Alkermes (ALKS) 10-Q 31 Jul 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 25, 2014
Document and Entity Information	'	'
Entity Registrant Name	'Alkermes plc.	'
Entity Central Index Key	'0001520262	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	145,827,889
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$188,322	$167,562
Investments - short-term	450,167	194,669
Receivables	139,316	134,154
Inventory	57,066	46,218
Prepaid expenses and other current assets	52,048	27,535
Total current assets	886,919	570,138
PROPERTY, PLANT AND EQUIPMENT, NET	264,247	274,490
INTANGIBLE ASSETS - NET	509,900	537,565
GOODWILL	92,740	92,740
INVESTMENTS - LONG-TERM	75,405	87,764
OTHER ASSETS	28,381	14,891
TOTAL ASSETS	1,857,592	1,577,588
CURRENT LIABILITIES:	'	'
Accounts payable and accrued expenses	93,033	91,173
Long-term debt - current	6,750	6,750
Deferred revenue - current	2,377	2,974
Total current liabilities	102,160	100,897
LONG-TERM DEBT	354,382	357,543
DEFERRED TAX LIABILITIES, NET - LONG-TERM	26,122	29,169
OTHER LONG-TERM LIABILITIES	11,596	12,580
DEFERRED REVENUE - LONG-TERM	11,507	12,213
Total liabilities	505,767	512,402
COMMITMENTS AND CONTINGENCIES (Note 16)	'	'
SHAREHOLDERS' EQUITY:	'	'
Preferred shares, par value, $0.01 per share; 50,000,000 shares authorized; zero issued and outstanding at June 30, 2014 and December 31, 2013, respectively	'	'
Ordinary shares, par value, $0.01 per share; 450,000,000 shares authorized; 146,646,177 and 138,482,571 shares issued; 145,663,941 and 137,792,626 shares outstanding at June 30, 2014 and December 31, 2013, respectively	1,464	1,382
Treasury shares, at cost (982,236 and 689,945 shares at June 30, 2014 and December 31, 2013, respectively)	-30,861	-17,833
Additional paid-in capital	1,886,827	1,553,337
Accumulated other comprehensive (loss) income	-2,712	10,574
Accumulated deficit	-502,893	-482,274
Total shareholders' equity	1,351,825	1,065,186
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$1,857,592	$1,577,588

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
CONDENSED CONSOLIDATED BALANCE SHEETS	'	'
Preferred shares, par value (in dollars per share)	$0.01	$0.01
Preferred shares, authorized	50,000,000	50,000,000
Preferred shares, issued	0	0
Preferred shares, outstanding	0	0
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	146,646,177	138,482,571
Common stock, shares outstanding	145,663,941	137,792,626
Treasury share	982,236	689,945

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
REVENUES:	'	'	'	'
Manufacturing and royalty revenues	$130,366	$119,788	$241,646	$266,707
Product sales, net	21,595	17,379	38,674	32,005
Research and development revenue	1,463	1,464	3,316	3,341
Total revenues	153,424	138,631	283,636	302,053
EXPENSES:	'	'	'	'
Cost of goods manufactured and sold (exclusive of amortization of acquired intangible assets shown below)	43,290	45,991	82,129	93,982
Research and development	67,207	33,462	119,347	69,262
Selling, general and administrative	50,663	32,933	93,213	67,612
Amortization of acquired intangible assets	15,089	12,716	27,665	23,038
Restructuring	'	'	'	12,300
Impairment of long-lived assets	'	'	'	3,346
Total expenses	176,249	125,102	322,354	269,540
OPERATING (LOSS) INCOME	-22,825	13,529	-38,718	32,513
OTHER INCOME (EXPENSE), NET:	'	'	'	'
Interest income	323	161	834	332
Interest expense	-3,385	-3,468	-6,741	-14,941
Gain on sale of investment in Acceleron Pharma Inc.	15,296	'	15,296	'
Gain on sale of property, plant and equipment	12,285	'	12,285	'
Other income (expense), net	518	-170	-1,332	14
Total other income (expense), net	25,037	-3,477	20,342	-14,595
INCOME (LOSS) BEFORE INCOME TAXES	2,212	10,052	-18,376	17,918
INCOME TAX (BENEFIT) PROVISION	-1,523	2,718	2,243	7,585
NET INCOME (LOSS)	3,735	7,334	-20,619	10,333
EARNINGS (LOSS) PER ORDINARY SHARE:	'	'	'	'
Basic (in dollars per share)	$0.03	$0.05	($0.14)	$0.08
Diluted (in dollars per share)	$0.02	$0.05	($0.14)	$0.07
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES OUTSTANDING:	'	'	'	'
Basic (in shares)	144,913	134,602	144,140	133,941
Diluted (in shares)	154,300	143,369	144,140	141,822
COMPREHENSIVE (LOSS) INCOME:	'	'	'	'
Net income (loss)	3,735	7,334	-20,619	10,333
Holding gains (losses), net of tax of $6,174, none, $7,627 and none, respectively	4,540	-408	2,009	-265
Reclassification of unrealized gains to realized gains	-15,296	'	-15,296	'
COMPREHENSIVE (LOSS) INCOME	($7,021)	$6,926	($33,906)	$10,068

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME	'	'	'	'
Holding (losses), tax	$6,174	$0	$7,627	$0

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net (loss) income	($20,619)	$10,333
Adjustments to reconcile net (loss) income to cash flows from operating activities:	'	'
Depreciation and amortization	47,486	42,048
Share-based compensation expense	32,758	16,690
Excess tax benefit from share-based compensation	-6,984	-11,730
Impairment of long-lived assets	'	3,346
(Gain) loss on sale of property, plant and equipment	-12,160	391
(Gain) on sale of investment of Acceleron Pharma Inc.	-15,296	'
Deferred income taxes	-10,664	-1,732
Loss on debt refinancing transaction	'	7,541
Prepayment penalty in connection with debt refinancing	'	-3,733
Other non-cash charges	9,965	1,169
Changes in assets and liabilities:	'	'
Receivables	-5,162	-10,743
Inventory, prepaid expenses and other assets	-19,714	-1,036
Accounts payable and accrued expenses	3,693	16,929
Deferred revenue	-1,304	-974
Other long-term liabilities	3,306	-448
Cash flows provided by operating activities	5,305	68,051
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Additions of property, plant and equipment	-11,438	-11,884
Proceeds from the sale of property, plant and equipment	14,361	125
Purchases of investments	-433,203	-175,619
Sales and maturities of investments	184,446	70,149
Cash flows used in investing activities	-245,834	-117,229
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Proceeds from the issuance of ordinary shares, net	248,406	'
Proceeds from the issuance of ordinary shares under share-based compensation arrangements	21,821	31,926
Excess tax benefit from share-based compensation	6,984	11,730
Employee taxes paid related to net share settlement of equity awards	-12,546	-8,523
Principal payments of long-term debt	-3,376	-5,450
Cash flows provided by financing activities	261,289	29,683
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	20,760	-19,495
CASH AND CASH EQUIVALENTS - Beginning of period	167,562	135,892
CASH AND CASH EQUIVALENTS - End of period	188,322	116,397
Non-cash investing and financing activities:	'	'
Purchased capital expenditures included in accounts payable and accrued expenses	$1,491	$1,056

THE_COMPANY

THE COMPANY	6 Months Ended
	Jun. 30, 2014
THE COMPANY	'
THE COMPANY	'
	1. THE COMPANY
	Alkermes plc (“Alkermes”) is a fully integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to research, develop and commercialize, both with partners and on its own, pharmaceutical products that are designed to address unmet medical needs of patients in major therapeutic areas. Alkermes has a diversified portfolio of more than 20 commercial drug products and a clinical pipeline of product candidates that address CNS disorders such as addiction, schizophrenia and depression. Headquartered in Dublin, Ireland, Alkermes has a research and development (“R&D”) center in Waltham, Massachusetts; R&D and manufacturing facilities in Athlone, Ireland; and manufacturing facilities in Gainesville, Georgia and Wilmington, Ohio.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company for the three and six months ended June 30, 2014 and 2013 are unaudited and have been prepared on a basis substantially consistent with the audited financial statements for the nine-month transition period ended December 31, 2013 (the “Transition Period”). The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”) (commonly referred to as “GAAP”). In the opinion of management, the condensed consolidated financial statements include all adjustments, which are of a normal recurring nature, that are necessary to present fairly the results of operations for the reported periods.
	These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto of Alkermes, which are contained in the Company’s Transition Report on Form 10-K, which has been filed with the U.S. Securities and Exchange Commission (“SEC”). The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period, including the Transition Period, or for a full fiscal year.
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Alkermes plc and its wholly owned subsidiaries as disclosed in Note 2: Summary of Significant Accounting Policies within Part II, Item 8 of our Transition Report. During the six months ended June 30, 2014, the following wholly owned subsidiaries were added: Alkermes Science Three Limited; Alkermes Science Four Limited; and Alkermes Science Five Limited. Intercompany accounts and transactions have been eliminated.
	Use of Estimates
	The preparation of the Company’s condensed consolidated financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates and judgments and methodologies, including those related to revenue recognition and related allowances, its collaborative relationships, clinical trial expenses, the valuation of inventory, impairment and amortization of intangibles and long-lived assets, share-based compensation, income taxes including the valuation allowance for deferred tax assets, valuation of investments and derivative instruments, litigation and restructuring charges. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.
	Segment Information
	The Company operates as one business segment, which is the business of developing, manufacturing and commercializing medicines designed to yield better therapeutic outcomes and improve the lives of patients with serious diseases. The Company’s chief decision maker, the Chairman and Chief Executive Officer, reviews the Company’s operating results on an aggregate basis and manages the Company’s operations as a single operating unit.
	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard-setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.
	In July 2013, the FASB adopted clarifying guidance on the presentation of unrecognized tax benefits when various qualifying tax credits exist. The amendment requires that unrecognized tax benefits be presented on the consolidated balance sheet as a reduction to deferred tax assets created by net operating losses (‘‘NOLs’’) or other tax credits from prior periods that occur in the same taxing jurisdiction. To the extent that the unrecognized tax benefit exceeds these NOLs or other tax credits, it shall be presented as a liability. This update, required to be adopted for all annual periods and interim reporting periods beginning after December 15, 2013, was adopted by the Company on January 1, 2014. The adoption of this standard did not have a material impact on the presentation of the Company’s financial position.
	In June 2014, the FASB issued guidance that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. Existing GAAP does not contain explicit guidance on how to account for these share-based payments. The new guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Entities have the option of prospectively applying the guidance to awards granted or modified after the effective date or retrospectively applying the guidance to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements. The guidance becomes effective for the Company in its year ending December 31, 2016 and early adoption is permitted. The Company is currently assessing the impact that this standard will have on its consolidated financial statements.
	In May 2014, the FASB issued guidance that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The guidance becomes effective for the Company in its year ending December 31, 2017 and early adoption is not permitted. The Company is currently assessing the impact that this standard will have on its consolidated financial statements.

INVESTMENTS

INVESTMENTS	6 Months Ended
	Jun. 30, 2014
INVESTMENTS	'
INVESTMENTS	'
	3. INVESTMENTS
	Investments consisted of the following:
				Gross Unrealized
						Losses
		Amortized				Less than			Greater than			Estimated
		Cost		Gains		One Year			One Year			Fair Value
		(In thousands)
	June 30, 2014
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	223,404	$	192	$	—		$	—		$	223,596
	Corporate debt securities	178,720		153		(30		)	—			178,843
	International government agency debt securities	46,492		37		(2		)	—			46,527
		448,616		382		(32		)	—			448,966
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	449,817		382		(32		)	—			450,167
	Long-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	42,082		—		(43		)	(13		)	42,026
	Corporate debt securities	25,793		—		(17		)	(22		)	25,754
	International government agency debt securities	6,080		—		(2		)	—			6,078
		73,955		—		(62		)	(35		)	73,858
	Held-to-maturity securities:
	Certificates of deposit	1,547		—		—			—			1,547
	Total long-term investments	75,502		—		(62		)	(35		)	75,405
	Total investments	$	525,319	$	382	$	(94	)	$	(35	)	$	525,572
	December 31, 2013
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	130,669	$	80	$	(1	)	$	—		$	130,748
	Corporate debt securities	38,614		64		(30		)	—			38,648
	International government agency debt securities	24,097		8		(33		)	—			24,072
		193,380		152		(64		)	—			193,468
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	194,581		152		(64		)	—			194,669
	Long-term investments:
	Available-for-sale securities:
	Equity securities	8,732		21,253		—			—			29,985
	U.S. government and agency debt securities	28,503		—		(61		)	(3		)	28,439
	Corporate debt securities	20,266		—		(30		)	(75		)	20,161
	International government agency debt securities	7,691		—		(5		)	—			7,686
		65,192		21,253		(96		)	(78		)	86,271
	Held-to-maturity securities:
	Certificates of deposit	1,493		—		—			—			1,493
	Total long-term investments	66,685		21,253		(96		)	(78		)	87,764
	Total investments	$	261,266	$	21,405	$	(160	)	$	(78	)	$	282,433
	The proceeds from the sales and maturities of marketable securities, which were primarily reinvested and resulted in realized gains and losses, were as follows:
		Six Months Ended
		June 30,
	(In thousands)	2014		2013
	Proceeds from the sales and maturities of marketable securities	$	184,446	$	70,149
	Realized gains	$	15,304	$	46
	Realized losses	$	10	$	5
	During the three months ended June 30, 2014, the Company sold its investment in Acceleron Pharma Inc. (“Acceleron”), which consisted of common stock and warrants to purchase the common stock of Acceleron. The Company received net proceeds of $24.0 million and realized a gain of $15.3 million from the sale of this investment. The Company reclassified the gain from accumulated other comprehensive (loss) income to gain on sale of investment in Acceleron in its condensed consolidated Statements of Operations and Comprehensive (Loss) Income.
	The Company’s available-for-sale and held-to-maturity securities at June 30, 2014 had contractual maturities in the following periods:
		Available-for-sale				Held-to-maturity
		Amortized		Estimated		Amortized			Estimated
	(In thousands)	Cost		Fair Value		Cost			Fair Value
	Within 1 year	$	296,062	$	296,166	$	1,547		$	1,547
	After 1 year through 5 years	226,509		226,658		—			—
	Total	$	522,571	$	522,824	$	1,547		$	1,547
	At June 30, 2014, the Company believed that the unrealized losses on its available-for-sale investments were temporary. The investments with unrealized losses consisted primarily of U.S. government and agency debt securities and corporate debt securities. In making the determination that the decline in fair value of these securities was temporary, the Company considered various factors, including but not limited to: the length of time each security was in an unrealized loss position; the extent to which fair value was less than cost; financial condition and near-term prospects of the issuers; and the Company’s intent not to sell these securities and the assessment that it is more likely than not that the Company would not be required to sell these securities before the recovery of their amortized cost basis.
	The Company’s investment in Civitas Therapeutics, Inc. (“Civitas”) was zero and $2.0 million at June 30, 2014 and December 31, 2013, respectively, which was recorded within “Other Assets” in the accompanying condensed consolidated balance sheets. During the six months ended June 30, 2014, the Company recorded a reduction in its investment in Civitas of $2.0 million, which represented the Company’s proportionate share of Civitas’ net losses for this period.  As the Company’s interest in Civitas has reached zero, the Company will no longer record its proportionate share of Civitas’ net losses until such time as the Company’s share of Civitas’ net income exceeds its share of Civitas’ net losses not recognized during the period the equity method was suspended.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2014
FAIR VALUE MEASUREMENTS	'
FAIR VALUE MEASUREMENTS	'
	4. FAIR VALUE MEASUREMENTS
	The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:
		June 30,
	(In thousands)	2014			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	265,622			126,594		139,028			—
	Corporate debt securities	204,597			—		204,597			—
	International government agency debt securities	52,605			—		52,605			—
	Total	$	524,025		$	127,795	$	396,230		$	—
	Liabilities:
	Interest rate swap contract	$	(92	)	$	—	$	(92	)	$	—
	Total	$	(92	)	$	—	$	(92	)	$	—
		December 31,
	(In thousands)	2013			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	159,187			63,213		95,974			—
	Corporate debt securities	58,809			—		58,809			—
	International government agency debt securities	31,758			—		31,758			—
	Equity securities	29,985			28,459		—			1,526
	Total	$	280,940		$	92,873	$	186,541		$	1,526
	Liabilities:
	Interest rate swap contract	$	(275	)	$	—	$	(275	)	$	—
	Total	$	(275	)	$	—	$	(275	)	$	—
	The Company transfers its financial assets and liabilities, measured at fair value on a recurring basis, between the fair value hierarchies at the end of each reporting period.
	There were no transfers of any securities from Level 1 to Level 2 or from Level 2 to Level 1 during the six months ended June 30, 2014. The following table is a rollforward of the fair value of the Company’s investments whose fair value was determined using Level 3 inputs at June 30, 2014:
	(In thousands)	Fair Value
	Balance, January 1, 2014	$	1,526
	Total unrealized losses included in other comprehensive (loss) income	(383		)
	Sale of equity securities	(1,143		)
	Balance, June 30, 2014	$	—
	During the three months ended June 30, 2014, the Company sold its Level 3 investment, which consisted of warrants to purchase the common stock of Acceleron.
	The Company’s investments in U.S. government and agency debt securities, international government agency debt securities and corporate debt securities classified as Level 2 within the fair value hierarchy were initially valued at the transaction price and subsequently valued, at the end of each reporting period, utilizing market-observable data. The market-observable data included reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events. The Company validated the prices developed using the market-observable data by obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming that the relevant markets are active.
	The Company entered into an interest rate swap agreement in September 2011, which is described in greater detail in Note 11, Derivative Instruments. The fair value of the Company’s interest rate swap agreement was based on an income approach, which excludes accrued interest, and takes into consideration then-current interest rates and the then-current creditworthiness of the Company or the counterparty, as applicable.
	The carrying amounts reflected in the condensed consolidated balance sheets for cash and cash equivalents, accounts receivable, other current assets, accounts payable and accrued expenses approximate fair value due to their short-term nature. The fair value of the remaining financial instruments not currently recognized at fair value on the Company’s condensed consolidated balance sheets consisted of the $300.0 million, seven-year term loan bearing interest at LIBOR plus 2.75% with a LIBOR floor of 0.75% (“Term Loan B-1”) and the $75.0 million, four-year term loan bearing interest at LIBOR plus 2.75%, with no LIBOR floor (“Term Loan B-2” and together with Term Loan B-1, the “Term Loan Facility”). The estimated fair value of these term loans, which was based on quoted market price indications (Level 2 in the fair value hierarchy) and may not be representative of actual values that could have been or will be realized in the future, was as follows at June 30, 2014:
		Carrying			Estimated
	(In thousands)	Value			Fair Value
	Term Loan B-1	$	292,784		$	294,013
	Term Loan B-2	$	68,348		$	68,438

INVENTORY

INVENTORY	6 Months Ended
	Jun. 30, 2014
INVENTORY	'
INVENTORY	'
	5. INVENTORY
	Inventory is stated at the lower of cost or market value. Cost is determined using the first-in, first-out method. Inventory consisted of the following:
		June 30,		December 31,
	(In thousands)	2014		2013
	Raw materials	$	18,890	$	18,410
	Work in process	19,762		15,581
	Finished goods	18,414		12,227
	Total inventory	$	57,066	$	46,218

PROPERTY_PLANT_AND_EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2014
PROPERTY, PLANT AND EQUIPMENT	'
PROPERTY, PLANT AND EQUIPMENT	'
	6. PROPERTY, PLANT AND EQUIPMENT
	Property, plant and equipment consisted of the following:
		June 30,			December 31,
	(In thousands)	2014			2013
	Land	$	8,163		$	8,440
	Building and improvements	148,298			148,044
	Furniture, fixture and equipment	225,166			220,984
	Leasehold improvements	24,000			23,980
	Construction in progress	31,699			26,688
	Subtotal	437,326			428,136
	Less: accumulated depreciation	(173,079		)	(153,646		)
	Total property, plant and equipment, net	$	264,247		$	274,490
	During the three months ended June 30, 2014, the Company sold certain of its land, buildings and equipment at its Athlone, Ireland facility that had a carrying value of $2.2 million in exchange for $17.5 million. $3.0 million of the sale proceeds will remain in escrow pending the completion of certain additional services the Company is obligated to perform, and will be recognized as “Gain on sale of property, plant and equipment” as the services are provided.

GOODWILL_AND_INTANGIBLE_ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2014
GOODWILL AND INTANGIBLE ASSETS	'
GOODWILL AND INTANGIBLE ASSETS	'
	7. GOODWILL AND INTANGIBLE ASSETS
	Goodwill and intangible assets consisted of the following:
			June 30, 2014
		Weighted	Gross		Accumulated			Net
	(In thousands)	Amortizable Life	Carrying Amount		Amortization			Carrying Amount
	Goodwill		$	92,740	$	—		$	92,740
	Finite-lived intangible assets:
	Collaboration agreements	12	$	499,700	$	(102,810	)	$	396,890
	NanoCrystal technology	13	74,600		(10,760		)	63,840
	OCR technology	12	66,300		(17,130		)	49,170
	Total		$	640,600	$	(130,700	)	$	509,900
	The Company recorded, as “Amortization of acquired intangible assets” in the accompanying condensed consolidated Statements of Operations and Comprehensive (Loss) Income, $27.7 million and $23.0 million of amortization expense related to its finite-lived intangible assets during the six months ended June 30, 2014 and 2013, respectively, all of which related to cost of goods manufactured and sold. Based on the Company’s most recent analysis, amortization of intangible assets included within its condensed consolidated balance sheet at June 30, 2014 is expected to be approximately $60.0 million, $65.0 million, $70.0 million, $70.0 million and $70.0 million in the years ending December 31, 2014 through 2018, respectively. Although the Company believes such available information and assumptions are reasonable, given the inherent risks and uncertainties underlying its expectations regarding such future revenues, there is the potential for the Company’s actual results to vary significantly from such expectations. If revenues are projected to change, the related amortization of the intangible assets will change in proportion to the change in revenues.

ACCOUNTS_PAYABLE_AND_ACCRUED_E

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	6 Months Ended
	Jun. 30, 2014
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
	8. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
	Accounts payable and accrued expenses consisted of the following:
		June 30,		December 31,
	(In thousands)	2014		2013
	Accounts payable	$	21,261	$	19,493
	Accrued compensation	23,196		28,101
	Accrued restructuring	8,161		7,296
	Accrued other	40,415		36,283
	Total accounts payable and accrued expenses	$	93,033	$	91,173

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Jun. 30, 2014
RESTRUCTURING	'
RESTRUCTURING	'
	9. RESTRUCTURING
	On April 4, 2013, the Company approved a restructuring plan at its Athlone, Ireland manufacturing facility consistent with the evolution of the Company’s product portfolio and designed to improve operational performance for the future. The restructuring plan calls for the Company to terminate manufacturing services for certain older products that are expected to no longer be economically practicable to produce due to decreasing demand from its customers resulting from generic competition. The Company expects to continue to generate revenues from the manufacturing of these products through the year ending December 31, 2015.
	As a result of the termination of these services, the Company also implemented a corresponding reduction in headcount of up to 130 employees. In connection with this restructuring plan, during the twelve months ended March 31, 2013, the Company recorded a restructuring charge of $12.3 million, which consisted of severance and outplacement services. The Company has paid in cash $5.1 million in connection with this restructuring plan and recorded an adjustment of $0.5 million to the restructuring accrual due to changes in foreign currency. Restructuring activity during the six months ended June 30, 2014 was as follows:
		Severance and
	(In thousands)	Outplacement Services
	Balance, January 1, 2014	$	10,578
	Payments	(2,804		)
	Adjustments	(106		)
	Balance, June 30, 2014	$	7,668
	At June 30, 2014 and December 31, 2013, $7.7 million and $6.8 million, respectively, of this restructuring accrual was included within “Accounts payable and accrued expenses,” and none and $3.8 million, respectively, was included within “Other long-term liabilities” in the accompanying condensed consolidated balance sheets.

LONGTERM_DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2014
LONG-TERM DEBT	'
LONG-TERM DEBT	'
	10. LONG-TERM DEBT
	Long-term debt consisted of the following:
		June 30,			December 31,
	(In thousands)	2014			2013
	Term Loan B-1, due September 25, 2019	$	292,784		$	294,091
	Term Loan B-2, due September 25, 2016	68,348			70,202
	Total	361,132			364,293
	Less: current portion	(6,750		)	(6,750		)
	Long-term debt	$	354,382		$	357,543

DERIVATIVE_INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2014
DERIVATIVE INSTRUMENTS	'
DERIVATIVE INSTRUMENTS	'
	11. DERIVATIVE INSTRUMENTS
	In September 2011, the Company entered into an interest rate swap agreement with Morgan Stanley Capital Services LLC to mitigate the impact of fluctuations in the three-month LIBOR rate at which the Company’s long-term debt bears interest. The interest rate swap agreement became effective in December 2012, expires in December 2014 and has a notional value of $65.0 million. The Company recorded an immaterial loss and a gain of $0.1 million within “Other income (expense), net” due to the change in fair value of this contract during the six months ended June 30, 2014 and 2013, respectively. The fair value and presentation in the condensed consolidated balance sheets for the Company’s interest rate swap was as follows:
			Fair Value
	(In thousands)	Balance Sheet Location	June 30, 2014			December 31, 2013
	Liability derivative not designated as a cash flow hedge	Other long-term liabilities	$	(92	)	$	(275	)

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2014
SHARE-BASED COMPENSATION	'
SHARE-BASED COMPENSATION	'
	12. SHARE-BASED COMPENSATION
	Share-based compensation expense consisted of the following:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
	(In thousands)	2014		2013		2014		2013
	Cost of goods manufactured and sold	$	1,770	$	1,003	$	4,079	$	2,074
	Research and development	4,079		2,165		7,482		4,304
	Selling, general and administrative	13,489		5,641		21,197		10,312
	Total share-based compensation expense	$	19,338	$	8,809	$	32,758	$	16,690
	At June 30, 2014 and December 31, 2013, $0.6 million and $0.4 million, respectively, of share-based compensation cost was capitalized and recorded as “Inventory” in the accompanying condensed consolidated balance sheets.

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2014
SHAREHOLDERS' EQUITY	'
SHAREHOLDERS' EQUITY	'
	13.  SHAREHOLDERS’ EQUITY
	In January 2014, the Company sold 5,917,160 ordinary shares, $0.01 par value per share, pursuant to its shelf registration statement on Form S-3 at a price of $42.25 per share. The Company received total gross proceeds of $250.0 million, before deducting expenses of $1.6 million associated with the offering.

EARNINGS_LOSS_PER_SHARE

EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2014
EARNINGS (LOSS) PER SHARE	'
EARNINGS (LOSS) PER SHARE	'
	14.  EARNINGS (LOSS) PER SHARE
	Basic earnings (loss) per ordinary share is calculated based upon net income (loss) available to holders of ordinary shares divided by the weighted average number of shares outstanding. For the calculation of diluted earnings (loss) per ordinary share, the Company uses the weighted average number of ordinary shares outstanding, as adjusted for the effect of potential outstanding shares, including stock options and restricted stock units.
		Three Months Ended					Six Months Ended
		June 30,					June 30,
	(In thousands)	2014			2013		2014			2013
	Numerator:
	Net (loss) income	$	3,735		$	7,334	$	(20,619	)	$	10,333
	Denominator:
	Weighted average number of ordinary shares outstanding	144,913			134,602		144,140			133,941
	Effect of dilutive securities:
	Stock options	8,067			7,287		—			6,349
	Restricted stock units	1,320			1,480		—			1,532
	Dilutive ordinary share equivalents	9,387			8,767		—			7,881
	Shares used in calculating diluted earnings (loss) per share	154,300			143,369		144,140			141,822
	The following potential ordinary equivalent shares have not been included in the net income (loss) per ordinary share calculation because the effect would have been anti-dilutive:
		Three Months Ended				Six Months Ended
		June 30,				June 30,
	(In thousands)	2014		2013		2014	2013
	Stock options	1,879		883		9,644	516
	Restricted stock units	695		—		1,892	—
	Total	2,574		883		11,536	516

INCOME_TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	15. INCOME TAXES
	The Company recorded an income tax benefit of $1.5 million and an income tax provision of $2.2 million for the three and six months ended June 30, 2014, respectively and an income tax provision of $2.7 million and $7.6 million for the three and six months ended June 30, 2013, respectively. The income tax provision in the three and six months ended June 30, 2014 and 2013 primarily relates to U.S. Federal and state taxes on income.
	The Company records a deferred tax asset or liability based on the difference between the financial statement and tax basis of its assets and liabilities, as measured by enacted jurisdictional tax rates assumed to be in effect when these differences reverse. At June 30, 2014, the Company maintained a valuation allowance against certain of its U.S. and foreign deferred tax assets.  The Company evaluates, at each reporting period, the need for a valuation allowance on its deferred tax assets on a jurisdiction by jurisdiction basis.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	16. COMMITMENTS AND CONTINGENCIES
	From time to time, the Company may be subject to legal proceedings and claims in the ordinary course of business. For example, the Company is currently involved in various Paragraph IV lawsuits in the U.S. and other proceedings outside of the U.S. involving its patents in respect of FOCALIN XR, TRICOR, RITALIN LA, MEGACE ES and AMPYRA. The Company is not aware of any such proceedings or claims that it believes will have, individually or in the aggregate, a material adverse effect on its business, financial condition, cash flows and results of operations.
	In May 2014, the Company entered into an agreement whereby it is committed to provide up to €7.4 million to a partnership, Fountain Healthcare Partners II, L.P. of Ireland, which was created to carry on the business of investing exclusively in companies and businesses engaged in healthcare, pharmaceutical and life sciences sectors. The Company’s commitment represents approximately 10% of the partnership’s total funding.  At June 30, 2014, the Company had made a payment of $0.5 million, which is included within “Other long-term assets” in the accompanying condensed consolidated balance sheets.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying condensed consolidated financial statements of the Company for the three and six months ended June 30, 2014 and 2013 are unaudited and have been prepared on a basis substantially consistent with the audited financial statements for the nine-month transition period ended December 31, 2013 (the “Transition Period”). The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America (“U.S.”) (commonly referred to as “GAAP”). In the opinion of management, the condensed consolidated financial statements include all adjustments, which are of a normal recurring nature, that are necessary to present fairly the results of operations for the reported periods.
	These financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto of Alkermes, which are contained in the Company’s Transition Report on Form 10-K, which has been filed with the U.S. Securities and Exchange Commission (“SEC”). The results of the Company’s operations for any interim period are not necessarily indicative of the results of the Company’s operations for any other interim period, including the Transition Period, or for a full fiscal year.
Principles of Consolidation	'
	Principles of Consolidation
	The condensed consolidated financial statements include the accounts of Alkermes plc and its wholly owned subsidiaries as disclosed in Note 2: Summary of Significant Accounting Policies within Part II, Item 8 of our Transition Report. During the six months ended June 30, 2014, the following wholly owned subsidiaries were added: Alkermes Science Three Limited; Alkermes Science Four Limited; and Alkermes Science Five Limited. Intercompany accounts and transactions have been eliminated.
Use of Estimates	'
	Use of Estimates
	The preparation of the Company’s condensed consolidated financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. On an ongoing basis, the Company evaluates its estimates and judgments and methodologies, including those related to revenue recognition and related allowances, its collaborative relationships, clinical trial expenses, the valuation of inventory, impairment and amortization of intangibles and long-lived assets, share-based compensation, income taxes including the valuation allowance for deferred tax assets, valuation of investments and derivative instruments, litigation and restructuring charges. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ from these estimates under different assumptions or conditions.
Segment Information	'
	Segment Information
	The Company operates as one business segment, which is the business of developing, manufacturing and commercializing medicines designed to yield better therapeutic outcomes and improve the lives of patients with serious diseases. The Company’s chief decision maker, the Chairman and Chief Executive Officer, reviews the Company’s operating results on an aggregate basis and manages the Company’s operations as a single operating unit.
New Accounting Pronouncements	'
	New Accounting Pronouncements
	From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) or other standard-setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.
	In July 2013, the FASB adopted clarifying guidance on the presentation of unrecognized tax benefits when various qualifying tax credits exist. The amendment requires that unrecognized tax benefits be presented on the consolidated balance sheet as a reduction to deferred tax assets created by net operating losses (‘‘NOLs’’) or other tax credits from prior periods that occur in the same taxing jurisdiction. To the extent that the unrecognized tax benefit exceeds these NOLs or other tax credits, it shall be presented as a liability. This update, required to be adopted for all annual periods and interim reporting periods beginning after December 15, 2013, was adopted by the Company on January 1, 2014. The adoption of this standard did not have a material impact on the presentation of the Company’s financial position.
	In June 2014, the FASB issued guidance that clarifies the accounting for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. Existing GAAP does not contain explicit guidance on how to account for these share-based payments. The new guidance requires that a performance target that affects vesting and that could be achieved after the requisite service period be treated as a performance condition. Entities have the option of prospectively applying the guidance to awards granted or modified after the effective date or retrospectively applying the guidance to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements. The guidance becomes effective for the Company in its year ending December 31, 2016 and early adoption is permitted. The Company is currently assessing the impact that this standard will have on its consolidated financial statements.
	In May 2014, the FASB issued guidance that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. The guidance becomes effective for the Company in its year ending December 31, 2017 and early adoption is not permitted. The Company is currently assessing the impact that this standard will have on its consolidated financial statements.

INVESTMENTS_Tables

INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
INVESTMENTS	'
Schedule of investments	'
				Gross Unrealized
						Losses
		Amortized				Less than			Greater than			Estimated
		Cost		Gains		One Year			One Year			Fair Value
		(In thousands)
	June 30, 2014
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	223,404	$	192	$	—		$	—		$	223,596
	Corporate debt securities	178,720		153		(30		)	—			178,843
	International government agency debt securities	46,492		37		(2		)	—			46,527
		448,616		382		(32		)	—			448,966
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	449,817		382		(32		)	—			450,167
	Long-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	42,082		—		(43		)	(13		)	42,026
	Corporate debt securities	25,793		—		(17		)	(22		)	25,754
	International government agency debt securities	6,080		—		(2		)	—			6,078
		73,955		—		(62		)	(35		)	73,858
	Held-to-maturity securities:
	Certificates of deposit	1,547		—		—			—			1,547
	Total long-term investments	75,502		—		(62		)	(35		)	75,405
	Total investments	$	525,319	$	382	$	(94	)	$	(35	)	$	525,572
	December 31, 2013
	Short-term investments:
	Available-for-sale securities:
	U.S. government and agency debt securities	$	130,669	$	80	$	(1	)	$	—		$	130,748
	Corporate debt securities	38,614		64		(30		)	—			38,648
	International government agency debt securities	24,097		8		(33		)	—			24,072
		193,380		152		(64		)	—			193,468
	Money market funds	1,201		—		—			—			1,201
	Total short-term investments	194,581		152		(64		)	—			194,669
	Long-term investments:
	Available-for-sale securities:
	Equity securities	8,732		21,253		—			—			29,985
	U.S. government and agency debt securities	28,503		—		(61		)	(3		)	28,439
	Corporate debt securities	20,266		—		(30		)	(75		)	20,161
	International government agency debt securities	7,691		—		(5		)	—			7,686
		65,192		21,253		(96		)	(78		)	86,271
	Held-to-maturity securities:
	Certificates of deposit	1,493		—		—			—			1,493
	Total long-term investments	66,685		21,253		(96		)	(78		)	87,764
	Total investments	$	261,266	$	21,405	$	(160	)	$	(78	)	$	282,433
Proceeds from the sales and maturities of marketable securities, plus the resulting realized gains and losses	'
		Six Months Ended
		June 30,
	(In thousands)	2014		2013
	Proceeds from the sales and maturities of marketable securities	$	184,446	$	70,149
	Realized gains	$	15,304	$	46
	Realized losses	$	10	$	5
The cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity	'
		Available-for-sale				Held-to-maturity
		Amortized		Estimated		Amortized			Estimated
	(In thousands)	Cost		Fair Value		Cost			Fair Value
	Within 1 year	$	296,062	$	296,166	$	1,547		$	1,547
	After 1 year through 5 years	226,509		226,658		—			—
	Total	$	522,571	$	522,824	$	1,547		$	1,547

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
FAIR VALUE MEASUREMENTS	'
Summary of the Company's assets and liabilities measured at fair value on a recurring basis	'
		June 30,
	(In thousands)	2014			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	265,622			126,594		139,028			—
	Corporate debt securities	204,597			—		204,597			—
	International government agency debt securities	52,605			—		52,605			—
	Total	$	524,025		$	127,795	$	396,230		$	—
	Liabilities:
	Interest rate swap contract	$	(92	)	$	—	$	(92	)	$	—
	Total	$	(92	)	$	—	$	(92	)	$	—
		December 31,
	(In thousands)	2013			Level 1		Level 2			Level 3
	Assets:
	Cash equivalents	$	1,201		$	1,201	$	—		$	—
	U.S. government and agency debt securities	159,187			63,213		95,974			—
	Corporate debt securities	58,809			—		58,809			—
	International government agency debt securities	31,758			—		31,758			—
	Equity securities	29,985			28,459		—			1,526
	Total	$	280,940		$	92,873	$	186,541		$	1,526
	Liabilities:
	Interest rate swap contract	$	(275	)	$	—	$	(275	)	$	—
	Total	$	(275	)	$	—	$	(275	)	$	—
Schedule of rollforward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs	'
	(In thousands)	Fair Value
	Balance, January 1, 2014	$	1,526
	Total unrealized losses included in other comprehensive (loss) income	(383		)
	Sale of equity securities	(1,143		)
	Balance, June 30, 2014	$	—
Estimated fair value of term loans	'
		Carrying			Estimated
	(In thousands)	Value			Fair Value
	Term Loan B-1	$	292,784		$	294,013
	Term Loan B-2	$	68,348		$	68,438

INVENTORY_Tables

INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2014
INVENTORY	'
Schedule of inventories	'
		June 30,		December 31,
	(In thousands)	2014		2013
	Raw materials	$	18,890	$	18,410
	Work in process	19,762		15,581
	Finished goods	18,414		12,227
	Total inventory	$	57,066	$	46,218

PROPERTY_PLANT_AND_EQUIPMENT_T

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2014
PROPERTY, PLANT AND EQUIPMENT	'
Schedule of property, plant and equipment	'
		June 30,			December 31,
	(In thousands)	2014			2013
	Land	$	8,163		$	8,440
	Building and improvements	148,298			148,044
	Furniture, fixture and equipment	225,166			220,984
	Leasehold improvements	24,000			23,980
	Construction in progress	31,699			26,688
	Subtotal	437,326			428,136
	Less: accumulated depreciation	(173,079		)	(153,646		)
	Total property, plant and equipment, net	$	264,247		$	274,490

GOODWILL_AND_INTANGIBLE_ASSETS1

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2014
GOODWILL AND INTANGIBLE ASSETS	'
Schedule of goodwill and intangible assets	'
			June 30, 2014
		Weighted	Gross		Accumulated			Net
	(In thousands)	Amortizable Life	Carrying Amount		Amortization			Carrying Amount
	Goodwill		$	92,740	$	—		$	92,740
	Finite-lived intangible assets:
	Collaboration agreements	12	$	499,700	$	(102,810	)	$	396,890
	NanoCrystal technology	13	74,600		(10,760		)	63,840
	OCR technology	12	66,300		(17,130		)	49,170
	Total		$	640,600	$	(130,700	)	$	509,900

ACCOUNTS_PAYABLE_AND_ACCRUED_E1

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	6 Months Ended
	Jun. 30, 2014
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'
Schedule of accounts payable and accrued expenses	'
		June 30,		December 31,
	(In thousands)	2014		2013
	Accounts payable	$	21,261	$	19,493
	Accrued compensation	23,196		28,101
	Accrued restructuring	8,161		7,296
	Accrued other	40,415		36,283
	Total accounts payable and accrued expenses	$	93,033	$	91,173

RESTRUCTURING_Tables

RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2014
RESTRUCTURING	'
Schedule of restructuring charges recorded	'
		Severance and
	(In thousands)	Outplacement Services
	Balance, January 1, 2014	$	10,578
	Payments	(2,804		)
	Adjustments	(106		)
	Balance, June 30, 2014	$	7,668

LONGTERM_DEBT_Tables

LONG-TERM DEBT (Tables)	6 Months Ended
	Jun. 30, 2014
LONG-TERM DEBT	'
Schedule of long-term debt	'
		June 30,			December 31,
	(In thousands)	2014			2013
	Term Loan B-1, due September 25, 2019	$	292,784		$	294,091
	Term Loan B-2, due September 25, 2016	68,348			70,202
	Total	361,132			364,293
	Less: current portion	(6,750		)	(6,750		)
	Long-term debt	$	354,382		$	357,543

DERIVATIVE_INSTRUMENTS_Tables

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2014
DERIVATIVE INSTRUMENTS	'
Schedule of fair value and presentation in the condensed consolidated balance sheets for derivatives designated and not designated as hedging instruments	'
			Fair Value
	(In thousands)	Balance Sheet Location	June 30, 2014			December 31, 2013
	Liability derivative not designated as a cash flow hedge	Other long-term liabilities	$	(92	)	$	(275	)

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2014
SHARE-BASED COMPENSATION	'
Schedule of share-based compensation expense	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
	(In thousands)	2014		2013		2014		2013
	Cost of goods manufactured and sold	$	1,770	$	1,003	$	4,079	$	2,074
	Research and development	4,079		2,165		7,482		4,304
	Selling, general and administrative	13,489		5,641		21,197		10,312
	Total share-based compensation expense	$	19,338	$	8,809	$	32,758	$	16,690

EARNINGS_LOSS_PER_SHARE_Tables

EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2014
EARNINGS (LOSS) PER SHARE	'
Schedule of weighted average number of ordinary shares outstanding, as adjusted for the effect of potential outstanding shares, including stock options and restricted stock units	'
		Three Months Ended					Six Months Ended
		June 30,					June 30,
	(In thousands)	2014			2013		2014			2013
	Numerator:
	Net (loss) income	$	3,735		$	7,334	$	(20,619	)	$	10,333
	Denominator:
	Weighted average number of ordinary shares outstanding	144,913			134,602		144,140			133,941
	Effect of dilutive securities:
	Stock options	8,067			7,287		—			6,349
	Restricted stock units	1,320			1,480		—			1,532
	Dilutive ordinary share equivalents	9,387			8,767		—			7,881
	Shares used in calculating diluted earnings (loss) per share	154,300			143,369		144,140			141,822
Schedule of anti-dilutive potential ordinary equivalent shares excluded from calculation of net income (loss) per share	'
		Three Months Ended				Six Months Ended
		June 30,				June 30,
	(In thousands)	2014		2013		2014	2013
	Stock options	1,879		883		9,644	516
	Restricted stock units	695		—		1,892	—
	Total	2,574		883		11,536	516

THE_COMPANY_Details

THE COMPANY (Details)	6 Months Ended
	Jun. 30, 2014
	product
THE COMPANY	'
Minimum number of commercial drug products in Company's diversified portfolio	20

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2014
	item
Segment Information	'
Number of business segments	1

INVESTMENTS_Details

INVESTMENTS (Details) (USD $)	6 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Held-to-maturity securities:	'	'
Estimated Fair Value	$1,547	'
Total investments	'	'
Amortized Cost	525,319	261,266
Gross Unrealized Gains	382	21,405
Gross Unrealized Losses, Less than One Year	-94	-160
Gross Unrealized Losses, Greater than One Year	-35	-78
Estimated Fair Value	525,572	282,433
Short-term investments	'	'
Available-for-sale securities:	'	'
Amortized Cost	448,616	193,380
Gross Unrealized Gains	382	152
Gross Unrealized Losses, Less than One Year	-32	-64
Estimated Fair Value	448,966	193,468
Total investments	'	'
Amortized Cost	449,817	194,581
Gross Unrealized Gains	382	152
Gross Unrealized Losses, Less than One Year	-32	-64
Estimated Fair Value	450,167	194,669
Short-term investments | Money market funds	'	'
Total investments	'	'
Amortized Cost	1,201	1,201
Estimated Fair Value	1,201	1,201
Short-term investments | U.S. government and agency debt securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	223,404	130,669
Gross Unrealized Gains	192	80
Gross Unrealized Losses, Less than One Year	'	-1
Estimated Fair Value	223,596	130,748
Short-term investments | Corporate debt securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	178,720	38,614
Gross Unrealized Gains	153	64
Gross Unrealized Losses, Less than One Year	-30	-30
Estimated Fair Value	178,843	38,648
Short-term investments | International government agency debt securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	46,492	24,097
Gross Unrealized Gains	37	8
Gross Unrealized Losses, Less than One Year	-2	-33
Estimated Fair Value	46,527	24,072
Long-term investments	'	'
Available-for-sale securities:	'	'
Amortized Cost	73,955	65,192
Gross Unrealized Gains	'	21,253
Gross Unrealized Losses, Less than One Year	-62	-96
Gross Unrealized Losses, Greater than One Year	-35	-78
Estimated Fair Value	73,858	86,271
Held-to-maturity securities:	'	'
Amortized Cost	75,502	66,685
Gross Unrealized Gains	'	21,253
Gross Unrealized Losses, Less than One Year	-62	-96
Gross Unrealized Losses, Greater than One Year	-35	-78
Estimated Fair Value	75,405	87,764
Long-term investments | Certificates of deposit	'	'
Held-to-maturity securities:	'	'
Amortized Cost	1,547	1,493
Estimated Fair Value	1,547	1,493
Long-term investments | Equity securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	'	8,732
Gross Unrealized Gains	'	21,253
Estimated Fair Value	'	29,985
Long-term investments | U.S. government and agency debt securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	42,082	28,503
Gross Unrealized Losses, Less than One Year	-43	-61
Gross Unrealized Losses, Greater than One Year	-13	-3
Estimated Fair Value	42,026	28,439
Long-term investments | Corporate debt securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	25,793	20,266
Gross Unrealized Losses, Less than One Year	-17	-30
Gross Unrealized Losses, Greater than One Year	-22	-75
Estimated Fair Value	25,754	20,161
Long-term investments | International government agency debt securities	'	'
Available-for-sale securities:	'	'
Amortized Cost	6,080	7,691
Gross Unrealized Losses, Less than One Year	-2	-5
Estimated Fair Value	$6,078	$7,686

INVESTMENTS_Details_2

INVESTMENTS (Details 2) (USD $)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2013
INVESTMENTS	'	'	'
Proceeds from the sales and maturities of marketable securities	'	$184,446,000	$70,149,000
Realized gains	'	15,304,000	46,000
Realized losses	'	10,000	5,000
Proceeds from sale of investments in Acceleron Pharma Inc.	24,000,000	'	'
Realized gain on sale of investment in Acceleron Pharma Inc.	$15,296,000	$15,296,000	'

INVESTMENTS_Details_3

INVESTMENTS (Details 3) (USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Available-for-sale, Amortized Cost	'
Within 1 year	$296,062
After 1 year through 5 years	226,509
Total	522,571
Available-for-sale, Estimated Fair Value	'
Within 1 year	296,166
After 1 year through 5 years	226,658
Total	522,824
Held-to-maturity, Amortized Cost	'
Within 1 year	1,547
Total	1,547
Held-to-maturity, Estimated Fair Value	'
Within 1 year	1,547
Estimated Fair Value	$1,547

INVESTMENTS_Details_4

INVESTMENTS (Details 4) (Civitas, USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Civitas	'	'
Equity method investment	'	'
Carrying value of equity investment	$0	$2
Reduction in carrying value of investment of the entity, which represents the Company's share of investee's net losses	($2)	'

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (Recurring basis, USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Level 1	'	'
Fair value	'	'
Assets, Total	$127,795	$92,873
Level 2	'	'
Fair value	'	'
Assets, Total	396,230	186,541
Liabilities, Total	-92	-275
Level 3	'	'
Fair value	'	'
Assets, Total	'	1,526
Total	'	'
Fair value	'	'
Assets, Total	524,025	280,940
Liabilities, Total	-92	-275
Interest rate swap contract | Level 2	'	'
Fair value	'	'
Interest rate swap contract	-92	-275
Interest rate swap contract | Total	'	'
Fair value	'	'
Interest rate swap contract	-92	-275
Cash equivalents | Level 1	'	'
Fair value	'	'
Available for sale securities	1,201	1,201
Cash equivalents | Total	'	'
Fair value	'	'
Available for sale securities	1,201	1,201
U.S. government and agency debt securities | Level 1	'	'
Fair value	'	'
Available for sale securities	126,594	63,213
U.S. government and agency debt securities | Level 2	'	'
Fair value	'	'
Available for sale securities	139,028	95,974
U.S. government and agency debt securities | Total	'	'
Fair value	'	'
Available for sale securities	265,622	159,187
Corporate debt securities | Level 2	'	'
Fair value	'	'
Available for sale securities	204,597	58,809
Corporate debt securities | Total	'	'
Fair value	'	'
Available for sale securities	204,597	58,809
International government agency debt securities | Level 2	'	'
Fair value	'	'
Available for sale securities	52,605	31,758
International government agency debt securities | Total	'	'
Fair value	'	'
Available for sale securities	52,605	31,758
Equity securities | Level 1	'	'
Fair value	'	'
Available for sale securities	'	28,459
Equity securities | Level 3	'	'
Fair value	'	'
Available for sale securities	'	1,526
Equity securities | Total	'	'
Fair value	'	'
Available for sale securities	'	$29,985

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
	item
Roll forward of the fair value of the Company's investments whose fair value was determined using Level 3 inputs	'
Number of investments transferred from level 1 to level 2	0
Number of investments transferred from level 2 to level 1	0
Balance at the beginning of the period	$1,526
Total unrealized losses included in other comprehensive (loss) income	-383
Sale of equity securities	($1,143)

FAIR_VALUE_MEASUREMENTS_Detail2

FAIR VALUE MEASUREMENTS (Details 3) (USD $)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Estimated fair value of the Term Loans	'	'
Carrying Value	$361,132,000	$364,293,000
Term Loan B-1	'	'
Estimated fair value of the Term Loans	'	'
Fair value of remaining financial instruments not recognized at fair value	300,000,000	'
Term loans maturity period	'7 years	'
Variable interest rate base	'LIBOR	'
Carrying Value	292,784,000	294,091,000
Estimated Fair Value	294,013,000	'
Term Loan B-2	'	'
Estimated fair value of the Term Loans	'	'
Fair value of remaining financial instruments not recognized at fair value	75,000,000	'
Term loans maturity period	'4 years	'
Variable interest rate base	'LIBOR	'
Carrying Value	68,348,000	70,202,000
Estimated Fair Value	$68,438,000	'
LIBOR | Term Loan B-1	'	'
Estimated fair value of the Term Loans	'	'
Interest rate added to base rate (as a percent)	2.75%	'
Interest rate, variable interest rate floor (as a percent)	0.75%	'
LIBOR | Term Loan B-2	'	'
Estimated fair value of the Term Loans	'	'
Interest rate added to base rate (as a percent)	2.75%	'
Interest rate, variable interest rate floor (as a percent)	0.00%	'

INVENTORY_Details

INVENTORY (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
INVENTORY	'	'
Raw materials	$18,890	$18,410
Work in process	19,762	15,581
Finished goods	18,414	12,227
Total inventory	$57,066	$46,218

PROPERTY_PLANT_AND_EQUIPMENT_D

PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)

6 Months Ended

3 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Athlone, Ireland facility

Land

Land

Buildings and improvements

Buildings and improvements

Furniture, fixtures and equipment

Furniture, fixtures and equipment

Leasehold improvements

Leasehold improvements

Construction in progress

Construction in progress

Property, plant and equipment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Subtotal

$437,326,000

'

$428,136,000

'

$8,163,000

$8,440,000

$148,298,000

$148,044,000

$225,166,000

$220,984,000

$24,000,000

$23,980,000

$31,699,000

$26,688,000

Less: accumulated depreciation

-173,079,000

'

-153,646,000

'

'

'

'

'

'

'

'

'

'

'

Total property, plant and equipment, net

264,247,000

'

274,490,000

'

'

'

'

'

'

'

'

'

'

'

Carrying value at the time of sold

'

'

'

2,200,000

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of property, plant and equipment

14,361,000

125,000

'

17,500,000

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of property, plant and equipment which remain in escrow account

'

'

'

$3,000,000

'

'

'

'

'

'

'

'

'

'

GOODWILL_AND_INTANGIBLE_ASSETS2

GOODWILL AND INTANGIBLE ASSETS (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014
In Thousands, unless otherwise specified			Collaboration agreements	NanoCrystal technology	OCR technology
Intangible assets	'	'	'	'	'
Gross Carrying Amount	$92,740	'	'	'	'
Goodwill	92,740	92,740	'	'	'
Finite-lived intangible assets:	'	'	'	'	'
Weighted Amortizable Life	'	'	'12 years	'13 years	'12 years
Gross Carrying Amount	640,600	'	499,700	74,600	66,300
Accumulated Amortization	-130,700	'	-102,810	-10,760	-17,130
Net Carrying Amount	$509,900	'	$396,890	$63,840	$49,170

GOODWILL_AND_INTANGIBLE_ASSETS3

GOODWILL AND INTANGIBLE ASSETS (Details 2) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
GOODWILL AND INTANGIBLE ASSETS	'	'	'	'
Amortization expense	$15,089,000	$12,716,000	$27,665,000	$23,038,000
Expected amortization of intangible assets	'	'	'	'
2014	60,000,000	'	60,000,000	'
2015	65,000,000	'	65,000,000	'
2016	70,000,000	'	70,000,000	'
2017	70,000,000	'	70,000,000	'
2018	$70,000,000	'	$70,000,000	'

ACCOUNTS_PAYABLE_AND_ACCRUED_E2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	'	'
Accounts payable	$21,261	$19,493
Accrued compensation	23,196	28,101
Accrued restructuring	8,161	7,296
Accrued other	40,415	36,283
Total accounts payable and accrued expenses	$93,033	$91,173

RESTRUCTURING_Details

RESTRUCTURING (Details) (USD $)	6 Months Ended		12 Months Ended					6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2014
				Accounts payable and accrued expenses	Accounts payable and accrued expenses	Other long-term liabilities	Other long-term liabilities	Athlone, Ireland manufacturing facility	Severance and outplacement services
								Maximum
								item
Restructuring activity	'	'	'	'	'	'	'	'	'
Number of employees eliminated	'	'	'	'	'	'	'	130	'
Cash paid for restructuring costs	$5,100,000	'	'	'	'	'	'	'	'
Foreign currency adjustment	500,000	'	'	'	'	'	'	'	'
Restructuring activity	'	'	'	'	'	'	'	'	'
Balance at beginning of the period	7,296,000	'	'	7,700,000	6,800,000	0	3,800,000	'	10,578,000
Payments	'	-12,300,000	-12,300,000	'	'	'	'	'	-2,804,000
Adjustments	'	'	'	'	'	'	'	'	-106,000
Balance at end of the period	8,161,000	'	'	7,700,000	6,800,000	0	3,800,000	'	7,668,000
Restructuring accrual	'	'	'	'	'	'	'	'	'
Restructuring accrual	$8,161,000	'	'	$7,700,000	$6,800,000	$0	$3,800,000	'	$7,668,000

LONGTERM_DEBT_Details

LONG-TERM DEBT (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Long-term debt	'	'
Total	$361,132	$364,293
Less: current portion	-6,750	-6,750
Long-term debt	354,382	357,543
Term Loan B-1, due September 25, 2019	'	'
Long-term debt	'	'
Total	292,784	294,091
Term Loan B-2, due September 25, 2016	'	'
Long-term debt	'	'
Total	$68,348	$70,202

DERIVATIVE_INSTRUMENTS_Details

DERIVATIVE INSTRUMENTS (Details) (Interest rate swap, USD $)	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2011	Jun. 30, 2014	Dec. 31, 2013
				Not designated as hedging instrument	Not designated as hedging instrument
Derivative instruments	'	'	'	'	'
Variable interest rate base	'three-Month LIBOR	'	'	'	'
Notional value	'	'	$65,000,000	'	'
Loss (gain) on derivative instrument due to change in fair value of the contract	100,000	-100,000	'	'	'
Fair value of derivative instrument	'	'	'	($92,000)	($275,000)

SHAREBASED_COMPENSATION_Detail

SHARE-BASED COMPENSATION (Details) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Share-based Compensation Expense	'	'	'	'	'
Total share-based compensation expense	$19,338,000	$8,809,000	$32,758,000	$16,690,000	'
Share based compensation cost capitalized	'	'	600,000	'	400,000
Cost of goods manufactured and sold	'	'	'	'	'
Share-based Compensation Expense	'	'	'	'	'
Total share-based compensation expense	1,770,000	1,003,000	4,079,000	2,074,000	'
Research and development	'	'	'	'	'
Share-based Compensation Expense	'	'	'	'	'
Total share-based compensation expense	4,079,000	2,165,000	7,482,000	4,304,000	'
Selling, general and administrative	'	'	'	'	'
Share-based Compensation Expense	'	'	'	'	'
Total share-based compensation expense	$13,489,000	$5,641,000	$21,197,000	$10,312,000	'

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)	1 Months Ended	6 Months Ended
	Jan. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
SHAREHOLDERS' EQUITY	'	'	'
Number of ordinary shares sold	5,917,160	'	'
Ordinary shares, par value (in dollars per share)	$0.01	$0.01	$0.01
Purchase price (in dollars per share)	$42.25	'	'
Gross proceeds from issuance	$250,000,000	$248,406,000	'
Offering expenses	$1,600,000	'	'

EARNINGS_LOSS_PER_SHARE_Detail

EARNINGS (LOSS) PER SHARE (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Numerator:	'	'	'	'
Net (loss) income	$3,735	$7,334	($20,619)	$10,333
Denominator:	'	'	'	'
Weighted average number of ordinary shares outstanding	144,913	134,602	144,140	133,941
Effect of dilutive securities:	'	'	'	'
Dilutive ordinary share equivalents (in shares)	9,387	8,767	'	7,881
Shares used in calculating diluted earnings (loss) per share	154,300	143,369	144,140	141,822
Stock options	'	'	'	'
Effect of dilutive securities:	'	'	'	'
Dilutive ordinary share equivalents (in shares)	8,067	7,287	'	6,349
Restricted stock units	'	'	'	'
Effect of dilutive securities:	'	'	'	'
Dilutive ordinary share equivalents (in shares)	1,320	1,480	'	1,532

EARNINGS_LOSS_PER_SHARE_Detail1

EARNINGS (LOSS) PER SHARE (Details 2)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Denominator:	'	'	'	'
Anti-dilutive potential common equivalent shares excluded from calculation of net (loss) income per share	2,574	883	11,536	516
Stock options	'	'	'	'
Denominator:	'	'	'	'
Anti-dilutive potential common equivalent shares excluded from calculation of net (loss) income per share	1,879	883	9,644	516
Restricted stock units	'	'	'	'
Denominator:	'	'	'	'
Anti-dilutive potential common equivalent shares excluded from calculation of net (loss) income per share	695	'	1,892	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
INCOME TAXES	'	'	'	'
Income tax provision (benefit)	($1,523)	$2,718	$2,243	$7,585

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details)	Jun. 30, 2014	31-May-14
In Millions, unless otherwise specified	USD ($)	EUR (€)
COMMITMENTS AND CONTINGENCIES	'	'
Amount committed	'	€ 7.40
Funding commitment as percentage of partnership's total funding	'	10.00%
Advances made under partnership funding	$0.50	'