratories, Inc., which was subsequently amended (“Prior Shire Agreement”), under which the Company received a non-exclusive license to market and sell an authorized generic of Shire’s Adderall XR® product (“AG Product”) subject to certain conditions, but in any event by no later than January 1, 2010. The Company commenced sales of the AG Product in October 2009. On February 7, 2013, the Company entered into an Amended and Restated License and Distribution Agreement with Shire (the “Amended and Restated Shire Agreement”), which amended and restated the Prior Shire Agreement. The Amended and Restated Shire Agreement was entered into by the parties in connection with the settlement of the Company’s litigation with Shire relating to Shire’s supply of the AG Product to the Company under the Prior Shire Agreement. Under the Amended and Restated Shire Agreement, Shire was required to supply the AG Product and Company was responsible for marketing and selling the AG Product subject to the terms and conditions thereof until the earlier of (i) the first commercial sale of the Company’s generic equivalent product to Adderall XR® and (ii) September 30, 2014 (the “Supply Term”), subject to certain continuing obligations of the parties upon expiration or early termination of the Supply Term, including Shire’s obligation to deliver AG Products still owed to the Company as of the end of the Supply Term. The Company is required to pay a profit share to Shire on sales of the AG Product, of which the Company owed a profit share payable to Shire of $7.5 million , $19.5 million and $21.1 million on sales of the AG Product during the years ended December 31, 2016 , 2015 and 2014 , respectively, with a corresponding charge included in the cost of revenues line in the consolidated statements of operations. Although the Supply Term expired on September 30, 2014, the Company was permitted to sell any AG Products in its inventory or owed to the Company by Shire under the Amended and Restated Shire Agreement until all such products are sold. The Company sold all remaining AG Products in its inventory during the year ended December 31, 2016. The Company continued to pay a profit share to Shire on sales of such products during the year ended December 31, 2016 . Development, Supply and Distribution Agreement with Tolmar, Inc. In June 2012, the Company entered into the Tolmar Agreement with Tolmar. Under the terms of the Tolmar Agreement, Tolmar granted to the Company an exclusive license to commercialize up to 11 generic topical prescription drug products, including ten currently approved products in the United States and its territories; the parties agreed in 2015 to terminate development efforts of one product under the Tolmar Agreement that had been pending approval at the FDA. Under the terms of the Tolmar Agreement, Tolmar is responsible for developing and manufacturing the products, and the Company is responsible for marketing and sale of the products. As of December 31, 2016 , the Company was currently marketing and selling four approved products. The Company is required to pay a profit share to Tolmar on sales of each product commercialized pursuant to the terms of the Tolmar Agreement. The Company paid Tolmar a $21.0 million upfront payment upon signing of the agreement and, pursuant to the terms of the agreement, is also required to make payments to Tolmar up to an aggregate amount of $25.0 million upon the achievement of certain specified milestone events. The contingent milestone payments are initially recognized in the period the triggering event occurs. Milestone payments which are contingent upon commercialization events are accounted for as an additional cost of acquiring the product license rights. Milestone payments which are contingent upon regulatory approval events are capitalized and amortized over the remaining estimated useful life of the approved product. As of December 31, 2016, the Company had paid a total of $20.0 million to Tolmar upon the achievement of certain specified milestone events, including $12.0 million upon the achievement of a regulatory milestone event and $5.0 million upon the achievement of a commercialization event, and does not currently expect to make any additional milestone payments under the agreement. The $21.0 million upfront payment for the Tolmar product rights has been allocated to the underlying topical products based upon the relative fair value of each product and will be amortized over the remaining estimated useful life of each underlying product, ranging from five to 12 years, starting upon commencement of commercialization activities by the Company during the second half of 2012. The amortization of the Tolmar product rights has been included as a component of cost of revenues on the consolidated statements of operations. The Company is also required to pay a profit share to Tolmar on sales of the topical products, of which the Company owed a profit share payable to Tolmar of $36.4 million , $77.7 million and $16.0 million during the years ended December 31, 2016 , 2015 and 2014 , respectively, with a corresponding charge included in the cost of revenues line in the Company’s consolidated statement of operations. The Company entered into a Loan and Security Agreement with Tolmar in March 2012 (the “Tolmar Loan Agreement”), under which the Company agreed to lend to Tolmar one or more loans through December 31, 2014, in an aggregate amount not to exceed $15.0 million . The outstanding principal amount of, including any accrued and unpaid interest on, the loans under the Tolmar Loan Agreement are payable by Tolmar beginning from March 31, 2017 through March 31, 2020 or the maturity date, in accordance with the terms therein. Pursuant to the Tolmar Loan Agreement, Tolmar could prepay all or any portion of the outstanding balance of the loans prior to the maturity date without penalty or premium. In May 2016, Tolmar repaid in full the $15.0 million due to the Company under the Tolmar Loan Agreement. Strategic Alliance Agreement with Teva The Company is a party to a Strategic Alliance Agreement dated as of June 27, 2001 with Teva Pharmaceuticals USA, Inc. ("Teva USA"), an affiliate of Teva, which was subsequently amended (“Teva Agreement”). The Teva Agreement commits the Company to develop and manufacture, and Teva to distribute, a specified number of controlled release generic pharmaceutical products (“generic products”), each for a 10 -year period. The Company is required to develop the products, obtain FDA approval to market the products, and manufacture the products for Teva. The revenue the Company earns from the sale of product under the Teva Agreement consists of Teva’s reimbursement of the Company’s manufacturing costs plus a profit share on Teva’s sales of the product to its customers. The Company invoices Teva for the manufacturing costs or products it ships to Teva and payment is due within 30 days. Teva has the right to determine all terms and conditions of the product sales to its customers. Within 30 days of the end of each calendar quarter, Teva is required to provide the Company with a report of its net sales and profits during the quarter and to pay the Company its share of the profits resulting from those sales. Net sales are Teva’s gross sales less discounts, rebates, chargebacks, returns, and other adjustments, all of which are based upon fixed percentages, except chargebacks, which are estimated by Teva and subject to a true-up reconciliation. As of December 31, 2016 , the Company was supplying Teva with oxybutynin extended release tablets (Ditropan XL® 5 mg, 10 mg and 15 mg extended release tablets); the other products under the Teva Agreement have either been returned to the Company, are being manufactured by Teva at its election, were voluntarily withdrawn from the market or the Company’s obligations to supply such product had expired or were terminated in accordance with the Teva Agreement. Further, in connection with the Teva Transaction and as described in “Note 2. Business Acquisitions”, the Company and Teva terminated each party’s rights and obligations under the Teva Agreement effective on August 3, 2016 with respect to the methylphenidate hydrochloride product (generic Concerta ® ). OTC Partner Alliance Agreement In June 2002, the Company entered into a Development, License and Supply Agreement with Pfizer, Inc., formerly Wyeth LLC (“Pfizer”), for a term of 15 years, relating to the Company’s Loratadine and Pseudoephedrine Sulfate 5 mg/120 mg 12-hour Extended Release Tablets (the "D12 Product") and Loratadine and Pseudoephedrine Sulfate 10 mg/240 mg 24-hour Extended Release Tablets for the OTC market (the "D24 Product"); the agreement was terminated with respect to the D24 Product in 2005. The Company previously developed the products and is currently only responsible for manufacturing the products. Pfizer is responsible for marketing and sale of the products. The agreement included payments to the Company upon achievement of development milestones, as well as royalties paid to the Company by Pfizer on its sales of the product. Pfizer launched this product in May 2003 as Alavert® D-12 Hour. In December 2011, the Company and Pfizer entered into an agreement with L. Perrigo Company (“Perrigo”), which was subsequently amended whereby the parties agreed that the Company would supply the Company’s D-12 Product to Perrigo in the United States and its territories. The agreements with Pfizer and Perrigo are no longer a core area of the Company’s business, and the over-the-counter pharmaceutical products the Company sells to Pfizer and Perrigo under the agreements are older products which are only sold to Pfizer and Perrigo. The Company recognizes profit share revenue in the period earned. During the quarter ended September 30, 2016, the Company sold the ANDAs for both the D12 Product and the D24 Product, in addition to other specified assets, to Perrigo pursuant to an asset purchase agreement with Perrigo dated as of March 31, 2016 (the "Perrigo APA"). Under the terms of the Perrigo APA, the Company will also continue to supply the D-12 Product to Pfizer and Perrigo until the date that is the earliest of (i) the date Perrigo’s manufacturing facility is approved to manufacture the D-12 Product and (ii) December 31, 2017 (the "Supply End Date"). On the Supply End Date, the Company will assign and transfer its supply agreement with Pfizer in its entirety to Perrigo in accordance with the Perrigo APA. Agreements with Valeant Pharmaceuticals International, Inc. In November 2008, the Company and Valeant Pharmaceuticals International, Inc., formerly Medicis Pharmaceutical Corporation (“Valeant”), entered into a Joint Development Agreement and a License and Settlement Agreement (“Joint Development Agreement”). The Joint Development Agreement provides for the Company and Valeant to collaborate in the development of a total of five dermatology products, including four of the Company’s generic products and one branded advanced form of Valeant’s Solodyn® product. Under the provisions of the Joint Development Agreement the Company has the potential to receive up to an additional $8.0 million of contingent milestone payments each of which the Company believes to be substantive, as well as the potential to receive royalty payments from sales, if any, by Valeant of its advanced form Solodyn® brand product. Finally, to the extent the Company commercializes any of its four generic dermatology products covered by the Joint Development Agreement, the Company will pay to Valeant a gross profit share on sales of such products. The Company began selling one of the four generic dermatology products during the year ended December 31, 2011 and began selling a second dermatology product during the quarter ended September 30, 2016. The Joint Development Agreement results in three items of revenue for the Company, as follows: (1) Research & Development Services. Revenue from the remaining $8.0 million of contingent milestone payments, will be recognized using the Milestone Method of accounting. Revenue recognized under the Joint Development Agreement is included in “Note 24. Supplementary Financial Information,” in the line item captioned “Other Revenues.” (2) Royalty Fees Earned — Valeant’s Sale of Advanced Form Solodyn® (Brand) Product. Under the Joint Development Agreement, the Company granted Valeant a license for the advanced form of the Solodyn® product, with the Company receiving royalty fee income under such license for a period ending eight years after the first commercial sale of the advanced form Solodyn® product. Commercial sales of the new Solodyn® product, if any, are expected to commence upon FDA approval of Valeant’s NDA. The royalty fee income, if any, from the new Solodyn® product, will be recognized by the Company as current period revenue when earned. (3) Accounting for Sales of the Company’s Four Generic Dermatology Products. Upon FDA approval of the Company’s ANDA for each of the four generic products covered by the Joint Development Agreement, the Company will have the right (but not the obligation) to begin manufacture and sale of its four generic dermatology products. The Company sells its manufactured generic products to all Impax Generics division customers in the ordinary course of business through its Impax Generics Product sales channel. The Company accounts for the sale, if any, of the generic products covered by the Joint Development Agreement as current period revenue according to the Company’s revenue recognition policy applicable to its Impax Generics products. To the extent the Company sells any of the four generic dermatology products covered by the Joint Development Agreement, the Company pays Valeant a gross profit share, with such profit share payments accounted for as a current period cost of revenues in the consolidated statement of operations . Distribution, License, Development and Supply Agreement with AstraZeneca UK Limited In January 2012, the Company entered into the AZ Agreement with AstraZeneca and the parties subsequently entered into a First Amendment to the AZ Agreement dated May 31, 2016 (as amended, the "AZ Amendment"). Under the terms of the AZ Agreement, AstraZeneca granted to the Company an exclusive license to commercialize the tablet, orally disintegrating tablet and nasal spray formulations of Zomig® (zolmitriptan) products for the treatment of migraine headaches in the United States and in certain U.S. territories, except during an initial transition period when AstraZeneca fulfilled all orders of Zomig® products on the Company’s behalf and AstraZeneca paid to the Company the gross profit on such Zomig® products. The Company is obligated to fulfill certain minimum requirements with respect to the promotion of currently approved Zomig® products as well as other dosage strengths of such products approved by the FDA in the future. The Company may, but has no obligation to, develop and commercialize additional products containing zolmitriptan and additional indications for Zomig®, subject to certain restrictions as set forth in the AZ Agreement. Subject to the terms of the AZ Agreement, the Company will be responsible for conducting clinical studies and preparing regulatory filings related to the development of any such additional products and would bear all related costs. During the term of the AZ Agreement, AstraZeneca will continue to be the holder of the NDA for existing Zomig® products, as well as any future dosage strengths thereof approved by the FDA, and will be responsible for certain regulatory and quality-related activities for such Zomig® products. AstraZeneca will manufacture and supply Zomig® products to the Company and the Company will purchase its requirements of Zomig® products from AstraZeneca until a date determined in the AZ Agreement. Thereafter, AstraZeneca may terminate its supply obligations upon certain advance notice to the Company, in which case the Company would have the right to manufacture or have manufactured its own requirements for the applicable Zomig® product. Under the terms of the AZ Amendment, under certain conditions and depending on the nature and terms of the study agreed to with the FDA, the Company agreed to conduct, at its own expense, the juvenile toxicity study and pediatric study required by the FDA under the Pediatric Research Equity Act (“PREA”) for approval of the nasal formulation of Zomig ® for the acute treatment of migraine in pediatric patients ages six through eleven years old, as further described in the study protocol mutually agreed to by the parties (the “PREA Study”). In consideration for the Company conducting the PREA Study at its own expense, the AZ Amendment provides for the total royalty payments payable by the Company to AstraZeneca on net sales of Zomig ® products under the AZ Agreement to be reduced by certain specified amounts beginning from the quarter ended June 30, 2016 and through the quarter ended December 31, 2020, with such reduced royalty amounts totaling an aggregate amount of $30.0 million . In the event the royalty reduction amounts exceed the royalty payments payable by the Company to AstraZeneca pursuant to the AZ Agreement in any given quarter, AstraZeneca will be required to pay the Company an amount equal to the difference between the royalty reduction amount and the royalty payment payable by the Company to AstraZeneca. The Company’s commitment to perform the PREA Study may be terminated, without penalty, under certain circumstances as set forth in the AZ Amendment. Under the terms of the AZ Agreement, AstraZeneca was required to make payments to the Company representing 100% of the gross profit on sales of AstraZeneca-labeled Zomig® products during the specified transition period. Beginning from January 2013, the Company has paid AstraZeneca tiered royalties on net sales of branded Zomig® products, depending on brand exclusivity and subject to customary reductions and other terms and conditions set forth in the AZ Agreement. The Company has also paid to AstraZeneca royalties based on gross profit from sales of authorized generic versions of the Zomig® products subject to certain terms and conditions set forth in the AZ Agreement. In May 2013, the Company’s exclusivity period for branded Zomig® tablets and orally disintegrating tablets expired and the Company launched authorized generic versions of those products in the United States. As discussed above, pursuant to the AZ Amendment, the total royalty payments payable by the Company to AstraZeneca on net sales of Zomig ® products under the AZ Agreement is reduced by certain specified amounts beginning from the quarter ended June 30, 2016 and through the quarter ended December 31, 2020, with such reduced royalty amounts totaling an aggregate amount of $30.0 million . The Company owed a royalty payable to AstraZeneca of $17.2 million , $16.8 million and $14.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, with a corresponding charge included in the cost of revenues line on the consolidated statements of operations. Agreement with DURECT Corporation During the three month period ended March 31, 2014, the Company entered into an agreement with DURECT Corporation (“Durect”) granting the Company the exclusive worldwide rights to develop and commercialize DURECT’s investigational transdermal bupivacaine patch for the treatment of pain associated with post-herpetic neuralgia, referred to by the Company as IPX239. The Company paid Durect a $2.0 million up-front payment upon signing of the agreement which the Company recognized immediately as research and development expense. The Company has the potential to pay up to an aggregate of $61.0 million in additional contingent milestone payments upon the achievement of certain specified development and commercialization events under the agreement. If IPX239 is commercialized, the Company would also be required to pay a tiered royalty based on product sales. Mebendazole Product Acquisition Agreement with Teva Pharmaceuticals USA, Inc. In August 2013, the Company, through its Amedra Pharmaceuticals subsidiary, entered into a product acquisition agreement (the “Mebendazole Product Acquisition Agreement”) with Teva pursuant to which the Company acquired the assets (including the ANDA and other regulatory materials) and related liabilities related to Teva’s mebendazole tablet product in all dosage forms. Pursuant to the Mebendazole Product Acquisition Agreement, the Company was required to pay certain milestone payments up to an aggregate amount of $3.5 million upon the approval and launch of the mebendazole tablet product; the Company paid the $3.5 million to Teva during the quarter ended March 31, 2016 upon the FDA's approval and the Company's subsequent launch of Emverm® (mebendazole) 100 mg chewable tablets. The Company is also obligated to pay Teva a royalty payment based on net sales of Emverm®, including a specified annual minimum royalty payment, subject to customary reductions and the other terms and conditions set forth in the Teva Product Acquisition Agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Executive Employment Agreements The Company is a party to employment and separation agreements with certain members of its executive management team that provide for severance and other payments following termination of their employment for various reasons. Lease Agreements The Company leases land, office space, manufacturing, warehouse and research and development facilities, and equipment under non-cancelable operating leases expiring between January 2017 and December 2027. Rent expense for the years ended December 31, 2016 , 2015 and 2014 was $4.9 million , $4.1 million and $2.2 million , respectively. The Company recognizes rent expense on a straight-line basis over the lease period. The Company also leases certain equipment under various non-cancelable operating leases with various expiration dates between April 2017 and October 2021. Future minimum lease payments under the non-cancelable operating leases are as follows (in thousands): Years ending December 31, 2017 $ 5,439 2018 5,470 2019 3,682 2020 2,270 2021 2,056 Thereafter 11,274 Total minimum lease payments $ 30,191 Purchase Order Commitments As of December 31, 2016 , the Company had $129.1 million of open purchase order commitments, primarily for raw materials. The terms of these purchase order commitments are generally less than one year in duration.

LEGAL AND REGULATORY MATTERS

LEGAL AND REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
LEGAL AND REGULATORY MATTERS	LEGAL AND REGULATORY MATTERS Patent Litigation There is substantial litigation in the pharmaceutical, biological, and biotechnology industries with respect to the manufacture, use, and sale of new products which are the subject of conflicting patent and intellectual property claims. One or more patents often cover the brand name products for which the Company is developing generic versions and the Company typically has patent rights covering the Company’s branded products. Under federal law, when a drug developer files an ANDA for a generic drug seeking approval before expiration of a patent, which has been listed with the FDA as covering the brand name product, the developer must certify its product will not infringe the listed patent(s) and/or the listed patent is invalid or unenforceable (commonly referred to as a “Paragraph IV” certification). Notices of such certification must be provided to the patent holder, who may file a suit for patent infringement within 45 days of the patent holder’s receipt of such notice. If the patent holder files suit within the 45 day period, the FDA can review and approve the ANDA, but is prevented from granting final marketing approval of the product until a final judgment in the action has been rendered in favor of the generic drug developer, or 30 months from the date the notice was received, whichever is sooner. The Company’s generic products division is typically subject to patent infringement litigation brought by branded pharmaceutical manufacturers in connection with the Company’s Paragraph IV certifications seeking an order delaying the approval of the Company’s ANDA until expiration of the patent(s) at issue in the litigation. Likewise, the Company’s branded products division is currently involved in patent infringement litigation against generic drug manufacturers who have filed Paragraph IV certifications to market their generic drugs prior to expiration of the Company’s patents at issue in the litigation. The uncertainties inherent in patent litigation make the outcome of such litigation difficult to predict. For the Company’s generic products division, the potential consequences in the event of an unfavorable outcome in such litigation include delaying launch of its generic products until patent expiration. If the Company were to launch its generic product prior to successful resolution of a patent litigation, the Company could be liable for potential damages measured by the profits lost by the branded product manufacturer rather than the profits earned by the Company if we are found to infringe a valid, enforceable patent. For the Company’s branded products division, an unfavorable outcome may significantly accelerate generic competition ahead of expiration of the patents covering the Company’s branded products. All such litigation typically involves significant expense. The Company is generally responsible for all of the patent litigation fees and costs associated with current and future products not covered by its alliance and collaboration agreements. The Company has agreed to share legal expenses with respect to third-party and Company products under the terms of certain of the alliance and collaboration agreements. The Company records the costs of patent litigation as expense in the period when incurred for products it has developed, as well as for products which are the subject of an alliance or collaboration agreement with a third-party. Although the outcome and costs of the asserted and unasserted claims is difficult to predict, based on the information presently known to management, the Company does not currently expect the ultimate liability, if any, for such matters to have a material adverse effect on its business, financial condition, results of operations, or cash flows. Patent Infringement Litigation Endo Pharmaceuticals Inc. and Grunenthal GmbH v. Impax Laboratories, Inc. and ThoRx Laboratories, Inc. (Oxymorphone hydrochloride); Endo Pharmaceuticals Inc. and Grunenthal GmbH v. Impax Laboratories, Inc. (Oxymorphone hydrochloride) In November 2012, Endo Pharmaceuticals, Inc. and Grunenthal GmbH (collectively, “Endo”) filed suit against ThoRx Laboratories, Inc., a wholly owned subsidiary of the Company (“ThoRx”), and the Company in the U.S. District Court for the Southern District of New York alleging patent infringement based on the filing of ThoRx’s ANDA relating to Oxymorphone hydrochloride, Extended Release tablets, 5 mg, 7.5 mg, 10 mg, 15 mg, 20 mg, 30 mg and 40 mg, generic to Opana ER®. In January 2013, Endo filed a separate suit against the Company in the U.S. District Court for the Southern District of New York alleging patent infringement based on the filing of the Company’s ANDA relating to the same products. ThoRx and the Company filed an answer and counterclaims to the November 2012 suit and the Company filed an answer and counterclaims with respect to the January 2013 suit. A bench trial was completed in April 2015. In June 2016, the Court entered an amended judgment in both cases that the products described in the Company’s and ThoRx’s ANDAs would, if marketed, infringe certain claims of the patents asserted by Endo and Grunenthal. The Court also found that the asserted claims of patents owned by Endo were not invalid, but that the asserted claims of patents owned by Grunenthal were invalid. As a result, the Court enjoined the Company and ThoRx from marketing their products until expiration of the Endo patents in 2023. The Company and ThoRx are appealing the Court's judgment. In November 2014, Endo Pharmaceuticals Inc. and Mallinckrodt LLC filed suit against the Company in the U.S. District Court for the District of Delaware making additional allegations of patent infringement based on the filing of the Company’s Oxymorphone hydrochloride ANDA described above. Also in November 2014, Endo and Mallinckrodt filed a separate suit in the U.S. District Court for the District of Delaware making additional allegations of patent infringement based on the filing of ThoRx’s Oxymorphone hydrochloride ANDA described above. ThoRx and the Company filed an answer and counterclaim to those suits in which they are named as a defendant. The cases are currently stayed. In May 2016, Endo Pharmaceuticals Inc. filed suit against the Company in the U.S. District Court for the District of New Jersey, alleging that the Company’s marketed oxymorphone hydrochloride tablets infringe certain patents owned by Endo. Endo’s complaint also alleges that the Company and Endo entered into a settlement and license agreement with respect to these products, but that the Company later breached that contract and breached its implied duty of good faith and fair dealing with respect to that agreement. Endo filed an amended complaint on August 1, 2016 and the Company filed a motion to dismiss the complaint. On October 25, 2016, that motion was granted in part and denied in part. On October 31, 2016, the Company received a letter from Endo purporting to terminate the settlement and license agreement for material breach. Discovery is underway. No trial date has been set. Impax Laboratories Inc., et al. v. Lannett Holdings, Inc. and Lannett Company (Zomig®) In July 2014, the Company filed suit against Lannett Holdings, Inc. and Lannett Company (collectively, “Lannett”) in the United States District Court for the District of Delaware, alleging patent infringement based on the filing of the Lannett ANDA relating to Zolmitriptan Nasal Spray, 5mg, generic to Zomig® Nasal Spray. Lannett filed an answer and counterclaims alleging non-infringement and invalidity in September 2014, and the Company filed an answer to the counterclaims in October 2014. Trial occurred in early September 2016. Post-trial briefing has been completed. Lannett has indicated that they will not sell their generic product to the Zomig® Nasal Spray before March 31, 2017, and the Court has indicated that it will render its decision on or before that date. Impax Laboratories Inc., et al. v. Par Pharmaceutical, Inc. (Zomig®) On September 23, 2016, the Company filed suit against Par Pharmaceutical, Inc. (“Par”) in the United States District Court for the District of Delaware, alleging patent infringement based on the filing of the Par ANDA relating to Zolmitriptan Nasal Spray, 2.5 mg and 5 mg, generic to Zomig® Nasal Spray. On October 12, 2016, the parties stipulated to stay the case pending the outcome of the related case, Impax Laboratories Inc., et al. v. Lannett matter described above. As such, Par has not yet filed an answer or counterclaims to the Company’s complaint. The 30-month stay of approval for applicable to the Par ANDA has been tolled pending resumption of this case. Impax Laboratories Inc., et al. v. Actavis Laboratories, Inc. and Actavis Pharma Inc. (Rytary ® ) In September 2015, the Company filed suit against Actavis Laboratories, Inc. and Actavis Pharma Inc. (collectively, “Actavis”) in the United States District Court for the District of New Jersey, alleging patent infringement based on the filing of the Actavis ANDA relating to carbidopa and levodopa extended release capsules, generic to Rytary ® . In December 2016, the Company filed a related action alleging infringement of related, later-issued U.S. Patent No. 9,463,246, which was consolidated with the lead action. Actavis filed an answer and counterclaims on November 19, 2015 in the lead action and on January 13, 2017 in the related action. Fact discovery is proceeding and claim construction briefing has concluded. Trial is expected in the fall of 2017. Sanofi-Aventis U.S. LLC, et al. v. Impax Laboratories, Inc. On January 3, 2017, Sanofi-Aventis U.S. LLC, Aventisub LLC, Sanofi, and Genzyme Corporation filed suit against the Company in the United States District Court for the District of Delaware alleging patent infringement based on the filing of the Company’s ANDA related to Teriflunomide Oral Tablets, 14 mg, generic to Aubagio ® . The Company’s answer currently is due on March 27, 2017; no further schedule has been set. Other Litigation Related to the Company’s Business Solodyn ® Antitrust Class Actions From July 2013 to January 2016, 18 complaints were filed as class actions on behalf of direct and indirect purchasers, as well as by certain direct purchasers, against manufacturers of the brand drug Solodyn® and its generic equivalents, including the Company. On July 22, 2013, Plaintiff United Food and Commercial Workers Local 1776 & Participating Employers Health and Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On July 23, 2013, Plaintiff Rochester Drug Co-Operative, Inc., a direct purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On August 1, 2013, Plaintiff International Union of Operating Engineers Local 132 Health and Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Northern District of California on behalf of itself and others similarly situated. On August 29, 2013, this Plaintiff withdrew its complaint from the United States District Court for the Northern District of California, and on August 30, 2013, re-filed the same complaint in the United States Court for the Eastern District of Pennsylvania, on behalf of itself and others similarly situated. On August 9, 2013, Plaintiff Local 274 Health & Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On August 12, 2013, Plaintiff Sheet Metal Workers Local No. 25 Health & Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On August 27, 2013, Plaintiff Fraternal Order of Police, Fort Lauderdale Lodge 31, Insurance Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On August 29, 2013, Plaintiff Heather Morgan, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On August 30, 2013, Plaintiff Plumbers & Pipefitters Local 178 Health & Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On September 9, 2013, Plaintiff Ahold USA, Inc., a direct purchaser, filed a class action complaint in the United States District Court for the District of Massachusetts on behalf of itself and others similarly situated. On September 24, 2013, Plaintiff City of Providence, Rhode Island, an indirect purchaser, filed a class action complaint in the United States District Court for the District of Arizona on behalf of itself and others similarly situated. On October 2, 2013, Plaintiff International Union of Operating Engineers Stationary Engineers Local 39 Health & Welfare Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the District of Massachusetts on behalf of itself and others similarly situated. On October 7, 2013, Painters District Council No. 30 Health and Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the District of Massachusetts on behalf of itself and others similarly situated. On October 25, 2013, Plaintiff Man-U Service Contract Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On March 13, 2014, Plaintiff Allied Services Division Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the District of Massachusetts on behalf of itself and others similarly situated. On March 19, 2014, Plaintiff NECA-IBEW Welfare Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the District of Massachusetts on behalf of itself and others similarly situated. On February 25, 2014, the United States Judicial Panel on Multidistrict Litigation ordered the pending actions transferred to the District of Massachusetts for coordinated pretrial proceedings, as In Re Solodyn (Minocycline Hydrochloride) Antitrust Litigation. On March 26, 2015, Walgreen Co., The Kruger Co., Safeway Inc., HEB Grocery Company L.P., Albertson’s LLC, direct purchasers, filed a separate complaint in the United States District Court for the Middle District of Pennsylvania. On April 8, 2015, the Judicial Panel on Multi-District Litigation ordered the action be transferred to the District of Massachusetts, to be coordinated or consolidated with the coordinated proceedings. The original complaint filed by the plaintiffs asserted claims only against defendant Medicis. On October 5, 2015, the plaintiffs filed an amended complaint asserting claims against the Company and the other generic defendants. On April 16, 2015, Rite Aid Corporation and Rite Aid Hdqtrs. Corp, direct purchasers, filed a separate complaint in the United States District Court for the Middle District of Pennsylvania. On May 1, 2015, the Judicial Panel on Multi-District Litigation ordered the action be transferred to the District of Massachusetts, to be coordinated or consolidated with the coordinated proceedings. The original complaint filed by the plaintiffs asserted claims only against defendant Medicis. On October 5, 2015, the plaintiffs filed an amended complaint asserting claims against the Company and the other generic defendants. On January 25, 2016, CVS Pharmacy, Inc., a direct purchaser, filed a separate complaint in the United States District Court for the Middle District of Pennsylvania. On February 11, 2016, the Judicial Panel on Multi-District Litigation ordered the action to be transferred to the District of Massachusetts to be coordinated or consolidated with the coordinated proceedings. The consolidated amended complaints allege that Medicis engaged in anticompetitive schemes by, among other things, filing frivolous patent litigation lawsuits, submitting frivolous Citizen Petitions, and entering into anticompetitive settlement agreements with several generic manufacturers, including the Company, to delay generic competition of Solodyn® and in violation of state and federal antitrust laws. Plaintiffs seek, among other things, unspecified monetary damages and equitable relief, including disgorgement and restitution. On August 14, 2015, the Court granted in part and denied in part defendants’ motion to dismiss the consolidated amended complaints. Discovery is ongoing. Trial is set for March 22, 2018. Opana ER® FTC Antitrust Suit On February 25, 2014, the Company received a Civil Investigative Demand ("CID") from the FTC concerning its investigation into the drug Opana® ER and its generic equivalents. On March 30, 2016, the FTC filed a complaint against the Company, Endo, and others in the United States District Court for the Eastern District of Pennsylvania, alleging that the Company and Endo violated antitrust laws when they entered into a June 2010 co-promotion and development agreement and a June 2010 settlement agreement that resolved patent litigation in connection with the submission of the Company’s ANDA for generic original Opana® ER. In July 2016, the defendants filed a motion to dismiss the complaint, and a motion to sever the claims regarding Opana® ER from claims with respect to a separate settlement agreement that was challenged by the FTC. On October 20, 2016, the Court granted the motion to sever, formally terminating the suit against the Company, with an order that the FTC re-file no later than November 3, 2016 and dismissed the motion to dismiss as moot. On October 25, 2016, the FTC filed a notice of voluntary dismissal. On October 26, 2016, the Company and Endo filed a Declaratory Judgment complaint against the FTC in the Eastern District of Pennsylvania seeking resolution of the legal issues that were previously subject to the companies’ motion to dismiss. On December 30, 2016, the FTC filed a motion to dismiss the Declaratory Judgment complaint. The motion to dismiss has been fully briefed. On January 19, 2017, the FTC filed a Part 3 Administrative complaint against the Company with similar allegations regarding the Company’s June 2010 settlement agreement with Endo that resolved patent litigation in connection with the submission of the Company’s ANDA for generic original Opana® ER. The Company filed its answer to the Administrative Complaint on February 7, 2017 and trial is expected in September 2017. Opana ER® Antitrust Class Actions From June 2014 to April 2015, 14 complaints were filed as class actions on behalf of direct and end-payor (indirect) purchasers, as well as by certain direct purchasers, against the manufacturer of the brand drug Opana ER® and the Company. On June 4, 2014, Plaintiff Fraternal Order of Police, Miami Lodge 20, Insurance Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 4, 2014, Plaintiff Rochester Drug Co-Operative, Inc., a direct purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 6, 2014, Plaintiff Value Drug Company, a direct purchaser, filed a class action complaint in the United States District Court for the Northern District of California on behalf of itself and others similarly situated. On June 26, 2014, this Plaintiff withdrew its complaint from the United States District Court for the Northern District of California, and on July 16, 2014, re-filed the same complaint in the United States District Court for the Northern District of Illinois, on behalf of itself and others similarly situated. On June 19, 2014, Plaintiff Wisconsin Masons’ Health Care Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Northern District of Illinois on behalf of itself and others similarly situated. On July 17, 2014, Plaintiff Massachusetts Bricklayers, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On August 11, 2014, Plaintiff Pennsylvania Employees Benefit Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Northern District of Illinois on behalf of itself and others similarly situated. On September 19, 2014, Plaintiff Meijer Inc., a direct purchaser, filed a class action complaint in the United States District Court for the Northern District of Illinois on behalf of itself and others similarly situated. On October 3, 2014, Plaintiff International Union of Operating Engineers, Local 138 Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Northern District of Illinois on behalf of itself and others similarly situated. On November 17, 2014, Louisiana Health Service & Indemnity Company d/b/a Blue Cross and Blue Shield of Louisiana, an indirect purchaser, filed a class action complaint in the United States District Court for the Middle District of Louisiana on behalf of itself and others similarly situated. On December 19, 2014, Plaintiff Kim Mahaffay, an indirect purchaser, filed a class action complaint in the Superior Court of the State of California, Alameda County, on behalf of herself and others similarly situated. On January 27, 2015, the Defendants removed the action to the United States District Court for the Northern District of California. On January 12, 2015, Plaintiff Plumbers & Pipefitters Local 178 Health & Welfare Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Northern District of Illinois on behalf of itself and others similarly situated. On December 12, 2014, the United States Judicial Panel on Multidistrict Litigation ordered the pending actions transferred to the Northern District of Illinois for coordinated pretrial proceedings, as In Re Opana ER Antitrust Litigation. On March 26, 2015 Walgreen Co., The Kruger Co., Safeway Inc., HEB Grocery Company L.P., Albertson’s LLC, direct purchasers, filed a separate complaint in the United States District Court for the Northern District of Illinois. On April 23, 2015, Rite Aid Corporation and Rite Aid Hdqtrs. Corp, direct purchasers, filed a separate complaint in the United States District Court for the Northern District of Illinois. In each case, the complaints allege that Endo engaged in an anticompetitive scheme by, among other things, entering into an anticompetitive settlement agreement with the Company to delay generic competition of Opana ER® and in violation of state and federal antitrust laws. Plaintiffs seek, among other things, unspecified monetary damages and equitable relief, including disgorgement and restitution. Consolidated amended complaints were filed on May 4, 2015 by direct purchaser plaintiffs and end-payor (indirect) purchaser plaintiffs. On July 3, 2015, defendants filed motions to dismiss the consolidated amended complaints, as well as the complaints of the “Opt-Out Plaintiffs” (Walgreen Co., The Kruger Co., Safeway Inc., HEB Grocery Company L.P., Albertson’s LLC, Rite Aid Corporation and Rite Aid Hdqtrs. Corp.). On February 1, 2016, CVS Pharmacy, Inc. filed a complaint in the United States District Court for the Northern District of Illinois. The parties agreed that CVS Pharmacy, Inc. would be bound by the court’s ruling on the defendants’ motion to dismiss the Opt-Out Plaintiffs’ complaints. On February 10, 2016, the court granted in part and denied in part defendants’ motion to dismiss the end-payor purchaser plaintiffs’ consolidated amended complaint, and denied defendants’ motion to dismiss the direct purchaser plaintiffs’ consolidated amended complaint. The end-payor purchaser plaintiffs have filed a second consolidated amended complaint and the Company has moved to dismiss certain state law claims. On February 25, 2016, the court granted defendants’ motion to dismiss the Opt-Out Plaintiffs’ complaints, with leave to amend. The Opt-Out Plaintiffs and CVS Pharmacy, Inc. have filed amended complaints and the Company has filed its answer. Discovery is ongoing. No trial date has been scheduled. Civil Investigation Demand from the Attorney General of the State of Alaska On February 10, 2015, the Company received three CIDs from the Office of the Attorney General of the State of Alaska (“Alaska AG”) concerning its investigations into the drugs Adderall XR ® , Effexor XR ® and Opana ® ER (each a “Product” and collectively, the “Products”) and their generic equivalents. According to the Alaska AG, the investigation is to determine whether the Company may have violated Alaskan state law by entering into settlement agreements with the respective brand name manufacturer for each of the foregoing Products that delayed generic entry of such Product into the marketplace. The Company has cooperated with the Alaska AG in producing documents and information in response to the CIDs. To the knowledge of the Company, no proceedings have been initiated against the Company at this time; however no assurance can be given as to the timing or outcome of this investigation. United States Department of Justice Investigations Previously on November 6, 2014, the Company disclosed that one of its sales representatives received a grand jury subpoena from the Antitrust Division of the United States Justice Department (the “Justice Department”). In connection with this same investigation, on March 13, 2015, the Company received a grand jury subpoena from the Justice Department requesting the production of information and documents regarding the sales, marketing, and pricing of certain generic prescription medications. In particular, the Justice Department’s investigation currently focuses on four generic medications: digoxin tablets, terbutaline sulfate tablets, prilocaine/lidocaine cream, and calcipotriene topical solution. The Company has been cooperating and intends to continue cooperating with the investigation. However, no assurance can be given as to the timing or outcome of the investigation. Attorney General of the State of Connecticut Interrogatories and Subpoena Duces Tecum On July 14, 2014, the Company received a subpoena and interrogatories (the “Subpoena”) from the State of Connecticut Attorney General (“Connecticut AG”) concerning its investigation into sales of the Company’s generic product, digoxin. According to the Connecticut AG, the investigation is to determine whether anyone engaged in a contract, combination or conspiracy in restraint of trade or commerce which has the effect of (i) fixing, controlling or maintaining prices or (ii) allocating or dividing customers or territories relating to the sale of digoxin in violation of Connecticut state antitrust law. The Company intends to cooperate with the Connecticut AG in producing documents and information in response to the Subpoena. To the knowledge of the Company, no proceedings by the Connecticut AG have been initiated against the Company at this time; however no assurance can be given as to the timing or outcome of this investigation. In re Generic Digoxin and Doxycycline Class Action From March 2016 to October 2016, 21 complaints were filed as class actions on behalf of direct and indirect purchasers against manufacturers of generic digoxin and doxycycline and the Company alleging a conspiracy to fix, maintain and/or stabilize prices of these generic products. On March 2, 2016, Plaintiff International Union of Operating Engineers Local 30 Benefits Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. The plaintiff filed an amended complaint on June 9, 2016. On March 25, 2016, Plaintiff Tulsa Firefighters Health and Welfare Trust, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On March 25, 2016, Plaintiff NECA-IBEW Welfare Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On April 4, 2016, Plaintiff Pipe Trade Services MN, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On April 25, 2016, Plaintiff Edward Carpinelli, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On April 27, 2016, Plaintiff Fraternal Order of Police, Miami Lodge 20, Insurance Trust Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On May 2, 2016, Plaintiff Nina Diamond, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On May 5, 2016, Plaintiff UFCW Local 1500 Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On May 6, 2016, Plaintiff Minnesota Laborers Health and Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On May 12, 2016, Plaintiff The City of Providence, Rhode Island, an indirect purchaser, filed a class action complaint in the United States District Court for the District of Rhode Island on behalf of itself and others similarly situated. On May 18, 2016, Plaintiff KPH Healthcare Services, Inc. a/k/a Kinney Drugs, Inc., a direct purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On May 19, 2016, Plaintiff Philadelphia Federation of Teachers Health and Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 8, 2016, Plaintiff United Food & Commercial Workers and Employers Arizona Health and Welfare Trust, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 17, 2016, Plaintiff Ottis McCrary, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 20, 2016, Plaintiff Rochester Drug Co-Operative, Inc., a direct purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 27, 2016, Plaintiff César Castillo Inc., a direct purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On June 29, 2016, Plaintiff Plumbers & Pipefitters Local 33 Health and Welfare Fund, an indirect purchaser, filed a class action complaint in the United States District Court for the Eastern District of Pennsylvania on behalf of itself and others similarly situated. On July 1, 2016, Plaintiff Plumbers

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company has two reportable segments, Impax Generics and Impax Specialty Pharma. Impax Generics develops, manufactures, sells, and distributes generic pharmaceutical products, primarily through the following sales channels: the Impax Generics sales channel for sales of generic prescription products directly to wholesalers, large retail drug chains, and others; the Private Label Product sales channel for generic over-the-counter and prescription products sold to unrelated third-party customers who, in turn, sell the products under their own label; the Rx Partner sales channel for generic prescription products sold through unrelated third-party pharmaceutical entities under their own label pursuant to alliance agreements; and the OTC Partner sales channel for over-the-counter products sold through unrelated third-party pharmaceutical entities under their own labels pursuant to alliance and supply agreements. Revenues from the “Impax Generics” sales channel and the “Private Label” sales channel are reported under the caption “Impax Generics sales, net” in “Note 24. Supplementary Financial Information.” Revenues from the “OTC Partner” sales channel are reported under the caption “Other Revenues” in “Note 24. Supplementary Financial Information.” Impax Specialty Pharma is engaged in the development, sale and distribution of proprietary brand pharmaceutical products that the Company believes represent improvements to already-approved pharmaceutical products addressing central nervous system (“CNS”) disorders and other select specialty segments. Impax Specialty Pharma currently has one internally developed branded pharmaceutical product, Rytary® (IPX066), an extended release oral capsule formulation of carbidopa-levodopa for the treatment of Parkinson’s disease, post-encephalitic parkinsonism, and parkinsonism that may follow carbon monoxide intoxication and/or manganese intoxication, which was approved by the FDA on January 7, 2015 and which the Company launched in April 2015. In November 2015, the European Commission granted marketing authorization for Numient® (IPX066) (referred to as Rytary® in the United States). The review of the Numient® application was conducted under the centralized licensing procedure as a therapeutic innovation, and authorization is applicable in all 28 member states of the European Union, as well as Iceland, Liechtenstein and Norway. Impax Specialty Pharma is also engaged in the sale and distribution of four other branded products including Zomig® (zolmitriptan) products, indicated for the treatment of migraine headaches, under the terms of the AZ Agreement with AstraZeneca in the United States and in certain U.S. territories, and Emverm® (mebendazole) 100 mg chewable tablets, indicated for the treatment of pinworm, whipworm, common roundworm, common hookworm, and American hookworm in single or mixed infections. Revenues from Impax-labeled branded products are reported under the caption “Impax Specialty Pharma sales, net” in “Note 24. Supplementary Financial Information.” Finally, the Company generated revenue in Impax Specialty Pharma from research and development services provided under a development and license agreement with another unrelated third-party pharmaceutical company (which was terminated by mutual agreement of the parties effective December 23, 2015), and reports such revenue under the caption “Other Revenues” in “Note 24. Supplementary Financial Information.” Impax Specialty Pharma also has a number of product candidates that are in varying stages of development. The Company’s chief operating decision maker evaluates the financial performance of the Company’s segments based upon segment income (loss) before income taxes. Items below income (loss) from operations are not reported by segment, since they are excluded from the measure of segment profitability reviewed by the Company’s chief operating decision maker. Additionally, general and administrative expenses, certain selling expenses, certain litigation settlements, and non-operating income and expenses are included in “Corporate and Other.” The Company does not report balance sheet information by segment since it is not reviewed by the Company’s chief operating decision maker. The accounting policies for the Company’s segments are the same as those described above in the discussion of "Revenue Recognition" and in “Note 4. Summary of Significant Accounting Policies.” The Company has no inter-segment revenue. The tables below present segment information reconciled to total Company financial results, with segment operating income or loss including gross profit less direct research and development expenses and direct selling expenses as well as any litigation settlements, to the extent specifically identified by segment (in thousands): Year Ended December 31, 2016 Impax Impax Corporate Total Revenues, net $ 606,320 $ 218,109 $ — $ 824,429 Cost of revenues 417,316 69,583 — 486,899 Cost of revenues impairment charges 464,319 24,313 — $ 488,632 Selling, general and administrative 20,508 61,448 119,874 $ 201,830 Research and development 61,980 18,486 — 80,466 In-process research and development impairment charges 27,765 25,200 — $ 52,965 Patent litigation 829 6,990 — 7,819 (Loss) income before income taxes $ (386,397 ) $ 12,089 $ (202,017 ) $ (576,325 ) Year Ended December 31, 2015 Impax Impax Corporate Total Revenues, net $ 710,932 $ 149,537 $ — $ 860,469 Cost of revenues 442,742 58,020 — 500,762 Cost of revenues impairment charges 7,303 — — 7,303 Selling, general and administrative 29,641 52,427 119,219 $ 201,287 Research and development 52,478 18,144 — 70,622 In-process research and development impairment charges 6,360 — — 6,360 Patent litigation 2,942 1,625 — 4,567 Income (loss) before income taxes $ 169,466 $ 19,321 $ (129,419 ) $ 59,368 Year Ended December 31, 2014 Impax Impax Corporate Total Revenues, net $ 549,082 $ 46,967 $ — $ 596,049 Cost of revenues 257,583 22,937 — 280,520 Cost of revenues impairment charges 2,876 — — 2,876 Selling, general and administrative 17,144 43,307 78,939 $ 139,390 Research and development 40,927 37,715 — 78,642 Patent litigation 5,333 472 — 5,805 Income (loss) before income taxes $ 225,219 $ (57,464 ) $ (77,196 ) $ 90,559 Significant Products The Company generally consolidates net revenue by “product family,” that is, it consolidates net revenue from products containing the same active ingredient(s) irrespective of dosage strength, delivery method or packaging size. The Company’s significant product families, as determined based on net revenue, and their percentage of the Company’s consolidated net revenue for each of the years ended December 31, 2016, 2015 and 2014 are set forth in the tables below (in thousands): Segment Product Family 2016 $ % Impax Generics Epinephrine Auto-Injector family (generic Adrenaclick®) $ 91,572 11 % (1) Impax Specialty Pharma Rytary® Family $ 73,833 9 % (2) Impax Generics Oxymorphone HCI ER family $ 72,661 9 % (3) Impax Generics Diclofenac Sodium Gel family (generic Solaraze®) $ 69,035 8 % (4) Impax Generics Fenofibrate family $ 64,001 8 % (5) Segment Product Family 2015 $ % Impax Generics Diclofenac Sodium Gel family (generic Solaraze®) $ 148,610 17 % (4) Impax Generics Amphetamine Salts ER (CII) family (generic Adderall®) $ 106,252 12 % (6) Impax Generics Fenofibrate family $ 93,458 11 % (5) Impax Generics Metaxalone family (generic Skelaxin) $ 69,876 8 % (7) Impax Generics Oxymorphone HCI ER family $ 59,175 7 % (3) Segment Product Family 2014 $ % Impax Generics Amphetamine Salts ER (CII) family (generic Adderall®) $ 115,411 19 % (6) Impax Generics Fenofibrate family $ 111,550 19 % (5) Impax Generics Sevelamer Carbonate family (generic Renvela®) $ 81,976 14 % (8) Impax Generics Oxymorphone HCI ER family $ 65,323 11 % (3) Impax Generics Digoxin family (generic Lanoxin) $ 49,702 8 % (9) (1) Epinephrine Auto-Injector (generic Adrenaclick®) product family consists of the injector product in two different strengths and is indicated in the emergency treatment of allergic reactions (Type 1) including anaphylaxis. (2) Rytary® product family consists of the capsules product in four different strengths and is indicated for the treatment of Parkinson’s disease, post-encephalitic parkinsonism, and parkinsonism that may follow carbon monoxide intoxication or manganese intoxication. (3) Oxymorphone Hydrochloride Extended Release product family consists of the oxymorphone hydrochloride extended release tablet formulation of the product in seven different strengths and is indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. (4) Diclofenac Sodium Gel (generic Solaraze®) product family consists of one product strength and is indicated for the topical treatment of actinic keratosis. (5) Fenofibrate product family consists of products in both capsule and tablet dosage forms in seven different strengths and is indicated as adjunctive therapy to diet to reduce elevated LDL-C, Total-C, Triglycerides and Apo B, and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia (Fredrickson Types IIa and IIb); and also indicated as adjunctive therapy to diet for treatment of adult patients with hypertriglyceridemia (Fredrickson Types IV and V hyperlipidemia). (6) Amphetamine Salts extended release capsules, CII (generic Adderall XR®) product family consists of the capsules product in six different strengths and is indicated for the treatment of attention deficit hyperactivity disorder. (7) Metaxalone (generic Skelaxin®) product family consists of the tablet product in two different strengths and is indicated as an adjunct to rest, physical therapy, and other measures for the relief of discomforts associated with acute, painful musculoskeletal conditions. (8) Sevelamar Carbonate (generic Renvela®) product family consists of the tablet product and is indicated for the control of serum phosphorous in patients with chronic kidney disease on dialysis. (9) Digoxin (generic Lanoxin®) product family consists of the tablet product in two different strengths and is indicated for the treatment of mild to moderate heart failure in adults, to increase myocardial contractility in pediatric patients with heart failure and the control of ventricular response rate in adult patients with chronic atrial fibrillation. Foreign Operations The Company’s wholly-owned subsidiary, Impax Laboratories (Taiwan) Inc., has constructed a facility in Taiwan which is utilized for manufacturing, research and development, warehouse, and administrative functions, with $134.9 million and $131.6 million of net carrying value of assets, composed principally of a building and equipment, included in the Company's consolidated balance sheets at December 31, 2016 and 2015 , respectively.

SUPPLEMENTARY FINANCIAL INFORMA

SUPPLEMENTARY FINANCIAL INFORMATION (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
SUPPLEMENTARY FINANCIAL INFORMATION (Unaudited)	SUPPLEMENTARY FINANCIAL INFORMATION (Unaudited) Selected financial information for the quarterly periods noted is as follows: 2016 Quarters Ended (in thousands, except share and per share amounts) March 31 June 30 September 30 December 31 Revenue: Impax Generics sales, gross $ 611,281 $ 531,226 $ 651,372 $ 687,462 Less: Chargebacks 217,354 197,864 254,681 310,961 Rebates 185,476 178,097 163,340 193,838 Product returns 11,913 10,237 16,151 7,920 Other credits 29,354 25,075 48,607 38,729 Impax Generics sales, net 167,184 119,953 168,593 136,014 Rx Partner 2,835 1,669 6,672 3,163 Other Revenues 60 73 55 49 Impax Generics revenues, net 170,079 121,695 175,320 139,226 Impax Specialty Pharma sales, gross 82,073 81,254 77,841 108,149 Less: Chargebacks 6,111 8,826 5,439 15,253 Rebates 2,853 2,430 3,556 3,016 Product returns 1,508 1,279 574 2,802 Other credits 16,172 17,824 15,683 27,854 Impax Specialty Pharma sales, net 55,429 50,895 52,589 59,224 Other Revenues — — — (28 ) Impax Specialty Pharma revenues, net 55,429 50,895 52,589 59,196 Total revenues 225,508 172,590 227,909 198,422 Gross profit (loss) 102,590 72,984 (165,426 ) (161,250 ) Net loss $ (10,408 ) $ (2,701 ) $ (179,337 ) $ (279,585 ) Net loss per common share: Basic $ (0.15 ) $ (0.04 ) $ (2.51 ) $ (3.91 ) Diluted $ (0.15 ) $ (0.04 ) $ (2.51 ) $ (3.91 ) Weighted-average common shares outstanding: Basic 70,665,394 71,100,123 71,331,247 71,487,071 Diluted 70,665,394 71,100,123 71,331,247 71,487,071 Quarterly computations of net (loss) income per share amounts are made independently for each quarterly reporting period, and the sum of the per share amounts for the quarterly reporting periods may not equal the per share amounts for the year-to-date reporting period. 2015 Quarters Ended (in thousands, except share and per share amounts) March 31 June 30 September 30 December 31 Revenue: Impax Generics sales, gross $ 355,321 $ 572,079 $ 565,261 $ 705,574 Less: Chargebacks 126,607 228,977 212,588 239,920 Rebates 83,130 140,340 141,646 200,721 Product returns 6,427 7,528 6,276 8,888 Other credits 13,198 23,961 26,295 31,889 Impax Generics sales, net 125,959 171,273 178,456 224,156 Rx Partner 2,239 2,579 1,957 2,532 Other Revenues 543 827 253 158 Impax Generics revenues, net 128,741 174,679 180,666 226,846 Impax Specialty Pharma sales, gross 29,219 65,269 69,286 86,274 Less: Chargebacks 5,561 4,452 5,893 9,159 Rebates 1,418 1,318 1,078 1,991 Product returns 2,620 6,763 2,824 2,641 Other credits 5,492 13,461 19,285 20,866 Impax Specialty Pharma sales, net 14,128 39,275 40,206 51,617 Other Revenues 227 228 227 3,629 Impax Specialty Pharma revenues, net 14,355 39,503 40,433 55,246 Total revenues 143,096 214,182 221,099 282,092 Gross profit 59,234 84,851 93,549 114,770 Net (loss) income $ (6,333 ) $ (1,852 ) $ 35,755 $ 11,427 Net (loss) income per common share: Basic $ (0.09 ) $ (0.03 ) $ 0.51 $ 0.16 Diluted $ (0.09 ) $ (0.03 ) $ 0.49 $ 0.16 Weighted-average common shares outstanding: Basic 68,967,875 69,338,789 69,820,348 70,416,757 Diluted 68,967,875 69,338,789 72,777,746 72,041,760 Quarterly computations of net (loss) income per share amounts are made independently for each quarterly reporting period, and the sum of the per share amounts for the quarterly reporting periods may not equal the per share amounts for the year-to-date reporting period.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Voluntary Prepayment of $50.0 Million of Principal - RBC Term Loan Facility On February 28, 2017, the Company made a voluntary prepayment in the amount of $50.3 million under its Term Loan Facility with RBC as administrative agent and the lender parties thereto, as described in "Note 13. Debt," representing $50.0 million of principal amount and $0.3 million of accrued interest thereon. As a result of the payment, the outstanding principal amount on the Term Loan Facility decreased to $345.0 million .

SCHEDULE II, VALUATION AND QUAL

SCHEDULE II, VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II, VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II, VALUATION AND QUALIFYING ACCOUNTS (In thousands) Column A Column B Column C Column D Column E Description Balance at Charge to Charge to Deductions Balance at For the Year Ended December 31, 2014: Reserve for bad debts $ 539 — — (24 ) $ 515 For the Year Ended December 31, 2015: Reserve for bad debts $ 515 5,122 9,550 * — $ 15,187 For the Year Ended December 31, 2016: Reserve for bad debts $ 15,187 41,213 — (1,664 ) $ 54,736 * Represents reserve for bad debts acquired.

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements of the Company include the accounts of the operating parent company, Impax Laboratories, Inc., its wholly owned subsidiaries, including Impax Laboratories USA, LLC, Impax Laboratories (Taiwan), Inc., ThoRx Laboratories, Inc., Impax International Holding, Inc., Impax Holdings, LLC, Impax Laboratories (Netherlands) C.V., Impax Laboratories (Netherlands) B.V., Impax Laboratories Ireland Limited, Lineage and Tower, including operating subsidiaries CorePharma, Amedra Pharmaceuticals, Mountain LLC and Trail Services, Inc., in addition to an equity investment in Prohealth Biotech (Taiwan), Inc. (“Prohealth”), in which the Company held a 57.54% majority ownership interest at December 31, 2016 . All significant intercompany accounts and transactions have been eliminated.
Foreign Currency Translation	Foreign Currency Translation The Company translates the assets and liabilities of the Taiwan dollar functional currency of its majority-owned affiliate Prohealth and its wholly-owned subsidiary Impax Laboratories (Taiwan), Inc. into the U.S. dollar reporting currency using exchange rates in effect at the end of each reporting period. The revenues and expenses of these entities are translated using an average of the rates in effect during the reporting period. Gains and losses from these translations are recorded as currency translation adjustments included in the consolidated statements of comprehensive (loss) income and the consolidated statements of changes in stockholders’ equity.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”) and the rules and regulations of the U.S. Securities & Exchange Commission (“SEC”) requires the use of estimates and assumptions, based on complex judgments considered reasonable, which affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The most significant judgments are employed in estimates used in determining values of tangible and intangible assets, contingent consideration, legal contingencies, tax assets and tax liabilities, fair value of share-based compensation related to equity incentive awards issued to employees and directors, and estimates used in applying the Company’s revenue recognition policy, including those related to accrued chargebacks, rebates, product returns, Medicare, Medicaid, and other government rebate programs, shelf-stock adjustments, and the timing and amount of deferred and recognized revenue and deferred and amortized product manufacturing costs related to alliance and collaboration agreements. Actual results may differ from estimated results.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the presentation for the year ended December 31, 2016 .
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term investments with a maturity of three months or less at the date of purchase to be cash equivalents. Cash and cash equivalents are stated at cost, which, for cash equivalents, approximates fair value due to the short-term nature. The Company is potentially subject to financial instrument concentration of credit risk through its cash and cash equivalents.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are cash, cash equivalents and accounts receivable. Cash is held on deposit in demand accounts at large financial institutions in amounts in excess of the Federal Deposit Insurance Corporation (FDIC) insurance coverage limit of $250,000 per depositor, per FDIC-insured bank, per ownership category. Cash equivalents are comprised of highly-rated money market funds. The Company limits its credit risk with respect to accounts receivable by performing credit evaluations of customers when deemed necessary. The Company does not require collateral to secure amounts due from its customers.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company maintains allowances for doubtful accounts for estimated losses resulting from amounts deemed to be uncollectible from its customers; these allowances are for specific amounts on certain accounts based on facts and circumstances determined on a case-by-case basis.
Inventory	Inventory Inventory is stated at the lower of cost or market. Cost is determined using a standard cost method, and the cost flow assumption is first in, first out (“FIFO”) flow of goods. Standard costs are revised annually, and significant variances between actual costs and standard costs are apportioned to inventory and cost of goods sold based upon inventory turnover. Costs include materials, labor, quality control, and production overhead. Inventory is adjusted for short-dated, unmarketable inventory equal to the difference between the cost of inventory and the estimated value based upon assumptions about future demand and market conditions. If actual market conditions are less favorable than those projected by the Company, additional inventory write-downs may be required. Consistent with industry practice, the Company may build pre-launch inventories of certain products which are pending required approval from the FDA and/or resolution of patent infringement litigation, when, in the Company’s assessment, such action is appropriate to prepare for the anticipated commercial launch and FDA approval is expected in the near term and /or the related litigation will be resolved in the Company’s favor. The Company accounts for all costs of idle facilities, excess freight and handling costs, and wasted materials (spoilage) as a current period charge in accordance with U.S. GAAP.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Maintenance and repairs are charged to expense as incurred and costs of improvements and renewals are capitalized. Costs incurred in connection with the construction or major renovation of facilities, including interest directly related to such projects, are capitalized as construction in progress. Depreciation is recognized using the straight-line method based on the estimated useful lives of the related assets, which are generally 40 years for buildings, 10 to 15 years for building improvements, eight to 10 years for equipment, and four to 10 years for office furniture and equipment. Land and construction-in-progress are not depreciated.
Intangible Assets	Intangible Assets The Company’s intangible assets include both finite lived and indefinite-lived assets. Finite lived intangible assets, consisting of marketed product rights and royalties received from product sales by the Company's third party partners, are amortized over the estimated useful life of the asset based on the pattern in which the economic benefits are expected to be consumed or otherwise used up or, if that pattern is not readily determinable, on a straight-line basis. Indefinite-lived intangible assets consist of acquired IPR&D product rights and acquired future royalty rights to be paid based on other companies’ net sales of products not yet approved. IPR&D assets acquired in a business combination are considered indefinite-lived until the completion or abandonment of the associated research and development efforts. Amortization over the estimated useful life will commence at the time of the respective product’s launch. If FDA approval to market the product is not obtained, the Company will immediately expense the related capitalized cost. Finite lived intangible assets are tested for impairment when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. All of the Company's indefinite-lived intangible assets are tested for impairment at least annually during the fourth quarter of the fiscal year, or more often if indicators of impairment are present. Impairment testing requires management to estimate the future undiscounted cash flows of an intangible asset using assumptions believed to be reasonable, but which are unpredictable and inherently uncertain. Actual future cash flows may differ from the estimates used in the impairment testing. The Company recognizes an impairment loss when and to the extent that the estimated fair value of an intangible asset is less than its carrying value.
Goodwill	Goodwill In accordance with FASB ASC Topic 350, " Goodwill and Other Intangibles ," rather than recording periodic amortization, goodwill is subject to an annual assessment for impairment by applying a fair value based test. If the fair value of the reporting unit exceeds the reporting unit’s carrying value, including goodwill, then goodwill is considered not impaired, making further analysis not required. The Company considers the Impax Generics division and the Impax Specialty Pharma division operating segments to each be a reporting unit. The Company attributes $59.7 million of goodwill to the Impax Specialty Pharma division and $147.6 million of goodwill to the Impax Generics division. The Company concluded the carrying value of goodwill was no t impaired as of December 31, 2016 and 2015 as the fair value of the Impax Specialty Pharma division and the Impax Generics division exceeded their carrying value at each date. The Company performs its annual goodwill impairment test in the fourth quarter of each year. The Company estimated the fair value of the Impax Specialty Pharma division and the Impax Generics division using a discounted cash flow model for both the reporting unit and the enterprise. In addition, on a quarterly basis, the Company performs a review of its business operations to determine whether events or changes in circumstances have occurred which could have a material adverse effect on the estimated fair value of each reporting unit, and thus indicate a potential impairment of the goodwill carrying value. If such events or changes in circumstances were deemed to have occurred, the Company would perform an interim impairment analysis, which may include the preparation of a discounted cash flow model, or consultation with one or more valuation specialists, to determine the impact, if any, on the Company’s assessment of the reporting unit’s fair value.
Derivatives	Derivatives The Company generally does not use derivative instruments or engage in hedging activities in its ordinary course of business. Prior to June 30, 2015, the Company had no derivative assets or liabilities and did not engage in any hedging activities. As a result of the Company’s June 30, 2015 issuance of the convertible senior notes described in “Note 13. Debt”, the conversion option of the notes temporarily met the criteria for an embedded derivative liability which required bifurcation and separate accounting. Concurrently with the issuance of the notes, the Company entered into a series of convertible note hedge and warrant transactions which in combination are designed to reduce the potential dilution to the Company’s stockholders and/or offset the cash payments the Company is required to make in excess of the principal amount upon conversion of the notes. See “Note 14. Stockholders’ Equity” for additional information regarding the note hedge transactions and warrant transactions. While the warrants sold were classified as equity and recorded in additional paid-in capital, the call options purchased were temporarily classified as a bond hedge derivative asset on the Company’s consolidated balance sheet. The Company engaged a third-party valuation firm with expertise in valuing financial instruments to determine the fair value of the bond hedge derivative asset and conversion option derivative liability at each reporting period. The Company’s consolidated balance sheets reflected the fair value of the derivative asset and liability as of the reporting date, and changes in the fair value were reflected in current period earnings, as appropriate. As result of the amendment to the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of the Company's common stock discussed in “Note 14. Stockholders’ Equity,” both the derivative asset and liability were reclassified to additional paid-in capital. The Company had no derivative assets or liabilities and did not engage in any hedging activities as of December 31, 2016 or 2015 .
Contingencies	Contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, covering a wide range of matters, including, among others, patent litigation, stockholder lawsuits, and product and clinical trial liability. The Company records accruals for such loss contingencies when it is probable a liability will have been incurred and the amount of loss can be reasonably estimated. The Company does not recognize gain contingencies until realized. The Company records an accrual for legal costs in the period incurred.
Deferred Financing Costs	Deferred Financing Costs The Company capitalizes direct costs incurred to obtain debt financing and amortizes these costs to interest expense using the effective interest method over the term of the debt. These costs are recorded as a debt discount and the unamortized costs are netted against the related debt on the Company’s consolidated balance sheets. For line-of-credit arrangements with no outstanding borrowing, the costs incurred to obtain the credit facility are amortized to interest expense using the straight-line method over the term of the line-of-credit arrangement. The unamortized balance is included in other assets on the Company’s consolidated balance sheets.
Revenue Recognition	Revenue Recognition The Company recognizes revenue when the earnings process is complete, which under SEC Staff Accounting Bulletin No. 104, Topic No. 13, “Revenue Recognition” (“SAB 104”), is when revenue is realized or realizable and earned, there is persuasive evidence a revenue arrangement exists, delivery of goods or services has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. The Company accounts for material revenue arrangements which contain multiple deliverables in accordance with FASB ASC Topic 605-25, Revenue Recognition - Multiple Element Arrangements ("ASC 605-25"), which addresses the determination of whether an arrangement involving multiple deliverables contains more than one unit of accounting. A delivered item within an arrangement is considered a separate unit of accounting only if both of the following criteria are met: • the delivered item has value to the customer on a stand-alone basis; and • if the arrangement includes a general right of return relative to the delivered item, delivery or performance of the undelivered item is considered probable and substantially in the control of the vendor. Under ASC Topic 605-25, if both of the criteria above are not met, then separate accounting for the individual deliverables is not appropriate. Revenue recognition for arrangements with multiple deliverables constituting a single unit of accounting is recognized generally over the greater of the term of the arrangement or the expected period of performance, either on a straight-line basis or on a modified proportional performance method. The Company accounts for milestones related to research and development activities in accordance with FASB ASC Topic 605-28, Revenue Recognition - Milestone Method ("ASC 605-28"). ASC Topic 605-28 allows for the recognition of consideration, which is contingent on the achievement of a substantive milestone, in its entirety in the period the milestone is achieved. A milestone is considered to be substantive if all of the following criteria are met: • the milestone is commensurate with either: (1) the performance required to achieve the milestone, or (2) the enhancement of the value of the delivered items resulting from the performance required to achieve the milestone; • the milestone relates solely to past performance; and • the milestone payment is reasonable relative to all of the deliverables and payment terms within the agreement. Impax Generics revenues, net, and Impax Specialty Pharma revenues, net The Impax Generics revenues, net and Impax Specialty Pharma revenues, net include revenue recognized related to shipments of generic and branded pharmaceutical products to the Company’s customers, primarily drug wholesalers and retail chains. Gross sales revenue is recognized at the time title and risk of loss passes to the customer, which is generally when product is received by the customer. Net revenues may include deductions from the gross sales price related to estimates for chargebacks, rebates and administrative fees, distribution service fees, returns, shelf-stock adjustments, and other pricing adjustments. The Company records an estimate for these deductions in the same period when revenue is recognized. A description of each of these gross-to-net deductions follows. • Chargebacks The Company has agreements establishing contract prices for certain products with certain indirect customers, such as retail pharmacy chains, group purchasing organizations, managed care organizations, hospitals and government agencies who purchase products from drug wholesalers. The contract prices are lower than the prices the customer would otherwise pay to the wholesaler, and the price difference is referred to as a chargeback, which generally takes the form of a credit memo issued by the Company to reduce the invoiced gross selling price charged to the wholesaler. An estimated accrued provision for chargeback deductions is recognized at the time of product shipment. The primary factors considered when estimating the provision for chargebacks are the average historical chargeback credits given, the mix of products shipped, and the amount of inventory on hand at the major drug wholesalers with whom the Company does business. The Company also monitors actual chargebacks granted and compares them to the estimated provision for chargebacks to assess the reasonableness of the chargeback reserve at each quarterly balance sheet date. • Rebates and Administrative Fees The Company maintains various rebate and administrative fee programs with its customers in an effort to maintain a competitive position in the marketplace and to promote sales and customer loyalty. The rebates generally take the form of a credit memo to reduce the invoiced gross selling price charged to a customer for products shipped. An estimated accrued provision for rebate deductions is recognized at the time of product shipment. The primary factors the Company considers when estimating the provision for rebates are the average historical experience of aggregate payments issued, the mix of products shipped and the historical relationship of rebates as a percentage of total gross product sales, the contract terms and conditions of the various rebate programs in effect at the time of shipment, and the amount of inventory on hand at the major drug wholesalers with whom the Company does business. The Company also monitors actual rebates granted and compares them to the estimated provision for rebates to assess the reasonableness of the rebate reserve at each quarterly balance sheet date. • Distribution Service Fees The Company pays distribution service fees to several of its wholesaler customers related to sales of its Impax Products. The wholesalers are generally obligated to provide the Company with periodic outbound sales information as well as inventory levels of the Company’s Impax Products held in their warehouses. Additionally, the wholesalers have agreed to manage the variability of their purchases and inventory levels within specified days on hand limits. An accrued provision for distribution service fees is recognized at the time products are shipped to wholesalers. • Returns The Company allows its customers to return product if approved by authorized personnel in writing or by telephone with the lot number and expiration date accompanying any request and if such products are returned within six months prior to or until twelve months following, the product’s expiration date. The Company estimates and recognizes an accrued provision for product returns as a percentage of gross sales based upon historical experience. The product return reserve is estimated using a historical lag period, which is the time between when the product is sold and when it is ultimately returned, and estimated return rates which may be adjusted based on various assumptions including: changes to internal policies and procedures, business practices, commercial terms with customers, and the competitive position of each product; the amount of inventory in the wholesale and retail supply chain; the introduction of new products; and changes in market sales information. The Company also considers other factors, including significant market changes which may impact future expected returns, and actual product returns. The Company monitors actual returns on a quarterly basis and may record specific provisions for returns it believes are not covered by historical percentages. • Shelf-Stock Adjustments Based upon competitive market conditions, the Company may reduce the selling price of certain Impax Generics division products. The Company may issue a credit against the sales amount to a customer based upon their remaining inventory of the product in question, provided the customer agrees to continue to make future purchases of product from the Company. This type of customer credit is referred to as a shelf-stock adjustment, which is the difference between the initial sales price and the revised lower sales price, multiplied by an estimate of the number of product units on hand at a given date. Decreases in selling prices are discretionary decisions made by the Company in response to market conditions, including estimated launch dates of competing products and declines in market price. The Company records an estimate for shelf-stock adjustments in the period it agrees to grant such a credit memo to a customer. • Cash Discounts The Company offers cash discounts to its customers, generally 2% to 3% of the gross selling price, as an incentive for paying within invoice terms, which generally range from 30 to 90 days. An estimate of cash discounts is recorded in the same period when revenue is recognized. • Medicaid and Other U.S. Government Pricing Programs As required by law, the Company provides a rebate on drugs dispensed under the Medicaid program, Medicare Part D, TRICARE, and other U.S. government pricing programs. The Company determines its estimated government rebate accrual primarily based on historical experience of claims submitted by the various states and other jurisdictions and any new information regarding changes in the various programs which may impact the Company’s estimate of government rebates. In determining the appropriate accrual amount, the Company considers historical payment rates and processing lag for outstanding claims and payments. The Company records estimates for government rebates as a deduction from gross sales, with a corresponding adjustment to accrued liabilities. • Rx Partner and OTC Partner The Rx Partner and OTC Partner contracts include revenue recognized under alliance and collaboration agreements between the Company and unrelated third-party pharmaceutical companies. The Company has entered into these alliance agreements to develop marketing and/or distribution relationships with its partners to fully leverage its technology platform. The Rx Partners and OTC Partners alliance agreements obligate the Company to deliver multiple goods and/or services over extended periods. Such deliverables include manufactured pharmaceutical products, exclusive and semi-exclusive marketing rights, distribution licenses, and research and development services. In exchange for these deliverables the Company receives payments from its agreement partners for product shipments and research and development services, and may also receive other payments including royalties, profit sharing payments, and upfront and periodic milestone payments. Revenue received from the alliance agreement partners for product shipments under these agreements is not subject to deductions for chargebacks, rebates, product returns, and other pricing adjustments. Royalty and profit sharing amounts the Company receives under these agreements are calculated by the respective agreement partner, with such royalty and profit share amounts generally based upon estimates of net product sales or gross profit which include estimates of deductions for chargebacks, rebates, product returns, and other adjustments the alliance agreement partners may negotiate with their respective customers. The Company records the agreement partner's adjustments to such estimated amounts in the period the agreement partner reports the amounts to the Company. The Company applies the updated guidance of ASC 605-25 to the Strategic Alliance Agreement, as amended with Teva Pharmaceuticals USA , Inc., an affiliate of Teva Pharmaceutical Industries Limited (the “Teva Agreement”). The Company looks to the underlying delivery of goods and/or services which give rise to the payment of consideration under the Teva Agreement to determine the appropriate revenue recognition. The Company initially defers consideration received as a result of research and development-related activities performed under the Teva Agreement. The Company recognizes deferred revenue on a straight-line basis over the expected period of performance for such services. Consideration received as a result of the manufacture and delivery of products under the Teva Agreement is recognized at the time title and risk of loss passes to the customer, which is generally when product is received by Teva. The Company recognizes profit share revenue in the period earned. OTC Partner revenue is related to agreements with Pfizer, Inc., formerly Wyeth LLC (“Pfizer”) and L. Perrigo Company (“Perrigo”) with respect to the supply of the Company's over-the-counter pharmaceutical product Loratadine and Pseudoephedrine Sulfate 5 mg/120 mg 12-hour Extended Release Tablets (the "D12 Product"). The OTC Partner sales channel is no longer a core area of the business, and the over-the-counter pharmaceutical products the Company sells through this sales channel are older products which are now only sold to Pfizer and Perrigo. The Company is currently only required to manufacture the over-the-counter pharmaceutical products under its agreements with Pfizer and Perrigo. The Company recognizes profit share revenue in the period earned. During the quarter ended September 30, 2016, the Company sold the ANDAs for both the D12 Product and the Loratadine and Pseudoephedrine Sulfate 10 mg/240 mg 24-hour Extended Release Tablets, in addition to other specified assets, to Perrigo pursuant to an asset purchase agreement with Perrigo dated as of March 31, 2016 (the "Perrigo APA"). Under the terms of the Perrigo APA, the Company will also continue to supply the D-12 Product to Pfizer and Perrigo until the date that is the earliest of (i) the date Perrigo’s manufacturing facility is approved to manufacture the D-12 Product and (ii) December 31, 2017 (the "Supply End Date"). On the Supply End Date, the Company will assign and transfer its supply agreement with Pfizer in its entirety to Perrigo in accordance with the Perrigo APA. • Research Partner The Research Partner contract revenue results from development agreements the Company enters into with unrelated third-party pharmaceutical companies. The development agreements generally obligate the Company to provide research and development services over multiple periods. In exchange for this service, the Company generally receives upfront payments upon signing of each development agreement and is eligible to receive contingent milestone payments, payment of which is based upon the achievement of contractually specified events. Additionally, the Company may also receive royalty payments from the sale, if any, of a successfully developed and commercialized product under one of these development agreements. The Company recognizes revenue received from the achievement of contingent research and development milestones in the period such payment is earned. Royalty revenue, if any, will be recognized as current period revenue when earned.
Shipping and Handling Fees and Costs	Shipping and Handling Fees and Costs Shipping and handling fees related to sales transactions are recorded as selling expense.
Research and Development Expenses	Research and Development Expenses Research and development activities are expensed as incurred and consist of self-funded research and development costs and costs associated with work performed by other participants under collaborative research and development agreements.
Share-Based Compensation	Share-Based Compensation The Company accounts for stock-based employee compensation arrangements in accordance with provisions of FASB ASC Topic 718 “ Stock Compensation. ” Under FASB ASC Topic 718, the Company recognizes the grant date fair value of stock-based employee compensation as expense on a straight-line basis over the vesting period of the grant. The Company uses the Black Scholes option pricing model to determine the grant date fair value of employee stock options. The fair value of restricted stock awards is equal to the closing price of the Company’s stock on the date such award was granted.
Income Taxes	Income Taxes The Company provides for income taxes using the asset and liability method as required by FASB ASC Topic 740, “ Income Taxes .” This approach recognizes the amount of federal, state, local and foreign taxes payable or refundable for the current year, as well as deferred tax assets and liabilities for the future tax consequences of events recognized in the consolidated financial statements and income tax returns. Deferred income tax assets and liabilities are adjusted to recognize the effects of changes in tax laws or enacted tax rates in the period during which they are signed into law. FASB ASC Topic 740 requires an assessment of whether valuation allowances are needed against deferred tax assets based upon consideration of all available evidence using a more likely than not standard. See "Note 19. Income Taxes" for further discussion of the Company’s valuation allowances. FASB ASC Topic 740, Sub-topic 10 “ Tax Positions ,” defines the criterion an individual tax position must meet for any part of the benefit of the tax position to be recognized in financial statements prepared in conformity with generally accepted accounting principles. Under FASB ASC Topic 740, Sub-topic 10, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based solely on the technical merits of the tax position. The tax benefits recognized in the financial statements from such a tax position should be measured based on the largest benefit having a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority. Additionally, FASB ASC Topic 740, Sub-topic 10 provides guidance on measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. In accordance with the disclosure requirements of FASB ASC Topic 740, Sub-topic 10, the Company’s policy on income statement classification of interest and penalties related to income tax obligations is to include such items as part of total interest expense and other expense, respectively.
Other Comprehensive Income	Other Comprehensive Income The Company follows the provisions of FASB ASC Topic 220, ” Comprehensive Income, ” which establishes standards for the reporting and display of comprehensive income and its components. Comprehensive income is defined to include all changes in equity during a period except those resulting from investments by owners and distributions to owners. The Company recorded foreign currency translation gains and losses, which are reported as comprehensive income.
Recent Accounting Pronouncements	RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the FASB issued Accounting Standards Update ("ASU") 2014-09, “ Revenue from Contracts with Customers ” (Topic 606) regarding the accounting for and disclosures of revenue recognition, with an effective date for annual and interim periods beginning after December 15, 2016. This update provides a single comprehensive model for accounting for revenue from contracts with customers. The model requires that revenue recognized reflect the actual consideration to which the entity expects to be entitled in exchange for the goods or services defined in the contract, including in situations with multiple performance obligations. In July 2015, the FASB issued ASU 2015-14, “ Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date ,” which deferred the effective date of the previously issued revenue recognition guidance by one year. The guidance will be effective for annual and interim periods beginning after December 15, 2017. In April 2016 and May 2016, the FASB issued ASU 2016-10, " Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing " and ASU 2016-12, " Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients ," respectively. Both of these updates provide improvements and clarification to the previously issued revenue recognition guidance. The guidance can be applied using one of two methods: retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application. The Company is currently evaluating the effect that this guidance may have on its consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): “ Simplifying the Measurement of Inventory ,” with guidance regarding the accounting for and measurement of inventory. The update requires that inventory measured using first-in, first-out ("FIFO") shall be measured at the lower of cost and net realizable value. When there is evidence that the net realizable value of inventory is lower than its cost, the difference shall be recognized as a loss in earnings in the period in which it occurs. The guidance will be effective for annual and interim periods beginning after December 15, 2016. The Company does not expect the adoption of this guidance to have a material effect on its consolidated financial statements. In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): “ Simplifying the Accounting for Measurement-Period Adjustments, ” with guidance regarding the accounting for and disclosure of measurement-period adjustments that occur in periods after a business combination is consummated. This update requires that the acquirer recognize measurement-period adjustments in the reporting period in which they are determined and, as such, eliminates the previous requirement to retrospectively account for these adjustments. This update also requires an entity to present separately on the face of the income statement, or disclose in the notes, the amount recorded in the current-period income statement that would have been recorded in previous reporting periods if the adjustments had been recognized as of the acquisition date. The effective date for annual and interim periods begins after December 15, 2015. The Company adopted this guidance during 2016, and it did not have a material effect on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), with guidance regarding the accounting for and disclosure of leases. The update requires lessees to recognize all leases, including operating leases, with a term greater than 12 months on the balance sheet. This update also requires lessees and lessors to disclose key information about their leasing transactions. The guidance will be effective for annual and interim periods beginning after December 15, 2018. The Company is currently evaluating the effect that this guidance will have on its consolidated financial statements and related disclosures. The Company's expects the implementation of this standard to have an impact on its consolidated financial statements and related disclosures as it has aggregate future minimum lease payments of $30.2 million as of December 31, 2016 under the current portfolio of non-cancelable leases for land, office space, and manufacturing, warehouse and research and development facilities with various expiration dates between April 2017 and October 2021. The Company anticipates recognition of additional assets and corresponding liabilities related to these leases on its consolidated balance sheet. In March 2016, the FASB issued ASU 2016-06, Derivatives and Hedging (Topic 915): " Contingent Put and Call Options in Debt Instruments ," with guidance regarding the accounting for embedded derivatives related to debt contracts. The update clarifies that determining whether the economic characteristics of a put or call are clearly and closely related to its debt host requires only an assessment of the four-step decision sequence outlined in FASB ASC paragraph 815-15-25-24. The update also indicates that entities are not required to separately assess whether the contingency itself is clearly and closely related. The guidance will be effective for annual and interim periods beginning after December 15, 2016. The Company does not expect the adoption of this guidance to have a material effect on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): " Improvements to Employee Share-Based Payment Accounting ," with guidance regarding the simplification of accounting for share-based payment award transactions. The update changes the accounting for such areas as the accounting and cash flow classification for excess tax benefits and deficiencies; forfeitures; and tax withholding requirements and cash flow classification. The guidance will be effective for annual and interim periods beginning after December 15, 2016. The Company will adopt the new guidance effective January 1, 2017 and has elected to eliminate the use of a forfeiture rate estimate in the determination of share-based compensation expense for restricted stock awards using the modified retrospective transition method, which will result in an estimated $1.4 million charge to opening retained earnings. In addition, the Company will present the cash paid for tax withholdings on stock options exercised and restricted stock awards vested in financing as opposed to the historical presentation in operating cash flows. Excess tax benefits or deficiencies, historically recorded to additional paid-in capital, will upon adoption be recorded to income tax expense as they occur. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): " Classification of Certain Cash Receipts and Cash Payments, " with guidance intended to reduce the diversity in practice regarding how certain cash receipts and cash payments are presented and classified within the statement of cash flows. The update addresses eight specific cash flow issues including debt prepayment or debt extinguishment costs, the settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies (COLIs) (including bank-owned life insurance policies (BOLIs)), distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. The guidance will be effective for annual and interim periods beginning after December 15, 2017. The Company is currently evaluating the effect that this guidance may have on its consolidated financial statements. In October 2016, the FASB issued ASU-2016-16, Income Taxes (Topic 740): " Intra-Entity Transfers of Assets Other Than Inventory, " with guidance intended to more faithfully represent the economics of intra-entity asset transfers. The update clarifies that entities must recognize the income tax consequences of intra-entity asset transfers, other than inventory, when the transfer occurs. The guidance will be effective for annual and interim periods beginning after December 15, 2017. The Company is currently evaluating the effect that this guidance may have on its consolidated financial statements. In December 2016, the FASB issued ASU-2016-19, Technical Corrections and Improvements, with amendments that cover a wide range of topics in the Accounting Standards Codification. This update includes amendments related to differences between original guidance and the Accounting Standards Codification, guidance clarification and reference corrections, simplifications to the Accounting Standards Codification, and minor improvements to the guidance. Most of the amendments do not require transition guidance and are effective upon issuance of the update. However, six amendments clarify guidance or correct references in the Accounting Standards Codification that could potentially result in changes in current practice because of either misapplication or misunderstanding of current guidance. Early adoption is permitted for the amendments that require transition guidance. The Company adopted this guidance during 2016, and it did not have a material effect on the Company’s consolidated financial statements.

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Teva Transaction
Business Acquisition [Line Items]
Schedule of Business Acquisitions, by Acquisition	The following is a preliminary estimate of the purchase price for the Teva Transaction as of the closing date of August 3, 2016 (in thousands): Estimated Fair Value Purchase price per the APAs $ 575,800 Upfront payment pursuant to Termination Agreement 10,000 Total cash consideration 585,800 Fair value of contingent consideration pursuant to Termination Agreement (1) 30,100 Total consideration transferred $ 615,900 (1) The contingent consideration arrangement pursuant to the Termination Agreement potentially requires the Company to pay up to $40.0 million of additional consideration to Teva upon the achievement of specified commercialization events related to methylphenidate hydrochloride. The $30.1 million fair value of the potential contingent consideration payments recognized on the acquisition date was estimated by applying a probability-weighted expected return methodology.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following is a preliminary estimate of the fair value of the intangible and tangible assets acquired in connection with the Teva Transaction on the closing date of August 3, 2016 (in thousands): Estimated Fair Value Intangible assets $ 613,032 Inventory - raw materials 2,868 Total assets acquired $ 615,900
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following identifies the Company’s preliminary allocations of purchase price to intangible assets, including the weighted-average amortization period, in total and by major intangible asset class as of the closing date. See also "Note 11. Intangible Assets and Goodwill" for a discussion on non-cash impairment charges recorded during the third and fourth quarters of 2016 related to the intangible assets acquired in the Teva Transaction (in thousands): Estimated Fair Value Weighted-Average Estimated Useful Life Marketed product rights $ 455,529 19 years Acquired IPR&D product rights (1) 157,503 n/a Total intangible assets $ 613,032 (1) "IPR&D" refers to the Company's in-process research and development product rights. Pursuant to the Termination Agreement, Teva returned to the Company its full commercial rights to its pending ANDA for the generic equivalent to Concerta ® (methylphenidate hydrochloride), a product the Company previously partnered with Teva USA under a Strategic Alliance Agreement dated June 27, 2001, as amended. As a result, the Company recognized an intangible asset of $78.9 million related to the reacquired IPR&D. The Company engaged a third-party valuation specialist to measure the value of the reacquired product right using a discounted cash flow analysis. The asset was determined to be indefinite-lived based on the market participant methodology prescribed in ASC 805.
Business Acquisition, Pro Forma Information	The unaudited pro forma combined results of operations for the years ended December 31, 2016 and 2015 (assuming the closing of the Teva Transaction occurred on January 1, 2015) are as follows (in thousands): Years Ended December 31, 2016 2015 Total revenues $ 927,593 $ 1,025,598 Net (loss) income (450,190 ) 70,057
Tower and Lineage
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following tables summarize the final fair values of the tangible and identifiable intangible assets acquired and liabilities assumed in the Tower Acquisition at the closing date, net of cash acquired of $41.5 million (in thousands): Accounts receivable (1) $ 56,851 Inventory 31,259 Income tax receivable and other prepaid expenses 2,407 Property, plant and equipment 27,540 Intangible assets 632,600 Intangible assets held for sale 4,000 Goodwill 179,755 Deferred income taxes 37,041 Other non-current assets 3,844 Total assets acquired 975,297 Current liabilities 67,584 Deferred tax liabilities 210,005 Other non-current liabilities 6,360 Total liabilities assumed 283,949 Cash paid, net of cash acquired $ 691,348 (1) The accounts receivable acquired in the Tower Acquisition had a fair value of $56.9 million , including an allowance for doubtful accounts of $9.0 million , which represented the Company’s best estimate on March 9, 2015 (the closing date of the transaction) of the contractual cash flows not expected to be collected by the acquired companies.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	The following table identifies the Company’s allocations, by category, of the Tower Acquisition purchase price to the intangible assets acquired as of the closing date (in thousands): Estimated Fair Weighted-Average (years) Marketed product rights $ 381,100 13 Royalty rights 80,800 12 Acquired IPR&D product rights 170,700 n/a Total intangible assets $ 632,600
Business Acquisition, Pro Forma Information	The unaudited pro forma combined results of operations for the years ended December 31, 2015 and 2014 (assuming the closing of the Tower Acquisition occurred on January 1, 2014) are as follows (in thousands): Year Ended December 31, 2015 Year Ended December 31, 2014 Total revenues $ 892,906 $ 819,838 Net income $ 54,285 $ 30,838

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedules of Concentration of Risk, by Risk Factor	The following tables present the percentage of total accounts receivable and gross revenues represented by the Company’s five largest customers as of and for the years ended December 31, 2016 , 2015 and 2014 : Percent of Total Accounts Receivable 2016 2015 2014 Customer #1 36.2 % 52.4 % 36.9 % Customer #2 35.6 % 24.8 % 28.2 % Customer #3 20.5 % 14.4 % 19.6 % Customer #4 1.7 % 0.7 % 0.6 % Customer #5 0.7 % 0.1 % 1.6 % Customer #6 0.5 % 1.0 % 1.8 % Customer #7 0.5 % 0.6 % 1.7 % Customer #8 0.3 % 0.5 % 1.7 % Total 96.0 % 94.5 % 92.1 % Top five largest customers 94.7 % 93.3 % 88.2 % Percent of Gross Revenues 2016 2015 2014 Customer #1 40.1 % 45.6 % 36.0 % Customer #2 28.4 % 21.7 % 20.7 % Customer #3 20.1 % 18.8 % 19.3 % Customer #4 1.2 % 1.1 % 1.8 % Customer #5 1.1 % 1.4 % 2.5 % Customer #6 0.4 % 0.4 % 1.9 % Total 91.3 % 89.0 % 82.2 % Top five largest customers 90.9 % 88.6 % 80.4 %

FAIR VALUE MEASUREMENT AND FI37

FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The carrying amounts and fair values of the Company’s financial instruments as of December 31, 2016 and 2015 are indicated below (in thousands): As of December 31, 2016 Fair Value Measurement Based on Carrying Fair Value Quoted Prices in Active Markets Significant Significant Unobservable Assets Deferred Compensation Plan assets (1) $ 37,382 $ 37,382 $ — $ 37,382 $ — Liabilities Term Loan Facility due August 2021, current portion (2) $ 20,000 $ 20,000 $ — $ 20,000 $ — Term Loan Facility due August 2021, long-term portion (2) $ 375,000 $ 375,000 $ — $ 375,000 $ — 2% Convertible Senior Notes due June 2022 (3) $ 600,000 $ 469,800 $ 469,800 $ — $ — Deferred Compensation Plan liabilities (1) $ 28,582 $ 28,582 $ — $ 28,582 $ — Contingent consideration (4) $ 31,048 $ 31,048 $ — $ — $ 31,048 As of December 31, 2015 Fair Value Measurement Based on Carrying Fair Value Quoted Prices in Active Markets Significant Significant Unobservable Assets Deferred Compensation Plan assets (1) $ 30,726 $ 30,726 $ — $ 30,726 $ — Liabilities 2% Convertible Senior Notes due June 2022 (3) $ 600,000 $ 602,250 $ 602,250 $ — $ — Deferred Compensation Plan liabilities (1) $ 25,581 $ 25,581 $ — $ 25,581 $ — (1) The Deferred Compensation Plan liabilities are non-current liabilities recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense in the Company’s consolidated statements of operations. The calculation of the Deferred Compensation Plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants and is included in the line item captioned “Other non-current liabilities” on the Company’s consolidated balance sheets. The Company invests participant contributions in corporate-owned life insurance (“COLI”) policies, for which the cash surrender value is included in the line item captioned “Other non-current assets” on the Company’s consolidated balance sheets. (2) The difference between the amount shown as the carrying value in the above tables and the amount shown on the Company’s consolidated balance sheets as of December 31, 2016 and 2015 represents the unaccreted discount related to deferred debt issuance costs. (3) The difference between the amount shown as the carrying value in the above tables and the amount shown on the Company’s consolidated balance sheets at December 31, 2016 and 2015 represents the unaccreted discounts related to deferred debt issuance costs and bifurcation of the conversion feature of the notes. (4) The contingent consideration liability is a non-current liability representing future consideration potentially payable to Teva upon the achievement of specified commercialization events related to methylphenidate hydrochloride in accordance with the Termination Agreement related to the Teva Transaction as described in "Note 2. Business Acquisitions." A discounted cash flow valuation model was used to value the contingent consideration. The valuation is based on significant unobservable inputs, including the probability and timing of successful product launch and the expected number of competitors at the time of launch and the launch anniversary date. The Company conducts a quarterly review of the underlying inputs and assumptions and significant changes in unobservable inputs could result in material changes to the contingent consideration liability. Changes in the value of the contingent consideration liability are included in "Other income (expense)" on the Company's consolidated statements of operations. A 5% increase or decrease in the probability of successful product launch would cause the fair value of the contingent consideration to both increase and decrease by $1.6 million , respectively. An increase or decrease in the number of competitors at the date of the product launch or the first anniversary would cause the fair value of the contingent consideration to decrease by $13.4 million and increase by $5.1 million , respectively. The maximum aggregate amount in contingent consideration payments the Company could be expected to make to Teva in accordance with the Termination Agreement related to methylphenidate hydrochloride is $40.0 million . The following table presents the changes in Level 3 instruments measured on a recurring basis for the year ended December 31, 2016 (in thousands)
Schedule of Contingent Consideration Measured on Recurring Basis	The following table presents the changes in Level 3 instruments measured on a recurring basis for the year ended December 31, 2016 (in thousands): As of December 31, Completion of Teva Transaction August 3, 2016 Change in Fair Value Included in Earnings (1) As of December 31, Contingent consideration — $30,100 $948 $31,048 (1) Earnings effect is included in Other, net in Other income (expense) in the Company's consolidated statement of operations.

ACCOUNTS RECEIVABLE (Tables)

ACCOUNTS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The composition of accounts receivable, net is as follows (in thousands): December 31, 2016 December 31, 2015 Gross accounts receivable (1) $ 780,865 $ 738,730 Less: Rebate reserve (277,800 ) (265,229 ) Less: Chargeback reserve (154,686 ) (102,630 ) Less: Distribution services reserve (18,318 ) (12,576 ) Less: Discount reserve (17,957 ) (18,657 ) Less: Uncollectible accounts reserve (2) (54,736 ) (15,187 ) Accounts receivable, net $ 257,368 $ 324,451 (1) Includes estimated $40.3 million and $40.6 million as of December 31, 2016 and 2015 , respectively, receivable due from Turing for reimbursement of Daraprim® chargebacks and Medicaid rebate liabilities. (2) As a result of the uncertainty of collection that developed since the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, the Company recorded a reserve of $48.0 million as of March 31, 2016, which represented the full amount of the estimated receivable due from Turing. See "Note 4. Summary of Significant Accounting Policies - Concentration of Credit Risk" for additional information regarding the Turing receivable. During the fourth quarter of 2016, the Company received a $7.7 million payment from Turing, which reduced the reserve balance to $40.3 million as of December 31, 2016 .
Allowance for Credit Losses on Financing Receivables	A roll-forward of the rebate and chargeback reserves activity for the years ended December 31, 2016 , 2015 and 2014 is as follows (in thousands): Years Ended December 31, Rebate reserve 2016 2015 2014 Beginning balance $ 265,229 $ 88,812 $ 88,449 Acquired balances — 75,447 — Provision recorded during the period for Impax Generics rebates 740,758 571,642 260,747 Credits issued during the period for Impax Generics rebates (728,187 ) (470,672 ) (260,384 ) Ending balance $ 277,800 $ 265,229 $ 88,812 The payment mechanisms for rebates in the Impax Generics and Impax Specialty Pharma divisions are different, which impacts the location on the Company's consolidated balance sheets. Impax Specialty Pharma rebates are classified as "Accrued expenses" on the Company's consolidated balance sheets. Years Ended December 31, 2016 2015 2014 Chargeback reserve Beginning balance $ 102,630 $ 43,125 $ 37,066 Acquired balances — 24,532 — Provision recorded during the period 1,014,108 833,157 487,377 Credits issued during the period (962,052 ) (798,184 ) (481,318 ) Ending balance $ 154,686 $ 102,630 $ 43,125

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Inventory, net of carrying value reserves, as of December 31, 2016 and 2015 consisted of the following (in thousands): December 31, 2016 December 31, 2015 Raw materials $ 53,808 $ 52,366 Work in-process 3,280 4,417 Finished goods 130,879 82,311 Total inventory 187,967 139,094 Less: Non-current inventory 12,737 13,512 Total inventory-current $ 175,230 $ 125,582

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net of accumulated depreciation, consisted of the following (in thousands): December 31, 2016 December 31, 2015 Land $ 5,603 $ 5,773 Buildings and improvements 174,303 165,322 Equipment 143,818 135,998 Office furniture and equipment 15,767 14,548 Construction-in-progress 50,191 25,659 Property, plant and equipment, gross 389,682 347,300 Less: Accumulated depreciation (156,310 ) (133,144 ) Property, plant and equipment, net $ 233,372 $ 214,156

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	The following tables show the gross carrying values and accumulated amortization, where applicable, of the Company’s intangible assets by type for the consolidated balance sheets presented (in thousands): December 31, 2016 Gross Carrying Value Accumulated Amortization Intangible Assets, Net Amortized intangible assets: Marketed product rights $ 524,733 $ (139,245 ) $ 385,488 Royalties 339 (339 ) — 525,072 (139,584 ) 385,488 Non-amortized intangible assets: Acquired IPR&D product rights 232,576 — 232,576 Acquired future royalty rights 2,402 — 2,402 234,978 — 234,978 Total intangible assets $ 760,050 $ (139,584 ) $ 620,466 December 31, 2015 Gross Carrying Value Accumulated Amortization Intangible Assets, Net Amortized intangible assets: Marketed product rights $ 458,675 $ (82,906 ) $ 375,769 Royalties 2,200 (189 ) 2,011 460,875 (83,095 ) 377,780 Non-amortized intangible assets: Acquired IPR&D product rights 145,640 — 145,640 Acquired future royalty rights 78,600 — 78,600 224,240 — 224,240 Total intangible assets $ 685,115 $ (83,095 ) $ 602,020
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table shows the expected future amortization of the Company’s finite lived intangible assets as of December 31, 2016 (in thousands): For the years ending December 31, Amortization 2017 $ 66,651 2018 69,718 2019 61,808 2020 48,555 2021 34,880 Thereafter 103,876 Total $ 385,488

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2016
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	The following table sets forth the Company’s accrued expenses (in thousands): December 31, 2016 December 31, 2015 Payroll-related expenses $ 37,986 $ 37,419 Product returns 72,888 48,950 Accrued shelf stock 7,032 6,619 Government rebates (1) 72,063 91,717 Legal and professional fees 8,395 5,929 Income taxes payable — 830 Physician detailing sales force fees — 1,132 Interest payable 544 500 Estimated Teva and Allergan chargebacks and rebates (2) 14,813 — Other 17,290 11,615 Total accrued expenses $ 231,011 $ 204,711 (1) Includes estimated $6.8 million and $40.6 million as of December 31, 2016 and 2015 , respectively, of liabilities for Daraprim® chargebacks and rebates resulting from utilization by Medicaid, Medicare and other federal, state and local governmental programs, health plans and other health care providers for product sold under the Company’s labeler code, which amounts are subject to reimbursement by Turing in accordance with the terms of the Company's purchase agreement with Turing. The Company made payments of $33.5 million on Turing's behalf during 2016. See "Note 4. Summary of Significant Accounting Policies - Concentration of Credit Risk" for additional information related to the Turing receivable. (2) As discussed in "Note 2. Business Acquisitions," pursuant to certain agreed upon transition related services by and among the Company, Teva and Allergan after the closing of the Teva Transaction, the Company agreed to manage the payment process for certain commercial chargebacks and rebates on behalf of Teva and Allergan related to products each of Teva and Allergan sold into the channel prior to the Company's acquisition of the products. On August 18, 2016, the Company received a payment totaling $42.4 million from Teva and Allergan, which represented their combined estimate of the amount of commercial chargebacks and rebates to be paid by the Company on their behalf to wholesalers who purchased products from Teva and Allergan prior to the closing. Pursuant to the agreed upon transition services, Teva and Allergan are obligated to reimburse the Company for additional payments related to chargebacks and rebates for products they sold into the channel prior to the closing and made on their behalf in excess of the $42.4 million . If the total payments made by the Company on behalf of Teva and Allergan are less than $42.4 million , the Company is obligated to refund the difference to Teva and/or Allergan. As of December 31, 2016 , the Company had paid $27.6 million related to chargebacks and rebates as described above and $14.8 million remained in accrued expenses on the Company's consolidated balance sheet.
Schedule of Product Warranty Liability	A rollforward of the return reserve activity for the years ended December 31, 2016 , 2015 and 2014 is as follows (in thousands): Years Ended December 31, 2016 2015 2014 Returns reserve Beginning balance $ 48,950 $ 27,174 $ 28,089 Acquired balances — 11,364 — Provision related to sales recorded in the period 52,383 43,967 12,016 Credits issued during the period (28,445 ) (33,555 ) (12,931 ) Ending balance $ 72,888 $ 48,950 $ 27,174

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Common Stock Reserved for Future Issuance	In addition, the Company had reserved for issuance the following amounts of shares of its common stock for the purposes described below as of December 31, 2016 (in thousands): Shares issued 73,948 Stock options outstanding (1) 2,234 Conversion of Notes payable (2) 9,471 Warrants outstanding (see below) 9,471 Total shares of common stock issued and reserved for issuance 95,124 (1) See “Note 16. Share-Based Compensation” (2) See “Note 13. Debt”

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation of basic and diluted net income (loss) per share of common stock for the three years ended December 31, 2016 , 2015 and 2014 (in thousands, except per share amounts): Years Ended December 31, 2016 2015 2014 Basic (Loss) Earnings Per Common Share: Net (loss) income $ (472,031 ) $ 38,997 $ 57,353 Weighted-average common shares outstanding 71,147 69,640 68,186 Basic (loss) earnings per share $ (6.63 ) $ 0.56 $ 0.84 Diluted (Loss) Earnings Per Common Share: Net (loss) income $ (472,031 ) $ 38,997 $ 57,353 Add-back of interest expense on outstanding convertible notes payable, net of tax — (1) — (2) — (3) Adjusted net (loss) income $ (472,031 ) $ 38,997 $ 57,353 Weighted-average common shares outstanding 71,147 69,640 68,186 Weighted-average incremental shares related to assumed exercise of warrants and stock options, vesting of non-vested shares and ESPP share issuance — (4) 2,387 (5) 2,344 Weighted-average incremental shares assuming conversion of outstanding notes payable — (1) — (2) — (3) Diluted weighted-average common shares outstanding 71,147 (4) 72,027 (6) 70,530 (7) Diluted net (loss) income per share $ (6.63 ) $ 0.54 $ 0.81

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Stock Options, Activity	The stock option activity for all of the Company’s equity compensation plans noted above is summarized as follows: Stock Options Number of Shares Weighted- Outstanding at December 31, 2013 3,770,905 $ 14.01 Options granted 386,600 25.27 Options exercised (778,112 ) 13.76 Options forfeited (337,213 ) 20.48 Outstanding at December 31, 2014 3,042,180 $ 14.78 Options granted 406,950 41.27 Options exercised (1,042,198 ) 9.87 Options forfeited (1,561 ) 16.70 Outstanding at December 31, 2015 2,405,371 $ 21.39 Options granted 572,625 12.27 Options exercised (477,910 ) 19.09 Options forfeited (265,755 ) 35.88 Outstanding at December 31, 2016 2,234,331 $ 22.67 Options exercisable at December 31, 2016 1,536,879 $ 18.71
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	A summary of the non-vested restricted stock awards is as follows: Restricted Stock Awards Non-Vested Weighted- Non-vested at December 31, 2013 2,123,835 $ 21.13 Granted 1,449,585 25.35 Vested (796,966 ) 21.36 Forfeited (449,278 ) 21.47 Non-vested at December 31, 2014 2,327,176 $ 23.61 Granted 973,742 45.40 Vested (930,159 ) 22.64 Forfeited (224,261 ) 29.01 Non-vested at December 31, 2015 2,146,498 $ 33.20 Granted 1,245,184 31.77 Vested (893,190 ) 28.97 Forfeited (338,365 ) 33.87 Non-vested at December 31, 2016 2,160,127 $ 34.02
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The Company estimated the fair value of each stock option award on the grant date using the Black-Scholes option pricing model with the following assumptions: Years Ended December 31, 2016 2015 2014 Volatility (range) 38.1% - 40.3% 39.9% - 40.1% 40.1% - 41.7% Volatility (weighted average) 38.3% 40.0% 40.2% Risk-free interest rate (range) 1.2% - 1.9% 0.8% - 1.8% 0.6% - 1.9% Risk-free interest rate (weighted average) 1.4% 1.7% 1.8% Dividend yield —% —% —% Weighted-average expected life (years) 6.14 6.18 6.07 Weighted average grant date fair value $12.27 $17.08 $10.45
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	The amount of share-based compensation expense recognized by the Company is as follows (in thousands): Years Ended December 31, 2016 2015 2014 Manufacturing expenses $ 6,364 $ 4,479 $ 2,494 Research and development 5,697 5,996 5,072 Selling, general and administrative 20,119 18,138 13,317 Total $ 32,180 $ 28,613 $ 20,883

RESTRUCTURINGS (Tables)

RESTRUCTURINGS (Tables)	12 Months Ended
	Dec. 31, 2016
Restructuring and Related Activities [Abstract]
Summary of Total Estimated Charges to be Incurred by Type	The following is a summary of the total estimated charges to be incurred by major type of cost (in millions): Type of Cost Amount Expected to be Incurred Employee retention and severance payments $ 13.4 Technical transfer of products 11.2 Asset impairment and accelerated depreciation charges 18.0 Facilities lease terminations and asset retirement obligations 1.0 Legal and professional fees 0.3 Total estimated restructuring charges $ 43.9
Schedule of Restructuring Reserve by Type of Cost	A rollforward of the charges incurred for the year ended December 31, 2016 is as follows (in thousands): Balance as of Expensed/ Cash Non-Cash Balance as of December 31, 2015 Accrued Expense Payments Items December 31, 2016 Employee retention and severance payments $ — $ 6,636 $ (691 ) $ — $ 5,945 Technical transfer of products — 6,573 (6,573 ) — — Asset impairment and accelerated depreciation charges — 13,678 — (13,678 ) — Facilities lease terminations and asset retirement obligations — 209 — — 209 Legal and professional fees — 12 (12 ) — — Total $ — $ 27,108 $ (7,276 ) $ (13,678 ) $ 6,154

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The (benefit from) provision for income taxes is comprised of the following (in thousands): Years Ended December 31, 2016 2015 2014 Current: Federal taxes $ 21,386 $ 48,078 $ 42,635 State taxes 266 2,286 2,467 Foreign taxes 1,377 (442 ) 832 Total current tax expense 23,029 49,922 45,934 Deferred: Federal taxes $ (133,387 ) $ (23,605 ) $ (9,039 ) State taxes 5,502 (5,733 ) (3,597 ) Foreign taxes 562 (213 ) (92 ) Total deferred tax (benefit) expense (127,323 ) (29,551 ) (12,728 ) (Benefit from) provision for income taxes $ (104,294 ) $ 20,371 $ 33,206
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the difference between the tax provision at the federal statutory rate and actual income taxes on income before income taxes, which includes federal, state, and other income taxes, is as follows (in thousands): Years Ended December 31, 2016 2015 2014 (Loss) income before income taxes $ (576,325 ) $ 59,368 $ 90,559 Tax (benefit) provision at the federal statutory rate (201,714 ) 35.0 % 20,779 35.0 % 31,696 35.0 % Increase (decrease) in tax rate resulting from: Tax rate differential and permanent items on foreign income 186 — % 412 0.7 % 2,285 2.5 % State income taxes, net of federal benefit (7,394 ) 1.3 % 365 0.6 % 887 1.0 % State research and development credits (1,767 ) 0.3 % (2,357 ) (4.0 )% (2,133 ) (2.4 )% Federal research and development credits (2,213 ) 0.4 % (2,672 ) (4.5 )% (2,401 ) (2.6 )% Share-based compensation 1,768 (0.3 )% 968 1.6 % 189 0.2 % Executive compensation (761 ) 0.1 % 3,140 5.3 % 1,552 1.7 % Domestic manufacturing deduction (1,286 ) 0.2 % (1,422 ) (2.4 )% (679 ) (0.7 )% Other permanent book/tax differences (258 ) — % 2,003 3.4 % 170 0.2 % Provision for uncertain tax positions 337 — % 184 0.3 % 952 1.1 % Revision of prior years’ estimates (792 ) 0.1 % 859 1.5 % 664 0.7 % Taiwan Rural Area Investment Tax Credit — — % (2,134 ) (3.6 )% — — % Other, net 842 (0.1 )% 246 0.4 % 24 — % Valuation allowance 108,758 (18.9 )% — — % — — % (Benefit from) provision for income taxes $ (104,294 ) 18.1 % $ 20,371 34.3 % $ 33,206 36.7 %
Schedule of Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities are as follows (in thousands): December 31, 2016 2015 Deferred tax assets: Accrued expenses $ 114,825 $ 83,414 Inventory reserves 15,873 9,585 Net operating loss carryforwards 2,302 38 Depreciation and amortization 651 362 Acquired product rights and intangibles 128,401 20,912 Capitalized legal fees 10,231 7,352 Credit carryforwards 8,453 6,149 Share based compensation expense 6,371 5,471 Other 525 389 Deferred tax assets $ 287,632 $ 133,672 Deferred tax liabilities: Tax depreciation and amortization in excess of book amounts $ 5,428 $ 7,367 Acquired product rights and intangibles 95,517 188,018 Deferred manufacturing costs 64 65 Derivative 6,192 8,894 Other 1,807 1,783 Deferred tax liabilities $ 109,008 $ 206,127 Deferred tax assets (liabilities), net $ 178,624 $ (72,455 ) Valuation allowance (108,758 ) — Deferred tax assets (liabilities), net after valuation allowance $ 69,866 $ (72,455 )
Schedule of Unrecognized Tax Benefits Roll Forward	A rollforward of unrecognized tax benefits for the years ended December 31, 2016 , 2015 and 2014 is as follows (in thousands): Years Ended December 31, 2016 2015 2014 Unrecognized tax benefits beginning of year $ 5,680 $ 6,517 $ 5,292 Gross change for current year positions 549 1,079 1,089 Gross change for prior period positions 1,318 (673 ) 310 Gross change due to Tower Acquisition — 1,037 — Decrease due to settlements and payments (1,122 ) (2,280 ) (174 ) Unrecognized tax benefits end of year $ 6,425 $ 5,680 $ 6,517

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease payments under the non-cancelable operating leases are as follows (in thousands): Years ending December 31, 2017 $ 5,439 2018 5,470 2019 3,682 2020 2,270 2021 2,056 Thereafter 11,274 Total minimum lease payments $ 30,191

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The tables below present segment information reconciled to total Company financial results, with segment operating income or loss including gross profit less direct research and development expenses and direct selling expenses as well as any litigation settlements, to the extent specifically identified by segment (in thousands): Year Ended December 31, 2016 Impax Impax Corporate Total Revenues, net $ 606,320 $ 218,109 $ — $ 824,429 Cost of revenues 417,316 69,583 — 486,899 Cost of revenues impairment charges 464,319 24,313 — $ 488,632 Selling, general and administrative 20,508 61,448 119,874 $ 201,830 Research and development 61,980 18,486 — 80,466 In-process research and development impairment charges 27,765 25,200 — $ 52,965 Patent litigation 829 6,990 — 7,819 (Loss) income before income taxes $ (386,397 ) $ 12,089 $ (202,017 ) $ (576,325 ) Year Ended December 31, 2015 Impax Impax Corporate Total Revenues, net $ 710,932 $ 149,537 $ — $ 860,469 Cost of revenues 442,742 58,020 — 500,762 Cost of revenues impairment charges 7,303 — — 7,303 Selling, general and administrative 29,641 52,427 119,219 $ 201,287 Research and development 52,478 18,144 — 70,622 In-process research and development impairment charges 6,360 — — 6,360 Patent litigation 2,942 1,625 — 4,567 Income (loss) before income taxes $ 169,466 $ 19,321 $ (129,419 ) $ 59,368 Year Ended December 31, 2014 Impax Impax Corporate Total Revenues, net $ 549,082 $ 46,967 $ — $ 596,049 Cost of revenues 257,583 22,937 — 280,520 Cost of revenues impairment charges 2,876 — — 2,876 Selling, general and administrative 17,144 43,307 78,939 $ 139,390 Research and development 40,927 37,715 — 78,642 Patent litigation 5,333 472 — 5,805 Income (loss) before income taxes $ 225,219 $ (57,464 ) $ (77,196 ) $ 90,559
Schedule of Product Information	The Company’s significant product families, as determined based on net revenue, and their percentage of the Company’s consolidated net revenue for each of the years ended December 31, 2016, 2015 and 2014 are set forth in the tables below (in thousands): Segment Product Family 2016 $ % Impax Generics Epinephrine Auto-Injector family (generic Adrenaclick®) $ 91,572 11 % (1) Impax Specialty Pharma Rytary® Family $ 73,833 9 % (2) Impax Generics Oxymorphone HCI ER family $ 72,661 9 % (3) Impax Generics Diclofenac Sodium Gel family (generic Solaraze®) $ 69,035 8 % (4) Impax Generics Fenofibrate family $ 64,001 8 % (5) Segment Product Family 2015 $ % Impax Generics Diclofenac Sodium Gel family (generic Solaraze®) $ 148,610 17 % (4) Impax Generics Amphetamine Salts ER (CII) family (generic Adderall®) $ 106,252 12 % (6) Impax Generics Fenofibrate family $ 93,458 11 % (5) Impax Generics Metaxalone family (generic Skelaxin) $ 69,876 8 % (7) Impax Generics Oxymorphone HCI ER family $ 59,175 7 % (3) Segment Product Family 2014 $ % Impax Generics Amphetamine Salts ER (CII) family (generic Adderall®) $ 115,411 19 % (6) Impax Generics Fenofibrate family $ 111,550 19 % (5) Impax Generics Sevelamer Carbonate family (generic Renvela®) $ 81,976 14 % (8) Impax Generics Oxymorphone HCI ER family $ 65,323 11 % (3) Impax Generics Digoxin family (generic Lanoxin) $ 49,702 8 % (9) (1) Epinephrine Auto-Injector (generic Adrenaclick®) product family consists of the injector product in two different strengths and is indicated in the emergency treatment of allergic reactions (Type 1) including anaphylaxis. (2) Rytary® product family consists of the capsules product in four different strengths and is indicated for the treatment of Parkinson’s disease, post-encephalitic parkinsonism, and parkinsonism that may follow carbon monoxide intoxication or manganese intoxication. (3) Oxymorphone Hydrochloride Extended Release product family consists of the oxymorphone hydrochloride extended release tablet formulation of the product in seven different strengths and is indicated for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. (4) Diclofenac Sodium Gel (generic Solaraze®) product family consists of one product strength and is indicated for the topical treatment of actinic keratosis. (5) Fenofibrate product family consists of products in both capsule and tablet dosage forms in seven different strengths and is indicated as adjunctive therapy to diet to reduce elevated LDL-C, Total-C, Triglycerides and Apo B, and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia (Fredrickson Types IIa and IIb); and also indicated as adjunctive therapy to diet for treatment of adult patients with hypertriglyceridemia (Fredrickson Types IV and V hyperlipidemia). (6) Amphetamine Salts extended release capsules, CII (generic Adderall XR®) product family consists of the capsules product in six different strengths and is indicated for the treatment of attention deficit hyperactivity disorder. (7) Metaxalone (generic Skelaxin®) product family consists of the tablet product in two different strengths and is indicated as an adjunct to rest, physical therapy, and other measures for the relief of discomforts associated with acute, painful musculoskeletal conditions. (8) Sevelamar Carbonate (generic Renvela®) product family consists of the tablet product and is indicated for the control of serum phosphorous in patients with chronic kidney disease on dialysis. (9) Digoxin (generic Lanoxin®) product family consists of the tablet product in two different strengths and is indicated for the treatment of mild to moderate heart failure in adults, to increase myocardial contractility in pediatric patients with heart failure and the control of ventricular response rate in adult patients with chronic atrial fibrillation.

SUPPLEMENTARY FINANCIAL INFOR50

SUPPLEMENTARY FINANCIAL INFORMATION (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Selected financial information for the quarterly periods noted is as follows: 2016 Quarters Ended (in thousands, except share and per share amounts) March 31 June 30 September 30 December 31 Revenue: Impax Generics sales, gross $ 611,281 $ 531,226 $ 651,372 $ 687,462 Less: Chargebacks 217,354 197,864 254,681 310,961 Rebates 185,476 178,097 163,340 193,838 Product returns 11,913 10,237 16,151 7,920 Other credits 29,354 25,075 48,607 38,729 Impax Generics sales, net 167,184 119,953 168,593 136,014 Rx Partner 2,835 1,669 6,672 3,163 Other Revenues 60 73 55 49 Impax Generics revenues, net 170,079 121,695 175,320 139,226 Impax Specialty Pharma sales, gross 82,073 81,254 77,841 108,149 Less: Chargebacks 6,111 8,826 5,439 15,253 Rebates 2,853 2,430 3,556 3,016 Product returns 1,508 1,279 574 2,802 Other credits 16,172 17,824 15,683 27,854 Impax Specialty Pharma sales, net 55,429 50,895 52,589 59,224 Other Revenues — — — (28 ) Impax Specialty Pharma revenues, net 55,429 50,895 52,589 59,196 Total revenues 225,508 172,590 227,909 198,422 Gross profit (loss) 102,590 72,984 (165,426 ) (161,250 ) Net loss $ (10,408 ) $ (2,701 ) $ (179,337 ) $ (279,585 ) Net loss per common share: Basic $ (0.15 ) $ (0.04 ) $ (2.51 ) $ (3.91 ) Diluted $ (0.15 ) $ (0.04 ) $ (2.51 ) $ (3.91 ) Weighted-average common shares outstanding: Basic 70,665,394 71,100,123 71,331,247 71,487,071 Diluted 70,665,394 71,100,123 71,331,247 71,487,071 Quarterly computations of net (loss) income per share amounts are made independently for each quarterly reporting period, and the sum of the per share amounts for the quarterly reporting periods may not equal the per share amounts for the year-to-date reporting period. 2015 Quarters Ended (in thousands, except share and per share amounts) March 31 June 30 September 30 December 31 Revenue: Impax Generics sales, gross $ 355,321 $ 572,079 $ 565,261 $ 705,574 Less: Chargebacks 126,607 228,977 212,588 239,920 Rebates 83,130 140,340 141,646 200,721 Product returns 6,427 7,528 6,276 8,888 Other credits 13,198 23,961 26,295 31,889 Impax Generics sales, net 125,959 171,273 178,456 224,156 Rx Partner 2,239 2,579 1,957 2,532 Other Revenues 543 827 253 158 Impax Generics revenues, net 128,741 174,679 180,666 226,846 Impax Specialty Pharma sales, gross 29,219 65,269 69,286 86,274 Less: Chargebacks 5,561 4,452 5,893 9,159 Rebates 1,418 1,318 1,078 1,991 Product returns 2,620 6,763 2,824 2,641 Other credits 5,492 13,461 19,285 20,866 Impax Specialty Pharma sales, net 14,128 39,275 40,206 51,617 Other Revenues 227 228 227 3,629 Impax Specialty Pharma revenues, net 14,355 39,503 40,433 55,246 Total revenues 143,096 214,182 221,099 282,092 Gross profit 59,234 84,851 93,549 114,770 Net (loss) income $ (6,333 ) $ (1,852 ) $ 35,755 $ 11,427 Net (loss) income per common share: Basic $ (0.09 ) $ (0.03 ) $ 0.51 $ 0.16 Diluted $ (0.09 ) $ (0.03 ) $ 0.49 $ 0.16 Weighted-average common shares outstanding: Basic 68,967,875 69,338,789 69,820,348 70,416,757 Diluted 68,967,875 69,338,789 72,777,746 72,041,760

DESCRIPTION OF BUSINESS (Detail

DESCRIPTION OF BUSINESS (Details) $ in Millions	Jul. 14, 2016	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)segmentsales_channelfacilitypropertyproduct	Dec. 19, 2016USD ($)	Jun. 30, 2014USD ($)
Business Acquisition [Line Items]
Number of reportable segments | segment			2
Number of operating segments | segment			2
Number of sales channels | sales_channel			4
Number of internally developed branded pharmaceutical product candidate | product			1
Number of other branded products | product			4
Senior Vice President | Severance Charges and Accelerated Equity Expense
Business Acquisition [Line Items]
Employee-related liabilities					$ 0.9
President
Business Acquisition [Line Items]
Employment agreement, renewal period	1 year
Written notice, non-renewal employment agreement, period (at least)	90 days
President | Termination Benefits and Payments
Business Acquisition [Line Items]
Other labor-related expenses		$ 1.9
President, Chief Executive Officer, and Board of Directors Member | Severance Charges and Accelerated Equity Expense
Business Acquisition [Line Items]
Employee-related liabilities				$ 5.4
President, Chief Executive Officer, and Board of Directors Member | Severance Charges
Business Acquisition [Line Items]
Employee-related liabilities			$ 4.9
President, Chief Executive Officer, and Board of Directors Member | Accelerated Equity Expense
Business Acquisition [Line Items]
Employee-related liabilities			$ 0.5
California
Business Acquisition [Line Items]
Number of owned properties | property			5
Hayward California
Business Acquisition [Line Items]
Number of leased properties | facility			2

BUSINESS ACQUISITIONS (Details)

BUSINESS ACQUISITIONS (Details)	Aug. 18, 2016USD ($)	Aug. 03, 2016USD ($)	Mar. 09, 2015USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)position	Dec. 31, 2014USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, contingent consideration, liability (up to)				$ 31,048,000								$ 31,048,000
Rebates and chargebacks				14,813,000				$ 0				14,813,000	$ 0
Cost of revenues impairment charges												488,632,000	7,303,000	$ 2,876,000
Total revenues				198,422,000	$ 227,909,000	$ 172,590,000	$ 225,508,000	282,092,000	$ 221,099,000	$ 214,182,000	$ 143,096,000	824,429,000	860,469,000	596,049,000
Net (loss) income				(279,585,000)	(179,337,000)	(2,701,000)	(10,408,000)	11,427,000	35,755,000	(1,852,000)	(6,333,000)	(472,031,000)	38,997,000	57,353,000
Goodwill				207,329,000				210,166,000				207,329,000	210,166,000
Impax Specialty Pharma
Acquired Finite-Lived Intangible Assets [Line Items]
Total revenues				59,196,000	52,589,000	50,895,000	55,429,000	55,246,000	40,433,000	39,503,000	14,355,000	218,109,000	149,537,000	46,967,000
Goodwill				59,700,000								59,700,000
Impax Generics
Acquired Finite-Lived Intangible Assets [Line Items]
Total revenues				139,226,000	175,320,000	$ 121,695,000	$ 170,079,000	226,846,000	$ 180,666,000	$ 174,679,000	$ 128,741,000	606,320,000	710,932,000	549,082,000
Goodwill				147,600,000								147,600,000
Teva Transaction
Acquired Finite-Lived Intangible Assets [Line Items]
Payments to acquire businesses, gross		$ 585,800,000
Business combination, acquisition related costs												3,700,000
Acquired balances	$ 42,400,000
Chargeback and reserve payments												27,600,000
Rebates and chargebacks				14,800,000								14,800,000
Cost of revenues impairment charges					$ 251,000,000							308,400,000
Total revenues												44,800,000
Net (loss) income												(244,700,000)
Business combination, consideration transferred		$ 615,900,000
Tower and Lineage
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, acquisition related costs			$ 10,900,000										12,200,000
Business combination, consideration transferred			691,300,000
Business combination, cash acquired and other working capital adjustments			41,500,000
Severance costs													$ 2,400,000
Business combination, number of positions eliminated | position													10
Cash acquired from acquisition			41,500,000
Goodwill			179,755,000
Severance and retention costs													$ 3,400,000
Tower and Lineage | Fair Value Adjustment to Inventory
Acquired Finite-Lived Intangible Assets [Line Items]
Assets, fair value adjustment													6,100,000	$ 6,100,000
Tower and Lineage | Impax Specialty Pharma
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill			59,700,000
Tower and Lineage | Impax Generics
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill			$ 120,100,000
Marketed product rights | Teva Transaction
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value inputs, discount rate		6.70%
Marketed product rights | Tower and Lineage
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value inputs, discount rate			15.00%
Acquired IPR&D product rights | Tower and Lineage
Acquired Finite-Lived Intangible Assets [Line Items]
Fair value inputs, discount rate			16.00%
General and Administrative Expense | Teva Transaction
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, acquisition related costs												3,100,000	600,000
General and Administrative Expense | Tower and Lineage
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, acquisition related costs													6,700,000
Term Loan | Tower and Lineage | Wells Fargo Bank, N.A.
Acquired Finite-Lived Intangible Assets [Line Items]
Line of credit facility, commitment fee amount													2,300,000
Long-term debt								$ 435,000,000					$ 435,000,000
Revolving Credit Facility | Term Loan
Acquired Finite-Lived Intangible Assets [Line Items]
Long-term debt				$ 384,900,000								$ 384,900,000
Revolving Credit Facility | Term Loan | Teva Transaction
Acquired Finite-Lived Intangible Assets [Line Items]
Proceeds from issuance of debt		$ 400,000,000
Maximum | Teva Transaction
Acquired Finite-Lived Intangible Assets [Line Items]
Business combination, contingent consideration, liability (up to)		$ 40,000,000

BUSINESS ACQUISITIONS - Purchas

BUSINESS ACQUISITIONS - Purchase Price Allocation - Teva (Details) $ in Thousands	Aug. 03, 2016USD ($)
Business Acquisition [Line Items]
Completion of Teva Transaction August 3, 2016	$ 30,100
Teva Transaction
Business Acquisition [Line Items]
Purchase price per the APAs	575,800
Upfront payment pursuant to Termination Agreement	10,000
Total cash consideration	585,800
Completion of Teva Transaction August 3, 2016	30,100
Total consideration transferred	615,900
Teva Transaction | Maximum
Business Acquisition [Line Items]
Business combination, contingent consideration arrangements, range of outcomes, value, high (up to)	$ 40,000

BUSINESS ACQUISITIONS - Fair Va

BUSINESS ACQUISITIONS - Fair Values of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed - Teva (Details) - Teva Transaction $ in Thousands	Aug. 03, 2016USD ($)
Business Acquisition [Line Items]
Intangible assets	$ 613,032
Inventory - raw materials	2,868
Total assets acquired	$ 615,900

BUSINESS ACQUISITIONS - Acquire

BUSINESS ACQUISITIONS - Acquired Intangible Assets - Teva (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Aug. 03, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Marketed product rights	$ 525,072			$ 460,875
Acquired IPR&D product rights	234,978			224,240
Total intangible assets, net	$ 620,466			602,020
Acquired finite-lived intangible assets, weighted average useful life	8 years 2 months
Teva Transaction
Business Acquisition [Line Items]
Total intangible assets, net		$ 613,000	$ 613,032
Acquired IPR&D product rights | Teva Transaction
Business Acquisition [Line Items]
Acquired IPR&D product rights		157,500	157,503
Reacquired In Process Research and Development | Teva Transaction
Business Acquisition [Line Items]
Acquired IPR&D product rights			78,900
Marketed product rights
Business Acquisition [Line Items]
Marketed product rights	$ 524,733			$ 458,675
Marketed product rights | Teva Transaction
Business Acquisition [Line Items]
Marketed product rights			$ 455,529
Total intangible assets, net		$ 455,500
Acquired finite-lived intangible assets, weighted average useful life	19 years

BUSINESS ACQUISITIONS - Unaudit

BUSINESS ACQUISITIONS - Unaudited Condensed Pro Forma Consolidated Statements of Operations - Teva (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Selling, general and administrative	$ 201,830	$ 201,287	$ 139,390
Teva Transaction
Business Acquisition [Line Items]
Total revenues	927,593	1,025,598
Net (loss) income	(450,190)	$ 70,057
Acquisition-related Costs
Business Acquisition [Line Items]
Selling, general and administrative	$ 3,100

BUSINESS ACQUISITIONS - Fair 57

BUSINESS ACQUISITIONS - Fair Values of Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed - Tower (Details) - USD ($) $ in Thousands	Mar. 09, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Goodwill		$ 207,329	$ 210,166
Cash paid, net of cash acquired		$ 585,800	$ 691,348	$ 0
Tower and Lineage
Restructuring Cost and Reserve [Line Items]
Accounts receivable	$ 56,851
Inventory	31,259
Income tax receivable and other prepaid expenses	2,407
Property, plant and equipment	27,540
Intangible assets	632,600
Goodwill	179,755
Deferred income taxes	37,041
Other non-current assets	3,844
Total assets acquired	975,297
Current liabilities	67,584
Deferred tax liabilities	210,005
Other non-current liabilities	6,360
Total liabilities assumed	283,949
Cash paid, net of cash acquired	691,348
Cash acquired from acquisition	41,500
Acquired accounts receivable, fair value	56,900
Acquired accounts receivable, estimated allowance for doubtful accounts	9,000
Business combination, consideration transferred	691,300
Tower and Lineage | Discontinued Operations, Held-for-sale
Restructuring Cost and Reserve [Line Items]
Intangible assets	$ 4,000

BUSINESS ACQUISITIONS - Acqui58

BUSINESS ACQUISITIONS - Acquired Intangible Assets - Tower (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Amortized intangible assets:
Weighted-Average Estimated Useful Life (years)	8 years 2 months
Tower and Lineage
Amortized intangible assets:
Estimated Fair Value	$ 632,600
Marketed product rights | Tower and Lineage
Amortized intangible assets:
Estimated Fair Value	$ 381,100
Weighted-Average Estimated Useful Life (years)	13 years
Royalty rights | Tower and Lineage
Amortized intangible assets:
Estimated Fair Value	$ 80,800
Weighted-Average Estimated Useful Life (years)	12 years
Acquired IPR&D product rights | Tower and Lineage
Amortized intangible assets:
Estimated Fair Value	$ 170,700

BUSINESS ACQUISITIONS - Unaud59

BUSINESS ACQUISITIONS - Unaudited Condensed Pro Forma Consolidated Statements of Operations - Tower (Details) - Tower and Lineage - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Total revenues	$ 892,906	$ 819,838
Net income	$ 54,285	$ 30,838

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details)	Dec. 31, 2016
Prohealth Biotech
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	57.54%

SUMMARY OF SIGNIFICANT ACCOUN61

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Feb. 17, 2017USD ($)	May 02, 2016USD ($)	Aug. 07, 2015USD ($)	Dec. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)customer	Dec. 31, 2015USD ($)customerproduct	Dec. 31, 2014USD ($)customerproduct
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of largest customers | customer						5	5	5
Number of products | product							10	10
Net book value at time of sale				$ 385,488,000		$ 385,488,000	$ 377,780,000
Accounts receivable, net, current				257,368,000		257,368,000	324,451,000
Accounts receivable, increase (decrease)						(26,771,000)	121,110,000	$ 33,497,000
Accounts receivable, gross, current				780,865,000		780,865,000	738,730,000
Accrued expenses				231,011,000		231,011,000	204,711,000
Reserve for Turing receivable						40,312,000	0	0
Goodwill				207,329,000		207,329,000	210,166,000
Goodwill, impairment						$ 0	0
Product return period, prior to expiration date						6 months
Product return period, following the expiration date						12 months
Shipping and handling fees						$ 3,700,000	2,300,000	2,400,000
Foreign currency translation losses						2,607,000	(4,454,000)	$ (7,149,000)
Impax Specialty Pharma
Accounts, Notes, Loans and Financing Receivable [Line Items]
Goodwill				59,700,000		59,700,000
Impax Generics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Goodwill				147,600,000		$ 147,600,000
Building
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						40 years
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash discount, discount rate						2.00%
Cash discount, invoice terms						30 days
Minimum | Building Improvements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						10 years
Minimum | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						8 years
Minimum | Office Furniture and Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						4 years
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cash discount, discount rate						3.00%
Cash discount, invoice terms						90 days
Maximum | Building Improvements
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						15 years
Maximum | Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						10 years
Maximum | Office Furniture and Equipment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Property, plant and equipment, useful life						10 years
Impax Laboratories, Inc vs Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loss contingency, damages sought, value		$ 35,700,000
Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, increase (decrease)						$ 7,400,000
Accounts receivable, gross, current				40,300,000		40,300,000
Accounts receivable, payments made on behalf of counterparty						33,500,000
Reserve for Turing receivable					$ 48,000,000	48,000,000
Changes to receivable or the related reserve				7,700,000		7,700,000
Turing Pharmaceuticals AG | Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, payments made on behalf of counterparty	$ 33,500,000
Changes to receivable or the related reserve	$ 7,700,000
Receivable from Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net, current							$ 40,600,000
Chargeback and Medical Rebates | Overdue Unpaid Invoices from Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, estimated balance						35,700,000
Daraprim
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrued expenses				$ 6,800,000		$ 6,800,000
Distribution Rights | Geographic Distribution, Domestic | Daraprim
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from sale on intangible assets			$ 55,500,000
Net book value at time of sale			9,300,000
Gain on sale of intangible asset			$ 45,600,000

SUMMARY OF SIGNIFICANT ACCOUN62

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Percentage of Total Accounts Receivable and Gross Revenues (Details) - Customer Concentration Risk	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	96.00%	94.50%	92.10%
Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	91.30%	89.00%	82.20%
Customer 1 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	36.20%	52.40%	36.90%
Customer 1 | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	40.10%	45.60%	36.00%
Customer 2 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	35.60%	24.80%	28.20%
Customer 2 | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	28.40%	21.70%	20.70%
Customer 3 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	20.50%	14.40%	19.60%
Customer 3 | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	20.10%	18.80%	19.30%
Customer 4 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	1.70%	0.70%	0.60%
Customer 4 | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	1.20%	1.10%	1.80%
Customer 5 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	0.70%	0.10%	1.60%
Customer 5 | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	1.10%	1.40%	2.50%
Customer 6 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	0.50%	1.00%	1.80%
Customer 6 | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	0.40%	0.40%	1.90%
Customer 7 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	0.50%	0.60%	1.70%
Customer 8 | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	0.30%	0.50%	1.70%
Total | Percent of Total Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage	94.70%	93.30%	88.20%
Total | Percent of Gross Revenues
Concentration Risk [Line Items]
Concentration risk, percentage	90.90%	88.60%	80.40%

RECENT ACCOUNTING PRONOUNCEME63

RECENT ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Jan. 01, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Future minimum lease payments		$ 30,191
Retained Earnings | Subsequent Event | Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 1,400

FAIR VALUE MEASUREMENT AND FI64

FAIR VALUE MEASUREMENT AND FINANCIAL INSTRUMENTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Aug. 03, 2016	Dec. 31, 2015
Assets
Deferred Compensation Plan assets	$ 37,382,000		$ 30,726,000
Liabilities
Term Loan Facility due August 2021, current portion, Carrying Amount	17,719,000		0
Term Loan Facility due August 2021, current portion, Fair Value	20,000,000
Term Loan Facility due August 2021, long-term portion, Carrying Amount	813,545,000		424,595,000
Term Loan Facility due August 2021, long-term portion, Fair Value	375,000,000
Deferred Compensation Plan liabilities	28,582,000		25,581,000
Contingent consideration	31,048,000
Contingent consideration, Fair Value	31,048,000
Increase in value from change in 5% probability of successful product launch	1,600,000
Decrease in value from change in 5% probability of successful product launch	1,600,000
Decrease in value from decrease in competitors	13,400,000
Increase in value from increase in competitors	5,100,000
Teva Transaction | Maximum
Liabilities
Contingent consideration		$ 40,000,000
Maximum contingent consideration payments		$ 40,000,000
2% Convertible senior notes due June 2022
Liabilities
2% Convertible senior notes due June 2022, Carrying Amount	600,000,000		600,000,000
2% Convertible senior notes due June 2022, Fair Value	469,800,000		602,250,000
Quoted Prices in Active Markets (Level 1)
Assets
Deferred Compensation Plan assets	0		0
Liabilities
Term Loan Facility due August 2021, current portion, Fair Value	0
Term Loan Facility due August 2021, long-term portion, Fair Value	0
Deferred Compensation Plan liabilities	0		0
Contingent consideration, Fair Value	0
Quoted Prices in Active Markets (Level 1) | 2% Convertible senior notes due June 2022
Liabilities
2% Convertible senior notes due June 2022, Fair Value	$ 469,800,000		$ 602,250,000
Debt instrument, interest rate, stated percentage	2.00%		2.00%
Significant Other Observable Inputs (Level 2)
Assets
Deferred Compensation Plan assets	$ 37,382,000		$ 30,726,000
Liabilities
Term Loan Facility due August 2021, current portion, Fair Value	20,000,000
Term Loan Facility due August 2021, long-term portion, Fair Value	375,000,000
Deferred Compensation Plan liabilities	28,582,000		25,581,000
Contingent consideration, Fair Value	0
Significant Other Observable Inputs (Level 2) | 2% Convertible senior notes due June 2022
Liabilities
2% Convertible senior notes due June 2022, Fair Value	0		0
Significant Unobservable Inputs (Level 3)
Assets
Deferred Compensation Plan assets	0		0
Liabilities
Term Loan Facility due August 2021, current portion, Fair Value	0
Term Loan Facility due August 2021, long-term portion, Fair Value	0
Deferred Compensation Plan liabilities	0		0
Contingent consideration, Fair Value	31,048,000
Significant Unobservable Inputs (Level 3) | 2% Convertible senior notes due June 2022
Liabilities
2% Convertible senior notes due June 2022, Fair Value	0		$ 0
Term Loan
Liabilities
Term Loan Facility due August 2021, current portion, Carrying Amount	20,000,000
Term Loan Facility due August 2021, long-term portion, Carrying Amount	$ 375,000,000

FAIR VALUE MEASURMENT AND FINAN

FAIR VALUE MEASURMENT AND FINANCIAL INSTRUMENTS - Fair Value Changes Unobservable Inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration. beginning balance	$ 0
Change in Fair Value Included in Earnings	948
Contingent consideration. ending balance	31,048
Teva Transaction
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Completion of Teva Transaction August 3, 2016	$ 30,100

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investments Schedule [Abstract]
Proceeds from maturities of short-term investments	$ 200,100,000	$ 0	$ 200,064,000	$ 395,404,000
Short-term investments		$ 0	$ 0

ACCOUNTS RECEIVABLE - Compositi

ACCOUNTS RECEIVABLE - Composition of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 780,865		$ 780,865	$ 738,730
Less: Rebate reserve	(277,800)		(277,800)	(265,229)
Less: Chargeback reserve	(154,686)		(154,686)	(102,630)
Less: Distribution services reserve	(18,318)		(18,318)	(12,576)
Less: Discount reserve	(17,957)		(17,957)	(18,657)
Less: Uncollectible accounts reserve	(54,736)		(54,736)	(15,187)
Accounts receivable, net	257,368		257,368	324,451
Reserve for Turing receivable			40,312	0	$ 0
Receivable from Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	40,300		40,300	$ 40,600
Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	40,300		40,300
Reserve for Turing receivable		$ 48,000	48,000
Changes to receivable or the related reserve	$ 7,700		$ 7,700

ACCOUNTS RECEIVABLE - Roll Forw

ACCOUNTS RECEIVABLE - Roll Forward of the Rebate Reserves Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 265,229
Ending balance	277,800	$ 265,229
Rebate reserve
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	265,229	88,812	$ 88,449
Acquired balances	0	75,447	0
Provision recorded during the period for Impax Generics rebates	740,758	571,642	260,747
Credits issued during the period for Impax Generics rebates	(728,187)	(470,672)	(260,384)
Ending balance	$ 277,800	$ 265,229	$ 88,812

ACCOUNTS RECEIVABLE - Roll Fo69

ACCOUNTS RECEIVABLE - Roll Forward of the Chargeback Reserves Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 102,630
Ending balance	154,686	$ 102,630
Chargeback reserve
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	102,630	43,125	$ 37,066
Acquired balances	0	24,532	0
Provision recorded during the period	1,014,108	833,157	487,377
Credits issued during the period	(962,052)	(798,184)	(481,318)
Ending balance	$ 154,686	$ 102,630	$ 43,125

INVENTORY - Net of Carrying Val

INVENTORY - Net of Carrying Value Reserves (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 53,808	$ 52,366
Work in-process	3,280	4,417
Finished goods	130,879	82,311
Total inventory	187,967	139,094
Less: Non-current inventory	12,737	13,512
Total inventory-current	$ 175,230	$ 125,582

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Inventory [Line Items]
Inventory valuation reserves	$ 38	$ 24.1
Pre-launch inventory selling period	3 months
Unapproved Inventory
Inventory [Line Items]
Unapproved product inventory net	$ 29.2	$ 8.7
Raw Materials
Inventory [Line Items]
Inventory turnover period, minimum life	3 years
Inventory turnover period, maximum life	5 years
Finished Goods
Inventory [Line Items]
Inventory turnover period, maximum life	2 years

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Net (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Land	$ 5,603	$ 5,773
Buildings and improvements	174,303	165,322
Equipment	143,818	135,998
Office furniture and equipment	15,767	14,548
Construction-in-progress	50,191	25,659
Property, plant and equipment, gross	389,682	347,300
Less: Accumulated depreciation	(156,310)	(133,144)
Property, plant and equipment, net	$ 233,372	$ 214,156

PROPERTY, PLANT AND EQUIPMENT73

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation	$ 29.1	$ 25.5	$ 20.4
Property, plant, and equipment, unpaid vendor invoices, excluded from statement of cash flows	$ 4	$ 4.5	$ 1.9

INTANGIBLE ASSETS AND GOODWIL74

INTANGIBLE ASSETS AND GOODWILL - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Amortized intangible assets:
Gross Carrying Value	$ 525,072		$ 460,875
Accumulated Amortization	(139,584)		(83,095)
Intangible Assets, Net	385,488		377,780
Non-amortized intangible assets:
Gross Carrying Value	234,978		224,240
Total intangible assets, gross	760,050		685,115
Total intangible assets, net	620,466		602,020
Acquired IPR&D product rights
Non-amortized intangible assets:
Gross Carrying Value	232,576		145,640
Acquired future royalty rights
Non-amortized intangible assets:
Gross Carrying Value	2,402	$ 70,800	78,600
Marketed product rights
Amortized intangible assets:
Gross Carrying Value	524,733		458,675
Accumulated Amortization	(139,245)		(82,906)
Intangible Assets, Net	385,488		375,769
Royalties
Amortized intangible assets:
Gross Carrying Value	339		2,200
Accumulated Amortization	(339)		(189)
Intangible Assets, Net	$ 0		$ 2,011

INTANGIBLE ASSETS AND GOODWIL75

INTANGIBLE ASSETS AND GOODWILL (Details)	Aug. 03, 2016USD ($)product	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)product	Jun. 30, 2016USD ($)product	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 09, 2015USD ($)
Amortized intangible assets:
Acquired finite-lived intangible assets, weighted average useful life							8 years 2 months
Carrying value		$ 234,978,000				$ 224,240,000	$ 234,978,000	$ 224,240,000
Intangible assets, gross		525,072,000				460,875,000	525,072,000	460,875,000
Intangible asset impairment charges		253,900,000	$ 34,200,000				541,597,000	13,664,000	$ 2,876,000
Intangible assets, net		620,466,000				602,020,000	620,466,000	602,020,000
Number of products launched | product			2
Indefinite-lived assets reclassified to finite-lived assets			$ 11,000,000
Cost of revenues impairment charges							488,632,000	7,303,000	2,876,000
Amortization of intangible assets							56,400,000	40,200,000	11,100,000
Goodwill		207,329,000				210,166,000	207,329,000	210,166,000
Goodwill, purchase accounting adjustments		1,100,000			$ 1,800,000
Goodwill, impairment							0	0
Impax Generics
Amortized intangible assets:
Goodwill		147,600,000					147,600,000
Impax Specialty Pharma
Amortized intangible assets:
Goodwill		59,700,000					59,700,000
Marketed product rights
Amortized intangible assets:
Intangible assets, gross		524,733,000				458,675,000	524,733,000	458,675,000
Finite-lived intangible assets, number of products impaired | product			3
Acquired IPR&D product rights
Amortized intangible assets:
Finite-lived intangible assets, number of products impaired | product	2
Third Party Partnered Marketed Product Rights
Amortized intangible assets:
Finite-lived intangible assets, number of products impaired | product			1
IPR&D Product Rights
Amortized intangible assets:
Carrying value		232,576,000				145,640,000	232,576,000	145,640,000
Acquired future royalty rights
Amortized intangible assets:
Carrying value		2,402,000	$ 70,800,000			78,600,000	2,402,000	78,600,000
Cost of Sales
Amortized intangible assets:
Intangible asset impairment charges		230,600,000		$ 1,500,000
Cost of Sales | Marketed product rights
Amortized intangible assets:
Intangible asset impairment charges			8,500,000
Cost of Sales | Acquired IPR&D product rights
Amortized intangible assets:
Intangible asset impairment charges			25,700,000
Research and Development Expense | Acquired IPR&D product rights
Amortized intangible assets:
Impairment of intangible assets, indefinite-lived		23,300,000		$ 1,000,000
Tower and Lineage
Amortized intangible assets:
Goodwill										$ 179,755,000
Tower and Lineage | Impax Generics
Amortized intangible assets:
Goodwill										120,100,000
Tower and Lineage | Impax Specialty Pharma
Amortized intangible assets:
Goodwill										$ 59,700,000
Tower and Lineage | Marketed product rights
Amortized intangible assets:
Finite-lived intangible assets, number of products impaired | product				2
Tower and Lineage | IPR&D Product Rights
Amortized intangible assets:
Indefinite-lived intangible assets, number of products impaired | product				1
Teva Transaction
Amortized intangible assets:
Intangible asset impairment charges		57,400,000				13,700,000		13,700,000
Intangible assets, net	$ 613,032,000		613,000,000
Cost of revenues impairment charges			251,000,000				$ 308,400,000
Teva Transaction | Marketed product rights
Amortized intangible assets:
Acquired finite-lived intangible assets, weighted average useful life							19 years
Intangible assets, gross	455,529,000
Intangible assets, net			455,500,000
Teva Transaction | Acquired IPR&D product rights
Amortized intangible assets:
Carrying value	$ 157,503,000		$ 157,500,000
Indefinite-lived intangible assets, asset ownership percent			50.00%
Indefinite-lived intangible assets, percent of gross profit paid out upon sale			50.00%
Teva Transaction | Cost of Sales
Amortized intangible assets:
Intangible asset impairment charges		53,700,000				7,300,000			$ 2,900,000
Cost of revenues impairment charges			$ 248,000,000
Teva Transaction | Research and Development Expense
Amortized intangible assets:
Cost of revenues impairment charges			$ 3,000,000
Teva Transaction | Research and Development Expense | Acquired IPR&D product rights
Amortized intangible assets:
Impairment of intangible assets, indefinite-lived		3,700,000				6,400,000
EMVERM | Marketed product rights
Amortized intangible assets:
Intangible assets, gross					86,300,000
Finite-lived intangible assets, useful life							9 years
EMVERM | Acquired IPR&D product rights
Amortized intangible assets:
Carrying value						82,800,000		82,800,000
Fair value						$ 82,800,000		$ 82,800,000
Anthelmintic | Cost of Sales
Amortized intangible assets:
Intangible asset impairment charges		24,300,000
Anthelmintic | Research and Development Expense | Acquired IPR&D product rights
Amortized intangible assets:
Impairment of intangible assets, indefinite-lived		12,000,000
Anthelmintic | Teva Transaction
Amortized intangible assets:
Intangible asset impairment charges		$ 36,300,000
Teva
Amortized intangible assets:
Milestone payments, capitalized					$ 3,500,000

INTANGIBLE ASSETS AND GOODWIL76

INTANGIBLE ASSETS AND GOODWILL - Expected Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 66,651
2,018	69,718
2,019	61,808
2,020	48,555
2,021	34,880
Thereafter	103,876
Intangible Assets, Net	$ 385,488	$ 377,780

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Aug. 18, 2016	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Payroll-related expenses		$ 37,986	$ 37,419
Product returns		72,888	48,950
Accrued shelf stock		7,032	6,619
Government rebates		72,063	91,717
Legal and professional fees		8,395	5,929
Income taxes payable		0	830
Physician detailing sales force fees		0	1,132
Interest payable		544	500
Estimated Teva and Allergan chargebacks and rebates		14,813	0
Other		17,290	11,615
Total accrued expenses		231,011	204,711
Teva Transaction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Estimated Teva and Allergan chargebacks and rebates		14,800
Acquired balances	$ 42,400
Chargeback and reserve payments		27,600
Turing Pharmaceuticals AG
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net		6,800	$ 40,600
Accounts receivable, payments made on behalf of counterparty		$ 33,500

ACCRUED EXPENSES - Product Retu

ACCRUED EXPENSES - Product Returns (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 48,950
Ending balance	72,888	$ 48,950
Returns reserve
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	48,950	27,174	$ 28,089
Acquired balances	0	11,364	0
Provision related to sales recorded in the period	52,383	43,967	12,016
Credits issued during the period	(28,445)	(33,555)	(12,931)
Ending balance	$ 72,888	$ 48,950	$ 27,174

DEBT (Details)

DEBT (Details)	Aug. 03, 2016USD ($)	Jun. 30, 2015USD ($)$ / shares	Jun. 30, 2015USD ($)$ / shares	Dec. 31, 2016USD ($)$ / shares	Jun. 30, 2015USD ($)$ / shares	Dec. 31, 2016USD ($)day$ / shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Aug. 02, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 09, 2015USD ($)
Debt Instrument [Line Items]
Long-term debt, current				$ 17,719,000		$ 17,719,000	$ 0
Long-term debt, excluding current maturities				813,545,000		813,545,000	424,595,000
Convertible debt, noncurrent				446,400,000		446,400,000	424,600,000
Proceeds from sale of convertible notes		$ 436,400,000				0	600,000,000	$ 0
Repayments of long-term debt						5,000,000	435,000,000	0
Cash paid for interest						18,139,000	15,365,000	17,000
Gains (losses) on extinguishment of debt						0	(16,903,000)	$ 0
Term Loan
Debt Instrument [Line Items]
Long-term debt, current				20,000,000		20,000,000
Long-term debt, excluding current maturities				375,000,000		375,000,000
Conversion Option
Debt Instrument [Line Items]
Derivative liability, fair value, gross liability		167,000,000	$ 167,000,000		$ 167,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity	$ 200,000,000								$ 100,000,000
Debt instrument, covenant, leverage ratio, maximum	5
Debt issuance costs, line of credit arrangements, gross				300,000		300,000
Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity	$ 400,000,000
Interest expense, debt				6,900,000
Debt instrument, increase, accrued interest				6,000,000
Accretion expense				900,000
Long-term debt				384,900,000		384,900,000
Long-term debt, current				17,700,000		17,700,000
Long-term debt, excluding current maturities				367,200,000		367,200,000
Debt instrument, periodic payment, principal						5,000,000
Outstanding principal				$ 395,000,000		395,000,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity	$ 12,500,000
Barclays Senior Credit Facilities
Debt Instrument [Line Items]
Debt instrument, unamortized discount		17,800,000	17,800,000		17,800,000
Barclays Senior Credit Facilities | Term Loan
Debt Instrument [Line Items]
Interest expense, debt					10,700,000
Accretion expense					900,000
Long-term debt											$ 435,000,000
Repayments of long-term debt		435,000,000
Cash paid for interest		1,400,000			9,800,000
Gains (losses) on extinguishment of debt		(16,900,000)
Debt instrument, fee amount										$ 2,300,000
Barclays Senior Credit Facilities | Revolver
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity											$ 50,000,000
Convertible Debt
Debt Instrument [Line Items]
Interest expense, debt						33,800,000	16,300,000
Accretion expense						$ 21,800,000	10,300,000
Debt instrument, face amount		$ 600,000,000	$ 600,000,000		$ 600,000,000
Debt instrument, interest rate, stated percentage		2.00%	2.00%	2.00%	2.00%	2.00%
Conversion of stock, conversion ratio			0.0157858
Debt instrument, convertible, conversion price (in dollars per share) | $ / shares		$ 63.35	$ 63.35	$ 63.35	$ 63.35	$ 63.35
Debt instrument, convertible, threshold trading days | day						20
Debt instrument, convertible, threshold consecutive trading days						30 days
Debt instrument, convertible, threshold percentage of stock price trigger						130.00%
Debt issuance costs, gross				$ 18,700,000		$ 18,700,000
Interest payable				$ 500,000		500,000	500,000
Cash paid for interest						$ 12,000,000	$ 6,000,000
Convertible Debt | Conversion Circumstance 2
Debt Instrument [Line Items]
Debt instrument, convertible, threshold trading days | day						5
Debt instrument, convertible, threshold consecutive trading days						10 days
Debt instrument, convertible, threshold percentage of stock price trigger						98.00%
London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, increase or decrease in basis spread	0.25%
Teva Transaction
Debt Instrument [Line Items]
Cash	$ 196,400,000
Teva Transaction | Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
Proceeds from issuance of debt	400,000,000
Debt issuance cost	11,000,000
Debt issuance costs, line of credit arrangements, gross	$ 800,000
Maximum | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.50%
Minimum | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage	0.375%

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)		2,000,000	2,000,000
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0
Common stock, shares authorized (in shares)		150,000,000	150,000,000
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		73,948,340	72,926,205
Common stock, outstanding (in shares)		73,704,611	72,682,476
Payment for call options		$ 0	$ 147,000,000	$ 0
Change in fair value of derivative asset and liability		$ 0	13,000,000
Convertible Debt
Class of Stock [Line Items]
Debt instrument, convertible, number of equity instruments (in shares)		600,000
Payment for call options		$ 147,000,000
Number of shares common stock per call option, ratio (in shares)		15.7858
Debt instrument, convertible, conversion price (in dollars per share)	$ 63.35	$ 63.35
Warrant
Class of Stock [Line Items]
Debt conversion, converted instrument, warrants or options issued (in shares)	9,470,000	9,471,000
Proceeds from warrant exercises	$ 88,300,000
Investment warrants, exercise price (in dollars per share)	$ 81.277
Adjustments to additional paid in capital, equity component of convertible debt			$ 21,000,000

STOCKHOLDERS' EQUITY - Common S

STOCKHOLDERS' EQUITY - Common Stock Reserved for Future Issuance (Details) - shares	Jun. 30, 2015	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Shares issued (in shares)		73,948,340	72,926,205
Total shares of common stock issued and reserved for issuance (in shares)		95,124,000
Warrant
Class of Stock [Line Items]
Stock options and warrants outstanding (in shares)		9,471,000
Warrant
Class of Stock [Line Items]
Conversion of Notes payable (in shares)	9,470,000	9,471,000
Employee Stock Option
Class of Stock [Line Items]
Stock options and warrants outstanding (in shares)		2,234,000

EARNINGS PER SHARE - Reconcilia

EARNINGS PER SHARE - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net (loss) income	$ (279,585)	$ (179,337)	$ (2,701)	$ (10,408)	$ 11,427	$ 35,755	$ (1,852)	$ (6,333)	$ (472,031)	$ 38,997	$ 57,353
Weighted average common shares outstanding (in shares)	71,487,071	71,331,247	71,100,123	70,665,394	70,416,757	69,820,348	69,338,789	68,967,875	71,147,397	69,640,417	68,185,552
Basic (loss) earnings per share (in dollars per share)	$ (3.91)	$ (2.51)	$ (0.04)	$ (0.15)	$ 0.16	$ 0.51	$ (0.03)	$ (0.09)	$ (6.63)	$ 0.56	$ 0.84
Add-back of interest expense on outstanding convertible notes payable, net of tax									$ 0	$ 0	$ 0
Adjusted net (loss) income									$ (472,031)	$ 38,997	$ 57,353
Weighted-average incremental shares related to assumed exercise of warrants and stock options, vesting of non-vested shares and ESPP share issuance (in shares)									0	2,387,000	2,344,000
Weighted-average incremental shares assuming conversion of outstanding notes payable (in shares)									0	0	0
Diluted weighted-average common shares outstanding (in shares)	71,487,071	71,331,247	71,100,123	70,665,394	72,041,760	72,777,746	69,338,789	68,967,875	71,147,397	72,027,344	70,530,349
Diluted net (loss) income per share (in dollars per share)	$ (3.91)	$ (2.51)	$ (0.04)	$ (0.15)	$ 0.16	$ 0.49	$ (0.03)	$ (0.09)	$ (6.63)	$ 0.54	$ 0.81

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	9,470	9,470
Convertible Debt Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	9,470	9,470
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2,230	1,700	900
Restricted Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	2,160	1,500

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 19, 2016	Apr. 29, 2016	Apr. 29, 2015	Oct. 22, 2014	Apr. 29, 2014	May 31, 2016	Dec. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, outstanding, number (in shares)							3,042,180	2,234,331	2,405,371	3,042,180	3,770,905
Share-based compensation arrangement by share-based payment award, options, outstanding, weighted average remaining contractual term								6 years 237 days
Share-based compensation arrangement by share-based payment award, options, exercisable, weighted average remaining contractual term								5 years 252 days
Share-based compensation arrangement by share-based payment award, options, outstanding, intrinsic value								$ 3.2
Share-based compensation arrangement by share-based payment award, options, exercisable, intrinsic value								$ 3.1
Share based compensation arrangement by share-based payment award equity instruments other than options vested and expected to vest outstanding, number (in shares)								1,912,345
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)								1,739,672
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized								$ 58.9
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition								2 years 75 days
Share-based compensation arrangement by share-based payment award, options, exercises in period, intrinsic value								$ 5.8	$ 33	$ 10.4
Dividend yield								0.00%	0.00%	0.00%
After tax share-based compensation effect on earnings per share, basic (in dollars per share)								$ 0.31	$ 0.20	$ 0.20
After tax share-based compensation effect on earnings per share, diluted (in dollars per share)								$ 0.31	$ 0.20	$ 0.20
Employee service share-based compensation, tax benefit from compensation expense								$ 9.6	$ 9.2	$ 6.9
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, exercised in period cashless basis, shares withheld for future exercise price (in shares)						19,022
Share-based compensation arrangement by share-based payment award, options, exercised in period cashless basis, proceeds due for future exercise price						$ 0.6
President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized					$ 7.6
President
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated compensation cost							$ 0.5
President, Chief Executive Officer, and Board of Directors Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated equity, vesting period	12 months
Minimum | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition					2 years
Accelerated Equity Expense | President, Chief Executive Officer, and Board of Directors Member
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated compensation cost								$ 0.5
4/29/2014 | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, fair value (in dollars per share)					$ 3.9
Stock Options And Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, expiration period								10 years
Accelerated equity, vesting period								4 years
Stock Options And Restricted Stock Awards | President
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated equity, vesting period				12 months
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number (in shares)							2,327,176	2,160,127	2,146,498	2,327,176	2,123,835
Share-based compensation arrangement by share-based payment award, equity instruments other than options, aggregate intrinsic value, outstanding								$ 28.6
Share-based compensation arrangement by share-based payment award, options, vested and expected to vest, outstanding, number (in shares)								1,978,038
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period (in shares)								893,190	930,159	796,966
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period, weighted average grant date fair value (in dollars per share)								$ 28.97	$ 22.64	$ 21.36
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period, fair value								$ 25.9	$ 21.1	$ 17
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period (in shares)								1,245,184	973,742	1,449,585
Restricted Stock | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period (in shares)					150,000
Restricted Stock | 4/29/2014 | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vested, percentage					33.33%
Restricted Stock | 4/29/2015 | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vested, percentage			33.33%
Restricted Stock | 4/29/2016 | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vested, percentage		33.33%
Restricted Stock | Withheld for Minimum Withholding Tax Purposes
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period (in shares)								355,423	370,449
Share-based compensation arrangement by share-based payment award, equity instruments other than options, vested in period, weighted average grant date fair value (in dollars per share)								$ 27.69	$ 40.48
Performance Shares | President and CEO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period (in shares)					375,000
Awards vested, percentage								50.00%	50.00%
The 1999 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares)								5,000,000
Share-based compensation arrangement by share-based payment award, options, outstanding, number (in shares)							30,438	938	10,938	30,438
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)								296,921
Amended and Restated 2002 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of additional shares authorized (in shares)								15,950,000
Share-based compensation arrangement by share-based payment award, options, outstanding, number (in shares)							3,006,367	2,233,393	2,394,433	3,006,367
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)								1,391,113
Amended and Restated 2002 Equity Incentive Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, nonvested, number (in shares)							2,327,176	2,160,127	2,146,498	2,327,176
The ESPP Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, number of shares available for grant (in shares)								51,638

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summary of Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Shares Under Option
Beginning of period (in shares)	2,405,371	3,042,180	3,770,905
Options granted (in shares)	572,625	406,950	386,600
Options exercised (in shares)	(477,910)	(1,042,198)	(778,112)
Options forfeited (in shares)	(265,755)	(1,561)	(337,213)
End of period (in shares)	2,234,331	2,405,371	3,042,180
Options exercisable end period (in shares)	1,536,879
Weighted- Average Exercise Price per Share
Beginning of period (in dollars per share)	$ 21.39	$ 14.78	$ 14.01
Options granted (in dollars per share)	12.27	41.27	25.27
Options exercised (in dollars per share)	19.09	9.87	13.76
Options forfeited (in dollars per share)	35.88	16.70	20.48
End of period (in dollars per share)	22.67	$ 21.39	$ 14.78
Options exercisable end of period (in dollars per share)	$ 18.71

SHARE-BASED COMPENSATION - Su86

SHARE-BASED COMPENSATION - Summary of Non-vested Restricted Stock Awards (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Non-Vested Restricted Stock Awards
Non-vested beginning of period (in shares)	2,146,498	2,327,176	2,123,835
Granted (in shares)	1,245,184	973,742	1,449,585
Vested (in shares)	(893,190)	(930,159)	(796,966)
Forfeited (in shares)	(338,365)	(224,261)	(449,278)
Non-vested end of period (in shares)	2,160,127	2,146,498	2,327,176
Weighted- Average Grant Date Fair Value
Non-vested beginning of period (in dollars per share)	$ 33.20	$ 23.61	$ 21.13
Granted (in dollars per share)	31.77	45.40	25.35
Vested (in dollars per share)	28.97	22.64	21.36
Forfeited (in dollars per share)	33.87	29.01	21.47
Non-vested end of period (in dollars per share)	$ 34.02	$ 33.20	$ 23.61

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Option Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Volatility (range), minimum	38.10%	39.90%	40.10%
Volatility (range) maximum	40.30%	40.10%	41.70%
Volatility (weighted average)	38.30%	40.00%	40.20%
Risk-free interest rate (range) minimum	1.20%	0.80%	0.60%
Risk-free interest rate (range) maximum	1.90%	1.80%	1.90%
Risk-free interest rate (weighted average)	1.40%	1.70%	1.80%
Dividend yield	0.00%	0.00%	0.00%
Weighted-average expected life (years)	6 years 50 days	6 years 65 days	6 years 25 days
Weighted average grant date fair value (in dollars per share)	$ 12.27	$ 17.08	$ 10.45

SHARE-BASED COMPENSATION - Shar

SHARE-BASED COMPENSATION - Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 32,180	$ 28,613	$ 20,883
Manufacturing expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	6,364	4,479	2,494
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	5,697	5,996	5,072
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 20,119	$ 18,138	$ 13,317

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($)	Aug. 15, 2002	Feb. 28, 2001	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions per employee, percent (up to)			25.00%
Employer matching contribution, percent of match					50.00%	100.00%
Employer matching contribution, percent of employees' gross pay (up to)					6.00%	5.00%
Employers discretionary profit sharing and matching contributions vesting period			3 years
Employer matching contributions, amount			$ 7,400,000	$ 3,700,000	$ 1,600,000
Employer discretionary contributions, amount			0	0	0
Stock issued during period, value			(602,000)	(3,518,000)	$ 3,270,000
Cash surrender value of life insurance			37,400,000	30,700,000		$ 37,400,000
Deferred compensation liability,noncurrent			$ 28,582,000	$ 25,581,000		$ 28,582,000
The ESPP Plan
Defined Benefit Plan Disclosure [Line Items]
Common stock, capital shares reserved for future issuance (in shares)		500,000
Discount from market price, purchase date, percent		15.00%
Stock issued during period, shares (in shares)			29,612	35,275	35,350
Stock issued during period, value			$ 700,000	$ 1,200,000	$ 800,000
ENQDCP
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation arrangement with individual, employer match contributions vesting period	5 years
Deferred compensation arrangement with individual, employer contribution			$ 1,000,000	$ 1,100,000	$ 900,000
ENQDCP | Base Salary and Sales Bonus
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions per employee, percent (up to)	75.00%
ENQDCP | Annual Performance Bonus
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contributions per employee, percent (up to)	100.00%
ENQDCP | Deferred Compensation, Excluding Share-based Payments and Retirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match	50.00%
ENQDCP | Base Salary and Bonus Compensation
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of employees' gross pay (up to)	10.00%
Maximum employer annual contributions per employee, percent	5.00%
ENQDCP | First 5 Years of Employment
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation arrangement with individual, percentage vested	20.00%
ENQDCP | After 5 Years of Employment
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation arrangement with individual, percentage vested	100.00%
Vesting Period, Year One
Defined Benefit Plan Disclosure [Line Items]
Employers matching contribution, annual vesting percentage			25.00%
Vesting Period, Year Two
Defined Benefit Plan Disclosure [Line Items]
Employers matching contribution, annual vesting percentage			25.00%
Vesting Period, Year Three
Defined Benefit Plan Disclosure [Line Items]
Employers matching contribution, annual vesting percentage			50.00%

RESTRUCTURINGS (Details)

RESTRUCTURINGS (Details) $ in Thousands	Oct. 30, 2014position	Aug. 31, 2016position	Mar. 31, 2016	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)position	Jun. 30, 2015USD ($)position	Dec. 31, 2014USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated | position	41
Restructuring charges									$ 27,108
Payments for restructuring									7,276
Research and Development Services
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated | position	35
Employee retention and severance payments
Restructuring Cost and Reserve [Line Items]
Restructuring charges									6,636
Payments for restructuring									691
Employee retention and severance payments | Cost of Sales
Restructuring Cost and Reserve [Line Items]
Severance costs				$ 27,100
Technical transfer of products
Restructuring Cost and Reserve [Line Items]
Restructuring charges									6,573
Payments for restructuring									6,573
Asset impairment and accelerated depreciation charges
Restructuring Cost and Reserve [Line Items]
Restructuring charges									13,678
Payments for restructuring									0
Facilities lease terminations and asset retirement obligations
Restructuring Cost and Reserve [Line Items]
Restructuring charges									209
Payments for restructuring									0
Legal and professional fees
Restructuring Cost and Reserve [Line Items]
Restructuring charges									12
Payments for restructuring									12
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges							$ 2,100
Manufacturing and Packaging Site
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, estimated completion period			2 years
Number of employees, expected to be terminated that were retained | position		28
Restructuring and related cost, expected number of positions eliminated | position		187
Total estimated restructuring charges									43,900
Manufacturing and Packaging Site | Employee retention and severance payments
Restructuring Cost and Reserve [Line Items]
Amount Expected to be Incurred									13,400
Manufacturing and Packaging Site | Technical transfer of products
Restructuring Cost and Reserve [Line Items]
Amount Expected to be Incurred									11,200
Manufacturing and Packaging Site | Asset impairment and accelerated depreciation charges
Restructuring Cost and Reserve [Line Items]
Amount Expected to be Incurred									18,000
Manufacturing and Packaging Site | Facilities lease terminations and asset retirement obligations
Restructuring Cost and Reserve [Line Items]
Amount Expected to be Incurred									1,000
Manufacturing and Packaging Site | Legal and professional fees
Restructuring Cost and Reserve [Line Items]
Amount Expected to be Incurred									300
Technical Operations and R&D
Restructuring Cost and Reserve [Line Items]
Severance costs					$ 2,500
Restructuring and related cost, number of positions eliminated | position					27
Payments for restructuring									$ 2,300
Packaging and Distribution Operations
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, incurred cost						$ 2,600
Restructuring and related cost, number of positions eliminated | position						93
Payments for restructuring								$ 2,600

RESTRUCTURINGS - Summary of Res

RESTRUCTURINGS - Summary of Reserve Activity (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve, period start	$ 0
Expensed / Accrued Expense	27,108
Cash Payments	(7,276)
Non-Cash Items	(13,678)
Restructuring reserve, period end	6,154
Employee retention and severance payments
Restructuring Reserve [Roll Forward]
Restructuring reserve, period start	0
Expensed / Accrued Expense	6,636
Cash Payments	(691)
Non-Cash Items	0
Restructuring reserve, period end	5,945
Technical transfer of products
Restructuring Reserve [Roll Forward]
Restructuring reserve, period start	0
Expensed / Accrued Expense	6,573
Cash Payments	(6,573)
Non-Cash Items	0
Restructuring reserve, period end	0
Asset impairment and accelerated depreciation charges
Restructuring Reserve [Roll Forward]
Restructuring reserve, period start	0
Expensed / Accrued Expense	13,678
Cash Payments	0
Non-Cash Items	(13,678)
Restructuring reserve, period end	0
Facilities lease terminations and asset retirement obligations
Restructuring Reserve [Roll Forward]
Restructuring reserve, period start	0
Expensed / Accrued Expense	209
Cash Payments	0
Non-Cash Items	0
Restructuring reserve, period end	209
Legal and professional fees
Restructuring Reserve [Roll Forward]
Restructuring reserve, period start	0
Expensed / Accrued Expense	12
Cash Payments	(12)
Non-Cash Items	0
Restructuring reserve, period end	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Contingency [Line Items]
Deferred tax assets, valuation allowance	$ 108,758,000
Unrecognized tax benefits	6,425,000	$ 5,680,000	$ 6,517,000	$ 5,292,000
Unrecognized tax benefits that would impact effective tax rate	5,300,000	4,300,000	$ 5,000,000
Unrecognized tax benefits, interest on income taxes expense	125,000	8,000
Unrecognized tax benefits, interest on income taxes accrued	400,000	600,000
Deferred income taxes and tax credits	$ 0
State and Local Jurisdiction
Income Tax Contingency [Line Items]
Unrecognized tax benefits, interest on income taxes accrued		$ 600,000

INCOME TAXES - Provision for In

INCOME TAXES - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal taxes	$ 21,386	$ 48,078	$ 42,635
State taxes	266	2,286	2,467
Foreign taxes	1,377	(442)	832
Total current tax expense	23,029	49,922	45,934
Deferred:
Federal taxes	(133,387)	(23,605)	(9,039)
State taxes	5,502	(5,733)	(3,597)
Foreign taxes	562	(213)	(92)
Total deferred tax (benefit) expense	(127,323)	(29,551)	(12,728)
(Benefit from) provision for income taxes	$ (104,294)	$ 20,371	$ 33,206

INCOME TAXES - Effective Income

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INCOME TAXES - Effective Income Tax Rate Reconciliation [Line Items] (Details)
(Loss) income before income taxes	$ (576,325)	$ 59,368	$ 90,559
Tax provision at the federal statutory rate, amount	$ (201,714)	$ 20,779	$ 31,696
Tax provision at the federal statutory rate, percent	35.00%	35.00%	35.00%
Increase (decrease) in tax rate resulting from:
Tax rate differential and permanent items on foreign income, amount	$ 186	$ 412	$ 2,285
Tax rate differential and permanent items on foreign income, percent	0.00%	0.70%	2.50%
State income taxes, net of federal benefit, amount	$ (7,394)	$ 365	$ 887
State income taxes, net of federal benefit, percent	1.30%	0.60%	1.00%
Share-based compensation, amount	$ 1,768	$ 968	$ 189
Share-based compensation, percent	(0.30%)	1.60%	0.20%
Executive compensation, amount	$ (761)	$ 3,140	$ 1,552
Executive compensation, percent	0.10%	5.30%	1.70%
Domestic manufacturing deduction, amount	$ (1,286)	$ (1,422)	$ (679)
Domestic manufacturing deduction, percent	0.20%	(2.40%)	(0.70%)
Other permanent book/tax differences, amount	$ (258)	$ 2,003	$ 170
Other permanent book/tax differences, percent	0.00%	3.40%	0.20%
Provision for uncertain tax positions, amount	$ 337	$ 184	$ 952
Provision for uncertain tax positions, percent	0.00%	0.30%	1.10%
Taiwan Rural Area Investment Tax Credit, amount	$ 0	$ (2,134)	$ 0
Taiwan Rural Area Investment Tax Credit, percent	(0.00%)	(3.60%)	(0.00%)
Other, net, amount	$ 842	$ 246	$ 24
Other, net, percent	(0.10%)	0.40%	0.00%
Valuation allowance, amount	$ 108,758	$ 0	$ 0
Valuation allowance, percent	(18.90%)	0.00%	0.00%
(Benefit from) provision for income taxes	$ (104,294)	$ 20,371	$ 33,206
(Benefit from) provision for income taxes, percent	18.10%	34.30%	36.70%
Prior Years Estimated
Increase (decrease) in tax rate resulting from:
Prior year adjustments, amount	$ (792)	$ 859	$ 664
Prior year adjustments, percent	0.10%	1.50%	0.70%
State and Local Jurisdiction
Increase (decrease) in tax rate resulting from:
Research and development credits, amount	$ (1,767)	$ (2,357)	$ (2,133)
Research and development credits, percent	0.30%	(4.00%)	(2.40%)
Domestic Tax Authority
Increase (decrease) in tax rate resulting from:
Research and development credits, amount	$ (2,213)	$ (2,672)	$ (2,401)
Research and development credits, percent	0.40%	(4.50%)	(2.60%)

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Accrued expenses	$ 114,825	$ 83,414
Inventory reserves	15,873	9,585
Net operating loss carryforwards	2,302	38
Depreciation and amortization	651	362
Acquired product rights and intangibles	128,401	20,912
Capitalized legal fees	10,231	7,352
Credit carryforwards	8,453	6,149
Share based compensation expense	6,371	5,471
Other	525	389
Deferred tax assets	287,632	133,672
Deferred tax liabilities:
Tax depreciation and amortization in excess of book amounts	5,428	7,367
Acquired product rights and intangibles	95,517	188,018
Deferred manufacturing costs	64	65
Derivative	6,192	8,894
Other	1,807	1,783
Deferred tax liabilities	109,008	206,127
Deferred tax assets (liabilities), net	178,624
Valuation allowance	(108,758)
Deferred tax assets, net after valuation allowance	$ 69,866
Deferred tax assets (liabilities), net		$ (72,455)

INCOME TAXES - Rollforward of U

INCOME TAXES - Rollforward of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits beginning of year	$ 5,680	$ 6,517	$ 5,292
Gross change for current year positions	549	1,079	1,089
Gross change for prior period positions	1,318	(673)	310
Gross change due to Tower Acquisition	0	1,037	0
Decrease due to settlements and payments	(1,122)	(2,280)	(174)
Unrecognized tax benefits end of year	$ 6,425	$ 5,680	$ 6,517

ALLIANCE AND COLLABORATION AG97

ALLIANCE AND COLLABORATION AGREEMENTS (Details)

Jun. 30, 2016USD ($)

May 31, 2016USD ($)

Aug. 31, 2013USD ($)

Jun. 30, 2012USD ($)product

Mar. 31, 2012agreement

Sep. 30, 2009USD ($)

Nov. 30, 2008product

Jun. 30, 2002

Mar. 31, 2016USD ($)

Mar. 31, 2014USD ($)

Dec. 31, 2012

Dec. 31, 2016USD ($)product

Dec. 31, 2015USD ($)product

Dec. 31, 2014USD ($)product

Dec. 31, 2011product

Jan. 31, 2012

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Accrued profit sharing and royalty expenses

$ 13,642,000

$ 65,725,000

Number of products | product

10

10

Research and development

$ 80,466,000

$ 70,622,000

$ 78,642,000

Products Approved

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of products | product

4

Tolmar Incorporated

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of loan agreements (or more) | agreement

1

Maximum loan amount pursuant to loan and security agreement

15,000,000

Payments received

$ 15,000,000

Teva

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborative arrangement maximum contingent payments amount

$ 3,500,000

Milestone payment, paid

$ 3,500,000

Specified Threshold

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Product sales

$ 100,000,000

Shire Laboratories Incorporated

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Accrued profit sharing and royalty expenses

7,500,000

19,500,000

21,100,000

Tolmar Incorporated

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Accrued profit sharing and royalty expenses

36,400,000

$ 77,700,000

16,000,000

Number of products | product

11

Number of products, terminated development efforts | product

1

Collaborative arrangement up front payment

$ 21,000,000

Tolmar Incorporated | Products Approved

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of products | product

10

Tolmar Incorporated | Up-front Payment Arrangement

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborative arrangement up front payment

$ 21,000,000

Tolmar Incorporated | Milestone Payments

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborative arrangement maximum contingent payments amount

$ 25,000,000

Collaborative arrangement required payment net

20,000,000

Collaborative arrangement required payment net, achievement of regulatory milestone event

12,000,000

Collaborative arrangement required payment Net, achievement of commercialization event

$ 5,000,000

Teva Pharmaceutical Industries Limited

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Service agreement term

10 years

Pfizer Incorporated

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Service agreement term

15 years

Valeant Pharmaceuticals International

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of products | product

5

Period after the first commercial sale of the advanced form of SOLODYN product the company Is receiving royalty fee income

8 years

Valeant Pharmaceuticals International | Products Approved

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of products | product

1

Valeant Pharmaceuticals International | Generic Products

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of products | product

4

4

Valeant Pharmaceuticals International | Branded Advanced Form of Solodyn Product

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Number of products | product

1

Valeant Pharmaceuticals International | Milestone Payments

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborative arrangement maximum contingent payments amount

$ 8,000,000

Collaborative arrangement contingent payments received and potentially to be received

$ 5,000,000

Endo Pharmaceuticals Incorporation | Up-front Payment Arrangement

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Deferred revenue

$ 0

Astra Zeneca

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborative arrangement reduced royalty, amount

$ 30,000,000

Collaborative arrangement copromotion service fee percentage

100.00%

Accrued royalties

17,200,000

$ 16,800,000

$ 14,300,000

DURECT Corporation

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Collaborative arrangement up front payment

$ 2,000,000

Collaborative arrangement maximum contingent payments amount

$ 61,000,000

Acceptance Of Regulatory Filings For Substantive Review

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

2 months

Minimum | Tolmar Product Rights

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Finite-lived intangible assets, useful life

5 years

Minimum | IND-enabling Animal Studies for New Development Candidate

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

12 months

Minimum | Phase 1 Trials

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

1 year

Minimum | Phase 2 Trials

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

1 year

Minimum | Phase 3 Trials

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

2 years

Minimum | Bioequivalence Studies

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

3 months

Minimum | Preparation And Submission Of Regulatory Filings

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

6 months

Minimum | Potential Marketing Approval One

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

1 year

Minimum | Potential Marketing Approval Two

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

1 year

Maximum | Tolmar Product Rights

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Finite-lived intangible assets, useful life

12 years

Maximum | IND-enabling Animal Studies for New Development Candidate

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

18 months

Maximum | Phase 1 Trials

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

2 years

Maximum | Phase 2 Trials

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

3 years

Maximum | Phase 3 Trials

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

4 years

Maximum | Bioequivalence Studies

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

1 year

Maximum | Preparation And Submission Of Regulatory Filings

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

12 months

Maximum | Potential Marketing Approval One

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

3 years

Maximum | Potential Marketing Approval Two

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

Completion period

3 years

COMMITMENTS AND CONTINGENCIES98

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Operating leases, rent expense	$ 4.9	$ 4.1	$ 2.2
Purchase commitment, remaining minimum amount committed	$ 129.1
Purchase commitment period (less than)	1 year

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Future Minimum Lease Payments under Non-cancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2016USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,017	$ 5,439
2,018	5,470
2,019	3,682
2,020	2,270
2,021	2,056
Thereafter	11,274
Total minimum lease payments	$ 30,191

LEGAL AND REGULATORY MATTERS (D

LEGAL AND REGULATORY MATTERS (Details) $ in Millions	Jan. 27, 2017complaint	May 02, 2016USD ($)	Feb. 10, 2015cid	Oct. 31, 2016complaint	Apr. 30, 2015complaint	Dec. 31, 2016	Jan. 31, 2016complaint
Loss Contingencies [Line Items]
Loss contingency patent infringement litigation period within which patent holder may file suit for patent infringement						45 days
Loss contingency patent infringement litigation maximum stay period for approval of abbreviated new drug application						30 months
Number of CIDs received | cid			3
Solodyn
Loss Contingencies [Line Items]
Number of class action complaints							18
Opana ER
Loss Contingencies [Line Items]
Number of class action complaints					14
Generic Drug Pricing Class Action
Loss Contingencies [Line Items]
Number of class action complaints				21
Generic Digoxin and Doxycycline Antitrust Litigation | Subsequent Event
Loss Contingencies [Line Items]
Number of class action complaints	2
Turing Pharmaceuticals AG
Loss Contingencies [Line Items]
Chargebacks not reimbursed for (in excess of) | $		$ 35.7

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)segmentproduct	Dec. 31, 2015USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segments | segment	2
Number of internally developed branded pharmaceutical product candidate | product	1
Number of products sold and distributed | product	4
Assets | $	$ 1,823,018	$ 1,922,487
Taiwan Facility
Segment Reporting, Revenue Reconciling Item [Line Items]
Assets | $	$ 134,900	$ 131,600

SEGMENT INFORMATION - Segment I

SEGMENT INFORMATION - Segment Information Reconciled to Consolidated Financial Results (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues, net	$ 198,422	$ 227,909	$ 172,590	$ 225,508	$ 282,092	$ 221,099	$ 214,182	$ 143,096	$ 824,429	$ 860,469	$ 596,049
Cost of revenues									486,899	500,762	280,520
Cost of revenues impairment charges									488,632	7,303	2,876
Selling, general and administrative									201,830	201,287	139,390
Research and development									80,466	70,622	78,642
In-process research and development impairment charges									52,965	6,360	0
Patent litigation									7,819	4,567	5,805
(Loss) income before income taxes									(576,325)	59,368	90,559
Corporate and Other
Segment Reporting Information [Line Items]
Cost of revenues impairment charges										0	0
Selling, general and administrative									119,874	119,219	78,939
In-process research and development impairment charges									0	0
(Loss) income before income taxes									(202,017)	(129,419)	(77,196)
Impax Generics
Segment Reporting Information [Line Items]
Revenues, net	139,226	175,320	121,695	170,079	226,846	180,666	174,679	128,741	606,320	710,932	549,082
Impax Generics | Operating Segments
Segment Reporting Information [Line Items]
Revenues, net									606,320	710,932	549,082
Cost of revenues									417,316	442,742	257,583
Cost of revenues impairment charges									464,319	7,303	2,876
Selling, general and administrative									20,508	29,641	17,144
Research and development									61,980	52,478	40,927
In-process research and development impairment charges									27,765	6,360
Patent litigation									829	2,942	5,333
(Loss) income before income taxes									(386,397)	169,466	225,219
Impax Specialty Pharma
Segment Reporting Information [Line Items]
Revenues, net	$ 59,196	$ 52,589	$ 50,895	$ 55,429	$ 55,246	$ 40,433	$ 39,503	$ 14,355	218,109	149,537	46,967
Impax Specialty Pharma | Operating Segments
Segment Reporting Information [Line Items]
Revenues, net									218,109	149,537	46,967
Cost of revenues									69,583	58,020	22,937
Cost of revenues impairment charges									24,313	0	0
Selling, general and administrative									61,448	52,427	43,307
Research and development									18,486	18,144	37,715
In-process research and development impairment charges									25,200	0
Patent litigation									6,990	1,625	472
(Loss) income before income taxes									$ 12,089	$ 19,321	$ (57,464)

SEGMENT INFORMATION - Product L

SEGMENT INFORMATION - Product Line Information (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Product Information [Line Items]
Revenues	$ 198,422	$ 227,909	$ 172,590	$ 225,508	$ 282,092	$ 221,099	$ 214,182	$ 143,096	$ 824,429	$ 860,469	$ 596,049
Impax Generics
Product Information [Line Items]
Revenues	139,226	175,320	121,695	170,079	226,846	180,666	174,679	128,741	606,320	710,932	549,082
Impax Generics | Epinephrine Auto-Injector family (generic Adrenaclick®)
Product Information [Line Items]
Revenues									$ 91,572
Percentage of revenue									11.00%
Impax Generics | Oxymorphone HCI ER family
Product Information [Line Items]
Revenues									$ 72,661	$ 59,175	$ 65,323
Percentage of revenue									9.00%	7.00%	11.00%
Impax Generics | Diclofenac Sodium Gel family (generic Solaraze®)
Product Information [Line Items]
Revenues									$ 69,035	$ 148,610
Percentage of revenue									8.00%	17.00%
Impax Generics | Fenofibrate family
Product Information [Line Items]
Revenues									$ 64,001	$ 93,458	$ 111,550
Percentage of revenue									8.00%	11.00%	19.00%
Impax Generics | Amphetamine Salts ER (CII) family (generic Adderall®)
Product Information [Line Items]
Revenues										$ 106,252	$ 115,411
Percentage of revenue										12.00%	19.00%
Impax Generics | Metaxalone family (generic Skelaxin)
Product Information [Line Items]
Revenues										$ 69,876
Percentage of revenue										8.00%
Impax Generics | Sevelamer Carbonate family (generic Renvela®)
Product Information [Line Items]
Revenues											$ 81,976
Percentage of revenue											14.00%
Impax Generics | Digoxin family (generic Lanoxin)
Product Information [Line Items]
Revenues											$ 49,702
Percentage of revenue											8.00%
Impax Specialty Pharma
Product Information [Line Items]
Revenues	$ 59,196	$ 52,589	$ 50,895	$ 55,429	$ 55,246	$ 40,433	$ 39,503	$ 14,355	$ 218,109	$ 149,537	$ 46,967
Impax Specialty Pharma | Rytary® Family
Product Information [Line Items]
Revenues									$ 73,833
Percentage of revenue									9.00%

SUPPLEMENTARY FINANCIAL INFO104

SUPPLEMENTARY FINANCIAL INFORMATION (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Less:
Total revenues	$ 198,422	$ 227,909	$ 172,590	$ 225,508	$ 282,092	$ 221,099	$ 214,182	$ 143,096	$ 824,429	$ 860,469	$ 596,049
Gross profit (loss)	(161,250)	(165,426)	72,984	102,590	114,770	93,549	84,851	59,234	(151,102)	352,404	312,653
Net (loss) income	$ (279,585)	$ (179,337)	$ (2,701)	$ (10,408)	$ 11,427	$ 35,755	$ (1,852)	$ (6,333)	$ (472,031)	$ 38,997	$ 57,353
Net loss per common share:
Basic (in dollars per share)	$ (3.91)	$ (2.51)	$ (0.04)	$ (0.15)	$ 0.16	$ 0.51	$ (0.03)	$ (0.09)	$ (6.63)	$ 0.56	$ 0.84
Diluted (in dollars per share)	$ (3.91)	$ (2.51)	$ (0.04)	$ (0.15)	$ 0.16	$ 0.49	$ (0.03)	$ (0.09)	$ (6.63)	$ 0.54	$ 0.81
Weighted-average common shares outstanding:
Basic (in shares)	71,487,071	71,331,247	71,100,123	70,665,394	70,416,757	69,820,348	69,338,789	68,967,875	71,147,397	69,640,417	68,185,552
Diluted (in shares)	71,487,071	71,331,247	71,100,123	70,665,394	72,041,760	72,777,746	69,338,789	68,967,875	71,147,397	72,027,344	70,530,349
Impax Generics
Revenue:
Impax sales, gross	$ 687,462	$ 651,372	$ 531,226	$ 611,281	$ 705,574	$ 565,261	$ 572,079	$ 355,321
Less:
Product returns	7,920	16,151	10,237	11,913	8,888	6,276	7,528	6,427
Impax product sales, net	136,014	168,593	119,953	167,184	224,156	178,456	171,273	125,959
Total revenues	139,226	175,320	121,695	170,079	226,846	180,666	174,679	128,741	$ 606,320	$ 710,932	$ 549,082
Impax Specialty Pharma
Revenue:
Impax sales, gross	108,149	77,841	81,254	82,073	86,274	69,286	65,269	29,219
Less:
Product returns	2,802	574	1,279	1,508	2,641	2,824	6,763	2,620
Impax product sales, net	59,224	52,589	50,895	55,429	51,617	40,206	39,275	14,128
Total revenues	59,196	52,589	50,895	55,429	55,246	40,433	39,503	14,355	218,109	149,537	46,967
Rx Partner | Impax Generics
Less:
Other Revenues	3,163	6,672	1,669	2,835	2,532	1,957	2,579	2,239
Other Revenues | Impax Generics
Less:
Other Revenues	49	55	73	60	158	253	827	543
Other Revenues | Impax Specialty Pharma
Less:
Other Revenues	(28)	0	0	0	3,629	227	228	227
Chargebacks
Less:
Sales Allowances									1,014,108	833,157	487,377
Chargebacks | Impax Generics
Less:
Sales Allowances	310,961	254,681	197,864	217,354	239,920	212,588	228,977	126,607
Chargebacks | Impax Specialty Pharma
Less:
Sales Allowances	15,253	5,439	8,826	6,111	9,159	5,893	4,452	5,561
Rebates
Less:
Sales Allowances									$ 740,758	$ 571,642	$ 260,747
Rebates | Impax Generics
Less:
Sales Allowances	193,838	163,340	178,097	185,476	200,721	141,646	140,340	83,130
Rebates | Impax Specialty Pharma
Less:
Sales Allowances	3,016	3,556	2,430	2,853	1,991	1,078	1,318	1,418
Other credits | Impax Generics
Less:
Sales Allowances	38,729	48,607	25,075	29,354	31,889	26,295	23,961	13,198
Other credits | Impax Specialty Pharma
Less:
Sales Allowances	$ 27,854	$ 15,683	$ 17,824	$ 16,172	$ 20,866	$ 19,285	$ 13,461	$ 5,492

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Term Loan - Revolving Credit Facility - USD ($) $ in Millions	Feb. 28, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Outstanding principal		$ 395
Subsequent Event
Subsequent Event [Line Items]
Voluntary prepayment	$ 50.3
Principal payment	50
Accrued interest payment	0.3
Outstanding principal	$ 345

SCHEDULE II, VALUATION AND Q106

SCHEDULE II, VALUATION AND QUALIFYING ACCOUNTS (Details) - Reserve for bad debts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 15,187	$ 515	$ 539
Charge to Costs and Expenses	41,213	5,122	0
Charge to Other Accounts	0	9,550	0
Deductions	(1,664)	0	(24)
Balance at End of Period	$ 54,736	$ 15,187	$ 515