Akorn (AKRX) 10-K 1 Mar 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Feb. 17, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	AKORN INC
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		124,415,759
Entity Public Float			$ 2,410.5
Amendment Flag	false
Entity Central Index Key	3,116
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	$ 200,772	$ 346,266
Trade accounts receivable, net	283,154	150,621
Inventories, net	174,793	185,316
Available-for-sale securities	1,106	5,941
Prepaid expenses and other current assets	25,986	19,988
TOTAL CURRENT ASSETS	685,811	708,132
PROPERTY, PLANT AND EQUIPMENT, NET	238,404	179,614
OTHER LONG-TERM ASSETS
Goodwill	284,293	284,710
Intangible assets, net	758,854	864,989
Deferred tax assets	5,286	4,207
Long-term investments	9	129
Other non-current assets	1,063	764
TOTAL OTHER LONG-TERM ASSETS	1,049,505	1,154,799
TOTAL ASSETS	1,973,720	2,042,545
CURRENT LIABILITIES
Trade accounts payable	59,534	46,019
Purchase consideration payable	4,994	4,967
Income taxes payable	16,198	23,670
Accrued royalties	15,044	19,378
Accrued compensation	19,113	15,866
Current maturities of long-term debt (net of current deferred financing costs)	0	52,779
Accrued administrative fees	36,436	37,094
Accrued expenses and other liabilities	24,236	31,603
TOTAL CURRENT LIABILITIES	175,555	231,376
LONG-TERM LIABILITIES
Long-term debt (net of non-current deferred financing costs)	809,979	994,033
Deferred tax liability	157,607	188,808
Other long-term liabilities	11,395	6,763
TOTAL LONG-TERM LIABILITIES	978,981	1,189,604
TOTAL LIABILITIES	1,154,536	1,420,980
SHAREHOLDERS’ EQUITY
Common stock, no par value — 150,000,000 shares authorized; 124,390,217 and 119,427,471 shares issued and outstanding at December 31, 2016 and 2015	521,860	458,659
Retained earnings	319,291	180,048
Accumulated other comprehensive loss	(21,967)	(17,142)
TOTAL SHAREHOLDERS’ EQUITY	819,184	621,565
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,973,720	$ 2,042,545

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, no par value (in Dollars per share)
Common stock, authorized	150,000,000	150,000,000
Common stock, issued	124,390,217	119,427,471
Common stock, outstanding	124,390,217	119,427,471

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenue, Net	$ 1,116,843	$ 985,076	$ 555,048
Cost of sales (exclusive of amortization of intangibles, included within operating expenses below)	442,572	389,064	293,688
GROSS PROFIT	674,271	596,012	261,360
Selling, general and administrative expenses	197,501	162,205	92,955
Acquisition-related costs	364	1,841	32,840
Research and development expenses	42,603	40,707	31,256
Amortization of Intangible Assets	65,713	66,272	43,493
Impairment of intangible assets	40,519	30,376	0
TOTAL OPERATING EXPENSES	346,700	301,401	200,544
OPERATING INCOME	327,571	294,611	60,816
Amortization of deferred financing costs	(10,791)	(4,283)	(9,985)
Interest expense, net	(42,734)	(51,973)	(35,657)
Bargain purchase gain	0	849	0
Gain from product divestiture	0	0	9,297
Other non-operating income, net	(2,746)	(7,048)	871
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	271,300	232,156	25,342
Income tax provision	87,057	81,358	10,954
INCOME FROM CONTINUING OPERATIONS	184,243	150,798	14,388
Loss from discontinued operations, net of tax	0	0	(504)
CONSOLIDATED NET INCOME	$ 184,243	$ 150,798	$ 13,884
CONSOLIDATED NET INCOME PER COMMON SHARE:
Income from continuing operations, basic (in Dollars per share)	$ 1.50	$ 1.29	$ 0.14
Loss from discontinued operations, basic (in Dollars per share)	0	0	(0.01)
CONSOLIDATED NET INCOME, BASIC (in Dollars per share)	1.50	1.29	0.13
Income from continuing operations, diluted (in Dollars per share)	1.47	1.22	0.13
Loss from discontinued operations, diluted (in Dollars per share)	0	0	0
CONSOLIDATED NET INCOME, DILUTED (in Dollars per share)	$ 1.47	$ 1.22	$ 0.13
SHARES USED IN COMPUTING CONSOLIDATED NET INCOME PER COMMON SHARE:
BASIC (in Shares)	122,869	116,980	103,480
DILUTED (in Shares)	125,801	125,762	109,588
COMPREHENSIVE INCOME:
Consolidated net income	$ 184,243	$ 150,798	$ 13,884
Unrealized holding gain (loss) on available-for-sale securities, net of tax of ($436), ($61) and $663 for the years ended December 31, 2016, 2015 and 2014, respectively.	740	104	(1,124)
Foreign currency translation loss for the years ended December 31, 2016, 2015 and 2014, respectively.	(1,941)	(2,051)	(1,704)
Pension liability adjustment, net of tax of $694 for the year ended December 31, 2016.	(3,624)	0	0
COMPREHENSIVE INCOME	$ 179,418	$ 148,851	$ 11,056

Consolidated Statements of Com5

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Unrealized holding gain (loss) on available-for-sale securities, tax (expense) benefit	$ (436)	$ (61)	$ 663
Pension and liability adjustment, tax benefit	$ 694	$ 0	$ 0

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Warrants to acquire Common Stock	Retained Earnings	Other Comprehensive Loss
BALANCES AT at Dec. 31, 2013	$ 260,180	$ 239,235	$ 17,946	$ 15,366	$ (12,367)
BALANCES AT (in Shares) at Dec. 31, 2013		96,569,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income	13,884			13,884
Exercise of stock options	8,013	$ 8,013
Exercise of stock options (in Shares)		4,226,000
Employee stock purchase plan issuance	829	$ 829
Employee stock purchase plan issuance (in Shares)		73,000
Restricted stock units	1,188	$ 1,188
Restricted stock units (in Shares)		16,000
Stock-based compensation expense	6,564	$ 6,564
Foreign currency translation loss	(1,704)				(1,704)
Excess tax benefit - stock compensation	29,517	29,517
Unrealized holding loss on available-for-sale securities	(1,124)				(1,124)
Convertible securities	30,789	$ 30,789
Convertible securities (in Shares)		3,659,000
Akorn AG pension liability adjustment	0
Exercise of warrants	8,171	$ 26,117	(17,946)
Exercise of warrants (in Shares)		7,192,000
BALANCES AT at Dec. 31, 2014	356,307	$ 342,252	0	29,250	(15,195)
BALANCES AT (in Shares) at Dec. 31, 2014		111,735,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income	150,798			150,798
Exercise of stock options	10,503	$ 10,503
Exercise of stock options (in Shares)		2,514,000
Employee stock purchase plan issuance	1,413	$ 1,413
Employee stock purchase plan issuance (in Shares)		66,000
Restricted stock units	3,814	$ 3,814
Restricted stock units (in Shares)		16,000
Stock-based compensation expense	9,183	$ 9,183
Foreign currency translation loss	(2,051)				(2,051)
Excess tax benefit - stock compensation	47,997	47,997
Unrealized holding loss on available-for-sale securities	104				104
Convertible securities	43,497	$ 43,497
Convertible securities (in Shares)		5,096,000
Akorn AG pension liability adjustment	0
BALANCES AT at Dec. 31, 2015	$ 621,565	$ 458,659	0	180,048	(17,142)
BALANCES AT (in Shares) at Dec. 31, 2015	119,427,471	119,427,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Consolidated net income	$ 184,243			184,243
Common stock repurchases (in Shares)		(1,808,000)
Common stock repurchases	(45,000)			(45,000)
Exercise of stock options	13,953	$ 13,953
Exercise of stock options (in Shares)		1,792,000
Restricted stock units	4,091	$ 4,091
Restricted stock units (in Shares)		184,000
Stock-based compensation expense	11,321	$ 11,321
Foreign currency translation loss	(1,941)				(1,941)
Stock compensation plan withholdings for employee taxes	(4,158)	$ (4,158)
Stock compensation plan withholdings for employee taxes (in Shares)		(138,000)
Unrealized holding loss on available-for-sale securities	740				740
Convertible securities	43,215	$ 43,215
Convertible securities (in Shares)		4,933,000
Akorn AG pension liability adjustment	(3,624)				(3,624)
Other	(5,221)	$ (5,221)
BALANCES AT at Dec. 31, 2016	$ 819,184	$ 521,860	$ 0	$ 319,291	$ (21,967)
BALANCES AT (in Shares) at Dec. 31, 2016	124,390,217	124,390,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Consolidated net income	$ 184,243	$ 150,798	$ 13,884
Loss from discontinued operations, net of tax	0	0	504
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Depreciation and amortization	87,963	86,924	57,831
Impairment of intangible assets	44,369	33,003	0
Amortization of deferred financing fees	10,760	4,350	9,984
Amortization of favorable (unfavorable) contracts	0	71	71
Amortization of inventory step-up	0	4,681	20,798
Non-cash stock compensation expense	15,412	12,997	7,752
Non-cash interest expense	777	2,778	4,871
Non-cash gain on bargain purchase	0	(849)	0
Gain from product divestiture	0	0	(9,329)
Deferred income taxes, net	(32,934)	(46,130)	(17,511)
Excess tax benefit from stock compensation	0	(47,997)	(29,517)
Loss on extinguishment of debt	0	1,243	990
Gain (loss) on sale of available-for-sale security	45	237	(7)
Other	(4,888)	0	0
Changes in operating assets and liabilities:
Trade accounts receivable, net	(132,617)	40,287	(72,796)
Inventories, net	10,208	(50,729)	(19,385)
Prepaid expenses and other current assets	(6,494)	17,574	30,372
Trade accounts payable	6,139	(4,819)	13,963
Accrued expenses and other liabilities	(15,224)	93,229	27,967
NET CASH PROVIDED BY OPERATING ACTIVITIES	167,759	297,648	40,442
INVESTING ACTIVITIES:
Payments for acquisitions and equity investments, net of cash acquired	0	(24,408)	(987,428)
Proceeds from disposal of assets	5,966	2,459	59,361
Payments for other intangible assets	(3,950)	(3,835)	(8,908)
Purchases of property, plant and equipment	(74,938)	(27,934)	(29,899)
NET CASH USED IN INVESTING ACTIVITIES	(72,922)	(53,718)	(966,874)
FINANCING ACTIVITIES:
Proceeds from issuances of debt	0	0	1,045,000
Proceeds under stock option and stock purchase plans	9,795	11,916	8,842
Payments of contingent acquisition liabilities	0	(8,991)	(15,000)
Debt financing costs	(5,128)	(8,564)	(28,365)
Proceeds from warrant exercises	0	0	8,171
Excess tax benefits from stock compensation	0	47,997	29,517
Common stock repurchases	(45,000)	0	0
Debt repayment	(200,000)	(10,450)	(85,049)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(240,333)	31,908	963,116
Effect of changes in exchange rates on cash and cash equivalents	2	(251)	(183)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(145,494)	275,587	36,501
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR	346,266	70,679	34,178
CASH AND CASH EQUIVALENTS AT END OF YEAR	$ 200,772	$ 346,266	$ 70,679

Business and Basis of Presentat

Business and Basis of Presentation	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation Business: Akorn, Inc., together with its wholly-owned subsidiaries (collectively “Akorn,” the “Company,” “we,” “our” or “us”) is a specialty generic pharmaceutical company that develops, manufactures and markets generic and branded prescription pharmaceuticals and branded and private-label over-the-counter (“OTC”) consumer health products and animal health pharmaceuticals. We are an industry leader in the development, manufacturing and marketing of specialized generic pharmaceutical products. We specialize in difficult-to-manufacture sterile and non-sterile dosage forms including, but not limited to, ophthalmics, injectables, oral liquids, otics, topicals, inhalants and nasal sprays. In previous years the Company completed numerous mergers, acquisitions, product acquisitions, divestitures and dispositions, which resulted in significant growth. Akorn is a Louisiana corporation founded in 1971 in Abita Springs, Louisiana. In 1997, we relocated our corporate headquarters to the Chicago, Illinois area and currently maintain our principal corporate offices in Lake Forest, Illinois. We operate pharmaceutical manufacturing facilities in Decatur, Illinois; Somerset, New Jersey; Amityville, New York; Hettlingen, Switzerland; and Paonta Sahib, Himachal Pradesh, India. We also operate a central distribution warehouse in Gurnee, Illinois and additional warehouse facilities in Amityville, New York and Decatur, Illinois. Our R&D centers are located in Vernon Hills, Illinois; Copiague, New York; and Cranbury, New Jersey. In the fourth quarter of 2016 we moved our previous R&D center in Warminster, Pennsylvania to Copiague, New York. We also have other corporate offices in Ann Arbor, Michigan and Gurgaon, Haryana, India. The Company has considered the accounting and disclosure of events occurring after the balance sheet date of December 31, 2016 through the filing date of this Form 10-K. Certain prior-period amounts have been reclassified to conform to current-period presentation including current and non-current deferred tax assets and liabilities and short-term and long-term deferred financing fee and debt disclosure on the consolidated balance sheet.

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 Consolidation: The accompanying consolidated financial statements include the accounts of Akorn, Inc. and its wholly owned domestic and foreign subsidiaries. All inter-company transactions and balances have been eliminated in consolidation, and the financial statements of Akorn India Private Label (“AIPL”) and Akorn AG have been translated from Indian Rupees to U.S. dollars and Swiss Francs to U.S. dollars, respectively, based on the currency translation rates in effect during the period or as of the date of consolidation, as applicable. The Company has no involvement with variable interest entities. Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Significant estimates and assumptions for the Company relate to the allowances for chargebacks, rebates, product returns, coupons, promotions and doubtful accounts, as well as the reserve for slow-moving and obsolete inventories, the carrying value and lives of intangible assets, the useful lives of fixed assets, the carrying value of deferred income tax assets and liabilities, the assumptions underlying share-based compensation, accrued but unreported employee benefit costs and assumptions underlying the accounting for business combinations. Going Concern: In connection with the preparation of the financial statements for the year ended December 31, 2016 , the Company conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity's ability to continue as a going concern within one year after the date of the issuance, or the date of availability, of the financial statements to be issued, noting that there did not appear to be evidence of substantial doubt of the entity's ability to continue as a going concern. Revenue Recognition: Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable, and collectability is reasonably assured. Revenues from product sales are recognized when title and risk of loss have passed to the customer. Provision for estimated chargebacks, rebates, discounts, managed care rebates, product returns and doubtful accounts is made at the time of sale and is analyzed and adjusted, if necessary, at each balance sheet date. Freight: The Company records amounts billed to customers for shipping and handling as revenue, and records shipping and handling expense related to product sales as cost of sales. Cash and Cash Equivalents: The Company considers all unrestricted, highly liquid investments with maturity of three months or less when purchased to be cash and cash equivalents. At December 31, 2016 and 2015, approximately $3.3 million and $4.3 million of cash held by AIPL as of those dates was restricted, and was reported within prepaid expenses and other current assets and other non-current assets , respectively. Accounts Receivable: Trade accounts receivable are stated at their net realizable value. The nature of the Company’s business involves, in the ordinary course, significant judgments and estimates relating to chargebacks, coupon redemption, product returns, rebates, discounts given to customers and allowances for doubtful accounts. Depending on the products, the customers, the specific terms of national supply contracts and the particular arrangements with the Company’s wholesaler customers, rebates, chargebacks and other credits are recorded as deductions to the Company’s trade accounts receivable. Unless otherwise noted, the provisions and allowances for the following customer deductions are reflected in the accompanying consolidated financial statements as reductions of revenues and trade accounts receivable, respectively. Chargebacks: The Company enters into contractual agreements with certain third parties such as retailers, hospitals, group-purchasing organizations (“GPOs”) and managed care organizations to sell certain products at predetermined prices. Similarly, we maintain an allowance for rebates and discounts related to billbacks, wholesaler fee for service contracts, GPO administrative fees, government programs, prompt payment and other adjustments with certain customers. Most of the parties have elected to have these contracts administered through wholesalers that buy the product from the Company and subsequently sell it to these third parties. As noted elsewhere, these wholesalers represent a significant percentage of the Company’s gross sales. When a wholesaler sells products to one of these third parties that are subject to a contractual price agreement, the difference between the price paid to the Company by the wholesaler and the price under the specific contract is charged back to the Company by the wholesaler. This process typically takes four to six weeks, but for some products may extend out to twelve weeks. The Company tracks sales and submitted chargebacks by product number and contract for each wholesaler. Utilizing this information, the Company estimates a chargeback percentage for each product and records an allowance as a reduction to gross sales when the Company records its sale of the products. The Company reduces the chargeback allowance when a chargeback request from a wholesaler is processed. Actual chargebacks processed by the Company can vary materially from period to period based upon actual sales volume through the wholesalers. However, the Company’s provision for chargebacks is fully reserved for at the time when sales revenues are recognized. Management obtains product inventory reports from certain wholesalers to aid in analyzing the reasonableness of the chargeback allowance and to monitor whether wholesaler inventory levels do not significantly exceed customer demand. The Company assesses the reasonableness of its chargeback allowance by applying a product chargeback percentage that is based on a combination of historical activity and future price and mix expectations to the quantities of inventory on hand at the wholesalers according to wholesaler inventory reports. In addition, the Company estimates the percentage of gross sales that were generated through direct and indirect sales channels and the percentage of contract vs. non-contract revenue in the period, as these each affect the estimated reserve calculation. In accordance with its accounting policy, the Company estimates the percentage amount of wholesaler inventory that will ultimately be sold to third parties that are subject to contractual price agreements based on a trend of such sales through wholesalers. The Company uses this percentage estimate until historical trends indicate that a revision should be made. On an ongoing basis, the Company evaluates its actual chargeback rate experience, and new trends are factored into its estimates each quarter as market conditions change. For the year ended December 31, 2016 , the Company incurred a chargeback provision of $1,218.6 million , or 42.1% of gross sales of $2,891.3 million , compared to $1,065.2 million , or 42.4% of gross sales of $2,511.7 million in the prior year. We note that the dollar increase and percent decrease in the comparative period was the result of gross sales increases and product mix shifts to products with lower chargeback expense percentages. The Company ensures that this rate as a percent of gross sales is reasonable through inspection of contractual obligations, review of historical trends and evaluation of recent activity. Furthermore, other events that could materially alter chargeback rates include: changes in product pricing as a result of competitive market dynamics or negotiations with customers, changes in demand for specific products due to external factors such as competitor supply position or consumer preferences, customer shifts in buying patterns from direct to indirect through wholesalers, which could either individually or in aggregate increase or decrease the chargeback rate depending on the direction and velocity of the change(s). To better understand the impact of changes in chargeback reserve based on circumstances that are not fully outside of the Company’s control, for instance, the ratio of sales subject to chargeback to indirect sales, the Company performs a sensitivity analysis. Holding all other assumptions constant, for a 380 basis point (“BP”) change in the ratio of sales subject to chargeback to indirect sales would increase the chargeback reserve by $1.4 million or decrease the chargeback reserve by $3.1 million depending on the change in the direction of the ratio. Fundamentally, the BP change calculation is determined based on the 6-month trend of the average ratio of sales subject to chargeback to indirect sales. Due to the competitive generic pharmaceutical industry and our recent experience with wholesalers’ strategy and shifts in contracted and non-contracted indirect sales, we believe that the 6-month trend of the proportion of direct to indirect sales provides a representative basis for sensitivity analysis. However, the average change in the ratio of sales subject to chargeback to indirect sales in the last 6 months is immaterial. Accordingly, the BP change calculation for December 31, 2016 is based on the difference between the lowest and highest ratio of sales subject to chargeback to indirect sales during the last 6 months. As of and for the year ended December 31, 2016, the Company determined that in order to more closely align with internal analysis of associated reserves it would adjust the allowances disclosure to separately report rebates from chargebacks and rebates for both net trade accounts receivable and gross sale adjustments and to consolidate administrative fees and others with rebates for purposes of reporting of gross to net revenue reserves. All prior period information, including as of and for the years ended December 31, 2015 and 2014 have been recasted to reflect this disclosure change. Rebates, administrative fees and others: The Company maintains an allowance for rebates, administrative fees and others related to contracts and other rebate programs that it has in place with certain customers. Rebate, administrative fees and other percentages vary by product and by volume purchased by each eligible customer. The Company tracks sales by product number for each eligible customer and then applies the applicable rebate, administrative fees and other percentage, using both historical trends and actual experience to estimate its rebate, administrative fees and other allowances. The Company reduces gross sales and increases the rebate, administrative fees and other allowance by the estimated rebate, administrative fees and other amounts when the Company sells its products to eligible customers. The Company reduces the rebate allowance when it processes a customer request for a rebate. At each balance sheet date, the Company analyzes the allowance for rebates, administrative fees and others against actual rebates processed and makes necessary adjustments as appropriate. The amount of actual rebates processed can vary materially from period to period as discussed below. The allowances for rebates, administrative fees and others further takes into consideration price adjustments which are credits issued to reflect increases or decreases in the invoice or contract prices of the Company’s products. In the case of a price decrease, a credit is given for product remaining in customer’s inventories at the time of the price reduction. Contractual price protection results in a similar credit when the invoice or contract prices of the Company’s products increase, effectively allowing customers to purchase products at previous prices for a specified period of time. Amounts recorded for estimated shelf-stock adjustments and price protections are based upon specified terms with direct customers, estimated changes in market prices, and estimates of inventory held by customers. The Company regularly monitors these and other factors and evaluates the reserve as additional information becomes available. Similar to rebates, the reserve for administrative fees and others represent those amounts processed related to contracts and other fee programs which have been in place with certain entities, but they are settled through cash payment to these entities and accordingly are accounted for as a current liability. Otherwise, administrative fees and others operate similarly to rebates. For the year ended December 31, 2016 the Company incurred a rebates, administrative fees and others provision of $463.7 million , or 16.0% of gross sales of $2,891.3 million , compared to $367.5 million , or 14.6% of gross sales of $2,511.7 million in the prior year. We note that the dollar and percent increase from the comparative period was the result of gross sales increases and product mix shifts to products with higher rebates, administrative fees and others expense percentages. The Company ensures that this rate as a percent of gross sales is reasonable through inspection of contractual obligations, review of historical trends and evaluation of recent activity. Furthermore, other events that could materially alter rebates, administrative fees and others rates include: changes in product pricing as a result of competitive market dynamics or negotiations with customers, changes in demand for specific products due to external factors such as competitor supply position or consumer preferences, customer shifts in buying patterns from direct to indirect through wholesalers, which could either individually or in aggregate increase or decrease the rebate rate depending on the direction and velocity of the change(s). To better understand the impact of changes in rebates, administrative fees and others reserves based on circumstances that are not fully outside of the Company’s control, for instance, the proportion of direct to indirect sales subject to rebates, administrative fees and others, the Company performs a sensitivity analysis. Holding all other assumptions constant, for a 380 BP change in the ratio of sales subject to rebates, administrative fees and others to indirect sales would increase the reserve for rebates, administrative fees and others by $0.2 million or decrease the same reserve by $0.6 million depending on the direction of the change in the ratio. Fundamentally, the BP change calculation is determined based on the 6-month trend of the average ratio of sales subject to rebates, administrative fees and others to indirect sales. Due to the competitive generic pharmaceutical industry and our recent experience with wholesalers’ strategy and shifts in contracted and non-contracted indirect sales, we believe the 6-month trend of the average ratio of sales subject to rebates, administrative fees and others to indirect sales provides a representative basis for sensitivity analysis. However, the average change in the ratio of sales subject to rebates, administrative fees and others to indirect sales in the last 6 months is immaterial. Accordingly, the 380 BP change calculation for December 31, 2016 is based on the difference between the lowest and highest ratio of sales subject to rebates, administrative fees and others to indirect sales during the last 6 months. Sales Returns: Certain of the Company’s products are sold with the customer having the right to return the product within specified periods. Provisions are made at the time of sale based upon historical experience. Historical factors such as one-time recall events as well as pending new developments like comparable product approvals or significant pricing movement that may impact the expected level of returns are taken into account to determine the appropriate reserve estimate at each balance sheet date. As part of the evaluation of the reserve required, the Company considers actual returns to date that are in process, the expected impact of any product recalls and the amount of wholesaler’s inventory to assess the magnitude of unconsumed product that may result in sales returns to the Company in the future. The sales returns level can be impacted by factors such as overall market demand and market competition and availability for substitute products which can increase or decrease the pull through for sales of the Company’s products and ultimately impact the level of sales returns. For the year ended December 31, 2016 the Company incurred a return provision of $28.3 million , or 1.0% of gross sales of $2,891.3 million , compared to $34.3 million , or 1.4% of gross sales of $2,511.7 million in the prior year. We note that the dollar and percent decrease from the comparative period was the result of gross sales increases partially offset by product mix shifts to products with lower return rates. The Company ensures that this rate as a percent of gross sales is reasonable through inspection of historical trends and evaluation of recent activity. Furthermore, other events that could materially alter return rates include: acquisitions and integration activities that consolidate dissimilar contract terms and could decrease the return rate as typically the Company purchases smaller entities with less contracting power and integrates those product sales to Akorn contracts; and consumer demand shifts by products, which could either increase or decrease the return rate depending on the product or products specifically demanded and ultimately returned. To better understand the impact of changes in return reserve based on certain circumstances, the Company performs a sensitivity analysis. Holding all other assumptions constant, for an average 1.24 months change in the lag from the time of sale to the time the product return is processed, this change would result in an increase of $3.7 million or a decrease of $2.7 million of the return reserve expense if the lag increases or decreases, respectively. The average 1.24 months change in the lag from the time of sale to the time the product return is processed was determined based on the average variances of the last 6-month historical activities. Due to the change in the volume and type of products sold by the Company in the recent past, we have determined that the lag calculation provides a reasonable basis for sensitivity analysis. Allowance for Coupons, Promotions and Co-Pay discount cards: The Company issues coupons from time to time that are redeemable against certain of our Consumer Health products. Upon release of coupons into the market, the Company records an estimate of the dollar value of coupons expected to be redeemed. This estimate is based on historical experience and is adjusted as needed based on actual redemptions. In addition to couponing, from time to time the Company authorizes various retailers to run in-store promotional sales of its products. Upon receiving confirmation that a promotion was run, the Company accrues an estimate of the dollar amount expected to be owed back to the retailer. This estimate is then adjusted to actual upon receipt of an invoice from the retailer. Additionally, the Company provides consumer co-pay discount cards, administered through outside agents to provide discounted products when redeemed. Upon release of the cards into the market, the Company records an estimate of the dollar value of co-pay discounts expected to be utilized. This estimate is based on historical experience and is adjusted as needed based on actual usage. Doubtful Accounts: Provisions for doubtful accounts, which reflect trade receivable balances owed to the Company that are believed to be uncollectible, are recorded as a component of SG&A expenses. In estimating the allowance for doubtful accounts, the Company considers its historical experience with collections and write-offs, the credit quality of its customers and any recent or anticipated changes thereto, and the outstanding balances and past due amounts from its customers. Note that in the ordinary course of business, and consistent with our peers, we may from time to time offer extended payment terms to our customers as an incentive for new product launches or in other circumstances in accordance with standard industry practices. These extended payment terms do not represent a significant risk to the collectability of accounts receivable as of the period-end and are evaluated in accordance with ASC 605 —Revenue Recognition as applicable. Accounts are considered past due when they remain uncollected beyond the due date specified in the applicable contract or on the applicable invoice, whichever is deemed to take precedence. As of December 31, 2016 , the Company had a total of $5.1 million of past due gross accounts receivable with no material amounts aged over 60 days. The Company performs monthly a detailed analysis of the receivables due from its customers and provides a specific reserve against known uncollectible items. The Company also includes in the allowance for doubtful accounts an amount that it estimates to be uncollectible for all other customers, based on a percentage of the past due receivables. The percentage reserved increases as the age of the receivables increases. Accounts are written off once all reasonable collection efforts have been exhausted and/or when facts or circumstances regarding the customer (i.e. bankruptcy filing) indicate that the chance of collection is remote. Advertising and Promotional Allowances to Customers: The Company routinely sells its consumer health products to major retail drug chains. From time to time, the Company may arrange for these retailers to run in-store promotional sales of the Company’s products. The Company reserves an estimate of the dollar amount owed back to the retailer, recording this amount as a reduction to revenue at the later of the date on which the revenue is recognized or the date the sales incentive is offered. When the actual invoice for the sales promotion is received from the retailer, the Company adjusts its estimate accordingly. Advertising and promotional expenses paid to customers are expensed as incurred in accordance with ASC 605-50 - Customer Payments and Incentives . Inventories: Inventories are stated at the lower of cost (average cost method) or market (see Note 5 — “Inventories”). The Company maintains an allowance for slow-moving and obsolete inventory as well as inventory where the cost is in excess of its net realizable value (“NRV”). For finished goods inventory, the Company estimates the amount of inventory that may not be sold prior to its expiration or is slow-moving based upon recent sales activity by unit and wholesaler inventory information. The Company also analyzes its raw material and component inventory for slow-moving items and NRV. For the years ended December 31, 2016 , 2015 and 2014, the Company recorded a provision for inventory obsolescence and NRV of $32.1 million , $8.8 million , and $10.5 million , respectively. The allowances for inventory obsolescence were $33.5 million and $21.5 million as of December 31, 2016 and 2015, respectively. The Company capitalizes inventory costs associated with its products prior to regulatory approval when, based on management judgment, future commercialization is considered probable and future economic benefit is expected to be realized. The Company assesses the regulatory approval process and where the product stands in relation to that approval process including any known constraints or impediments to approval. The Company also considers the shelf life of the product in relation to the product timeline for approval. At December 31, 2016 , the Company established a reserve of $2.4 million related to R&D raw materials that are not expected to be utilized prior to expiration while at the prior year end, the Company had approximately $2.3 million in reserves for R&D raw materials. The entire balance of R&D raw materials has been reserved, as the Company deemed it unlikely that the products would receive FDA approval far enough in advance of expiration to be sellable. Property, Plant and Equipment: Property, plant and equipment is stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method in amounts considered sufficient to amortize the cost of the assets to operations over their estimated useful lives or lease terms. Depreciation expense was $22.2 million , $19.9 million and $14.2 million for the years ended December 31, 2016 , 2015 and 2014, respectively. The following table sets forth the average estimated useful lives at acquisition of the Company’s property, plant and equipment, by asset category: Asset category Depreciable Life (years) Buildings 30 - 50 Leasehold improvements 20 - 30 Furniture and equipment 7 - 20 Automobiles 5 - 7 Computer hardware and software 3 - 5 Net Income Per Common Share: Basic net income per common share is based upon weighted average common shares outstanding. Diluted net income per common share is based upon the weighted average number of common shares outstanding, including the dilutive effect, if any, of stock options and convertible securities using the treasury stock and if converted methods. Anti-dilutive shares excluded from the computation of diluted net income per share for 2016, 2015 and 2014 include 3.6 million , 0.9 million and 0.7 million shares, respectively, related to options. Income Taxes: Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities, and net operating loss and other tax credit carry-forwards. These items are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce the deferred income tax assets to the amount that is more likely than not to be realized. Fair Value of Financial Instruments: The Company applies ASC 820 , which establishes a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company’s principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the entity’s own assumptions based on market data and the entity’s judgments about the assumptions that market participants would use in pricing the asset or liability, and are to be developed based on the best information available in the circumstances. Our financial instruments include cash and cash equivalents, accounts receivable, available for sale securities and accounts payable. The fair values of cash and cash equivalents, accounts receivable and accounts payable approximate book value because of the short maturity of these instruments. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: - Level 1 —Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. The carrying value of the Company's cash and cash equivalents and the portion of the value of the Nicox S.A. ("Nicox") shares which are available to be traded on the exchange are considered Level 1 assets. - Level 2 —Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as directly or indirectly observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. The Company has no Level 2 assets or liabilities in any of the periods presented. - Level 3 —Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities. The portion of the fair valuation of the available-for-sale investment held in shares of Nicox stock that is subject to a lock-up provision is considered a Level 3 asset. The additional consideration payable as a result of prior years' divestitures and other insignificant contingent amounts are considered Level 3 liabilities. The following table summarizes the basis used to measure the fair values of the Company’s financial instruments (amounts in thousands): Fair Value Measurements at Reporting Date, Using: Description December 31, 2016 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 200,772 $ 200,772 $ — $ — Available-for-sale securities 1,106 1,074 — 32 Total assets $ 201,878 $ 201,846 $ — $ 32 Purchase consideration payable $ 4,994 $ — $ — $ 4,994 Total liabilities $ 4,994 $ — $ — $ 4,994 Description December 31, 2015 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 346,266 $ 346,266 $ — $ — Available-for-sale securities 5,941 4,843 — 1,098 Total assets $ 352,207 $ 351,109 $ — $ 1,098 Purchase consideration payable $ 4,967 $ — $ — $ 4,967 Total liabilities $ 4,967 $ — $ — $ 4,967 As of December 31, 2016 , the Company was carrying available-for-sale investments in shares of Nicox stock fair valued at $1.1 million . In 2014, the Company initially acquired Nicox stock fair valued at $12.5 million , carrying an original cost basis of $10.8 million and unrealized gain of $1.7 million . The unrealized gain was the result of discounting to reflect certain lockup provisions preventing immediate sale of the underlying shares. During the years ended December 31, 2016, 2015 and 2014, the Company sold available-for-sale securities with original cost bases of $6.0 million , $2.6 million and $0.6 million , respectively, realizing immaterial losses through these sales. The remaining available-for-sale securities owned as of December 31, 2016 have an original cost basis of approximately $1.5 million , less an unrealized loss of $0.4 million , resulting in a net carrying value (fair value) of $1.1 million . The fair value of the investment is estimated using observable and unobservable inputs to discount for lack of marketability. See Note 16 - Business Combinations and Other Strategic Investments for further discussion. The remaining purchase consideration payable is principally comprised of amounts owed relating to various prior years divestitures, at fair value as determined based on the underlying contracts and the Company’s subjective evaluation of the additional consideration obligation estimate. Discontinued Operations: During the three months ended June 30, 2014 and subsequent to the Hi-Tech Pharmacal Co. Inc. (“Hi-Tech”) acquisition, the Company divested the ECR subsidiary. As a result of the sale the Company will have no continuing involvement or cash flows from the operations of this business. In accordance with FASB ASC 205 - Presentation of Financial Statements , and to allow for meaningful comparison of our continuing operations, the operating results of this business are reported as “discontinued operations.” All other operations are considered “continuing operations.” Unless noted otherwise, discussion in these notes to the financial statements pertain to our continuing operations. Stock-Based Compensation: Stock-based compensation cost is estimated at grant d

Accounts Receivable, Sales and

Accounts Receivable, Sales and Allowances	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Accounts Receivable, Sales and Allowances	Accounts Receivable, Sales and Allowances The nature of the Company’s business inherently involves, in the ordinary course, significant amounts and substantial volumes of transactions and estimates relating to allowances for product returns, chargebacks, rebates, doubtful accounts and discounts given to customers. This is typical of the pharmaceutical industry and not necessarily specific to the Company. Depending on the product, the end-user customer, the specific terms of national supply contracts and the particular arrangements with the Company’s wholesaler customers, certain rebates, chargebacks and other credits are deducted from the Company’s accounts receivable. The process of claiming these deductions depends on wholesalers reporting to the Company the amount of deductions that were earned under the terms of the respective agreement with the end-user customer (which in turn depends on the specific end-user customer, each having its own pricing arrangement, which entitles it to a particular deduction). This process can lead to partial payments against outstanding invoices as the wholesalers take the claimed deductions at the time of payment. With the exception of the provision for doubtful accounts, which is reflected as part of selling, general and administrative expense, the provisions for the following customer reserves are reflected as a reduction of revenues in the accompanying consolidated statements of comprehensive income. Additionally, with the exception of administrative fees and others, which is included as a current liability, the ending reserve balances are included in trade accounts receivable, net in the Company’s consolidated balance sheets. As of and for the year ended December 31, 2016 , the Company determined that in order to more closely align with internal analysis of associated reserves it would adjust the allowances disclosure to separately report rebates from chargebacks and rebates for both net trade accounts receivable and gross sales adjustments and to consolidate administrative fees and others with rebates for purposes of reporting gross sales to net revenues. All prior period information, including as of and for the years ended December 31, 2015 and 2014, have been recast to reflect this disclosure change. Trade accounts receivable, net consists of the following (in thousands): December 31, 2016 2015 Gross accounts receivable $ 519,175 $ 466,570 Less reserves for: Chargebacks (80,360 ) (91,844 ) Rebates (1) (97,935 ) (162,596 ) Product returns (43,689 ) (48,333 ) Discounts and allowances (12,389 ) (10,079 ) Advertising and promotions (688 ) (1,518 ) Doubtful accounts (960 ) (1,579 ) Trade accounts receivable, net $ 283,154 $ 150,621 (1) - The primary reason for the significant decrease in the reserve for rebates for the twelve months period ended December 31, 2016 compared to the balance at December 31, 2015 is due to an abnormal delay in processing the 2015 rebates driven in part by the 2014 Financial Restatement efforts. In 2016, the rebates reserve balance declined each subsequent quarter-end reporting period as the Company progressively returned to normal processing timing of rebate claims. The rebates processed during full year 2016 are disclosed under the caption “charges processed,” in the table below. For the years ended December 31, 2016 , 2015 and 2014 , the Company recorded the following adjustments to gross sales (in thousands): Year ended December 31, 2016 2015 2014 Gross sales $ 2,891,267 $ 2,511,693 $ 1,433,603 Less adjustments for: Chargebacks (1,218,560 ) (1,065,244 ) (643,004 ) Rebates, administrative fees and others (463,724 ) (367,514 ) (177,518 ) Product returns (28,285 ) (34,272 ) (20,993 ) Discounts and allowances (55,494 ) (50,384 ) (30,782 ) Advertising, promotions, and others (8,361 ) (9,203 ) (6,258 ) Revenues, net $ 1,116,843 $ 985,076 $ 555,048 The annual activity in the Company’s allowance for customer deductions accounts for the three years ended December 31, 2016 is as follows (in thousands): Returns Chargebacks Rebates (1) Discounts Doubtful Accounts Advert. & Promotions Total Balance at December 31, 2013 8,164 8,635 4,247 1,644 25 452 23,167 Provision 20,993 643,004 132,960 30,782 247 6,258 834,244 Additions from acquisitions 35,542 38,500 — 5,160 51 311 79,564 Charges processed (20,053 ) (587,701 ) (41,533 ) (22,032 ) (14 ) (6,262 ) (677,595 ) Balance at December 31, 2014 $ 44,646 $ 102,438 $ 95,674 $ 15,554 $ 309 $ 759 $ 259,380 Provision 34,272 1,065,244 295,787 50,384 840 9,203 1,455,730 Additions from acquisitions — — — — 291 — 291 Charges processed (30,585 ) (1,075,838 ) (228,865 ) (55,859 ) 139 (8,444 ) (1,399,452 ) Balance at December 31, 2015 $ 48,333 $ 91,844 $ 162,596 $ 10,079 $ 1,579 $ 1,518 $ 315,949 Provision 28,285 1,218,560 384,074 55,494 — 8,361 1,694,774 Charges processed (32,929 ) (1,230,044 ) (448,735 ) (53,184 ) (619 ) (9,191 ) (1,774,702 ) Balance at December 31, 2016 $ 43,689 $ 80,360 $ 97,935 $ 12,389 $ 960 $ 688 $ 236,021 (1) - As provisions for rebates, administrative fees and others represent both contra-receivables and current liabilities, depending on the method of settlement, the cumulative provision relating to rebates, administrative fees and others is bifurcated as applicable based on the associated consolidated balance sheet classification. Accordingly, for the years ended December 31, 2016, 2015 and 2014, an additional $79.7 million , $71.7 million and $44.6 million , respectively, of provision was associated with administrative fees and others. Provisions and utilizations of provisions activity in the current period which relate to prior period revenues are not provided because to do so would be impracticable. Our current systems and processes do not capture the chargeback and rebate settlements by the period in which the original sales transaction was recorded. Chargeback and rebate claims are not submitted by customers with sufficient details to link the accrual recorded at the point of sale with the settlement of the accrual. As a result, the Company is unable to reasonably determine the dollar amount of the change in estimate in its gross to net reporting reflected in its results of operations for each period presented, and, those changes could be significant. However, the Company uses a combination of factors and applications to estimate the dollar amount of reserves for chargebacks and rebates at each balance sheet date. The Company regularly monitors the chargeback reserve based on an analysis of the Company’s product sales and most recent claims, wholesaler inventory, current pricing, and anticipated future pricing changes. If claims are different from the estimate due to changes from estimated rates, accrual rate adjustments are considered prospectively when determining provisions in accordance with authoritative GAAP.

Inventories, Net

Inventories, Net	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net The components of inventories, net of allowances, are as follows (in thousands): December 31, 2016 2015 Finished goods $ 73,027 76,512 Work in process 14,719 8,905 Raw materials and supplies 87,047 99,899 $ 174,793 $ 185,316 The Company maintains an allowance for excess and obsolete inventory, as well as inventory where its cost is in excess of its net realizable value. The activity in the allowance for excess, obsolete, and net realizable value inventory account for the two years ended December 31, 2016 and 2015, was as follows (in thousands): Years Ended December 31, 2016 2015 Balance at beginning of year $ 21,537 $ 21,368 Provision 32,072 8,827 Additions from acquisitions — 2,064 Charges processed (20,077 ) (10,722 ) Balance at end of year $ 33,532 $ 21,537

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Intangible assets consist primarily of goodwill, which is carried at its initial value, subject to evaluation for impairment, In-Process Research and Development (“IPR&D”), which is accounted for as an indefinite-lived intangible asset, subject to impairment testing until completion or abandonment of the project, and product licensing costs, trademarks and other such costs, which are capitalized and amortized on a straight-line basis over their useful lives, normally ranging from one year to thirty years . Accumulated amortization of intangible assets was $195.3 million and $144.1 million at December 31, 2016 and 2015, respectively. Amortization expense was $65.7 million , $66.3 million and $43.5 million for the years ended December 31, 2016, 2015 and 2014, respectively. The Company regularly assesses its amortizable intangible assets for impairment based on several factors, including estimated fair value and anticipated cash flows, and through this analysis incurred impairment expense for intangible assets during the years ended December 31, 2016, 2015 and 2014, of $40.5 million , $30.4 million and $0.0 million , respectively. If the Company incurs additional costs to renew or extend the life of an intangible asset, such costs are added to the remaining unamortized cost of the asset, if any, and the sum is amortized over the extended remaining life of the asset. Goodwill is tested for impairment annually or more frequently if changes in circumstances or the occurrence of events suggest that impairment may exist. The Company uses widely accepted valuation techniques to determine the fair value of its reporting units used in its annual goodwill impairment analysis. The Company’s valuation is primarily based on qualitative and quantitative assessments regarding the fair value of the reporting unit relative to its carrying value. The Company also models the fair value of the reporting unit based on projected earnings and cash flows of the reporting unit. The Company performed its annual impairment test on October 1, 2016 and determined that the fair value of its reporting units are substantially in excess of its carrying value and, therefore, no goodwill impairment charge was necessary. IPR&D intangible assets represent the value assigned to acquired R&D projects that principally represent rights to develop and sell a product that the Company has acquired which have not yet been completed or approved. These assets are subject to impairment testing until completion or abandonment of each project. Impairment testing requires the development of significant estimates and assumptions involving the determination of estimated net cash flows for each year for each project or product (including net revenues, cost of sales, R&D costs, selling and marketing costs and other costs which may be allocated), 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, and competitive trends impacting the asset and each cash flow stream as well as other factors. The major risks and uncertainties associated with the timely and successful completion of the IPR&D projects include legal risk, market risk and regulatory risk. If applicable, upon abandonment of the IPR&D product, the assets are impaired. In 2016, one IPR&D project was partially impaired due to the Company's expectations of market conditions upon launch, resulting in an impairment expense of $3.9 million , while in 2015, the Company impaired two IPR&D projects based on an analysis of launch expectations and technical feasibility, resulting in an impairment of the full asset values of each product that aggregated to $2.6 million . These impairments were recorded in R&D expenses in the Consolidated Statements of Comprehensive Income for the years ended December 31, 2016 and 2015. Changes in goodwill during the two years ended December 31, 2016 were as follows (in thousands): Goodwill December 31, 2014 $ 285,283 Acquisitions and other adjustments — Impairments — Dispositions — Foreign currency translation (573 ) December 31, 2015 $ 284,710 Acquisitions and other adjustments $ — Impairments — Dispositions $ — Foreign currency translation (417 ) December 31, 2016 $ 284,293 The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of December 31, 2016 for those assets that are not already fully amortized (dollar amounts in thousands): Gross Carrying Amount Accumulated Amortization Reclassifications Impairment (1) Net Carrying Amount Weighted Average Product licensing rights $ 790,143 $ (182,901 ) $ 9,400 $ (52,637 ) $ 564,005 10.5 IPR&D 187,007 — (9,400 ) (3,850 ) 173,757 N/A - Indefinite lived Trademarks 16,000 (4,244 ) — — 11,756 18.0 Customer relationships 6,290 (3,863 ) — — 2,427 9.3 Other intangibles 11,235 (4,326 ) — — 6,909 6.0 $ 1,010,675 $ (195,334 ) $ — (56,487 ) 758,854 (1) Impairment of product licensing rights is stated at gross carrying cost of $52.6 million less accumulated amortization of $12.1 million as of the impairment date. Accordingly, the net impairment expense recognized in product licensing rights was $40.5 million as of and for the year ended December 31, 2016 . Changes in intangible assets during the two years ended December 31, 2016 and 2015, were as follows (in thousands): Product licensing rights IPR&D Trademarks Customer relationships Other intangibles Non-compete agreements December 31, 2014 $ 704,791 $ 227,259 $ 14,279 $ 3,035 $ 10,356 $ 683 Acquisitions 3,535 300 — — — — Amortization (62,323 ) — (1,261 ) (381 ) (1,721 ) (586 ) Impairments (30,376 ) (2,627 ) — — — — Foreign currency translation — — — 123 — (97 ) Reclassifications 38,000 (38,000 ) — — — — December 31, 2015 $ 653,627 $ 186,932 $ 13,018 $ 2,777 $ 8,635 $ — Acquisitions 3,872 75 — — — — Amortization (62,375 ) — (1,262 ) (350 ) (1,726 ) — Impairments (40,519 ) (3,850 ) — — — — Dispositions — — — — — — Foreign currency translation — — — — — — Reclassifications 9,400 (9,400 ) — — — — December 31, 2016 $ 564,005 $ 173,757 $ 11,756 $ 2,427 $ 6,909 $ — The amortization expense of acquired intangible assets for each of the following five years are expected to be as follows (in thousands): Year ending December 31, Amortization Expense 2017 $ 62,206 2018 61,984 2019 59,157 2020 51,376 2021 51,376

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 consist of the following (in thousands): December 31, 2016 2015 Land $ 17,410 $ 17,409 Buildings and leasehold improvements 88,825 85,767 Furniture and equipment 160,546 142,885 266,781 246,061 Accumulated depreciation (108,425 ) (87,086 ) 158,356 158,975 Construction in progress 80,048 20,639 $ 238,404 $ 179,614 At December 31, 2016 and 2015 , property, plant and equipment carrying a net book value of $65.1 million and $52.6 million , respectively, was located outside the United States. The increased investment in 2016 was principally the result of the continued spend to achieve U.S. FDA compliance at our India facility and increased serialization spend to further the process of compliance with the DSCSA, both of which are reflected in construction in progress. Depreciation expense was $22.2 million , $19.9 million and $14.2 million for the years ended December 31, 2016 , 2015 and 2014, respectively.

Financing Arrangements

Financing Arrangements	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Financing Arrangements	1.50 to 1.0 0.50% 1.50% Category 2 > 1.25 to 1.00 but 0.75% 1.75% Category 3 < 1.25 to 1.00 1.00% 2.00% In addition to interest on borrowings, the Company will pay an unused line fee of 0.25% per annum on the unused portion of the JPM Revolving Facility. During an event of default, as defined in the JPM Credit Agreement, any interest rate will be increased by 2.0% per annum. The JPM Revolving Facility is secured by all of the assets of Akorn Loan Parties, including springing control of the Company’s primary deposit account pursuant to a deposit account control agreement. The financial covenants require Akorn Loan Parties to maintain the following on a consolidated basis: (a) Minimum Liquidity, as defined in the JPM Credit Agreement, of not less than (a) $120.0 million plus (b) 25% of the JPM Revolving Facility commitments during the three month period preceding the June 1, 2016 maturity date of the Company’s senior convertible notes. (b) Ratio of EBITDA to fixed charges of no less than 1.00 to 1.00 (measured quarterly for the trailing 4 quarters). As of December 31, 2016 , the Company was in full compliance with all covenants applicable to the JPM Revolving Facility. The Company may use any proceeds from borrowings under the JPM Revolving Facility for working capital needs and for the general corporate purposes of the Company and its subsidiaries. At December 31, 2016 , there were no outstanding borrowings and one outstanding letter of credit in the amount of approximately $2.2 million under the JPM Revolving Facility. Availability under the facility as of December 31, 2016 was approximately $147.8 million . The JPM Credit Agreement places customary limitations on indebtedness, distributions, liens, acquisitions, investments, and other activities of Akorn Loan Parties in a manner designed to protect the collateral while providing flexibility for growth and the historic business activities of the Company and its subsidiaries. Convertible Notes On June 1, 2011, the Company issued $120.0 million aggregate principal amount of 3.50% Convertible Senior Notes due June 1, 2016 (the “Notes”) which included $20.0 million in aggregate principal amount of the Notes issued in connection with the full exercise by the initial purchasers of their over-allotment option. The Notes were governed by the Company’s indenture with Wells Fargo Bank, National Association, as trustee (the “Indenture”). The Notes were offered and sold only to qualified institutional buyers. The net proceeds from the sale of the Notes were approximately $115.3 million , after deducting underwriting fees and other related expenses. The Notes paid interest at an annual rate of 3.50% semiannually in arrears on June 1 and December 1 of each year, with the first interest payment completed on December 1, 2011. The Notes were convertible into the Company’s common stock, cash or a combination thereof at an initial conversion price of $8.76 per share, which is equivalent to an initial conversion rate of approximately 114.1553 shares per $1,000 principal amount of the Notes, subject to adjustment for certain events described in the Indenture. The Notes became convertible effective April 1, 2012 as a result of the Company’s common stock closing above the required price of $11.39 per share for 20 of the last 30 consecutive trading days in the quarter ended March 31, 2012. The Notes remained convertible for each successive quarter, up to and including the maturity date of June 1, 2016, as a result of meeting the trading price requirement at the end of each prior quarter. During the years ended December 31, 2015 and 2014, $44.3 million and $32.5 million of this convertible debt was converted at the holder’s request which resulted in recognition of losses of $1.2 million and $1.0 million , due to the conversions, respectively. On June 1, 2016, the remaining $43.2 million of debt was converted at the holder's request, resulting in complete conversion of the Notes. At December 31, 2015, the net carrying amount of the liability component and the remaining unamortized debt discount are shown in the following table (in thousands). Due to the complete conversion of the Notes in 2016, there are no balances in these accounts at December 31, 2016: December 31, 2016 2015 Carrying amount of equity component $ — $ 7,372 Carrying amount of the liability component — 42,465 Unamortized discount of the liability component — 750 Unamortized debt financing costs — 136 As a result of the complete conversion on June 1, 2016, during the years ended December 31, 2016 , 2015 and 2014, the Company recorded the following expenses in relation to the Notes (in thousands): 2016 2015 2014 Interest expense at 3.50% coupon rate (1) $ 687 $ 2,205 $ 4,105 Debt discount amortization 750 2,421 4,317 Deferred financing cost amortization 136 438 780 Loss on conversion — 1,235 990 $ 1,573 $ 6,299 $ 10,192 (1) As a result of the restatement of the 2014 financial data and the resultant delays in filings of the 2015 financial statements, the Company was required to remit an additional 0.5% interest penalty to all holders of the convertible notes from January 1, 2016 to April 5, 2016 and a lump sum payment equal to 0.25% of the principal balance held by consenting holders of the convertible notes as of April 6, 2016. Aggregate cumulative maturities of long-term obligations (including the incremental and existing term loans and the JPM revolver) as of December 31, 2016 are: (In thousands) 2017 2018 2019 2020 Thereafter Maturities $ — $ — $ — $ — $ 831,938" id="sjs-B4">Financing Arrangements Term Loans Concurrent with the closing of its acquisition of Hi-Tech (the “Hi-Tech Acquisition”), Akorn, Inc. and its wholly-owned domestic subsidiaries (the "Akorn Loan Parties") entered into a $600.0 million Term Facility (the “Existing Term Facility”) pursuant to a Loan Agreement dated April 17, 2014 (the “Existing Term Loan Agreement”) between Akorn Loan Parties as borrowers, certain other lenders and JPMorgan Chase Bank, N.A. ("JPMorgan") acting as administrative agent. The Company may increase the loan amount up to an additional $150.0 million , or more, provided certain financial covenants and other conditions are satisfied. The proceeds received pursuant to the Existing Term Loan Agreement were used to finance the Hi-Tech Acquisition. Additionally and concurrent with the closing of its acquisition of VersaPharm, the Akorn Loan Parties entered into a $445.0 million Incremental Facility Joinder Agreement (the “Incremental Term Loan Facility”) pursuant to a Loan Agreement (the “Incremental Term Loan Agreement”) dated August 12, 2014 between Akorn Loan Parties as borrowers and JPMorgan as lender and administrative agent for certain other lenders. The proceeds received pursuant to the Incremental Term Loan Agreement were used to finance the VersaPharm acquisition. The Existing Term Facility and Incremental Term Loan Facility are collectively the “Term Loans” or the “Term Loan Agreements.” The Term Loans are secured by all of the assets of Akorn Loan Parties, including springing control of the Company’s primary deposit account pursuant to a deposit account control agreement. Prior to February 16, 2016, the Term Loan Agreements required quarterly principal repayment equal to 0.25% of the initial aggregate loan amount beginning with the second full quarter following the closing date of the Existing Term Loan Agreement, with a final payment of the remaining principal balance due at maturity seven years from the date of closing of the Existing Term Loan Agreement. The Company was also able to prepay all or a portion of the remaining outstanding principal amount under the Term Loan Agreements at any time, or from time to time, subject to prior notice to the lenders and payment of applicable fees. Prepayment of principal was required should the Company incur any indebtedness not permitted under the Term Loan Agreements, or effect the sale, transfer or disposition of any property or asset, other than in the ordinary course of business. On February 16, 2016, the Company made a voluntary prepayment of its Existing Term Facility of $200.0 million which settled all future quarterly principal repayments of the Term Loan Agreements as denoted above until the date of the closing of the Term Loan Agreements or April 16, 2021, although future voluntary principal repayments are permitted. Effected for the principal repayment, as of December 31, 2016, outstanding debt under the Term Loans was $831.9 million and the Company was in full compliance with all applicable covenants which included customary limitations on indebtedness, distributions, liens, acquisitions, investments, and other activities. On May 20, 2015, the Company modified the Term Loan Agreements with JPMorgan and certain other lenders to remedy certain covenant defaults related to the FY 2014 financial restatement by incurring nominal charges affected through a temporary interest rate increase and an upfront payment. Prior to November 13, 2015, interest accrued based, at the Company’s election, on an adjusted prime/federal funds rate or an adjusted LIBOR (“Eurodollar Loan”) rate, plus a margin of 2.50% for ABR Loans, and 3.50% for Eurodollar Loans. Each such margin would decrease by 0.25% in the event of the Company’s senior debt to EBITDA ratio for any quarter falling to 2.25 :1.00 or below. During an event of default, as defined in the Term Loan Agreements, any interest rate would have been increased by 2.00% per annum. Per the Term Loan Agreements, the interest rate on LIBOR loans could not fall below 4.50% . On November 13, 2015, the Company again modified the Term Loan Agreements with JPMorgan and certain other lenders to remedy certain remaining covenant defaults related to the FY 2014 financial restatement by incurring additional charges affected through a temporary interest rate increase and an upfront payment. Through the May 20, 2015 and November 13, 2015 debt modifications and related amortization, unamortized deferred financing fees were $26.8 million as of December 31, 2015. During the twelve months ended December 31, 2016 , the Company incurred an additional $5.1 million of financing costs related to the 2014 restatement process that ended on May 10, 2016. During the year ended December 31, 2016 , the Company amortized $10.4 million of the total Term Loans-related costs, resulting in $21.5 million of deferred financing fees remaining at December 31, 2016. During the years ended December 31, 2015 and 2014, the Company amortized $3.8 million and $8.8 million , respectively, of Term Loans-related costs. The increase in amortization of deferred financing fees in the current year as compared to the previous two years was primarily the result of the deferred financing fee amortization associated with the voluntary principal repayment. The Company will amortize the remaining deferred financing fees using the effective interest method over the life of the Term Loan Agreement. Subsequent to November 13, 2015, interest accrues based, at the Company’s election, on an adjusted prime/federal funds rate (“ABR Loan”) or an adjusted LIBOR (“Eurodollar Loan”) rate, plus a margin of 4.00% for ABR Loans, and 5.00% for Eurodollar Loans. As of the date of the filing of this Form 10-K until the maturity of the Term Loans, our spread will be based upon the Ratings Level applicable on such date as documented below. As of the period ended December 31, 2016 , the Company was a Ratings Level I for the Existing Term Loan Facility. Ratings Level Index Ratings (Moody’s/S&P) Eurodollar Spread ABR Spread Level I B1/B+ or higher 4.25% 3.25% Level II B2/B 4.75% 3.75% Level III B3/B- or lower 5.50% 4.50% For the years ended December 31, 2016 , 2015 and 2014, the Company recorded interest expense of $43.5 million , $47.3 million and $27.2 million , respectively in relation to the Term Loans. JPMorgan Credit Facility On April 17, 2014, Akorn Loan Parties entered into a Credit Agreement (the “JPM Credit Agreement”) with JPMorgan acting as administrative agent, and Bank of America, N.A., as syndication agent for certain other lenders (at closing, Bank of America, N.A. and Wells Fargo Bank, N. A.) for a $150.0 million revolving credit facility (the “JPM Revolving Facility”). Subject to other conditions in the JPM Credit Agreement, advances under the JPM Revolving Facility will be made in accordance with a borrowing base consisting of the sum of the following: (a) 85% of eligible accounts receivable; (b) The lesser of: a. 65% of the lower of cost or market value of eligible raw materials and work in process inventory, valued on a first in first out basis, and b. 85% of the orderly liquidation value of eligible raw materials and work in process inventory, valued on a first in first out basis; (c) The lesser of: a. 75% of the lower of cost or market value of eligible finished goods inventory, valued on a first in first out basis, and b. 85% of the orderly liquidation value of eligible finished goods inventory, valued on a first in first out basis up to 85% of the liquidation value of eligible inventory (or 75% of market value finished goods inventory); and (d) Less any reserves deemed necessary by the administrative agent, and allowed in its permitted discretion. The total amount available under the JPM Revolving Facility includes a $10.0 million letter of credit facility. Under the terms of the JPM Credit Agreement, if availability under the JPM Revolving Facility falls below 12.5% of commitments or $15.0 million for more than 30 consecutive days, the Company may be subject to cash dominion, additional reporting requirements, and additional covenants and restrictions. The Company may seek additional commitments to increase the maximum amount of the JPM Revolving Facility to $200.0 million . Unless cash dominion is exercised by the lenders in connection with the JPM Revolving Facility, the Company will be required to repay the JPM Revolving Facility upon its expiration five years from issuance, subject to permitted extension, and will pay interest on the outstanding balance monthly based, at the Company’s election, on an adjusted prime/federal funds rate (“ABR”) or an adjusted LIBOR (“Eurodollar”), plus a margin determined in accordance with the Company’s consolidated fixed charge coverage ratio (EBITDA to fixed charges) as follows: Fixed Charge Coverage Ratio Revolver ABR Spread Revolver Eurodollar Spread Category 1 > 1.50 to 1.0 0.50% 1.50% Category 2 > 1.25 to 1.00 but 0.75% 1.75% Category 3 < 1.25 to 1.00 1.00% 2.00% In addition to interest on borrowings, the Company will pay an unused line fee of 0.25% per annum on the unused portion of the JPM Revolving Facility. During an event of default, as defined in the JPM Credit Agreement, any interest rate will be increased by 2.0% per annum. The JPM Revolving Facility is secured by all of the assets of Akorn Loan Parties, including springing control of the Company’s primary deposit account pursuant to a deposit account control agreement. The financial covenants require Akorn Loan Parties to maintain the following on a consolidated basis: (a) Minimum Liquidity, as defined in the JPM Credit Agreement, of not less than (a) $120.0 million plus (b) 25% of the JPM Revolving Facility commitments during the three month period preceding the June 1, 2016 maturity date of the Company’s senior convertible notes. (b) Ratio of EBITDA to fixed charges of no less than 1.00 to 1.00 (measured quarterly for the trailing 4 quarters). As of December 31, 2016 , the Company was in full compliance with all covenants applicable to the JPM Revolving Facility. The Company may use any proceeds from borrowings under the JPM Revolving Facility for working capital needs and for the general corporate purposes of the Company and its subsidiaries. At December 31, 2016 , there were no outstanding borrowings and one outstanding letter of credit in the amount of approximately $2.2 million under the JPM Revolving Facility. Availability under the facility as of December 31, 2016 was approximately $147.8 million . The JPM Credit Agreement places customary limitations on indebtedness, distributions, liens, acquisitions, investments, and other activities of Akorn Loan Parties in a manner designed to protect the collateral while providing flexibility for growth and the historic business activities of the Company and its subsidiaries. Convertible Notes On June 1, 2011, the Company issued $120.0 million aggregate principal amount of 3.50% Convertible Senior Notes due June 1, 2016 (the “Notes”) which included $20.0 million in aggregate principal amount of the Notes issued in connection with the full exercise by the initial purchasers of their over-allotment option. The Notes were governed by the Company’s indenture with Wells Fargo Bank, National Association, as trustee (the “Indenture”). The Notes were offered and sold only to qualified institutional buyers. The net proceeds from the sale of the Notes were approximately $115.3 million , after deducting underwriting fees and other related expenses. The Notes paid interest at an annual rate of 3.50% semiannually in arrears on June 1 and December 1 of each year, with the first interest payment completed on December 1, 2011. The Notes were convertible into the Company’s common stock, cash or a combination thereof at an initial conversion price of $8.76 per share, which is equivalent to an initial conversion rate of approximately 114.1553 shares per $1,000 principal amount of the Notes, subject to adjustment for certain events described in the Indenture. The Notes became convertible effective April 1, 2012 as a result of the Company’s common stock closing above the required price of $11.39 per share for 20 of the last 30 consecutive trading days in the quarter ended March 31, 2012. The Notes remained convertible for each successive quarter, up to and including the maturity date of June 1, 2016, as a result of meeting the trading price requirement at the end of each prior quarter. During the years ended December 31, 2015 and 2014, $44.3 million and $32.5 million of this convertible debt was converted at the holder’s request which resulted in recognition of losses of $1.2 million and $1.0 million , due to the conversions, respectively. On June 1, 2016, the remaining $43.2 million of debt was converted at the holder's request, resulting in complete conversion of the Notes. At December 31, 2015, the net carrying amount of the liability component and the remaining unamortized debt discount are shown in the following table (in thousands). Due to the complete conversion of the Notes in 2016, there are no balances in these accounts at December 31, 2016: December 31, 2016 2015 Carrying amount of equity component $ — $ 7,372 Carrying amount of the liability component — 42,465 Unamortized discount of the liability component — 750 Unamortized debt financing costs — 136 As a result of the complete conversion on June 1, 2016, during the years ended December 31, 2016 , 2015 and 2014, the Company recorded the following expenses in relation to the Notes (in thousands): 2016 2015 2014 Interest expense at 3.50% coupon rate (1) $ 687 $ 2,205 $ 4,105 Debt discount amortization 750 2,421 4,317 Deferred financing cost amortization 136 438 780 Loss on conversion — 1,235 990 $ 1,573 $ 6,299 $ 10,192 (1) As a result of the restatement of the 2014 financial data and the resultant delays in filings of the 2015 financial statements, the Company was required to remit an additional 0.5% interest penalty to all holders of the convertible notes from January 1, 2016 to April 5, 2016 and a lump sum payment equal to 0.25% of the principal balance held by consenting holders of the convertible notes as of April 6, 2016. Aggregate cumulative maturities of long-term obligations (including the incremental and existing term loans and the JPM revolver) as of December 31, 2016 are: (In thousands) 2017 2018 2019 2020 Thereafter Maturities $ — $ — $ — $ — $ 831,938

Earnings per Common Share

Earnings per Common Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings per Common Share	Earnings per Common Share Basic net income per common share is based upon the weighted average common shares outstanding during the period. Diluted net income per common share is based upon the weighted average number of common shares outstanding, including the dilutive effect, if any, of stock options and Restricted Stock Units ("RSUs"), warrants and the conversion feature of convertible notes using the treasury stock method. Previously, diluted net income per share assumed the principal amount of the convertible Notes would be cash settled and any conversion spread would be settled using common shares, as the Company has the choice of settling either in cash or shares. The Company had demonstrated a past practice and intent of cash settlement for the principal and stock settlement of the conversion spread. As a result, earnings per share calculations for periods ended prior to and including September 30, 2014 only included the assumption of conversion to common shares for the convertible spread. During the quarter ended December 31, 2014, the Company changed its practice of cash settlement and settled redemptions using common shares for both the principal and conversion spread and accordingly, earnings per share amounts were calculated using the if-converted method. For the years ended December 31, 2016, 2015 and 2014, the earnings per share amounts were calculated using the if-converted method. The Company’s potentially dilutive shares consist of: (i) vested and unvested stock options that are in-the-money, (ii) unvested RSUs, (iii) warrants that are in-the-money, and (iv) shares potentially issuable upon conversion of the Notes. A reconciliation of the earnings per share data from a basic to a fully diluted basis is detailed below (amounts in thousands, except per share data): 2016 2015 2014 Income from continuing operations used for basic earnings per share $ 184,243 $ 150,798 $ 14,388 Convertible debt income adjustments, net of tax 1,049 3,222 — Income from continuing operations adjusted for convertible debt as used for diluted earnings per share $ 185,292 $ 154,020 $ 14,388 Income from continuing operations per share: Basic $ 1.50 $ 1.29 $ 0.14 Diluted (1) $ 1.47 $ 1.22 $ 0.13 Loss from discontinued operations, net of tax $ — $ — $ (504 ) Loss from discontinued operations, net of tax per share: Basic $ — $ — $ (0.01 ) Shares used in computing income (loss) per share: Weighted average basic shares outstanding 122,869 116,980 103,480 Dilutive securities: Stock options and unvested RSUs 914 1,667 4,234 Stock warrants — — 1,874 Shares issuable on conversion of the Notes (2) 2,018 7,115 — Total dilutive securities 2,932 8,782 6,108 Weighted average diluted shares outstanding 125,801 125,762 109,588 (1) Due to a change in the expectation that management may settle all future note conversions solely through shares in the year and quarter ended December 31, 2014, the diluted income from continuing operations per share calculation includes the dilutive effect of convertible debt and is offset by the exclusion of interest expense and deferred financing fees related to the convertible debt of $1.0 million , after-tax and $3.2 million , after-tax for the years ended December 31, 2016 and 2015, respectively. (2) In the year ended December 31, 2014, the computation of diluted net earnings per share does not include the effect of convertible debt under the if-converted method, consisting of 13.5 million shares and $5.8 million of additional income, as the effect would have been antidilutive.

Leasing Arrangements

Leasing Arrangements	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Leasing Arrangements	Leasing Arrangements The Company leases real and personal property in the normal course of business under various operating leases and other insignificant capital leases, including non-cancelable and month-to-month agreements. Rental expense under these leases was $5.2 million , $3.1 million and $3.3 million for the years ended December 31, 2016 , 2015 and 2014, respectively. Landlord incentives are recorded as deferred rent and amortized on a straight-line basis over the lease term. Rent escalations are recorded on a straight-line basis over the lease term. The following is a schedule, by year, of future minimum rental payments required under non-cancelable operating leases in place as of December 31, 2016 (in thousands): Year ending December 31, 2017 $ 3,760 2018 2,755 2019 2,640 2020 2,596 2021 2,399 2022 and thereafter 9,528 Total $ 23,678

Stock Options, Employee Stock P

Stock Options, Employee Stock Purchase Plan and Restricted Stock	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Options, Employee Stock Purchase Plan and Restricted Stock	Stock Options, Employee Stock Purchase Plan and Restricted Stock Stock Option Plan The Company maintains equity compensation plans that allow the Company’s Board of Directors to grant stock options and other equity awards to eligible employees, officers, directors and consultants. The active plan from which new awards may be granted is the 2014 Stock Option Plan (the “2014 Plan”). The adoption of the 2014 Plan was approved by the Company’s shareholders at the 2014 Annual Meeting of Shareholders. The 2014 Plan was subsequently amended and restated by vote of the Company’s shareholders on December 16, 2016, with the approved amendments imposing limits on the number of shares, other equity awards or cash that may be granted in a calendar year to various recipients, and clarifying the terms and conditions related to the Company’s issuance of RSUs under the plan. The 2014 Plan reserved 7.5 million shares for issuance upon the grant of stock options, RSUs, or various other instruments, to directors, employees and consultants. Under the 2014 Plan, 4.6 million options have been granted to employees and directors, 0.1 million options have been exercised, 0.4 million options have been canceled and 4.1 million remain outstanding as of December 31, 2016. Options granted under the 2014 Stock Option Plan have exercise prices equivalent to the market value of the Company’s common stock on the date of grant and expire from five to ten years from date of issuance depending on the option grant date. Options vest contingent on the terms of their grant consistent with the plan. On March 29, 2005, the Company’s Board of Directors approved the Amended and Restated Akorn, Inc. 2003 Stock Option Plan (the “Amended 2003 Plan”), effective as of April 1, 2005, and this was subsequently approved by its stockholders on May 27, 2005. The Amended 2003 Plan was an amendment and restatement of the Akorn Inc. 2003 Stock Option Plan and provided the Company with the ability to grant other types of equity awards to eligible participants beside stock options. The aggregate number of shares of the Company’s common stock initially approved for issuance pursuant to awards granted under the Amended 2003 Plan was 5.0 million . On August 7, 2009, the Company’s stockholders voted to increase this figure to 11.0 million at the recommendation of the Company’s Board of Directors, and on December 31, 2011 voted to increase the available shares by another 8.0 million , to a final total of 19.0 million shares. The Amended 2003 Plan expired on November 6, 2013. Accordingly, no additional awards were issued under the Amended 2003 Plan beyond that date. However, any awards outstanding as of November 6, 2013 issued under the Amended 2003 Plan remained outstanding in accordance with their terms. Under the Amended 2003 Plan, 15.8 million options were granted to employees and directors, 10.8 million options have been exercised, 4.4 million options have been canceled, and 0.7 million remain outstanding as of December 31, 2016 . Options granted under the Amended 2003 Plan have exercise prices equivalent to the market value of the Company’s common stock on the date of grant and expire five years from date of issuance. All options granted in 2013 under the Amended 2003 plan vest one quarter per year on each of the first four anniversaries of their grant dates. Options granted in earlier years generally had a three -year vesting period. The Company accounts for stock-based compensation in accordance with ASC Topic 718 - Compensation — Stock Compensation . Accordingly, stock-based compensation cost is estimated at the grant date based on the fair value of the award, and the cost is recognized as expense ratably over the vesting period. The Company uses the Black-Scholes model for estimating the grant date fair value of stock options. Determining the assumptions that enter into the model is highly subjective and requires judgment. The Company uses an expected volatility that is based on the historical volatility of its stock. The expected life assumption is based on historical employee exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the average market rate on U.S. Treasury securities in effect during the quarter in which the options were granted. The dividend yield reflects historical experience as well as future expectations over the expected term of the option. The Company estimates forfeitures at the time of grant and revises in subsequent periods, as necessary, if actual forfeitures differ from those estimates. The Company recorded stock-based compensation expense of approximately $15.4 million , $13.1 million and $7.8 million during the years ended December 31, 2016 , 2015 and 2014, respectively. The Company uses the single-award method for allocating the compensation cost to each period. Stock Option awards From time to time the Company grants stock option awards to certain employees and directors. The assumptions used in estimating the fair value of the stock options granted during the period, along with the weighted-average grant date fair values, were as follows: 2016 2015 2014 Expected volatility 46% — 50% 42% — 47% 40% — 71% Expected life (in years) 4.7 4.8 4.1 Risk-free interest rate 0.9% — 1.8% 1.5% — 1.6% 0.9% — 2.2% Dividend yield — — — Fair value per stock option $11.13 $14.59 $12.89 A summary of stock option activity within the Company’s stock-based compensation plans for the years ended December 31, 2016 , 2015 and 2014 is as follows: Number of Shares (in thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) (1) Outstanding at December 31, 2013 9,228 $ 4.45 Granted 1,475 28.59 Exercised (4,226 ) 1.91 Forfeited or expired (91 ) 22.56 Outstanding at December 31, 2014 6,386 $ 11.44 Granted 1,016 37.60 Exercised (2,519 ) 4.09 Forfeited or expired (121 ) 34.78 Outstanding at December 31, 2015 4,762 $ 20.33 Granted 2,089 26.61 Exercised (1,794 ) 7.78 Forfeited or expired (292 ) 28.96 Outstanding at December 31, 2016 4,766 $ 27.27 5.03 $ 5,714 Exercisable at December 31, 2016 1,495 $ 23.51 3.10 $ 5,272 (1) Includes only those options that were in-the-money as of December 31, 2016. Fluctuations in the intrinsic value of both outstanding and exercisable options may result from changes in underlying stock price and the timing and volume of option grants, exercises and forfeitures. The aggregate intrinsic value for stock options outstanding and exercisable is defined as the difference between the market value of the Company’s common stock at the end of the period and the exercise price of stock options. The total intrinsic value of stock options exercised during the years ended December 31, 2016 , 2015 and 2014 was approximately $40.3 million , $97.4 million and $141.7 million , respectively. As a result of the stock options exercised, the Company received cash and recorded additional paid-in-capital of approximately $14.0 million , $10.2 million and $8.1 million during the years ended December 31, 2016 , 2015 and 2014, respectively. As of December 31, 2016 , the total amount of unrecognized compensation cost related to non-vested stock options was approximately $28.1 million which is expected to be recognized as expense over a weighted-average period of 2.8 years. Restricted Stock Unit awards From time to time the Company grants restricted stock units to certain employees and directors. Restricted stock units are valued at the closing market price of the Company’s common stock on the day of grant and the total value of the units are recognized as expense ratably over the vesting period of the grants. The following is a summary of non-vested restricted stock activity: Number of Shares (in thousands) Weighted Average Per Share Grant Date Fair Value Nonvested at December 31, 2013 16 $ 15.36 Granted 337 35.31 Vested (16 ) 15.36 Canceled — — Nonvested at December 31, 2014 337 $ 35.31 Granted — — Vested (84 ) 35.31 Canceled — — Nonvested at December 31, 2015 253 $ 35.31 Granted 302 29.50 Vested (118 ) 34.95 Canceled (21 ) 28.85 Nonvested at December 31, 2016 416 $ 31.52 As of December 31, 2016, the total amount of unrecognized compensation cost related to restricted stock awards was approximately $10.2 million which is expected to be recognized as expense over a weighted-average period of 2.8 years. Employee Stock Purchase Plan The 2016 Akorn, Inc. Employee Stock Purchase Plan (the “2016 ESPP”) permits eligible employees to acquire shares of the Company’s common stock through payroll deductions. The 2016 ESPP has been structured to qualify under Section 423 of the Internal Revenue Code (“IRC”). Employees who elect to participate in the ESPP may withhold from 1% to 15% of base wages toward the purchase of stock. Shares are purchased at a 15% discount off the lesser of the market price at the beginning or the ending of the applicable offering period. The 2016 ESPP has two offering periods each year, one running from January 1st to December 31st and the other running from July 1st to December 31st. In a given year, employees may enroll in either plan, but not both. Per IRC rules, annual purchases per employee are limited to $25,000 worth of stock, valued as of the beginning of the offering period. Accordingly, with the 15% discount, employees may withhold no more than $21,250 per year toward the purchase of stock under the 2016 ESPP. Employees are further limited to purchasing no more than 15,000 shares of stock per year. A total of 2.0 million shares of the Company’s stock have been set aside for issuance under the 2016 ESPP. The 2016 ESPP was approved by vote of the Company’s shareholders on December 16, 2016. Accordingly, the initial offering period under the 2016 ESPP began in January 2017. In 2014 and prior years, the Company had maintained an Amended and Restated Akorn, Inc. Employee Stock Purchase Plan (the “Prior ESPP”) structured very similar to the 2016 ESPP except that it did not place a limit on the number of shares that could be purchased in one year by a participant. In January 2016, the Company elected to terminate the Prior ESPP since shares could not be issued due to the ongoing financial restatement process. In January 2016, the Company refunded all contributions made in 2015 by participants in the Prior ESPP, and paid an additional amount to compensate participants for their lost 15% discount. A maximum of 2.0 million shares of the Company’s common stock were set aside for issuance under the Prior ESPP. A total of 1.4 million shares were issued under the Prior ESPP before its termination in January 2016. Due to the termination of the Prior ESPP, no shares were issued under this plan in either 2016 or 2015. The Company issued approximately 67 thousand shares of stock in 2014 related to employee participation in the Prior ESPP. For the years ended December 31, 2016 , 2015 and 2014, the Company recorded compensation expense of approximately $(0.3) million , $0.6 million and $0.4 million , respectively, related to the Prior ESPP. The $(0.3) million net credit to compensation expense in 2016 was related to reversing expenses that had been recorded during 2015 after the decision was made in January 2016 to terminate the Prior ESPP.

Income Taxes from Continuing Op

Income Taxes from Continuing Operations	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes from Continuing Operations	Income Taxes from Continuing Operations The income tax provision (benefit) from continuing operations consisted of the following (in thousands): Current Deferred Total Year ended December 31, 2016 Federal $ 107,818 $ (26,377 ) $ 81,441 State 11,247 (4,325 ) 6,922 Foreign (1,306 ) (1,306 ) $ 119,065 $ (32,008 ) $ 87,057 Year ended December 31, 2015 Federal $ 116,375 $ (41,477 ) $ 74,898 State 11,113 (2,620 ) 8,493 Foreign — (2,033 ) (2,033 ) $ 127,488 $ (46,130 ) $ 81,358 Year ended December 31, 2014 Federal $ 26,114 $ (14,222 ) $ 11,892 State 2,347 (2,090 ) 257 Foreign 4 (1,199 ) (1,195 ) $ 28,465 $ (17,511 ) $ 10,954 The income tax provision differs from the “expected” tax expense computed by applying the U.S. Federal corporate income tax rates of 35% to income from continuing operations before income taxes, as follows (in thousands): Years Ended December 31, 2016 2015 2014 Computed “expected” tax provision $ 94,955 $ 81,255 $ 8,870 Change in income taxes resulting from: State income taxes, net of Federal income tax 4,501 5,520 167 Foreign income tax provision (benefit) 1,580 (1,130 ) 482 Deduction for domestic production activities (7,280 ) (6,882 ) (1,323 ) Stock compensation (11,395 ) — — R&D tax credits (825 ) (677 ) (508 ) Nondeductible acquisition fees 39 165 2,823 Other expense (benefit), net 2,564 682 (673 ) Valuation allowance change 2,918 2,425 1,116 Income tax provision $ 87,057 $ 81,358 $ 10,954 The geographic allocation of the Company’s income from continuing operations before income taxes between U.S. and foreign operations was as follows (in thousands): 2016 2015 2014 Pre-tax income from continuing U.S. operations $ 287,880 $ 241,665 $ 33,320 Pre-tax loss from continuing foreign operations (16,580 ) (9,509 ) (7,978 ) Total pre-tax income from continuing operations $ 271,300 $ 232,156 $ 25,342 Net deferred income taxes at December 31, 2016 and 2015 include (in thousands): December 31, 2016 December 31, 2015 Current Noncurrent Current Noncurrent Deferred tax assets: Net operating loss carry-forward $ 554 $ 25,103 $ 982 $ 22,356 Stock-based compensation — 8,922 — 9,032 Chargeback reserves — — 83 — Reserve for product returns 16,208 — 17,932 — Inventory valuation reserve 11,503 — 7,819 — Long-term debt — 6,383 — 9,448 Other 16,957 1,851 19,085 1,236 Total deferred tax assets $ 45,222 $ 42,259 $ 45,901 $ 42,072 Valuation allowance — (9,856 ) — (8,807 ) Net deferred tax assets $ 45,222 $ 32,403 $ 45,901 $ 33,265 Deferred tax liabilities: Prepaid expenses $ (3,091 ) $ — $ (2,877 ) $ — Inventory step-up — — — — Unamortized discount – convertible notes — — — (267 ) Depreciation & amortization – tax over book — (226,855 ) — (260,622 ) Other — — — (1 ) Total deferred tax liabilities $ (3,091 ) $ (226,855 ) $ (2,877 ) $ (260,890 ) Net deferred income tax asset (liability) $ 42,131 $ (194,452 ) $ 43,024 $ (227,625 ) The Company records a valuation allowance to reduce net deferred income tax assets to the amount that is more likely than not to be realized. In performing its analysis of whether a valuation allowance to reduce the deferred income tax asset was necessary, the Company evaluated the data and determined that as of December 31, 2014 it could not conclude that it was more likely than not that certain of the net operating losses of its Indian and Swiss subsidiaries would be realized. Accordingly, the Company established a valuation allowance of $9.9 million , $8.8 million and $1.1 million against its deferred tax assets as of December 31, 2016 , 2015 and 2014, respectively. The deferred tax balances have been reflected gross on the balance sheet and are netted only if they are in the same jurisdiction. The Company’s net operating loss (“NOL”) carry-forwards as of December 31, 2016 consist of four component pieces: (i) U.S. Federal NOL carry-forwards valued at $6.5 million , (ii) Illinois NOL carry-forwards valued at $0.2 million , (iii) foreign (Indian) NOLs of $14.7 million and (iv) foreign (Swiss) NOLs of $4.3 million . The U.S. Federal NOL carry-forwards were obtained through the Merck Acquisition completed in the fourth quarter of 2013. The Illinois NOL carry-forwards relate to the Company’s tax losses in the decade of the 2000s and have not yet been fully utilized due to the State of Illinois’s suspension of the use of NOLs for the years 2011, 2012 and 2013. These NOLs would be due to expire from 2021 to 2025, and are expected to be utilized well before their expiration dates. The Indian NOL carry-forwards relate to operating losses by the Company’s subsidiary in India, which was acquired in 2012. Of the $14.7 million Indian NOL, $5.6 million expires beginning in 2022; the Company has established a valuation allowance against this entire amount. The remaining $9.1 million of the Indian NOLs can be carried forward indefinitely, and the Company has concluded that they are more likely than not to be utilized and therefore has not established a valuation allowance against them. The Swiss NOL was obtained through the Hettlingen Acquisition completed in the first quarter of 2015. It begins to expire in 2016 and, accordingly, the Company has established a valuation allowance against the entire amount. The Company is currently undergoing an examination of its Federal income tax return for the year ended December 31, 2013 by the Internal Revenue Service. Additionally, the Company is undergoing examinations by Illinois and Massachusetts for various tax years. The Company’s U.S. Federal income tax returns filed for years 2013 through 2015 are open for examination by the Internal Revenue Service. The majority of the Company’s state and local income tax returns filed for years 2013 through 2015 remain open for examination as well. In accordance with ASC 740-10-25 - Income Taxes — Recognition , the Company performs reviews of its tax positions to determine whether it is “more likely than not” that its tax positions will be sustained upon examination, and if any tax positions are deemed to fall short of that standard, the Company reserves based on the financial exposure and the likelihood of its tax positions not being sustained. Based on its review as of December 31, 2016 , the Company determined that it would not recognize tax benefits as follows (in thousands): Balance at December 31, 2013 $ 845 Additions relating to 2014 709 Additions relating to acquired entities 456 Balance at December 31, 2014 $ 2,010 Additions relating to 2015 356 Payments of amounts relating to prior years (81 ) Balance at December 31, 2015 $ 2,285 Additions relating to 2016 303 Terminations of exposures relating to prior years (1,287 ) Balance at December 31, 2016 $ 1,301 If recognized, $1.1 million of the above positions will impact the Company’s effective rate, while the remaining $0.2 million will result in a reduction of the Company’s goodwill. Due to the uncertainty of both timing and resolution of potential income tax examinations, the Company is unable to determine whether any amounts included in the December 31, 2016 balance of unrecognized tax benefits represent tax positions that could significantly change during the next twelve months. The Company accounts for interest and penalties as income tax expense.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information During the year ended December 31, 2014, the Company acquired Hi-Tech and as a result, underwent a change in the organizational and reporting structure of the Company’s reportable segments, establishing two reporting segments that each report to the Chief Operating Decision Maker (“CODM”), as defined in ASC Topic 280 - Segment Reporting , and CEO. Our performance will is assessed and resources allocated by the CODM based on the following two reportable segments: • Prescription Pharmaceuticals • Consumer Health The Company’s Prescription Pharmaceutical segment principally consists of generic and branded Prescription Pharmaceuticals products which span a broad range of indications as well as a variety of dosage forms including: sterile ophthalmics, injectables and inhalants, and non-sterile oral liquids, topicals and nasal sprays. The Company’s Consumer Health segment principally consists of animal health and OTC products, both branded and private label. OTC products include a suite of products for the treatment of dry eye sold under the TheraTears® brand name. Financial information about each of the Company’s reportable segments is based upon internal financial reports that aggregate certain operating information. The Company’s CEO oversees operational assessments and resource allocations based upon the results of the Company’s reportable segments, which have available and discrete financial information. Selected financial information by reporting segment is presented below (in thousands): Years ended December 31, 2016 2015 2014 REVENUES, NET: Prescription Pharmaceuticals $ 1,053,579 $ 924,472 $ 504,688 Consumer Health 63,264 60,604 50,360 Total revenues, net $ 1,116,843 $ 985,076 $ 555,048 GROSS PROFIT: Prescription Pharmaceuticals $ 645,078 $ 566,298 $ 233,833 Consumer Health 29,193 29,714 27,527 Total gross profit $ 674,271 $ 596,012 $ 261,360 The Company manages its reportable business segments to the gross profit level and manages its operating and other costs on a company-wide basis. Inter-segment activity at the gross profit level is minimal. The Company does not have discrete assets by segment, as certain manufacturing and warehouse facilities support more than one segment, and therefore does not report assets by segment. Financial information including revenues and gross profit from external customers by product or product line is not provided, as to do so would be impracticable. During the years ended December 31, 2016 , 2015 and 2014 , approximately $26.3 million , $37.0 million and $16.6 million of the Company’s net revenue, respectively, was from customers located in foreign countries. All of the net revenue is related to our Prescription Pharmaceutical segment. Goodwill from the Company’s acquisition of Advanced Vision Research, Inc. in May 2011, the acquisition of selected assets of Kilitch Drugs (India) Limited in February 2012, the acquisition of Hi-Tech and subsequent disposal of the Watson assets on April 17, 2014, the disposal of the ECR component on June 20, 2014 and the acquisition of VersaPharm on August 12, 2014, have been allocated to the appropriate reportable segment and reporting unit. The carrying amounts of goodwill by segment were as follows (in thousands): Prescription Pharmaceuticals Consumer Health Total December 31, 2014 $ 268,566 $ 16,717 $ 285,283 Acquisitions and other adjustments — — — Impairments — — — Dispositions — — — Foreign currency translations (573 ) — (573 ) December 31, 2015 $ 267,993 $ 16,717 $ 284,710 Acquisitions and other adjustments — — — Impairments — — — Dispositions — — — Foreign currency translations (417 ) — (417 ) December 31, 2016 $ 267,576 $ 16,717 $ 284,293

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has entered into strategic business agreements for the development and marketing of finished dosage form pharmaceutical products with various pharmaceutical development companies. Each strategic business agreement includes a future payment schedule for contingent milestone payments and in certain strategic business agreements, minimum royalty payments. The Company will be responsible for contingent milestone payments and minimum royalty payments to these strategic business partners based upon the occurrence of future events. Each strategic business agreement defines the triggering event of its future payment schedule, such as meeting product development progress timelines, successful product testing and validation, successful clinical studies, various FDA and other regulatory approvals and other factors as negotiated in each agreement. None of the contingent milestone payments or minimum royalty payments is individually material to the Company. The Company is engaged in various supply agreements with third parties which obligate the Company to purchase various API or finished products at contractual minimum levels. None of these agreements are individually or in aggregate material to the Company. Further, the Company does not believe at this time that any of the purchase obligations represent levels above that of normal business demands. The table below summarizes contingent, potential milestone payments due to strategic partners in the years 2017 and beyond, assuming all such contingencies occur (in thousands): Year ending December 31, Milestone Payments 2017 $ 9,462 2018 3,788 2019 250 2020 — Total $ 13,500 The Company is a party in legal proceedings and potential claims arising in the ordinary course of its business. The amount, if any, of ultimate liability with respect to such matters cannot be determined. Despite the inherent uncertainties of litigation, management of the Company believes that the ultimate disposition of such proceedings and exposures will not have a material adverse impact on the financial condition, results of operations, or cash flows of the Company. Legal proceedings which may have a material effect on the Company have been further disclosed in Note 20 - “ Legal Proceedings ” and are herein incorporated by reference.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information (in thousands) Year ended December 31, 2016 2015 2014 Amount paid for interest $ 44,063 $ 54,763 $ 31,413 Amount paid for income taxes, net 132,695 34,404 6,294 Non-cash conversion of convertible notes to common shares 43,215 44,310 32,475 Capital expenditures 12,391 5,074 1,737

Recently Issued and Adopted Acc

Recently Issued and Adopted Accounting Pronouncements	12 Months Ended
	Dec. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Recently Issued and Adopted Accounting Pronouncements	Recently Issued and Adopted Accounting Pronouncements Recently Issued Accounting Pronouncements In November 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force), which addresses classification and presentation of changes in restricted cash on the statement of cash flows. The standard requires an entity’s reconciliation of the beginning-of-period and end-of-period total amounts shown on the statement of cash flows to include in cash and cash equivalents amounts generally described as restricted cash and restricted cash equivalents. The ASU does not define restricted cash or restricted cash equivalents, but an entity will need to disclose the nature of the restrictions. The ASU is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2018, and interim periods in fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, adjustments should be reflected at the beginning of the fiscal year that includes that interim period. Entities should apply this ASU using a retrospective transition method to each period presented. The Company is currently evaluating the impact that ASU 2016-18 will have on its statement of financial position or financial statement disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments. This standard amends and adjusts how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years and will require adoption on a retrospective basis unless impracticable. If impracticable the Company would be required to apply the amendments prospectively as of the earliest date possible. The Company is currently evaluating the impact that ASU 2016-15 will have on its statement of financial position or financial statement disclosures. In February 2016, the FASB issued ASU 2016-02 - Leases which establishes a comprehensive new lease accounting model. The new standard clarifies the definition of a lease and causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases with a lease term of more than one year. ASU 2016-02 is effective for financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. Upon adoption, the operating leases reporting in Note 9 - Leasing Arrangements, will be reported on the statement of financial position as gross-up assets and liabilities. The Company is currently evaluating the impact that ASU 2016-02 will have on its statement of financial position or financial statement disclosures. In July 2015, the FASB issued ASU 2015-11 - Inventory. ASU 2015-11 simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company has evaluated that ASU 2015-11 will have no material impact on its consolidated financial statements or financial statement disclosures upon adoption. Revenue Recognition Related ASUs: In December 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. The amendments in this ASU affect narrow aspects of the guidance in ASU 2014-09, which is not yet effective. The amendments in this ASU address loan guarantee fees, impairment testing of contract costs, provisions for losses on construction-type and production-type contracts, and various disclosures. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by ASU 2014-09). ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of ASU 2014-09 by one year. In May 2016, the FASB issued ASU 2016-12 - Narrow-Scope Improvements and Practical Expedients. This standard amends the guidance in ASU 2014-09 to specifically provide a practical expedient for reflecting contract modifications at transition. The effective date for ASU 2016-12 is the same as the effective date for ASU 2014-09, ASU 2015-14, ASU 2016-08 and ASU 2016-10. In April 2016, the FASB issued ASU 2016-10 - Revenue from Contracts with Customers (Topic 606) — Identifying Performance Obligations and Licensing. This standard amends the guidance in ASU 2014-09 and ASU 2016-08 specifically related to identifying performance obligations and accounting for licenses of intellectual property. The effective date for ASU 2016-10 is the same as the effective date for ASU 2014-09, ASU 2015-14 and ASU 2016-08. In March 2016, the FASB issued ASU 2016-08 - Revenue from Contracts with Customers: Principal versus Agent Considerations. The amendments of this standard are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. The effective date for ASU 2016-08 is the same as the effective date for ASU 2014-09 and ASU 2015-14. In August 2015, the FASB issued ASU No. 2015-14 - Revenue from Contracts with Customers (Topic 606) - Deferral of the Effective Date, which defers the effective date of ASU 2014-09 for one year and permits early adoption as early as the original effective date of ASU 2014-09. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. In May 2014, FASB issued ASU 2014-09 - Revenue from Contracts with Customers, which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605 - Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in ASC 605-35 - Revenue Recognition-Construction-Type and Production-Type Contracts. The standard’s core principle is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. The ASU defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company may adopt the new standard under the full retrospective approach or the modified retrospective approach, as permitted under the standard. Early adoption of the standard is not permitted. This ASU and related updates are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We have completed an initial review of the contracts for our three largest customers to determine the impact that ASU 2014-09 and its subsequent updates through December 31, 2016 will have on the Company's consolidated financial statements or financial statement disclosures upon adoption. Based on our preliminary review, we believe that the timing and measurement of revenue for these customers will be similar to our current revenue recognition. However, this view is preliminary and could change based on the detailed analysis associated with the conversion and implementation phases of our ASU 2014-09 project. We will complete our assessment during 2017, and will include other significant wholesale and retail customers as part of the review. Recently Adopted Accounting Pronouncements In August 2014, the FASB issued ASU 2014-15 - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for financial statements issued for fiscal years ending after December 15, 2016, and interim periods thereafter. ASU 2014-15 - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern was adopted by the Company for the year ending December 31, 2016. In connection with the preparation of the financial statements for the year ended December 31, 2016 , the Company conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity's ability to continue as a going concern within one year after the date of the issuance, or the date of availability, of the financial statements to be issued, noting that there did not appear to be evidence of substantial doubt of the entity's ability to continue as a going concern. In March 2016, the FASB issued ASU 2016-09 - Compensation - Stock Compensation, which simplifies the accounting for the tax effects related to stock based compensation, including adjustments to how excess tax benefits and a company's payments for tax withholdings should be classified, amongst other items. ASU 2016-09 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years with early adoption permitted. ASU 2016-09 was early adopted by the Company for the year beginning January 1, 2016 and resulted in various effects, most notably a reduction in income tax expense of $11.4 million due to stock option exercises in the year ended December 31, 2016. In November 2015, the FASB issued ASU 2015-17 - Balance Sheet Classification of Deferred Taxes to simplify the presentation of deferred income taxes. ASU 2015-17 - Balance Sheet Classification of Deferred Taxes requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 - Balance Sheet Classification of Deferred Taxes is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. ASU 2015-17 - Balance Sheet Classification of Deferred Taxes was early adopted by the Company for the year beginning January 1, 2016 resulting in the reclassification of the current portion of deferred tax assets to non-current deferred tax assets for the years ended December 31, 2016 and 2015. In September 2015, the FASB issued ASU 2015-16 - Business Combinations. ASU 2015-16 - Business Combinations simplifies the accounting for measurement-period adjustments by requiring adjustments to provisional amounts in a business combination to be recognized in the reporting period in which the adjustment amounts are determined and eliminates the requirement to retrospectively account for those adjustments. ASU 2015-16 - Business Combinations requires an entity to present separately on the face of the income statement or disclose in the notes the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 - Business Combinations was adopted by the Company for the year beginning January 1, 2016 and did not have a material impact on the Company's condensed consolidated financial statements or financial statement disclosures. In April 2015, the FASB issued ASU 2015-03 - Interest - Imputation of Interest, which simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. ASU 2015-03 was adopted by the Company for the year beginning January 1, 2016 resulting in the reclassification of the deferred financing fees to the respective face value of debt outstanding for the years ended December 31, 2016 and 2015. In April 2014, the FASB issued ASU No. 2014-08 - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , which changes the criteria for reporting discontinued operations while enhancing disclosures in this area. Pursuant to ASU 2014-08 , only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, which were not expected to have continuing cash flows should be presented as a discontinued operation. If the disposal does qualify as a discontinued operation under ASU 2014-08 , the entity will be required to provide expanded disclosures. ASU 2014-08 was adopted by the Company for the year beginning January 1, 2015 and did not have a material impact on the Company’s consolidated financial statements. In July 2013, the FASB issued ASU 2013-11 - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 was issued to eliminate the diversity in practice in presentation of unrecognized tax benefits, and amends ASC 740 - Income Taxes, to provide clarification of the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. According to the new guidance, unrecognized tax benefits will be netted against all available same-jurisdiction loss or other tax carryforward that would be utilized, rather than only being netted against carryforwards that are created by the unrecognized tax benefits. The revised guidance was adopted by the Company for the year beginning January 1, 2014 and did not have a material impact on the Company’s consolidated financial statements.

Business Combinations and Other

Business Combinations and Other Strategic Investments	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Business Combinations, Dispositions and Other Strategic Investments	Business Combinations and Other Strategic Investments Excelvision AG On July 22, 2014, Akorn International S.à r.l., a wholly owned subsidiary of Akorn, Inc. entered into a share purchase agreement with Fareva SA, a private company headquartered in France to acquire all of the issued and outstanding shares of capital stock of its wholly owned subsidiary, Excelvision AG for 21.7 million CHF, net of certain working capital and inventory amounts. Excelvision AG was a contract manufacturer located in Hettlingen, Switzerland specializing in ophthalmic products. On April 1, 2016 the name of Excelvision AG was changed to Akorn AG. On January 2, 2015, the Company acquired all of the outstanding shares of capital stock of Excelvision AG for $28.4 million U.S. dollars (“USD”) funded through available cash on hand including other net working capital and inventory amounts. The Company’s acquisition of Akorn AG is being accounted for as a business combination in accordance with ASC 805 - Business Combinations . The purpose of the acquisition was to expand the Company’s manufacturing capacity. During the years ended December 31, 2016 , 2015 and 2014 , the Company recorded approximately $0.1 million , $0.2 million and $0.3 million , respectively, in acquisition-related expenses in connection with the Akorn AG Acquisition. These expenses principally consisted of various legal fees and other acquisition costs which have been recorded within “acquisition related costs” as part of operating expenses in the Company’s condensed and consolidated statements of comprehensive income. The following table sets forth the consideration paid for the Akorn AG acquisition and the fair values of the acquired assets and assumed liabilities (in millions of USD) as of the acquisition date adjusted in accordance with GAAP. The figures below may differ from historical financial results of Akorn AG. Consideration: Amount of cash paid $ 25.9 Outstanding amount payable to Fareva 2.5 Total consideration at closing $ 28.4 Recognized amounts of identifiable assets acquired: Cash and cash equivalents $ 1.2 Accounts receivable 3.4 Inventory 4.2 Other current assets 0.9 Property and equipment 26.6 Total assets acquired 36.3 Assumed current liabilities (1.7) Assumed non-current liabilities (3.9) Deferred tax liabilities (1.4) Total liabilities assumed (7.0) Bargain purchase gain (0.9 ) Fair value of assets acquired $ 28.4 Through its acquisition of Akorn AG the Company recognized a bargain purchase gain of $0.9 million which was largely derived from the difference between the fair value and the book value of the property and equipment acquired through the acquisition. Bargain purchase gain has been recognized within consolidated net income for the year ended December 31, 2015. During the years ended December 31, 2016 and 2015 , the Company recorded net revenue of approximately $18.8 million and $27.5 million related to sales from the Akorn AG location subsequent to acquisition. Other Individually Insignificant Product Acquisitions During the years ended December 31, 2016 and 2015 , the Company paid $3.9 million and $3.8 million , respectively, for the acquisition of drug product licensing rights (NDA, ANDA and ANADA rights) which were not individually significant. No assets were acquired other than the drug rights, and no liabilities were assumed. Other Strategic Investments On August 1, 2011, the Company entered into a Series A-2 Preferred Stock Purchase Agreement to acquire a minority ownership interest in Aciex Therapeutics Inc. (“Aciex”), a private ophthalmic development pharmaceutical company based in Westborough, MA, for $8.0 million in cash. Subsequently, on September 30, 2011, the Company entered into Amendment No. 1 to Series A-2 Preferred Stock Purchase Agreement to acquire additional shares of Series A-2 Preferred Stock in Aciex for approximately $2.0 million in cash. On April 17, 2014, the Company entered into a Secured Note and Warrant Purchase Agreement to acquire secured, convertible promissory notes of Aciex for approximately $0.4 million in cash. On June 27, 2014, the Company entered into a second Secured Note and Warrant Purchase Agreement to acquire additional secured, convertible promissory notes of Aciex for an additional amount of approximately $0.4 million . The Company’s aggregate investment in Aciex was $10.8 million at cost. Aciex was an ophthalmic drug development company focused on developing novel therapeutics to treat ocular diseases. Aciex’s pipeline consisted of both clinical stage assets and pre-Investigational new drug stage assets. The investments detailed above provided the Company with an ownership interest in Aciex of below 20% . The Aciex Agreement and Aciex Amendment contained certain customary rights and preferences over the common stock of Aciex and further provided that the Company shall have had the right to a seat on the Aciex board of directors. On July 2, 2014, Nicox S.A. (“Nicox”), an international company, entered into an arrangement to acquire all of the outstanding equity of Aciex (the “Aciex Acquisition”). On October 22, 2014, Nicox shareholders voted at the Nicox General Meeting to approve the Aciex Acquisition. The transaction was consummated on October 24, 2014, following the completion of certain legal conditions and formalities. As consideration for its carried investment in Aciex, the Company received from the Aciex Acquisition pro-rata shares of Nicox which are publically traded on the Euronext Paris exchange. Through the closing, the Company received approximately 4.3 million shares of Nicox which were subject to certain lockup provisions preventing immediate sale of the underlying shares received. Through the years ended December 31, 2015 and 2014, the Company sold 1.1 million and 0.2 million unrestricted shares for $2.6 million and $0.6 million , realizing a loss of $0.2 million and an immaterial gain on the sale of shares, respectively. For the year ended December 31, 2016, the Company sold 0.5 million shares of the available-for-sale securities for $6.0 million , realizing an immaterial loss. In accordance with ASC 820 - Fair Value Measurement , the Company records unrealized holding gains and losses on available-for-sale securities in the “Accumulated other comprehensive income” caption in the Consolidated Balance Sheet. As of December 31, 2016, the Company recognized an unrealized holding loss of $0.4 million as calculated based on the discounted value of the investment given the contractual lockup provisions. The Company has determined that all of the $1.1 million of unrealized fair value associated with the investment is available to be converted to cash within one year from the balance sheet date and has been classified as a current asset.

Customer, Supplier and Product

Customer, Supplier and Product Concentration	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Customer, Supplier and Product Concentration	Customer, Supplier and Product Concentration Customer Concentration In the years ended December 31, 2016 , 2015 and 2014 , a significant portion of the Company’s gross and net sales reported were through three large wholesale drug distributors, and a significant portion of the Company’s accounts receivable as of December 31, 2016 , 2015 and 2014 were due from these wholesale drug distributors as well. AmerisourceBergen Health Corporation (“Amerisource”), Cardinal Health, Inc. (“Cardinal”) and McKesson Drug Company (“McKesson”) are all distributors of the Company’s products, as well as suppliers of a broad range of health care products. Aside from these three wholesale drug distributors, no other customers accounted for more than 10% of gross sales, net revenues or gross trade receivables for the indicated dates and periods. The following table sets forth the percentage of the Company’s gross and net sales and gross accounts receivable attributable to these three distributors for the periods indicated: 2016 2015 2014 Gross Sales Net Revenue Gross Accounts Receivable Gross Sales Net Revenue Gross Accounts Receivable Gross Sales Net Revenue Gross Accounts Receivable Amerisource 29.5% 23.3% 35.6% 28.0% 23.2% 28.8% 38.3% 29.2% 45.4% Cardinal 15.4% 16.3% 15.1% 19.7% 19.5% 26.1% 15.9% 13.6% 16.9% McKesson 32.5% 24.2% 33.2% 30.1% 27.3% 27.9% 22.7% 19.1% 22.7% Combined Total 77.4% 63.8% 83.9% 77.8% 70.0% 82.8% 76.9% 61.9% 85.0% If sales to Amerisource, Cardinal or McKesson were to diminish or cease, the Company believes that the end users of its products would find little difficulty obtaining the Company’s products from another distributor. Further, the Company is subject to credit risk from its accounts receivable, more heavily weighted to Amerisource, Cardinal and McKesson, but as of and for the years ended December 31, 2016 , 2015 and 2014 , the Company has not experienced significant losses with respect to its collection of these gross accounts receivable balances. Supplier Concentration The Company requires a supply of quality raw materials and components to manufacture and package pharmaceutical products for its own use and for third parties with which it has contracted. The principal components of the Company’s products are active and inactive pharmaceutical ingredients and certain packaging materials. Certain of these ingredients and components are available from only a single source and, in the case of many of our products, only one supplier of raw materials has been identified and qualified. Because FDA approval of drugs requires manufacturers to specify their proposed suppliers of active ingredients and certain packaging materials in their applications, FDA approval of any new supplier would be required if such active ingredients or such packaging materials were no longer available from the specified supplier. The qualification of a new supplier could delay the Company’s development and marketing efforts. In addition, certain of the pharmaceutical products marketed by the Company are manufactured by a third party manufacturer that serves as the Company’s sole source of that finished product. If for any reason the Company is unable to obtain sufficient quantities of any of the raw materials or components required to produce and package its products, it may not be able to manufacture its products as planned, which could have a material adverse effect on the Company’s business, financial condition and results of operations. Likewise, if the Company’s manufacturing partners experience any similar difficulties in obtaining raw materials or in manufacturing the finished product, the Company’s results of operations would be negatively impacted. No individual supplier represented 10% or more of the Company’s purchases in any of the years ended December 31, 2016 , 2015 and 2014 . Product Concentration In the year ended December 31, 2016 , one unapproved Prescription Pharmaceutical product represented approximately 20% of the Company’s total net sales revenue, while in the years ended December 31, 2015 and 2014 , none of the Company’s products represented 10% or more of net revenue. The Company attempts to minimize the risk associated with product concentration by continuing to acquire and develop new products to add to its portfolio.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During the years ended December 31, 2016 , 2015 and 2014 , the Company obtained legal services totaling $1.3 million , $1.7 million and $2.1 million , respectively, of which $0.0 million and $0.4 million was payable as of December 31, 2016 and 2015 , respectively, from Polsinelli PC, a law firm for which the spouse of the Company’s Executive Vice President, General Counsel and Secretary is an attorney and shareholder. The Company also obtained and paid legal services totaling $0.1 million during the year ended December 31, 2016 from Segal McCambridge Singer & Mahone, a firm for which the brother in law of the Company's Executive Vice President, General Counsel and Secretary is a partner.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	Selected Quarterly Financial Data (Unaudited) Net Income (Loss) (In thousands, except per share amounts) Revenues Gross Profit Operating Income Amount Per Basic Share Per Diluted Share Year Ended December 31, 2016: 4th Quarter $ 283,667 $ 169,254 $ 60,796 $ 32,455 $ 0.26 $ 0.26 3rd Quarter 284,095 170,227 86,828 47,909 0.38 0.38 2nd Quarter 280,734 171,773 92,368 61,993 0.51 0.50 1st Quarter 268,347 163,017 87,579 41,886 0.35 0.34 Year Ended December 31, 2015: 4th Quarter $ 279,977 $ 174,430 $ 64,475 $ 32,785 $ 0.27 $ 0.27 3rd Quarter 256,801 163,012 90,767 47,967 0.40 0.39 2nd Quarter 220,920 128,407 66,102 32,508 0.28 0.27 1st Quarter 227,378 130,163 73,267 37,538 0.33 0.31

Legal Proceedings

Legal Proceedings	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block Supplement [Abstract]
Legal Proceedings	Legal Proceedings. Shareholder and Derivative Litigation . On March 4, 2015, a purported class action complaint was filed entitled Yeung v. Akorn, Inc., et al. , in the federal district court of Northern District of Illinois, No. 15-cv-1944. The complaint alleged that the Company and three of its officers violated the federal securities laws in connection with matters related to its accounting and financial reporting in the wake of its acquisitions of Hi-Tech Pharmaceutical Co., Inc. and VersaPharm, Inc. A second, related case entitled Sarzynski v. Akorn, Inc., et al. , No. 15-cv-3921, was filed on May 4, 2015 making similar allegations. On August 24, 2015, the two cases were consolidated and a lead plaintiff appointed in In re Akorn, Inc. Securities Litigation. On July 5, 2016, the lead plaintiff group filed a consolidated amended complaint making similar allegations against the Company and an officer and former officer of the Company. The consolidated amended complaint seeks damages on behalf of the putative class. On August 9, 2016, the defendants filed a motion to dismiss the case. The motion has been fully briefed and is pending with the court. The Company’s Board of Directors also received shareholder demand letters and four shareholder derivative lawsuits have been filed alleging breaches of fiduciary duty in connection with the Company’s accounting for its acquisition and the restatement of its financials. The demands request that legal action be taken against certain of the Company’s directors and officers or former officers and other actions. The Company’s Board of Directors formed a special committee to conduct an inquiry into the demand allegations and to provide its conclusions and recommendations to the Board. The Board has completed that process and concluded that it would not be in the best interest of the Company to pursue such claims. Two of the derivative lawsuits, Safriet v. Rai, et al., No. 15-cv-7275, and Glaubach v. Rai, et al ., No. 15- 11129, were filed in the Northern District of Illinois. These cases have been stayed pending anticipated rulings on the defendants’ motion to dismiss in In re Akorn, Inc. Securities Litigation. A third lawsuit, Kogut v. Akorn, Inc., et al ., No. 646174, was filed in Louisiana state court in the Parish of East Baton Rouge, on March 8, 2016. On June 10, 2016, the plaintiff filed an amended complaint asserting shareholder derivative claims similar to the others asserted in the other derivative lawsuits. On September 23, 2016, the Company filed a motion to dismiss the case. Briefing on that motion is not yet complete. A fourth lawsuit, Miller v. Rai, et al. , No. 16 CH 1363, was filed on September 8, 2016 in Illinois state court in the Circuit Court of Lake County. On October 17, 2016, defendants filed a motion to dismiss the case. Briefing on that motion is not yet complete. Fera Pharmaceuticals, LLC v. Akorn Inc., Sean Brynjelsen, and Michael Stehn , in the United States District Court for the Southern District of New York, Case No. 12-cv-07692-LLS. Fera Pharmaceuticals, LLC (“Fera”) filed this action on September 12, 2012. The defendants in the case are the Company, one former employee of the Company, Sean Brynjelsen and a current employee of the Company, Michael Stehn. The amended complaint generally alleges that the Company breached certain terms of a contract manufacturing supply agreement by, among other things, failing to manufacture Fera’s products, raising the manufacturing cost, and impermissibly terminating the contract. In addition, Fera alleges that the Company misappropriated Fera’s trade secrets in order to manufacture Erythromycin and Bacitracin for its own benefit. The counts in the amended complaint are for (1) breach of contract, (2) misappropriation of trade secrets, (3) fraudulent inducement, and (4) declaratory and injunctive relief. Fera seeks $135 million in compensatory damages, an additional, unspecified amount in punitive damages, and injunctive relief restraining the Company from selling the products at issue in the case. The Company filed a counterclaim against Fera and certain affiliates, as well as Perrigo Company of Tennessee and Perrigo Company plc, asserting violations of Sections 1 and 2 of the Sherman Act and tortious interference with business relations. The case is still in the discovery phase, and no trial date has been scheduled. State of Louisiana v. Abbott Laboratories, Inc., et al. The Louisiana Attorney General filed suit, Number 624,522, Nineteenth Judicial District Court, Parish of East Baton Rouge, including Hi-Tech Pharmacal and other defendants, in Louisiana state court. Louisiana’s complaint alleges that the defendants violated Louisiana state laws in connection with Medicaid reimbursement for certain vitamins, dietary supplements, and DESI products that were allegedly ineligible for reimbursement. The defendants filed exceptions of no cause of action and no right of action in response to Louisiana’s amended complaint. In a judgment entered on October 2, 2015, the trial court sustained the defendants’ exception of no right of action, which dismissed all of Louisiana’s claims. Louisiana sought appellate review of the court’s decision by filing an application for supervisory writs, as well as an appeal pending in the First Circuit Court of Appeal in Louisiana. On October 21, 2016, the First Circuit Court of Appeal affirmed the trial court’s judgment in part, reversed it in part, and remanded the case for further proceedings. Specifically, the First Circuit affirmed the dismissal of four of the six causes of action pled in Louisiana’s amended complaint, but reversed the dismissal with respect to the two remaining statutory claims. On November 4, 2016, Louisiana filed an application for rehearing with respect to the First Circuit’s affirmance. On December 22, 2016, the First Circuit denied Louisiana’s application. On January 20, 2017, Louisiana filed an application for certiorari in the Louisiana Supreme Court as to the portion of the First Circuit’s decision affirming the trial court’s judgment. On January 23, 2017, the defendants filed an application for certiorari in the Louisiana Supreme Court as to the portion of the First Circuit’s decision reversing the trial court’s judgment. Both applications remain pending. Former Hi-Tech director and employee Reuben Seltzer delivered to the Company a demand letter in August 2014 alleging that the Company breached his employment agreement and improperly terminated Mr. Seltzer’s employment. In the fourth quarter of 2016, the Company and Mr. Seltzer entered into a confidential settlement agreement and release agreement resolving all matters in dispute. In addition to the foregoing matters, Akorn has received shareholder demands for legal action to be taken against certain of the Company’s directors and officers based on alleged breaches of fiduciary duties and other misconduct in connection with the Company’s restatement of financial results and other matters. Akorn’s Board of Directors formed a special committee that conducted an inquiry into the demand allegations and provided its conclusions and recommendations to the Board. Other Matters The Chicago Regional Office of the Securities and Exchange Commission (SEC) is conducting an investigation regarding the previously disclosed restatement, internal controls and other related matters. Additionally, the United States Attorney’s Office for the Southern District of New York (USAO) has requested information regarding these matters. Akorn has been furnishing requested information and is fully cooperating with the SEC and USAO. The legal matters discussed above could result in losses, including damages, fines and civil penalties, and criminal charges, which could be substantial. We record accruals for these contingencies to the extent that we conclude that a loss is both probable and reasonably estimable. As of the date of this filing, although the Company has determined that liabilities associated with these legal matters is reasonably possible, they cannot be reasonably estimated. Given the nature of the litigation and investigations discussed above and the complexities involved, the Company is unable to reasonably estimate a possible loss for such matters until the Company knows, among other factors, (i) what claims, if any, will survive dispositive motion practice, (ii) the extent of the claims, including the size of any potential class, particularly when damages are not specified or are indeterminate, (iii) how the discovery process will affect the litigation, (iv) the settlement posture of the other parties to the litigation and (v) any other factors that may have a material effect on the litigation or investigation. However, we could incur judgments, enter into settlements or revise our expectations regarding the outcome of certain matters, and such developments could have a material adverse effect on our results of operations in the period in which the amounts are accrued and/or our cash flows in the period in which the amounts are paid.

Share Repurchases

Share Repurchases	12 Months Ended
	Dec. 31, 2016
Equity [Abstract]
Share Repurchases	Share Repurchases In July 2016, the Company announced that the Board of Directors authorized a stock repurchase program (the "Stock Repurchase Program") pursuant to which the Company may repurchase up to $200.0 million of the Company’s common stock. The shares may be repurchased from time to time in open market transactions at prevailing market prices, in privately negotiated transactions or others, including accelerated stock repurchase arrangements, pursuant to a Rule 10b5-1 repurchase plan or by other means in accordance with federal securities laws. The timing and the amount of any repurchases will be determined by the Company’s management based on its evaluation of market conditions, capital allocation alternatives, and other factors. There is no guarantee as to the number of shares that will be repurchased, and the repurchase program may be suspended or discontinued at any time without notice and at the Company's discretion, and at this time no estimate to the effect on the results of the Company due to the Stock Repurchase Program can be made. During the three months and year ended December 31, 2016 , the Company repurchased 0.9 million and 1.8 million shares at an average price of $22.06 and $24.89 , respectively. In aggregate, over the life of the Stock Repurchase Program the Company has repurchased 1.8 million shares at an average purchase price of $24.89 . As of December 31, 2016 , the Company had $155.0 million remaining under the repurchase authorization. Companies incorporated under Louisiana law are subject to the Louisiana Business Corporation Act ("LBCA"). Provisions of the LBCA eliminate the concept of treasury stock. As a result, all stock repurchases are presented as a reduction to issued shares of common stock, the stated value of common stock and retained earnings.

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation	Consolidation: The accompanying consolidated financial statements include the accounts of Akorn, Inc. and its wholly owned domestic and foreign subsidiaries. All inter-company transactions and balances have been eliminated in consolidation, and the financial statements of Akorn India Private Label (“AIPL”) and Akorn AG have been translated from Indian Rupees to U.S. dollars and Swiss Francs to U.S. dollars, respectively, based on the currency translation rates in effect during the period or as of the date of consolidation, as applicable. The Company has no involvement with variable interest entities.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ materially from those estimates. Significant estimates and assumptions for the Company relate to the allowances for chargebacks, rebates, product returns, coupons, promotions and doubtful accounts, as well as the reserve for slow-moving and obsolete inventories, the carrying value and lives of intangible assets, the useful lives of fixed assets, the carrying value of deferred income tax assets and liabilities, the assumptions underlying share-based compensation, accrued but unreported employee benefit costs and assumptions underlying the accounting for business combinations.
Going Concern	Going Concern: In connection with the preparation of the financial statements for the year ended December 31, 2016 , the Company conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity's ability to continue as a going concern within one year after the date of the issuance, or the date of availability, of the financial statements to be issued, noting that there did not appear to be evidence of substantial doubt of the entity's ability to continue as a going concern.
Revenue Recognition	Revenue Recognition: Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the sales price is fixed or determinable, and collectability is reasonably assured. Revenues from product sales are recognized when title and risk of loss have passed to the customer. Provision for estimated chargebacks, rebates, discounts, managed care rebates, product returns and doubtful accounts is made at the time of sale and is analyzed and adjusted, if necessary, at each balance sheet date.
Freight	Freight: The Company records amounts billed to customers for shipping and handling as revenue, and records shipping and handling expense related to product sales as cost of sales.
Cash and Cash Equivalents	Cash and Cash Equivalents: The Company considers all unrestricted, highly liquid investments with maturity of three months or less when purchased to be cash and cash equivalents. At December 31, 2016 and 2015, approximately $3.3 million and $4.3 million of cash held by AIPL as of those dates was restricted, and was reported within prepaid expenses and other current assets and other non-current assets , respectively.
Accounts Receivable	Accounts Receivable: Trade accounts receivable are stated at their net realizable value. The nature of the Company’s business involves, in the ordinary course, significant judgments and estimates relating to chargebacks, coupon redemption, product returns, rebates, discounts given to customers and allowances for doubtful accounts. Depending on the products, the customers, the specific terms of national supply contracts and the particular arrangements with the Company’s wholesaler customers, rebates, chargebacks and other credits are recorded as deductions to the Company’s trade accounts receivable. Unless otherwise noted, the provisions and allowances for the following customer deductions are reflected in the accompanying consolidated financial statements as reductions of revenues and trade accounts receivable, respectively.
Chargebacks and Rebates	Chargebacks: The Company enters into contractual agreements with certain third parties such as retailers, hospitals, group-purchasing organizations (“GPOs”) and managed care organizations to sell certain products at predetermined prices. Similarly, we maintain an allowance for rebates and discounts related to billbacks, wholesaler fee for service contracts, GPO administrative fees, government programs, prompt payment and other adjustments with certain customers. Most of the parties have elected to have these contracts administered through wholesalers that buy the product from the Company and subsequently sell it to these third parties. As noted elsewhere, these wholesalers represent a significant percentage of the Company’s gross sales. When a wholesaler sells products to one of these third parties that are subject to a contractual price agreement, the difference between the price paid to the Company by the wholesaler and the price under the specific contract is charged back to the Company by the wholesaler. This process typically takes four to six weeks, but for some products may extend out to twelve weeks. The Company tracks sales and submitted chargebacks by product number and contract for each wholesaler. Utilizing this information, the Company estimates a chargeback percentage for each product and records an allowance as a reduction to gross sales when the Company records its sale of the products. The Company reduces the chargeback allowance when a chargeback request from a wholesaler is processed. Actual chargebacks processed by the Company can vary materially from period to period based upon actual sales volume through the wholesalers. However, the Company’s provision for chargebacks is fully reserved for at the time when sales revenues are recognized. Management obtains product inventory reports from certain wholesalers to aid in analyzing the reasonableness of the chargeback allowance and to monitor whether wholesaler inventory levels do not significantly exceed customer demand. The Company assesses the reasonableness of its chargeback allowance by applying a product chargeback percentage that is based on a combination of historical activity and future price and mix expectations to the quantities of inventory on hand at the wholesalers according to wholesaler inventory reports. In addition, the Company estimates the percentage of gross sales that were generated through direct and indirect sales channels and the percentage of contract vs. non-contract revenue in the period, as these each affect the estimated reserve calculation. In accordance with its accounting policy, the Company estimates the percentage amount of wholesaler inventory that will ultimately be sold to third parties that are subject to contractual price agreements based on a trend of such sales through wholesalers. The Company uses this percentage estimate until historical trends indicate that a revision should be made. On an ongoing basis, the Company evaluates its actual chargeback rate experience, and new trends are factored into its estimates each quarter as market conditions change. For the year ended December 31, 2016 , the Company incurred a chargeback provision of $1,218.6 million , or 42.1% of gross sales of $2,891.3 million , compared to $1,065.2 million , or 42.4% of gross sales of $2,511.7 million in the prior year. We note that the dollar increase and percent decrease in the comparative period was the result of gross sales increases and product mix shifts to products with lower chargeback expense percentages. The Company ensures that this rate as a percent of gross sales is reasonable through inspection of contractual obligations, review of historical trends and evaluation of recent activity. Furthermore, other events that could materially alter chargeback rates include: changes in product pricing as a result of competitive market dynamics or negotiations with customers, changes in demand for specific products due to external factors such as competitor supply position or consumer preferences, customer shifts in buying patterns from direct to indirect through wholesalers, which could either individually or in aggregate increase or decrease the chargeback rate depending on the direction and velocity of the change(s). To better understand the impact of changes in chargeback reserve based on circumstances that are not fully outside of the Company’s control, for instance, the ratio of sales subject to chargeback to indirect sales, the Company performs a sensitivity analysis. Holding all other assumptions constant, for a 380 basis point (“BP”) change in the ratio of sales subject to chargeback to indirect sales would increase the chargeback reserve by $1.4 million or decrease the chargeback reserve by $3.1 million depending on the change in the direction of the ratio. Fundamentally, the BP change calculation is determined based on the 6-month trend of the average ratio of sales subject to chargeback to indirect sales. Due to the competitive generic pharmaceutical industry and our recent experience with wholesalers’ strategy and shifts in contracted and non-contracted indirect sales, we believe that the 6-month trend of the proportion of direct to indirect sales provides a representative basis for sensitivity analysis. However, the average change in the ratio of sales subject to chargeback to indirect sales in the last 6 months is immaterial. Accordingly, the BP change calculation for December 31, 2016 is based on the difference between the lowest and highest ratio of sales subject to chargeback to indirect sales during the last 6 months. As of and for the year ended December 31, 2016, the Company determined that in order to more closely align with internal analysis of associated reserves it would adjust the allowances disclosure to separately report rebates from chargebacks and rebates for both net trade accounts receivable and gross sale adjustments and to consolidate administrative fees and others with rebates for purposes of reporting of gross to net revenue reserves. All prior period information, including as of and for the years ended December 31, 2015 and 2014 have been recasted to reflect this disclosure change. Rebates, administrative fees and others: The Company maintains an allowance for rebates, administrative fees and others related to contracts and other rebate programs that it has in place with certain customers. Rebate, administrative fees and other percentages vary by product and by volume purchased by each eligible customer. The Company tracks sales by product number for each eligible customer and then applies the applicable rebate, administrative fees and other percentage, using both historical trends and actual experience to estimate its rebate, administrative fees and other allowances. The Company reduces gross sales and increases the rebate, administrative fees and other allowance by the estimated rebate, administrative fees and other amounts when the Company sells its products to eligible customers. The Company reduces the rebate allowance when it processes a customer request for a rebate. At each balance sheet date, the Company analyzes the allowance for rebates, administrative fees and others against actual rebates processed and makes necessary adjustments as appropriate. The amount of actual rebates processed can vary materially from period to period as discussed below. The allowances for rebates, administrative fees and others further takes into consideration price adjustments which are credits issued to reflect increases or decreases in the invoice or contract prices of the Company’s products. In the case of a price decrease, a credit is given for product remaining in customer’s inventories at the time of the price reduction. Contractual price protection results in a similar credit when the invoice or contract prices of the Company’s products increase, effectively allowing customers to purchase products at previous prices for a specified period of time. Amounts recorded for estimated shelf-stock adjustments and price protections are based upon specified terms with direct customers, estimated changes in market prices, and estimates of inventory held by customers. The Company regularly monitors these and other factors and evaluates the reserve as additional information becomes available. Similar to rebates, the reserve for administrative fees and others represent those amounts processed related to contracts and other fee programs which have been in place with certain entities, but they are settled through cash payment to these entities and accordingly are accounted for as a current liability. Otherwise, administrative fees and others operate similarly to rebates. For the year ended December 31, 2016 the Company incurred a rebates, administrative fees and others provision of $463.7 million , or 16.0% of gross sales of $2,891.3 million , compared to $367.5 million , or 14.6% of gross sales of $2,511.7 million in the prior year. We note that the dollar and percent increase from the comparative period was the result of gross sales increases and product mix shifts to products with higher rebates, administrative fees and others expense percentages. The Company ensures that this rate as a percent of gross sales is reasonable through inspection of contractual obligations, review of historical trends and evaluation of recent activity. Furthermore, other events that could materially alter rebates, administrative fees and others rates include: changes in product pricing as a result of competitive market dynamics or negotiations with customers, changes in demand for specific products due to external factors such as competitor supply position or consumer preferences, customer shifts in buying patterns from direct to indirect through wholesalers, which could either individually or in aggregate increase or decrease the rebate rate depending on the direction and velocity of the change(s). To better understand the impact of changes in rebates, administrative fees and others reserves based on circumstances that are not fully outside of the Company’s control, for instance, the proportion of direct to indirect sales subject to rebates, administrative fees and others, the Company performs a sensitivity analysis. Holding all other assumptions constant, for a 380 BP change in the ratio of sales subject to rebates, administrative fees and others to indirect sales would increase the reserve for rebates, administrative fees and others by $0.2 million or decrease the same reserve by $0.6 million depending on the direction of the change in the ratio. Fundamentally, the BP change calculation is determined based on the 6-month trend of the average ratio of sales subject to rebates, administrative fees and others to indirect sales. Due to the competitive generic pharmaceutical industry and our recent experience with wholesalers’ strategy and shifts in contracted and non-contracted indirect sales, we believe the 6-month trend of the average ratio of sales subject to rebates, administrative fees and others to indirect sales provides a representative basis for sensitivity analysis. However, the average change in the ratio of sales subject to rebates, administrative fees and others to indirect sales in the last 6 months is immaterial. Accordingly, the 380 BP change calculation for December 31, 2016 is based on the difference between the lowest and highest ratio of sales subject to rebates, administrative fees and others to indirect sales during the last 6 months.
Sales Returns	Sales Returns: Certain of the Company’s products are sold with the customer having the right to return the product within specified periods. Provisions are made at the time of sale based upon historical experience. Historical factors such as one-time recall events as well as pending new developments like comparable product approvals or significant pricing movement that may impact the expected level of returns are taken into account to determine the appropriate reserve estimate at each balance sheet date. As part of the evaluation of the reserve required, the Company considers actual returns to date that are in process, the expected impact of any product recalls and the amount of wholesaler’s inventory to assess the magnitude of unconsumed product that may result in sales returns to the Company in the future. The sales returns level can be impacted by factors such as overall market demand and market competition and availability for substitute products which can increase or decrease the pull through for sales of the Company’s products and ultimately impact the level of sales returns. For the year ended December 31, 2016 the Company incurred a return provision of $28.3 million , or 1.0% of gross sales of $2,891.3 million , compared to $34.3 million , or 1.4% of gross sales of $2,511.7 million in the prior year. We note that the dollar and percent decrease from the comparative period was the result of gross sales increases partially offset by product mix shifts to products with lower return rates. The Company ensures that this rate as a percent of gross sales is reasonable through inspection of historical trends and evaluation of recent activity. Furthermore, other events that could materially alter return rates include: acquisitions and integration activities that consolidate dissimilar contract terms and could decrease the return rate as typically the Company purchases smaller entities with less contracting power and integrates those product sales to Akorn contracts; and consumer demand shifts by products, which could either increase or decrease the return rate depending on the product or products specifically demanded and ultimately returned. To better understand the impact of changes in return reserve based on certain circumstances, the Company performs a sensitivity analysis. Holding all other assumptions constant, for an average 1.24 months change in the lag from the time of sale to the time the product return is processed, this change would result in an increase of $3.7 million or a decrease of $2.7 million of the return reserve expense if the lag increases or decreases, respectively. The average 1.24 months change in the lag from the time of sale to the time the product return is processed was determined based on the average variances of the last 6-month historical activities. Due to the change in the volume and type of products sold by the Company in the recent past, we have determined that the lag calculation provides a reasonable basis for sensitivity analysis.
Allowance for Coupons, Promotions and Co-Pay discount cards	Allowance for Coupons, Promotions and Co-Pay discount cards: The Company issues coupons from time to time that are redeemable against certain of our Consumer Health products. Upon release of coupons into the market, the Company records an estimate of the dollar value of coupons expected to be redeemed. This estimate is based on historical experience and is adjusted as needed based on actual redemptions. In addition to couponing, from time to time the Company authorizes various retailers to run in-store promotional sales of its products. Upon receiving confirmation that a promotion was run, the Company accrues an estimate of the dollar amount expected to be owed back to the retailer. This estimate is then adjusted to actual upon receipt of an invoice from the retailer. Additionally, the Company provides consumer co-pay discount cards, administered through outside agents to provide discounted products when redeemed. Upon release of the cards into the market, the Company records an estimate of the dollar value of co-pay discounts expected to be utilized. This estimate is based on historical experience and is adjusted as needed based on actual usage.
Doubtful Accounts	Doubtful Accounts: Provisions for doubtful accounts, which reflect trade receivable balances owed to the Company that are believed to be uncollectible, are recorded as a component of SG&A expenses. In estimating the allowance for doubtful accounts, the Company considers its historical experience with collections and write-offs, the credit quality of its customers and any recent or anticipated changes thereto, and the outstanding balances and past due amounts from its customers. Note that in the ordinary course of business, and consistent with our peers, we may from time to time offer extended payment terms to our customers as an incentive for new product launches or in other circumstances in accordance with standard industry practices. These extended payment terms do not represent a significant risk to the collectability of accounts receivable as of the period-end and are evaluated in accordance with ASC 605 —Revenue Recognition as applicable. Accounts are considered past due when they remain uncollected beyond the due date specified in the applicable contract or on the applicable invoice, whichever is deemed to take precedence. As of December 31, 2016 , the Company had a total of $5.1 million of past due gross accounts receivable with no material amounts aged over 60 days. The Company performs monthly a detailed analysis of the receivables due from its customers and provides a specific reserve against known uncollectible items. The Company also includes in the allowance for doubtful accounts an amount that it estimates to be uncollectible for all other customers, based on a percentage of the past due receivables. The percentage reserved increases as the age of the receivables increases. Accounts are written off once all reasonable collection efforts have been exhausted and/or when facts or circumstances regarding the customer (i.e. bankruptcy filing) indicate that the chance of collection is remote.
Advertising and Promotional Allowances to Customers	Advertising and Promotional Allowances to Customers: The Company routinely sells its consumer health products to major retail drug chains. From time to time, the Company may arrange for these retailers to run in-store promotional sales of the Company’s products. The Company reserves an estimate of the dollar amount owed back to the retailer, recording this amount as a reduction to revenue at the later of the date on which the revenue is recognized or the date the sales incentive is offered. When the actual invoice for the sales promotion is received from the retailer, the Company adjusts its estimate accordingly. Advertising and promotional expenses paid to customers are expensed as incurred in accordance with ASC 605-50 - Customer Payments and Incentives .
Inventories	Inventories: Inventories are stated at the lower of cost (average cost method) or market (see Note 5 — “Inventories”). The Company maintains an allowance for slow-moving and obsolete inventory as well as inventory where the cost is in excess of its net realizable value (“NRV”). For finished goods inventory, the Company estimates the amount of inventory that may not be sold prior to its expiration or is slow-moving based upon recent sales activity by unit and wholesaler inventory information. The Company also analyzes its raw material and component inventory for slow-moving items and NRV. For the years ended December 31, 2016 , 2015 and 2014, the Company recorded a provision for inventory obsolescence and NRV of $32.1 million , $8.8 million , and $10.5 million , respectively. The allowances for inventory obsolescence were $33.5 million and $21.5 million as of December 31, 2016 and 2015, respectively. The Company capitalizes inventory costs associated with its products prior to regulatory approval when, based on management judgment, future commercialization is considered probable and future economic benefit is expected to be realized. The Company assesses the regulatory approval process and where the product stands in relation to that approval process including any known constraints or impediments to approval. The Company also considers the shelf life of the product in relation to the product timeline for approval. At December 31, 2016 , the Company established a reserve of $2.4 million related to R&D raw materials that are not expected to be utilized prior to expiration while at the prior year end, the Company had approximately $2.3 million in reserves for R&D raw materials. The entire balance of R&D raw materials has been reserved, as the Company deemed it unlikely that the products would receive FDA approval far enough in advance of expiration to be sellable.
Property, Plant and Equipment	Property, Plant and Equipment: Property, plant and equipment is stated at cost, less accumulated depreciation. Depreciation is provided using the straight-line method in amounts considered sufficient to amortize the cost of the assets to operations over their estimated useful lives or lease terms. Depreciation expense was $22.2 million , $19.9 million and $14.2 million for the years ended December 31, 2016 , 2015 and 2014, respectively.
Net Income Per Common Share	Net Income Per Common Share: Basic net income per common share is based upon weighted average common shares outstanding. Diluted net income per common share is based upon the weighted average number of common shares outstanding, including the dilutive effect, if any, of stock options and convertible securities using the treasury stock and if converted methods. Anti-dilutive shares excluded from the computation of diluted net income per share for 2016, 2015 and 2014 include 3.6 million , 0.9 million and 0.7 million shares, respectively, related to options.
Income Taxes	Income Taxes: Income taxes are accounted for under the asset and liability method. Deferred income tax assets and liabilities are determined based on differences between financial reporting and tax bases of assets and liabilities, and net operating loss and other tax credit carry-forwards. These items are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company records a valuation allowance to reduce the deferred income tax assets to the amount that is more likely than not to be realized.
Fair Value of Financial Instruments	Fair Value of Financial Instruments: The Company applies ASC 820 , which establishes a framework for measuring fair value and clarifies the definition of fair value within that framework. ASC 820 defines fair value as an exit price, which is the price that would be received for an asset or paid to transfer a liability in the Company’s principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy established in ASC 820 generally requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs reflect the assumptions that market participants would use in pricing the asset or liability and are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the entity’s own assumptions based on market data and the entity’s judgments about the assumptions that market participants would use in pricing the asset or liability, and are to be developed based on the best information available in the circumstances. Our financial instruments include cash and cash equivalents, accounts receivable, available for sale securities and accounts payable. The fair values of cash and cash equivalents, accounts receivable and accounts payable approximate book value because of the short maturity of these instruments. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: - Level 1 —Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. The carrying value of the Company's cash and cash equivalents and the portion of the value of the Nicox S.A. ("Nicox") shares which are available to be traded on the exchange are considered Level 1 assets. - Level 2 —Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as directly or indirectly observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. The Company has no Level 2 assets or liabilities in any of the periods presented. - Level 3 —Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities. The portion of the fair valuation of the available-for-sale investment held in shares of Nicox stock that is subject to a lock-up provision is considered a Level 3 asset. The additional consideration payable as a result of prior years' divestitures and other insignificant contingent amounts are considered Level 3 liabilities.
Discontinued Operations	Discontinued Operations: During the three months ended June 30, 2014 and subsequent to the Hi-Tech Pharmacal Co. Inc. (“Hi-Tech”) acquisition, the Company divested the ECR subsidiary. As a result of the sale the Company will have no continuing involvement or cash flows from the operations of this business. In accordance with FASB ASC 205 - Presentation of Financial Statements , and to allow for meaningful comparison of our continuing operations, the operating results of this business are reported as “discontinued operations.” All other operations are considered “continuing operations.” Unless noted otherwise, discussion in these notes to the financial statements pertain to our continuing operations.
Share-Based Compensation	Stock-Based Compensation: Stock-based compensation cost is estimated at grant date based on the fair value of the award, and the cost is recognized as expense ratably over the vesting period. The Company uses the Black-Scholes model for estimating the grant date fair value of stock options. Determining the assumptions to be used in the model is highly subjective and requires judgment. The Company uses an expected volatility that is based on the historical volatility of its common stock. The expected life assumption is based on historical employee exercise patterns and employee post-vesting termination behavior. The risk-free interest rate for the expected term of the option is based on the average market rate on U.S. Treasury securities of similar term in effect during the quarter in which the options were granted. The dividend yield reflects the Company’s historical experience as well as future expectations over the expected term of the option. The Company estimates
Recently Issued and Recently Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force), which addresses classification and presentation of changes in restricted cash on the statement of cash flows. The standard requires an entity’s reconciliation of the beginning-of-period and end-of-period total amounts shown on the statement of cash flows to include in cash and cash equivalents amounts generally described as restricted cash and restricted cash equivalents. The ASU does not define restricted cash or restricted cash equivalents, but an entity will need to disclose the nature of the restrictions. The ASU is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. For all other entities, the ASU is effective for fiscal years beginning after December 15, 2018, and interim periods in fiscal years beginning after December 15, 2019. Early adoption is permitted, including adoption in an interim period. If an entity early adopts the amendments in an interim period, adjustments should be reflected at the beginning of the fiscal year that includes that interim period. Entities should apply this ASU using a retrospective transition method to each period presented. The Company is currently evaluating the impact that ASU 2016-18 will have on its statement of financial position or financial statement disclosures. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) Classification of Certain Cash Receipts and Cash Payments. This standard amends and adjusts how cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years and will require adoption on a retrospective basis unless impracticable. If impracticable the Company would be required to apply the amendments prospectively as of the earliest date possible. The Company is currently evaluating the impact that ASU 2016-15 will have on its statement of financial position or financial statement disclosures. In February 2016, the FASB issued ASU 2016-02 - Leases which establishes a comprehensive new lease accounting model. The new standard clarifies the definition of a lease and causes lessees to recognize leases on the balance sheet as a lease liability with a corresponding right-of-use asset for leases with a lease term of more than one year. ASU 2016-02 is effective for financial statements issued for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The new standard requires a modified retrospective transition for capital or operating leases existing at or entered into after the beginning of the earliest comparative period presented in the financial statements, but it does not require transition accounting for leases that expire prior to the date of initial application. Upon adoption, the operating leases reporting in Note 9 - Leasing Arrangements, will be reported on the statement of financial position as gross-up assets and liabilities. The Company is currently evaluating the impact that ASU 2016-02 will have on its statement of financial position or financial statement disclosures. In July 2015, the FASB issued ASU 2015-11 - Inventory. ASU 2015-11 simplifies the measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. ASU 2015-11 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company has evaluated that ASU 2015-11 will have no material impact on its consolidated financial statements or financial statement disclosures upon adoption. Revenue Recognition Related ASUs: In December 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update ("ASU") 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. The amendments in this ASU affect narrow aspects of the guidance in ASU 2014-09, which is not yet effective. The amendments in this ASU address loan guarantee fees, impairment testing of contract costs, provisions for losses on construction-type and production-type contracts, and various disclosures. The effective date and transition requirements for the amendments are the same as the effective date and transition requirements for Topic 606 (and any other Topic amended by ASU 2014-09). ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of ASU 2014-09 by one year. In May 2016, the FASB issued ASU 2016-12 - Narrow-Scope Improvements and Practical Expedients. This standard amends the guidance in ASU 2014-09 to specifically provide a practical expedient for reflecting contract modifications at transition. The effective date for ASU 2016-12 is the same as the effective date for ASU 2014-09, ASU 2015-14, ASU 2016-08 and ASU 2016-10. In April 2016, the FASB issued ASU 2016-10 - Revenue from Contracts with Customers (Topic 606) — Identifying Performance Obligations and Licensing. This standard amends the guidance in ASU 2014-09 and ASU 2016-08 specifically related to identifying performance obligations and accounting for licenses of intellectual property. The effective date for ASU 2016-10 is the same as the effective date for ASU 2014-09, ASU 2015-14 and ASU 2016-08. In March 2016, the FASB issued ASU 2016-08 - Revenue from Contracts with Customers: Principal versus Agent Considerations. The amendments of this standard are intended to improve the operability and understandability of the implementation guidance on principal versus agent considerations. The effective date for ASU 2016-08 is the same as the effective date for ASU 2014-09 and ASU 2015-14. In August 2015, the FASB issued ASU No. 2015-14 - Revenue from Contracts with Customers (Topic 606) - Deferral of the Effective Date, which defers the effective date of ASU 2014-09 for one year and permits early adoption as early as the original effective date of ASU 2014-09. The new revenue standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of adoption. In May 2014, FASB issued ASU 2014-09 - Revenue from Contracts with Customers, which provides guidance for revenue recognition. ASU 2014-09 affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in ASC 605 - Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in ASC 605-35 - Revenue Recognition-Construction-Type and Production-Type Contracts. The standard’s core principle is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. The ASU defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The Company may adopt the new standard under the full retrospective approach or the modified retrospective approach, as permitted under the standard. Early adoption of the standard is not permitted. This ASU and related updates are effective for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. We have completed an initial review of the contracts for our three largest customers to determine the impact that ASU 2014-09 and its subsequent updates through December 31, 2016 will have on the Company's consolidated financial statements or financial statement disclosures upon adoption. Based on our preliminary review, we believe that the timing and measurement of revenue for these customers will be similar to our current revenue recognition. However, this view is preliminary and could change based on the detailed analysis associated with the conversion and implementation phases of our ASU 2014-09 project. We will complete our assessment during 2017, and will include other significant wholesale and retail customers as part of the review. Recently Adopted Accounting Pronouncements In August 2014, the FASB issued ASU 2014-15 - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, to provide guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and to provide related footnote disclosures. ASU 2014-15 is effective for financial statements issued for fiscal years ending after December 15, 2016, and interim periods thereafter. ASU 2014-15 - Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern was adopted by the Company for the year ending December 31, 2016. In connection with the preparation of the financial statements for the year ended December 31, 2016 , the Company conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity's ability to continue as a going concern within one year after the date of the issuance, or the date of availability, of the financial statements to be issued, noting that there did not appear to be evidence of substantial doubt of the entity's ability to continue as a going concern. In March 2016, the FASB issued ASU 2016-09 - Compensation - Stock Compensation, which simplifies the accounting for the tax effects related to stock based compensation, including adjustments to how excess tax benefits and a company's payments for tax withholdings should be classified, amongst other items. ASU 2016-09 is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years with early adoption permitted. ASU 2016-09 was early adopted by the Company for the year beginning January 1, 2016 and resulted in various effects, most notably a reduction in income tax expense of $11.4 million due to stock option exercises in the year ended December 31, 2016. In November 2015, the FASB issued ASU 2015-17 - Balance Sheet Classification of Deferred Taxes to simplify the presentation of deferred income taxes. ASU 2015-17 - Balance Sheet Classification of Deferred Taxes requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. ASU 2015-17 - Balance Sheet Classification of Deferred Taxes is effective for financial statements issued for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. ASU 2015-17 - Balance Sheet Classification of Deferred Taxes was early adopted by the Company for the year beginning January 1, 2016 resulting in the reclassification of the current portion of deferred tax assets to non-current deferred tax assets for the years ended December 31, 2016 and 2015. In September 2015, the FASB issued ASU 2015-16 - Business Combinations. ASU 2015-16 - Business Combinations simplifies the accounting for measurement-period adjustments by requiring adjustments to provisional amounts in a business combination to be recognized in the reporting period in which the adjustment amounts are determined and eliminates the requirement to retrospectively account for those adjustments. ASU 2015-16 - Business Combinations requires an entity to present separately on the face of the income statement or disclose in the notes the amount recorded in current-period earnings that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. ASU 2015-16 - Business Combinations was adopted by the Company for the year beginning January 1, 2016 and did not have a material impact on the Company's condensed consolidated financial statements or financial statement disclosures. In April 2015, the FASB issued ASU 2015-03 - Interest - Imputation of Interest, which simplifies the presentation of debt issuance costs by requiring that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of debt liability, consistent with debt discounts or premiums. ASU 2015-03 is effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. ASU 2015-03 was adopted by the Company for the year beginning January 1, 2016 resulting in the reclassification of the deferred financing fees to the respective face value of debt outstanding for the years ended December 31, 2016 and 2015. In April 2014, the FASB issued ASU No. 2014-08 - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity , which changes the criteria for reporting discontinued operations while enhancing disclosures in this area. Pursuant to ASU 2014-08 , only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, which were not expected to have continuing cash flows should be presented as a discontinued operation. If the disposal does qualify as a discontinued operation under ASU 2014-08 , the entity will be required to provide expanded disclosures. ASU 2014-08 was adopted by the Company for the year beginning January 1, 2015 and did not have a material impact on the Company’s consolidated financial statements. In July 2013, the FASB issued ASU 2013-11 - Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists. ASU 2013-11 was issued to eliminate the diversity in practice in presentation of unrecognized tax benefits, and amends ASC 740 - Income Taxes, to provide clarification of the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. According to the new guidance, unrecognized tax benefits will be netted against all available same-jurisdiction loss or other tax carryforward that would be utilized, rather than only being netted against carryforwards that are created by the unrecognized tax benefits. The revised guidance was adopted by the Company for the year beginning January 1, 2014 and did not have a material impact on the Company’s consolidated financial statements.

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Average Estimated Useful Lives of Property Plant and Equipment	The following table sets forth the average estimated useful lives at acquisition of the Company’s property, plant and equipment, by asset category: Asset category Depreciable Life (years) Buildings 30 - 50 Leasehold improvements 20 - 30 Furniture and equipment 7 - 20 Automobiles 5 - 7 Computer hardware and software 3 - 5
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table summarizes the basis used to measure the fair values of the Company’s financial instruments (amounts in thousands): Fair Value Measurements at Reporting Date, Using: Description December 31, 2016 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 200,772 $ 200,772 $ — $ — Available-for-sale securities 1,106 1,074 — 32 Total assets $ 201,878 $ 201,846 $ — $ 32 Purchase consideration payable $ 4,994 $ — $ — $ 4,994 Total liabilities $ 4,994 $ — $ — $ 4,994 Description December 31, 2015 Quoted Prices in Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Cash and cash equivalents $ 346,266 $ 346,266 $ — $ — Available-for-sale securities 5,941 4,843 — 1,098 Total assets $ 352,207 $ 351,109 $ — $ 1,098 Purchase consideration payable $ 4,967 $ — $ — $ 4,967 Total liabilities $ 4,967 $ — $ — $ 4,967

Accounts Receivable, Sales an31

Accounts Receivable, Sales and Allowances (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Trade accounts receivable, net consists of the following (in thousands): December 31, 2016 2015 Gross accounts receivable $ 519,175 $ 466,570 Less reserves for: Chargebacks (80,360 ) (91,844 ) Rebates (1) (97,935 ) (162,596 ) Product returns (43,689 ) (48,333 ) Discounts and allowances (12,389 ) (10,079 ) Advertising and promotions (688 ) (1,518 ) Doubtful accounts (960 ) (1,579 ) Trade accounts receivable, net $ 283,154 $ 150,621 (1) - The primary reason for the significant decrease in the reserve for rebates for the twelve months period ended December 31, 2016 compared to the balance at December 31, 2015 is due to an abnormal delay in processing the 2015 rebates driven in part by the 2014 Financial Restatement efforts. In 2016, the rebates reserve balance declined each subsequent quarter-end reporting period as the Company progressively returned to normal processing timing of rebate claims. The rebates processed during full year 2016 are disclosed under the caption “charges processed,” in the table below.
Schedule of Principal Transactions Revenue	For the years ended December 31, 2016 , 2015 and 2014 , the Company recorded the following adjustments to gross sales (in thousands): Year ended December 31, 2016 2015 2014 Gross sales $ 2,891,267 $ 2,511,693 $ 1,433,603 Less adjustments for: Chargebacks (1,218,560 ) (1,065,244 ) (643,004 ) Rebates, administrative fees and others (463,724 ) (367,514 ) (177,518 ) Product returns (28,285 ) (34,272 ) (20,993 ) Discounts and allowances (55,494 ) (50,384 ) (30,782 ) Advertising, promotions, and others (8,361 ) (9,203 ) (6,258 ) Revenues, net $ 1,116,843 $ 985,076 $ 555,048
Activity in Allowance for Customer Deductions Accounts	The annual activity in the Company’s allowance for customer deductions accounts for the three years ended December 31, 2016 is as follows (in thousands): Returns Chargebacks Rebates (1) Discounts Doubtful Accounts Advert. & Promotions Total Balance at December 31, 2013 8,164 8,635 4,247 1,644 25 452 23,167 Provision 20,993 643,004 132,960 30,782 247 6,258 834,244 Additions from acquisitions 35,542 38,500 — 5,160 51 311 79,564 Charges processed (20,053 ) (587,701 ) (41,533 ) (22,032 ) (14 ) (6,262 ) (677,595 ) Balance at December 31, 2014 $ 44,646 $ 102,438 $ 95,674 $ 15,554 $ 309 $ 759 $ 259,380 Provision 34,272 1,065,244 295,787 50,384 840 9,203 1,455,730 Additions from acquisitions — — — — 291 — 291 Charges processed (30,585 ) (1,075,838 ) (228,865 ) (55,859 ) 139 (8,444 ) (1,399,452 ) Balance at December 31, 2015 $ 48,333 $ 91,844 $ 162,596 $ 10,079 $ 1,579 $ 1,518 $ 315,949 Provision 28,285 1,218,560 384,074 55,494 — 8,361 1,694,774 Charges processed (32,929 ) (1,230,044 ) (448,735 ) (53,184 ) (619 ) (9,191 ) (1,774,702 ) Balance at December 31, 2016 $ 43,689 $ 80,360 $ 97,935 $ 12,389 $ 960 $ 688 $ 236,021 (1) - As provisions for rebates, administrative fees and others represent both contra-receivables and current liabilities, depending on the method of settlement, the cumulative provision relating to rebates, administrative fees and others is bifurcated as applicable based on the associated consolidated balance sheet classification. Accordingly, for the years ended December 31, 2016, 2015 and 2014, an additional $79.7 million , $71.7 million and $44.6 million , respectively, of provision was associated with administrative fees and others.

Inventories, Net (Tables)

Inventories, Net (Tables)	12 Months Ended
	Dec. 31, 2016
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories, net of allowances, are as follows (in thousands): December 31, 2016 2015 Finished goods $ 73,027 76,512 Work in process 14,719 8,905 Raw materials and supplies 87,047 99,899 $ 174,793 $ 185,316
Summary Of Allowance For Excess And Obsolete Inventory	The activity in the allowance for excess, obsolete, and net realizable value inventory account for the two years ended December 31, 2016 and 2015, was as follows (in thousands): Years Ended December 31, 2016 2015 Balance at beginning of year $ 21,537 $ 21,368 Provision 32,072 8,827 Additions from acquisitions — 2,064 Charges processed (20,077 ) (10,722 ) Balance at end of year $ 33,532 $ 21,537

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Changes in goodwill during the two years ended December 31, 2016 were as follows (in thousands): Goodwill December 31, 2014 $ 285,283 Acquisitions and other adjustments — Impairments — Dispositions — Foreign currency translation (573 ) December 31, 2015 $ 284,710 Acquisitions and other adjustments $ — Impairments — Dispositions $ — Foreign currency translation (417 ) December 31, 2016 $ 284,293
Schedule of Finite-Lived Intangible Assets	The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period as of December 31, 2016 for those assets that are not already fully amortized (dollar amounts in thousands): Gross Carrying Amount Accumulated Amortization Reclassifications Impairment (1) Net Carrying Amount Weighted Average Product licensing rights $ 790,143 $ (182,901 ) $ 9,400 $ (52,637 ) $ 564,005 10.5 IPR&D 187,007 — (9,400 ) (3,850 ) 173,757 N/A - Indefinite lived Trademarks 16,000 (4,244 ) — — 11,756 18.0 Customer relationships 6,290 (3,863 ) — — 2,427 9.3 Other intangibles 11,235 (4,326 ) — — 6,909 6.0 $ 1,010,675 $ (195,334 ) $ — (56,487 ) 758,854 (1) Impairment of product licensing rights is stated at gross carrying cost of $52.6 million less accumulated amortization of $12.1 million as of the impairment date. Accordingly, the net impairment expense recognized in product licensing rights was $40.5 million as of and for the year ended December 31, 2016 .
Schedule Of Changes of Finite Lived Intangible Assets	Changes in intangible assets during the two years ended December 31, 2016 and 2015, were as follows (in thousands): Product licensing rights IPR&D Trademarks Customer relationships Other intangibles Non-compete agreements December 31, 2014 $ 704,791 $ 227,259 $ 14,279 $ 3,035 $ 10,356 $ 683 Acquisitions 3,535 300 — — — — Amortization (62,323 ) — (1,261 ) (381 ) (1,721 ) (586 ) Impairments (30,376 ) (2,627 ) — — — — Foreign currency translation — — — 123 — (97 ) Reclassifications 38,000 (38,000 ) — — — — December 31, 2015 $ 653,627 $ 186,932 $ 13,018 $ 2,777 $ 8,635 $ — Acquisitions 3,872 75 — — — — Amortization (62,375 ) — (1,262 ) (350 ) (1,726 ) — Impairments (40,519 ) (3,850 ) — — — — Dispositions — — — — — — Foreign currency translation — — — — — — Reclassifications 9,400 (9,400 ) — — — — December 31, 2016 $ 564,005 $ 173,757 $ 11,756 $ 2,427 $ 6,909 $ —
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The amortization expense of acquired intangible assets for each of the following five years are expected to be as follows (in thousands): Year ending December 31, Amortization Expense 2017 $ 62,206 2018 61,984 2019 59,157 2020 51,376 2021 51,376

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment consist of the following (in thousands): December 31, 2016 2015 Land $ 17,410 $ 17,409 Buildings and leasehold improvements 88,825 85,767 Furniture and equipment 160,546 142,885 266,781 246,061 Accumulated depreciation (108,425 ) (87,086 ) 158,356 158,975 Construction in progress 80,048 20,639 $ 238,404 $ 179,614

Financing Arrangements (Tables)

Financing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Variable Interest Rates	As of the date of the filing of this Form 10-K until the maturity of the Term Loans, our spread will be based upon the Ratings Level applicable on such date as documented below. As of the period ended December 31, 2016 , the Company was a Ratings Level I for the Existing Term Loan Facility. Ratings Level Index Ratings (Moody’s/S&P) Eurodollar Spread ABR Spread Level I B1/B+ or higher 4.25% 3.25% Level II B2/B 4.75% 3.75% Level III B3/B- or lower 5.50% 4.50%
Schedule of Guarantor Obligations	Unless cash dominion is exercised by the lenders in connection with the JPM Revolving Facility, the Company will be required to repay the JPM Revolving Facility upon its expiration five years from issuance, subject to permitted extension, and will pay interest on the outstanding balance monthly based, at the Company’s election, on an adjusted prime/federal funds rate (“ABR”) or an adjusted LIBOR (“Eurodollar”), plus a margin determined in accordance with the Company’s consolidated fixed charge coverage ratio (EBITDA to fixed charges) as follows: Fixed Charge Coverage Ratio Revolver ABR Spread Revolver Eurodollar Spread Category 1 > 1.50 to 1.0 0.50% 1.50% Category 2 > 1.25 to 1.00 but 0.75% 1.75% Category 3 < 1.25 to 1.00 1.00% 2.00%
Carrying Amount of Liability Component and Remaining Unamortized Debt Discount	At December 31, 2015, the net carrying amount of the liability component and the remaining unamortized debt discount are shown in the following table (in thousands). Due to the complete conversion of the Notes in 2016, there are no balances in these accounts at December 31, 2016: December 31, 2016 2015 Carrying amount of equity component $ — $ 7,372 Carrying amount of the liability component — 42,465 Unamortized discount of the liability component — 750 Unamortized debt financing costs — 136
Expenses in Relation to Convertible Notes	As a result of the complete conversion on June 1, 2016, during the years ended December 31, 2016 , 2015 and 2014, the Company recorded the following expenses in relation to the Notes (in thousands): 2016 2015 2014 Interest expense at 3.50% coupon rate (1) $ 687 $ 2,205 $ 4,105 Debt discount amortization 750 2,421 4,317 Deferred financing cost amortization 136 438 780 Loss on conversion — 1,235 990 $ 1,573 $ 6,299 $ 10,192 (1) As a result of the restatement of the 2014 financial data and the resultant delays in filings of the 2015 financial statements, the Company was required to remit an additional 0.5% interest penalty to all holders of the convertible notes from January 1, 2016 to April 5, 2016 and a lump sum payment equal to 0.25% of the principal balance held by consenting holders of the convertible notes as of April 6, 2016.
Schedule of Maturities of Long-term Debt	Aggregate cumulative maturities of long-term obligations (including the incremental and existing term loans and the JPM revolver) as of December 31, 2016 are: (In thousands) 2017 2018 2019 2020 Thereafter Maturities $ — $ — $ — $ — $ 831,938

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	A reconciliation of the earnings per share data from a basic to a fully diluted basis is detailed below (amounts in thousands, except per share data): 2016 2015 2014 Income from continuing operations used for basic earnings per share $ 184,243 $ 150,798 $ 14,388 Convertible debt income adjustments, net of tax 1,049 3,222 — Income from continuing operations adjusted for convertible debt as used for diluted earnings per share $ 185,292 $ 154,020 $ 14,388 Income from continuing operations per share: Basic $ 1.50 $ 1.29 $ 0.14 Diluted (1) $ 1.47 $ 1.22 $ 0.13 Loss from discontinued operations, net of tax $ — $ — $ (504 ) Loss from discontinued operations, net of tax per share: Basic $ — $ — $ (0.01 ) Shares used in computing income (loss) per share: Weighted average basic shares outstanding 122,869 116,980 103,480 Dilutive securities: Stock options and unvested RSUs 914 1,667 4,234 Stock warrants — — 1,874 Shares issuable on conversion of the Notes (2) 2,018 7,115 — Total dilutive securities 2,932 8,782 6,108 Weighted average diluted shares outstanding 125,801 125,762 109,588 (1) Due to a change in the expectation that management may settle all future note conversions solely through shares in the year and quarter ended December 31, 2014, the diluted income from continuing operations per share calculation includes the dilutive effect of convertible debt and is offset by the exclusion of interest expense and deferred financing fees related to the convertible debt of $1.0 million , after-tax and $3.2 million , after-tax for the years ended December 31, 2016 and 2015, respectively. (2) In the year ended December 31, 2014, the computation of diluted net earnings per share does not include the effect of convertible debt under the if-converted method, consisting of 13.5 million shares and $5.8 million of additional income, as the effect would have been antidilutive.

Leasing Arrangements (Tables)

Leasing Arrangements (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The following is a schedule, by year, of future minimum rental payments required under non-cancelable operating leases in place as of December 31, 2016 (in thousands): Year ending December 31, 2017 $ 3,760 2018 2,755 2019 2,640 2020 2,596 2021 2,399 2022 and thereafter 9,528 Total $ 23,678

Stock Options, Employee Stock38

Stock Options, Employee Stock Purchase Plan and Restricted Stock (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	From time to time the Company grants stock option awards to certain employees and directors. The assumptions used in estimating the fair value of the stock options granted during the period, along with the weighted-average grant date fair values, were as follows: 2016 2015 2014 Expected volatility 46% — 50% 42% — 47% 40% — 71% Expected life (in years) 4.7 4.8 4.1 Risk-free interest rate 0.9% — 1.8% 1.5% — 1.6% 0.9% — 2.2% Dividend yield — — — Fair value per stock option $11.13 $14.59 $12.89
Schedule of Share-based Compensation, Activity	A summary of stock option activity within the Company’s stock-based compensation plans for the years ended December 31, 2016 , 2015 and 2014 is as follows: Number of Shares (in thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (Years) Aggregate Intrinsic Value (in thousands) (1) Outstanding at December 31, 2013 9,228 $ 4.45 Granted 1,475 28.59 Exercised (4,226 ) 1.91 Forfeited or expired (91 ) 22.56 Outstanding at December 31, 2014 6,386 $ 11.44 Granted 1,016 37.60 Exercised (2,519 ) 4.09 Forfeited or expired (121 ) 34.78 Outstanding at December 31, 2015 4,762 $ 20.33 Granted 2,089 26.61 Exercised (1,794 ) 7.78 Forfeited or expired (292 ) 28.96 Outstanding at December 31, 2016 4,766 $ 27.27 5.03 $ 5,714 Exercisable at December 31, 2016 1,495 $ 23.51 3.10 $ 5,272 (1) Includes only those options that were in-the-money as of December 31, 2016. Fluctuations in the intrinsic value of both outstanding and exercisable options may result from changes in underlying stock price and the timing and volume of option grants, exercises and forfeitures.
Schedule of Nonvested Restricted Stock Units Activity	The following is a summary of non-vested restricted stock activity: Number of Shares (in thousands) Weighted Average Per Share Grant Date Fair Value Nonvested at December 31, 2013 16 $ 15.36 Granted 337 35.31 Vested (16 ) 15.36 Canceled — — Nonvested at December 31, 2014 337 $ 35.31 Granted — — Vested (84 ) 35.31 Canceled — — Nonvested at December 31, 2015 253 $ 35.31 Granted 302 29.50 Vested (118 ) 34.95 Canceled (21 ) 28.85 Nonvested at December 31, 2016 416 $ 31.52

Income Taxes from Continuing 39

Income Taxes from Continuing Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The income tax provision (benefit) from continuing operations consisted of the following (in thousands): Current Deferred Total Year ended December 31, 2016 Federal $ 107,818 $ (26,377 ) $ 81,441 State 11,247 (4,325 ) 6,922 Foreign (1,306 ) (1,306 ) $ 119,065 $ (32,008 ) $ 87,057 Year ended December 31, 2015 Federal $ 116,375 $ (41,477 ) $ 74,898 State 11,113 (2,620 ) 8,493 Foreign — (2,033 ) (2,033 ) $ 127,488 $ (46,130 ) $ 81,358 Year ended December 31, 2014 Federal $ 26,114 $ (14,222 ) $ 11,892 State 2,347 (2,090 ) 257 Foreign 4 (1,199 ) (1,195 ) $ 28,465 $ (17,511 ) $ 10,954
Schedule of Effective Income Tax Rate Reconciliation	ncome tax provision differs from the “expected” tax expense computed by applying the U.S. Federal corporate income tax rates of 35% to income from continuing operations before income taxes, as follows (in thousands): Years Ended December 31, 2016 2015 2014 Computed “expected” tax provision $ 94,955 $ 81,255 $ 8,870 Change in income taxes resulting from: State income taxes, net of Federal income tax 4,501 5,520 167 Foreign income tax provision (benefit) 1,580 (1,130 ) 482 Deduction for domestic production activities (7,280 ) (6,882 ) (1,323 ) Stock compensation (11,395 ) — — R&D tax credits (825 ) (677 ) (508 ) Nondeductible acquisition fees 39 165 2,823 Other expense (benefit), net 2,564 682 (673 ) Valuation allowance change 2,918 2,425 1,116 Income tax provision $ 87,057 $ 81,358 $ 10,954
Schedule of Income before Income Tax, Domestic and Foreign	The geographic allocation of the Company’s income from continuing operations before income taxes between U.S. and foreign operations was as follows (in thousands): 2016 2015 2014 Pre-tax income from continuing U.S. operations $ 287,880 $ 241,665 $ 33,320 Pre-tax loss from continuing foreign operations (16,580 ) (9,509 ) (7,978 ) Total pre-tax income from continuing operations $ 271,300 $ 232,156 $ 25,342
Schedule of Deferred Tax Assets and Liabilities	Net deferred income taxes at December 31, 2016 and 2015 include (in thousands): December 31, 2016 December 31, 2015 Current Noncurrent Current Noncurrent Deferred tax assets: Net operating loss carry-forward $ 554 $ 25,103 $ 982 $ 22,356 Stock-based compensation — 8,922 — 9,032 Chargeback reserves — — 83 — Reserve for product returns 16,208 — 17,932 — Inventory valuation reserve 11,503 — 7,819 — Long-term debt — 6,383 — 9,448 Other 16,957 1,851 19,085 1,236 Total deferred tax assets $ 45,222 $ 42,259 $ 45,901 $ 42,072 Valuation allowance — (9,856 ) — (8,807 ) Net deferred tax assets $ 45,222 $ 32,403 $ 45,901 $ 33,265 Deferred tax liabilities: Prepaid expenses $ (3,091 ) $ — $ (2,877 ) $ — Inventory step-up — — — — Unamortized discount – convertible notes — — — (267 ) Depreciation & amortization – tax over book — (226,855 ) — (260,622 ) Other — — — (1 ) Total deferred tax liabilities $ (3,091 ) $ (226,855 ) $ (2,877 ) $ (260,890 ) Net deferred income tax asset (liability) $ 42,131 $ (194,452 ) $ 43,024 $ (227,625 )
Schedule of Unrecognized Tax Benefits Roll Forward	Based on its review as of December 31, 2016 , the Company determined that it would not recognize tax benefits as follows (in thousands): Balance at December 31, 2013 $ 845 Additions relating to 2014 709 Additions relating to acquired entities 456 Balance at December 31, 2014 $ 2,010 Additions relating to 2015 356 Payments of amounts relating to prior years (81 ) Balance at December 31, 2015 $ 2,285 Additions relating to 2016 303 Terminations of exposures relating to prior years (1,287 ) Balance at December 31, 2016 $ 1,301

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Selected financial information by reporting segment is presented below (in thousands): Years ended December 31, 2016 2015 2014 REVENUES, NET: Prescription Pharmaceuticals $ 1,053,579 $ 924,472 $ 504,688 Consumer Health 63,264 60,604 50,360 Total revenues, net $ 1,116,843 $ 985,076 $ 555,048 GROSS PROFIT: Prescription Pharmaceuticals $ 645,078 $ 566,298 $ 233,833 Consumer Health 29,193 29,714 27,527 Total gross profit $ 674,271 $ 596,012 $ 261,360
Schedule of Goodwill	The carrying amounts of goodwill by segment were as follows (in thousands): Prescription Pharmaceuticals Consumer Health Total December 31, 2014 $ 268,566 $ 16,717 $ 285,283 Acquisitions and other adjustments — — — Impairments — — — Dispositions — — — Foreign currency translations (573 ) — (573 ) December 31, 2015 $ 267,993 $ 16,717 $ 284,710 Acquisitions and other adjustments — — — Impairments — — — Dispositions — — — Foreign currency translations (417 ) — (417 ) December 31, 2016 $ 267,576 $ 16,717 $ 284,293

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitment Payment to Strategic Business Partners	The table below summarizes contingent, potential milestone payments due to strategic partners in the years 2017 and beyond, assuming all such contingencies occur (in thousands): Year ending December 31, Milestone Payments 2017 $ 9,462 2018 3,788 2019 250 2020 — Total $ 13,500

Supplemental Cash Flow Inform42

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information (in thousands) Year ended December 31, 2016 2015 2014 Amount paid for interest $ 44,063 $ 54,763 $ 31,413 Amount paid for income taxes, net 132,695 34,404 6,294 Non-cash conversion of convertible notes to common shares 43,215 44,310 32,475 Capital expenditures 12,391 5,074 1,737

Business Combinations and Oth43

Business Combinations and Other Strategic Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table sets forth the consideration paid for the Akorn AG acquisition and the fair values of the acquired assets and assumed liabilities (in millions of USD) as of the acquisition date adjusted in accordance with GAAP. The figures below may differ from historical financial results of Akorn AG. Consideration: Amount of cash paid $ 25.9 Outstanding amount payable to Fareva 2.5 Total consideration at closing $ 28.4 Recognized amounts of identifiable assets acquired: Cash and cash equivalents $ 1.2 Accounts receivable 3.4 Inventory 4.2 Other current assets 0.9 Property and equipment 26.6 Total assets acquired 36.3 Assumed current liabilities (1.7) Assumed non-current liabilities (3.9) Deferred tax liabilities (1.4) Total liabilities assumed (7.0) Bargain purchase gain (0.9 ) Fair value of assets acquired $ 28.4

Customer, Supplier and Produc44

Customer, Supplier and Product Concentration (Tables)	12 Months Ended
	Dec. 31, 2016
Risks and Uncertainties [Abstract]
Schedules of Concentration of Risk, by Risk Factor	The following table sets forth the percentage of the Company’s gross and net sales and gross accounts receivable attributable to these three distributors for the periods indicated: 2016 2015 2014 Gross Sales Net Revenue Gross Accounts Receivable Gross Sales Net Revenue Gross Accounts Receivable Gross Sales Net Revenue Gross Accounts Receivable Amerisource 29.5% 23.3% 35.6% 28.0% 23.2% 28.8% 38.3% 29.2% 45.4% Cardinal 15.4% 16.3% 15.1% 19.7% 19.5% 26.1% 15.9% 13.6% 16.9% McKesson 32.5% 24.2% 33.2% 30.1% 27.3% 27.9% 22.7% 19.1% 22.7% Combined Total 77.4% 63.8% 83.9% 77.8% 70.0% 82.8% 76.9% 61.9% 85.0%

Selected Quarterly Financial 45

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Net Income (Loss) (In thousands, except per share amounts) Revenues Gross Profit Operating Income Amount Per Basic Share Per Diluted Share Year Ended December 31, 2016: 4th Quarter $ 283,667 $ 169,254 $ 60,796 $ 32,455 $ 0.26 $ 0.26 3rd Quarter 284,095 170,227 86,828 47,909 0.38 0.38 2nd Quarter 280,734 171,773 92,368 61,993 0.51 0.50 1st Quarter 268,347 163,017 87,579 41,886 0.35 0.34 Year Ended December 31, 2015: 4th Quarter $ 279,977 $ 174,430 $ 64,475 $ 32,785 $ 0.27 $ 0.27 3rd Quarter 256,801 163,012 90,767 47,967 0.40 0.39 2nd Quarter 220,920 128,407 66,102 32,508 0.28 0.27 1st Quarter 227,378 130,163 73,267 37,538 0.33 0.31

Summary of Significant Accoun46

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands, shares in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Oct. 24, 2014
Summary Of Significant Accounting Policies [Line Items]
Noncurrent restricted cash	$ 3,300	$ 4,300
Past due gross accounts receivable	5,100
Provision for Inventory obsolescence	32,072	8,827	$ 10,500
Allowance for inventory obsolescence	33,532	21,537	21,368
Research and development reserve	2,400	2,300
Depreciation	$ 22,200	$ 19,900	$ 14,200
Shares excluded from the computation of diluted net earnings per share (in shares)	3.6	0.9	0.7
Available-for-sale securities	$ 1,106	$ 5,941
Nicox [Member]
Summary Of Significant Accounting Policies [Line Items]
Unrealized gain from original cost basis	1,700
Original cost basis	1,500			$ 10,800
Available-for-sale securities sold	6,000	2,600	$ 600
Unrealized loss recognized on available-for-sale securities	(400)
Nicox [Member] | Initial Value [Member]
Summary Of Significant Accounting Policies [Line Items]
Available-for-sale securities	12,500
Recurring [Member]
Summary Of Significant Accounting Policies [Line Items]
Available-for-sale securities	1,100
Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Summary Of Significant Accounting Policies [Line Items]
Available-for-sale securities	$ 32	$ 1,098

Summary of Significant Accoun47

Summary of Significant Accounting Policies (Details) - Chargebacks, Rebates, Administrative Fees and Other, and Sales Returns - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Chargebacks	$ 1,218,560	$ 1,065,244	$ 643,004
Sales chargebacks as a percentage of gross sales	42.10%	42.40%
Gross sales	$ 2,891,267	$ 2,511,693	1,433,603
Change in ratio of direct to indirect sales for chargeback reserves used in sensitivity analysis	3.80%
Potential increase in chargeback expense based on sensitivity analysis	$ 1,400
Potential decrease in chargeback expense based on sensitivity analysis	3,100
Rebates, administrative fees and others	463,724	367,514	177,518
Product returns	$ 28,285	$ 34,272	$ 20,993
Rebates, administrative and other fees as a percentage of gross sales	16.00%	14.60%
Change in ratio of direct to indirect sales for rebates, administrative and other fees used in sensitivity analysis	3.80%
Potential increase in rebates, administrative and other fees expense based on sensitivity analysis	$ 200
Potential decrease in rebates, administrative and other fees expense based on sensitivity analysis	$ 600
Sales returns as a percentage of gross sales	1.00%	1.40%
Change in lag time to process returns for sales returns reserve used in sensitivity analysis	1 year 2 months 27 days
Potential increase in sales returns expense based on sensitivity analysis	$ 3,700
Potential decrease in sales returns expense based on sensitivity analysis	$ 2,700

Summary of Significant Accoun48

Summary of Significant Accounting Policies (Details) - Average Estimated Useful Lives of Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2016
Buildings [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	30 years
Buildings [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	50 years
Leasehold improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	20 years
Leasehold improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	30 years
Furniture and equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	7 years
Furniture and equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	20 years
Automobiles [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	5 years
Automobiles [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	7 years
Computer hardware and software [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	3 years
Computer hardware and software [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Depreciable life	5 years

Summary of Significant Accoun49

Summary of Significant Accounting Policies (Details) - Fair Values of the Companys Financial Instruments - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 200,772	$ 346,266
Available-for-sale securities	1,106	5,941
Total assets	201,878	352,207
Purchase consideration payable	4,994	4,967
Total liabilities	4,994	4,967
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,100
Fair Value, Inputs, Level 1 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	200,772	346,266
Available-for-sale securities	1,074	4,843
Total assets	201,846	351,109
Purchase consideration payable	0	0
Total liabilities	0	0
Fair Value, Inputs, Level 2 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Available-for-sale securities	0	0
Total assets	0	0
Purchase consideration payable	0	0
Total liabilities	0	0
Fair Value, Inputs, Level 3 [Member] | Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Available-for-sale securities	32	1,098
Total assets	32	1,098
Purchase consideration payable	4,994	4,967
Total liabilities	$ 4,994	$ 4,967

Accounts Receivable, Sales an50

Accounts Receivable, Sales and Allowances (Details) - Net Trade Accounts Receivable - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Gross accounts receivable	$ 519,175	$ 466,570
Less reserves for:
Chargebacks	(80,360)	(91,844)
Rebates	(97,935)	(162,596)
Product returns	(43,689)	(48,333)
Discounts and allowances	(12,389)	(10,079)
Advertising and promotions	(688)	(1,518)
Doubtful accounts	(960)	(1,579)
Trade accounts receivable, net	$ 283,154	$ 150,621

Accounts Receivable, Sales an51

Accounts Receivable, Sales and Allowances (Details) - Summary of Adjustments to Gross Sales - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Receivables [Abstract]
Gross sales	$ 2,891,267	$ 2,511,693	$ 1,433,603
Less adjustments for:
Chargebacks	(1,218,560)	(1,065,244)	(643,004)
Rebates, administrative fees and others	463,724	367,514	177,518
Product returns	28,285	34,272	20,993
Discounts and allowances	55,494	50,384	30,782
Advertising, promotions, and others	(8,361)	(9,203)	(6,258)
Revenues, net	$ 1,116,843	$ 985,076	$ 555,048

Accounts Receivable, Sales an52

Accounts Receivable, Sales and Allowances (Details) - Allowance for Customer Deductions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Changes in Allowance for Customer Deductions Accounts
Balance	$ 315,949	$ 259,380	$ 23,167
Provision	1,694,774	1,455,730	834,244
Additions from acquisitions		291	79,564
Charges processed	(1,774,702)	(1,399,452)	(677,595)
Balance	236,021	315,949	259,380
Administrative fees and others	197,501	162,205	92,955
Returns
Changes in Allowance for Customer Deductions Accounts
Balance	48,333	44,646	8,164
Provision	28,285	34,272	20,993
Additions from acquisitions		0	35,542
Charges processed	(32,929)	(30,585)	(20,053)
Balance	43,689	48,333	44,646
Chargebacks
Changes in Allowance for Customer Deductions Accounts
Balance	91,844	102,438	8,635
Provision	1,218,560	1,065,244	643,004
Additions from acquisitions		0	38,500
Charges processed	(1,230,044)	(1,075,838)	(587,701)
Balance	80,360	91,844	102,438
Rebates
Changes in Allowance for Customer Deductions Accounts
Balance	162,596	95,674	4,247
Provision	384,074	295,787	132,960
Additions from acquisitions		0	0
Charges processed	(448,735)	(228,865)	(41,533)
Balance	97,935	162,596	95,674
Administrative fees and others	79,700	71,700	44,600
Discounts
Changes in Allowance for Customer Deductions Accounts
Balance	10,079	15,554	1,644
Provision	55,494	50,384	30,782
Additions from acquisitions		0	5,160
Charges processed	(53,184)	(55,859)	(22,032)
Balance	12,389	10,079	15,554
Doubtful Accounts
Changes in Allowance for Customer Deductions Accounts
Balance	1,579	309	25
Provision	0	840	247
Additions from acquisitions		291	51
Charges processed	(619)	139	(14)
Balance	960	1,579	309
Advert. & Promotions
Changes in Allowance for Customer Deductions Accounts
Balance	1,518	759	452
Provision	8,361	9,203	6,258
Additions from acquisitions		0	311
Charges processed	(9,191)	(8,444)	(6,262)
Balance	$ 688	$ 1,518	$ 759

Inventories, Net (Details) - In

Inventories, Net (Details) - Inventories - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 73,027	$ 76,512
Work in process	14,719	8,905
Raw materials and supplies	87,047	99,899
Inventory, Net	$ 174,793	$ 185,316

Inventories, Net (Details) - Al

Inventories, Net (Details) - Allowance for Excess and Obsolete Inventory - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Inventory Valuation And Obsolescence [Roll Forward]
Balance at beginning of year	$ 21,537	$ 21,368
Provision	32,072	8,827	$ 10,500
Additions from acquisitions	0	2,064
Charges	(20,077)	(10,722)
Balance at end of year	$ 33,532	$ 21,537	$ 21,368

Goodwill and Other Intangible55

Goodwill and Other Intangible Assets (Details) - Useful Life and Amortization	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)project	Dec. 31, 2014USD ($)
Accumulated amortization	$ (195,334,000)	$ (144,100,000)
Amortization expense	65,713,000	66,272,000	$ 43,493,000
Impairment of intangible assets	40,519,000	30,376,000	$ 0
Goodwill impairment charges	0	0
IPR&D
Impairment expense	3,850,000
Impairment of IPR&D projects	$ 3,850,000	$ 2,627,000
VersaPharm [Member]
Number of IPR&D projects abandoned (in project) | project		2
VersaPharm [Member] | R&D expenses
Impairment of IPR&D projects		$ 2,600,000
Minimum [Member]
Useful life	1 year
Maximum [Member]
Useful life	30 years

Goodwill and Other Intangible56

Goodwill and Other Intangible Assets (Details) - Changes in Goodwill - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Changes in Goodwill
Balance	$ 284,710,000	$ 285,283,000
Acquisitions	0	0
Impairments	0	0
Dispositions	0	0
Foreign currency translation	(417,000)	(573,000)
Balance	$ 284,293,000	$ 284,710,000

Goodwill and Other Intangible57

Goodwill and Other Intangible Assets (Details) - Major Categories of Intangible Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Oct. 01, 2015
Major categories of finite-lived intangible assets
Accumulated Amortization	$ (195,334)	$ (144,100)
Impairment of intangible assets	40,519	30,376	$ 0
Gross Carrying Amount	1,010,675
Impairment	(56,487)
Intangible assets, net	758,854	864,989
IPR&D
Major categories of indefinite-lived intangible assets
Gross Carrying Amount	187,007
Reclassifications	(9,400)
Impairment	(3,850)
Net Carrying Amount	173,757
Major categories of finite-lived intangible assets
Intangible assets, net	173,757	186,932	227,259
Product licensing rights
Major categories of finite-lived intangible assets
Gross Carrying Amount	790,143
Accumulated Amortization	(182,901)			$ (12,100)
Reclassifications	9,400
Impairment	(52,637)
Net Carrying Amount	$ 564,005
Weighted Average Remaining Amortization Period (years)	10 years 6 months
Impairment of intangible assets	$ 40,519	30,376
Intangible assets, net	564,005	653,627	704,791
Trademarks
Major categories of finite-lived intangible assets
Gross Carrying Amount	16,000
Accumulated Amortization	(4,244)
Reclassifications	0
Impairment	0
Net Carrying Amount	$ 11,756
Weighted Average Remaining Amortization Period (years)	18 years
Impairment of intangible assets	$ 0	0
Intangible assets, net	11,756	13,018	14,279
Customer relationships
Major categories of finite-lived intangible assets
Gross Carrying Amount	6,290
Accumulated Amortization	(3,863)
Reclassifications	0
Impairment	0
Net Carrying Amount	$ 2,427
Weighted Average Remaining Amortization Period (years)	9 years 3 months 18 days
Impairment of intangible assets	$ 0	0
Intangible assets, net	2,427	2,777	3,035
Other intangibles
Major categories of finite-lived intangible assets
Gross Carrying Amount	11,235
Accumulated Amortization	(4,326)
Reclassifications	0
Impairment	0
Net Carrying Amount	$ 6,909
Weighted Average Remaining Amortization Period (years)	6 years
Impairment of intangible assets	$ 0	0
Intangible assets, net	$ 6,909	$ 8,635	$ 10,356

Goodwill and Other Intangible58

Goodwill and Other Intangible Assets (Details) - Changes in intangible assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance at beginning of period	$ 864,989
Amortization	(65,713)	$ (66,272)	$ (43,493)
Impairment - finite lived intangible assets	(40,519)	(30,376)	0
Balance at end of period	758,854	864,989
IPR&D
Balance at beginning of period	186,932	227,259
Indefinite lived acquisitions	75	300
Impairment - indefinite lived intangible assets	(3,850)	(2,627)
Dispositions	0
Foreign currency translation	0	0
Reclassifications	(9,400)	(38,000)
Balance at end of period	173,757	186,932	227,259
Product licensing rights
Balance at beginning of period	653,627	704,791
Finite lived acquisitions	3,872	3,535
Amortization	(62,375)	(62,323)
Impairment - finite lived intangible assets	(40,519)	(30,376)
Dispositions	0
Foreign currency translation	0	0
Reclassifications	9,400	38,000
Balance at end of period	564,005	653,627	704,791
Trademarks
Balance at beginning of period	13,018	14,279
Finite lived acquisitions	0	0
Amortization	(1,262)	(1,261)
Impairment - finite lived intangible assets	0	0
Dispositions	0
Foreign currency translation	0	0
Reclassifications	0	0
Balance at end of period	11,756	13,018	14,279
Customer relationships
Balance at beginning of period	2,777	3,035
Finite lived acquisitions	0	0
Amortization	(350)	(381)
Impairment - finite lived intangible assets	0	0
Dispositions	0
Foreign currency translation	0	123
Reclassifications	0	0
Balance at end of period	2,427	2,777	3,035
Other intangibles
Balance at beginning of period	8,635	10,356
Finite lived acquisitions	0	0
Amortization	(1,726)	(1,721)
Impairment - finite lived intangible assets	0	0
Dispositions	0
Foreign currency translation	0	0
Reclassifications	0	0
Balance at end of period	6,909	8,635	10,356
Non-compete agreements
Balance at beginning of period	0	683
Finite lived acquisitions	0	0
Amortization	0	(586)
Impairment - finite lived intangible assets	0	0
Dispositions	0
Foreign currency translation	0	(97)
Reclassifications	0	0
Balance at end of period	$ 0	$ 0	$ 683

Goodwill and Other Intangible59

Goodwill and Other Intangible Assets (Details) - Amortization Expense of Acquired Intangible Assets $ in Thousands	Dec. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,017	$ 62,206
2,018	61,984
2,019	59,157
2,020	51,376
2,021	$ 51,376

Property, Plant and Equipment60

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 266,781	$ 246,061
Accumulated depreciation	(108,425)	(87,086)
Property, plant and equipment, net	238,404	179,614
Depreciation	22,200	19,900	$ 14,200
Outside the United States [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	65,100	52,600
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	17,410	17,409
Buildings and leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	88,825	85,767
Furniture and equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	160,546	142,885
Property, plant and equipment in service, net [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	158,356	158,975
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 80,048	$ 20,639

Financing Arrangements (Details

Financing Arrangements (Details)	Jun. 01, 2016USD ($)	Feb. 16, 2016USD ($)	Apr. 17, 2014USD ($)	Jun. 01, 2011	Apr. 17, 2014USD ($)	Jun. 30, 2011USD ($)	Mar. 31, 2012day$ / shares	Dec. 31, 2016USD ($)letter_of_credit$ / shares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Aug. 12, 2014USD ($)
Debt Instrument [Line Items]
Additional financing costs paid								$ 5,100,000
Amortization of deferred financing costs								10,791,000	$ 4,283,000	$ 9,985,000
Non-cash conversion of convertible notes to common shares								43,215,000	44,310,000	32,475,000
Convertible Debt [Member]
Debt Instrument [Line Items]
Unamortized debt financing costs								0	136,000
Amortization of deferred financing costs								136,000	438,000	780,000
Interest expense								$ 1,573,000	6,299,000	10,192,000
Stated interest rate								3.50%
Loss on conversion								$ 0	1,235,000	990,000
Notes [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Convertible notes payable						$ 120,000,000
Stated interest rate						3.50%
Proceeds from convertible debt after deducting underwriting fees and other related expenses						$ 115,300,000
Conversion ratio				0.1142
Initial conversion price (in dollars per share) | $ / shares								$ 8.76
Stock price trigger for conversion (in dollars per share) | $ / shares							$ 11.39
Convertible threshold trading days (in day) | day							20
Convertible threshold consecutive trading days							30 days
Original amount of debt converted	$ 43,200,000								44,300,000	32,500,000
Notes [Member] | Senior Notes [Member] | Over-Allotment Option [Member]
Debt Instrument [Line Items]
Convertible notes payable						$ 20,000,000
JP Morgan [Member] | Term Loan Facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis spread on variable rate								5.00%
JP Morgan [Member] | Term Loan Facility [Member] | ABR Spread [Member]
Debt Instrument [Line Items]
Basis spread on variable rate								4.00%
JP Morgan [Member] | JPM Revolving Facility [Member]
Debt Instrument [Line Items]
Potential increase in basis spread on variable rate in event of default			2.00%		2.00%
Potential maximum borrowing capacity			$ 200,000,000		$ 200,000,000
Covenant, minimum liquidity			$ 120,000,000		$ 120,000,000
Covenant, minimum liquidity, additional percentage of commitments			25.00%		25.00%
Covenant, minimum EBITDA to fixed charges ratio			1		1
Rolling quarterly measurement duration					12 months
JP Morgan [Member] | Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument term			7 years
Voluntary prepayment of debt		$ 200,000,000
Amount outstanding under credit facility								$ 831,900,000
JP Morgan [Member] | Term Loan Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 600,000,000		$ 600,000,000
Potential increase to maximum borrowing capacity			$ 150,000,000		$ 150,000,000
Quarterly principal repayment as a percent of initial loan amount			0.25%		0.25%
Potential reduction in basis spread on variable rate			0.25%		0.25%
Potential increase in basis spread on variable rate in event of default			2.00%		2.00%
Unamortized debt financing costs								21,500,000	26,800,000
Amortization of deferred financing costs								10,400,000	3,800,000	8,800,000
Interest expense								43,500,000	$ 47,300,000	$ 27,200,000
JP Morgan [Member] | Term Loan Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Potential reduction in basis spread on variable rate, EBITDA ratio threshold			2.25		2.25
JP Morgan [Member] | Term Loan Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					2.50%
JP Morgan [Member] | Term Loan Facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis spread on variable rate					3.50%
Minimum interest rate on facility					4.50%
JP Morgan [Member] | Incremental Term Loan Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity											$ 445,000,000
JP Morgan [Member] | Revolving Credit Facility [Member] | JPM Revolving Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 150,000,000		$ 150,000,000
Debt instrument term			5 years
Borrowing base, percent of eligible accounts receivable			85.00%		85.00%
Borrowing base, percent of materials and WIP on FIFO			65.00%		65.00%
Borrowing base, percent of liquidation value			85.00%		85.00%
Borrowing base, percent of finished goods			75.00%		75.00%
Borrowing base, percent of liquidation of finished goods			85.00%		85.00%
Borrowing base, percent of eligible inventory liquidation value			85.00%		85.00%
Borrowing base, percent of market value finished goods			75.00%		75.00%
Commitment fees, minimum availability under credit facility			12.50%		12.50%
Commitment fee, threshold, amount of commitments			$ 15,000,000		$ 15,000,000
Commitment fee, threshold, number of consecutive days					30 days
Unused line fee					0.25%
JP Morgan [Member] | Letter of Credit [Member] | JPM Revolving Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 10,000,000		$ 10,000,000
JP Morgan [Member] | JPM Revolving Facility [Member]
Debt Instrument [Line Items]
Remaining borrowing capacity								$ 147,800,000
JP Morgan [Member] | JPM Revolving Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Letters of credit outstanding (in letter of credit) | letter_of_credit								1
Letters of credit outstanding								$ 2,200,000

Financing Arrangements (Detai62

Financing Arrangements (Details) - Variable Interest Rates - JP Morgan [Member] - Term Loan Facility [Member]	12 Months Ended
	Dec. 31, 2016
Eurodollar [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	5.00%
Eurodollar [Member] | Moody's, B1 Rating [Member] | S&P's, B Plus Rating or Higher [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.25%
Eurodollar [Member] | Moody's, B2 Rating [Member] | S&P's, B Rating [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.75%
Eurodollar [Member] | Moody's, B3 Rating [Member] | S&P's, B Minus Rating or Lower [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	5.50%
ABR Spread [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
ABR Spread [Member] | Moody's, B1 Rating [Member] | S&P's, B Plus Rating or Higher [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.25%
ABR Spread [Member] | Moody's, B2 Rating [Member] | S&P's, B Rating [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	3.75%
ABR Spread [Member] | Moody's, B3 Rating [Member] | S&P's, B Minus Rating or Lower [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.50%

Financing Arrangements (Detai63

Financing Arrangements (Details) - JPM Revolving Facility, Interest Terms	12 Months Ended
	Dec. 31, 2016
Category 1 [Member] | Base Rate [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.5
Category 1 [Member] | Eurodollar [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.5
Category 1 [Member] | JPM Revolving Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Guarantor Obligations [Line Items]
Basis spread on variable rate	0.50%
Category 1 [Member] | JPM Revolving Facility [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]
Guarantor Obligations [Line Items]
Basis spread on variable rate	1.50%
Category 2 [Member] | Base Rate [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.25
Category 2 [Member] | Base Rate [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.5
Category 2 [Member] | Eurodollar [Member] | Minimum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.25
Category 2 [Member] | Eurodollar [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.5
Category 2 [Member] | JPM Revolving Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Guarantor Obligations [Line Items]
Basis spread on variable rate	0.75%
Category 2 [Member] | JPM Revolving Facility [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]
Guarantor Obligations [Line Items]
Basis spread on variable rate	1.75%
Category 3 [Member] | Base Rate [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.25
Category 3 [Member] | Eurodollar [Member] | Maximum [Member]
Guarantor Obligations [Line Items]
Fixed charge coverage ratio	1.25
Category 3 [Member] | JPM Revolving Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Guarantor Obligations [Line Items]
Basis spread on variable rate	1.00%
Category 3 [Member] | JPM Revolving Facility [Member] | Revolving Credit Facility [Member] | Eurodollar [Member]
Guarantor Obligations [Line Items]
Basis spread on variable rate	2.00%

Financing Arrangements (Detai64

Financing Arrangements (Details) - Net Carrying Amount of the Liability Component and the Remaining Unamortized Debt Discount - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Carrying amount of the liability component	$ 809,979	$ 994,033
Convertible Debt [Member]
Debt Instrument [Line Items]
Carrying amount of equity component	0	7,372
Carrying amount of the liability component	0	42,465
Unamortized discount of the liability component	0	750
Unamortized debt financing costs	$ 0	$ 136

Financing Arrangements (Detai65

Financing Arrangements (Details) - Expenses in Relation to Convertible Notes - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Deferred financing cost amortization	$ 10,791	$ 4,283	$ 9,985
Convertible Debt [Member]
Debt Instrument [Line Items]
Interest expense at 3.50% coupon rate	687	2,205	4,105
Debt discount amortization	750	2,421	4,317
Deferred financing cost amortization	136	438	780
Loss on conversion	0	1,235	990
Interest expense	$ 1,573	$ 6,299	$ 10,192
Coupon Rate	3.50%
Debt Instrument, Redemption, Period One [Member] | Convertible Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Penalty Percentage	0.50%
Debt Instrument, Redemption, Period Two [Member] | Convertible Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Penalty Percentage	0.25%

Financing Arrangements (Detai66

Financing Arrangements (Details) - Maturities of Long-term Obligations $ in Thousands	Dec. 31, 2016USD ($)
Debt Disclosure [Abstract]
2,017	$ 0
2,018	0
2,019	0
2,020	0
Thereafter	$ 831,938

Earnings per Common Share (Deta

Earnings per Common Share (Details) - Reconciliation of Earnings Per Share Data - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Income from continuing operations used for basic earnings per share (in Dollars)	$ 184,243	$ 150,798	$ 14,388
Exclusion of interest and deferred financing fees from diluted income (in dollars)	1,000	3,200
Convertible debt income adjustments, net of tax (in Dollars)		3,222	0
Income from continuing operations adjusted for convertible debt as used for diluted earnings per share (in Dollars)	$ 185,292	$ 154,020	$ 14,388
Income from continuing operations per share:
Basic (in Dollars per share)	$ 1.50	$ 1.29	$ 0.14
Diluted (in Dollars per share)	$ 1.47	$ 1.22	$ 0.13
Loss from discontinued operations, net of tax (in Dollars)	$ 0	$ 0	$ (504)
Loss from discontinued operations, net of tax per share:
Basic (in Dollars per share)	$ 0	$ 0	$ (0.01)
Shares used in computing income (loss) per share:
Weighted average basic shares outstanding	122,869	116,980	103,480
Dilutive securities:
Stock options and unvested RSAs	914	1,667	4,234
Stock warrants	0	0	1,874
Shares issuable on conversion of the Notes (2)	2,018	7,115	0
Total dilutive securities	2,932	8,782	6,108
Weighted average diluted shares outstanding	125,801	125,762	109,588

Earnings per Common Share (De68

Earnings per Common Share (Details) - Narrative - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Exclusion of interest and deferred financing fees from diluted income (in dollars)	$ 1	$ 3.2
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted net earnings per share (in shares)	3.6	0.9	0.7
Convertible Debt Securities [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted net earnings per share (in shares)			13.5
Shares excluded from the computation of diluted net earnings per share (in dollars)			$ 5.8

Leasing Arrangements (Details)

Leasing Arrangements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Leases [Abstract]
Rental expense	$ 5.2	$ 3.1	$ 3.3

Leasing Arrangements (Details)

Leasing Arrangements (Details) - Future Minimum Lease Payments $ in Thousands	Dec. 31, 2016USD ($)
Future Minimum Rental Payments Under Non-cancelable Operating and Insignificant Capital Leases
2,017	$ 3,760
2,018	2,755
2,019	2,640
2,020	2,596
2,021	2,399
2022 and thereafter	9,528
Total	$ 23,678

Stock Options, Employee Stock71

Stock Options, Employee Stock Purchase Plan and Restricted Stock (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2011	May 02, 2014	Aug. 07, 2009	May 27, 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 15,400,000	$ 13,100,000	$ 7,800,000
Total intrinsic value of stock options exercised	40,300,000	97,400,000	141,700,000
Additional paid-in-capital recorded	14,000,000	10,200,000	8,100,000
Total unrecognized compensation cost	$ 28,100,000
Recognition period for unrecognized compensation cost	2 years 9 months 18 days
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 10,200,000
Recognition period for unrecognized compensation cost	2 years 9 months 18 days
2003 Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)						11,000,000
Vesting period	3 years
Amended 2003 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)				19,000,000			5,000,000
Number of shares granted (in shares)	15,800,000
Number of shares exercised (in shares)	10,800,000
Number of shares canceled (in shares)	4,400,000
Number of remaining shares outstanding (in shares)	700,000
Number of additional shares authorized (in shares)				8,000,000
Expiration period	5 years
Vesting period	4 years
2014 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)					7,500,000
Number of shares granted (in shares)	4,600,000
Number of shares exercised (in shares)	74,399
Number of shares canceled (in shares)	400,000
Number of remaining shares outstanding (in shares)	4,100,000
2014 Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	5 years
2014 Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period	10 years
ESPP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	2,000,000
Share-based compensation expense	$ (300,000)	$ 600,000	$ 400,000
Discount from market price at the beginning or end of the offering period	15.00%
Maximum annual purchases per employee under ESPP	$ 25,000
Maximum annual withholdings per employee for purchases under ESPP	$ 21,250
Maximum number of shares available for purchase per employee (in shares)	15,000
Shares issued under plan (in shares)	1,400,000
Shares issued during period (in shares)	0	0	67,000
ESPP [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of base wages withheld for purchase of stock	1.00%
ESPP [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of base wages withheld for purchase of stock	15.00%

Stock Options, Employee Stock72

Stock Options, Employee Stock Purchase Plan and Restricted Stock (Details) - Weighted-average Assumptions for Stock Options - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assumptions used in estimating fair value of stock options
Expected life (in years)	4 years 8 months 23 days	4 years 9 months 18 days	4 years 1 month 6 days
Dividend yield	0.00%	0.00%	0.00%
Fair value per stock option (in Dollars per share)	$ 11.13	$ 14.59	$ 12.89
Minimum [Member]
Assumptions used in estimating fair value of stock options
Expected volatility	46.00%	42.00%	40.00%
Risk-free interest rate	0.90%	1.50%	0.90%
Maximum [Member]
Assumptions used in estimating fair value of stock options
Expected volatility	50.00%	47.00%	71.00%
Risk-free interest rate	1.80%	1.60%	2.20%

Stock Options, Employee Stock73

Stock Options, Employee Stock Purchase Plan and Restricted Stock (Details) - Stock Option Activity - Stock Option Plan 2014 And 2003 [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Shares
Beginning balance, outstanding (in shares)	4,762	6,386	9,228
Granted (in shares)	2,089	1,016	1,475
Exercised (in shares)	(1,794)	(2,519)	(4,226)
Forfeited or expired (in shares)	(292)	(121)	(91)
Ending balance, outstanding (in shares)	4,766	4,762	6,386
Number of Shares, Exercisable (in shares)	1,495
Weighted Average Exercise Price
Beginning balance, outstanding (in dollars per share)	$ 20.33	$ 11.44	$ 4.45
Granted (in dollars per share)	26.61	37.60	28.59
Exercised (in dollars per share)	7.78	4.09	1.91
Forfeited or expired (in dollars per share)	28.96	34.78	22.56
Ending balance, outstanding (in dollars per share)	27.27	$ 20.33	$ 11.44
Weighted Average Exercise Price, Exercisable (in dollars per share)	$ 23.51
Weighted Average Remaining Contractual Term (Years)	5 years 11 days
Weighted Average Remaining Contractual Term, Exercisable (Years)	3 years 1 month 6 days
Aggregate Intrinsic Value	$ 5,714
Aggregate Intrinsic Value, Exercisable	$ 5,272

Stock Options, Employee Stock74

Stock Options, Employee Stock Purchase Plan and Restricted Stock (Details) - Non-vested Restricted Stock Activity - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Weighted Average Per Share Grant Date Fair Value
Canceled (in dollars per share)		$ 0
Restricted Stock [Member]
Number of Shares
Beginning balance, non-vested (in shares)	253	337	16
Granted (in shares)	302	0	337
Vested (in shares)	(118)	(84)	(16)
Canceled (in shares)	(21)	0	0
Ending balance, non-vested (in shares)	416	253	337
Weighted Average Per Share Grant Date Fair Value
Beginning balance, non-vested (in dollars per share)	$ 35.31	$ 35.31	$ 15.36
Granted (in dollars per share)	29.50	0	35.31
Vested (in dollars per share)	34.95	35.31	15.36
Canceled (in dollars per share)	28.85		0
Ending balance, non-vested (in dollars per share)	$ 31.52	$ 35.31	$ 35.31

Income Taxes from Continuing 75

Income Taxes from Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Line Items]
Federal corporate income tax rates	35.00%
Valuation allowance	$ 9.9	$ 8.8	$ 1.1
Unrecognized tax benefits that would impact the effective tax rate	1.1
Unrealized reduction in goodwill if realized	0.2
Federal [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry-forwards	6.5
Illinois [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry-forwards	0.2
Foreign [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry-forwards	14.7
Foreign [Member] | Switzerland [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry-forwards	4.3
Indefinite Lived NOL [Member] | Foreign [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry-forwards	9.1
NOL Expiring Beginning In 2022 [Member] | Foreign [Member]
Income Tax Disclosure [Line Items]
Net operating loss carry-forwards	$ 5.6

Income Taxes from Continuing 76

Income Taxes from Continuing Operations (Details) - Income Tax Provision - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current
Federal	$ 107,818	$ 116,375	$ 26,114
State	11,247	11,113	2,347
Foreign		0	4
Total	119,065	127,488	28,465
Deferred
Federal	(26,377)	(41,477)	(14,222)
State	(4,325)	(2,620)	(2,090)
Foreign	(1,306)	(2,033)	(1,199)
Total	(32,008)	(46,130)	(17,511)
Total
Federal	81,441	74,898	11,892
State	6,922	8,493	257
Foreign	(1,306)	(2,033)	(1,195)
Total income tax expense	$ 87,057	$ 81,358	$ 10,954

Income Taxes from Continuing 77

Income Taxes from Continuing Operations (Details) - Income Tax Rate Reconciliation - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Computed “expected” tax provision	$ 94,955	$ 81,255	$ 8,870
Change in income taxes resulting from:
State income taxes, net of Federal income tax	4,501	5,520	167
Foreign income tax provision (benefit)	1,580	(1,130)	482
Deduction for domestic production activities	(7,280)	(6,882)	(1,323)
Stock compensation	(11,395)	0	0
R&D tax credits	(825)	(677)	(508)
Nondeductible acquisition fees	39	165	2,823
Other expense (benefit), net	2,564	682	(673)
Valuation allowance change	2,918	2,425	1,116
Total income tax expense	$ 87,057	$ 81,358	$ 10,954

Income Taxes from Continuing 78

Income Taxes from Continuing Operations (Details) - The Geographical Allocation of the Companys Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Pre-tax income from continuing U.S. operations	$ 287,880	$ 241,665	$ 33,320
Pre-tax loss from continuing foreign operations	(16,580)	(9,509)	(7,978)
Total pre-tax income from continuing operations	$ 271,300	$ 232,156	$ 25,342

Income Taxes from Continuing 79

Income Taxes from Continuing Operations (Details) - Net Deferred Income Taxes - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Valuation allowance	$ (9,900)	$ (8,800)	$ (1,100)
Deferred Taxes Current [Member]
Deferred tax assets:
Net operating loss carry-forward	554	982
Stock-based compensation	0	0
Chargeback reserves	0	83
Reserve for product returns	16,208	17,932
Inventory valuation reserve	11,503	7,819
Long-term debt	0	0
Other	16,957	19,085
Total deferred tax assets	45,222	45,901
Valuation allowance	0	0
Net deferred tax assets	45,222	45,901
Deferred tax liabilities:
Prepaid expenses	(3,091)	(2,877)
Inventory step-up	0	0
Unamortized discount – convertible notes	0	0
Depreciation & amortization – tax over book	0	0
Other	0	0
Total deferred tax liabilities	(3,091)	(2,877)
Net deferred income tax asset	42,131	43,024
Deferred Taxes Noncurrent [Member]
Deferred tax assets:
Net operating loss carry-forward	25,103	22,356
Stock-based compensation	8,922	9,032
Chargeback reserves	0	0
Reserve for product returns	0	0
Inventory valuation reserve	0	0
Long-term debt	6,383	9,448
Other	1,851	1,236
Total deferred tax assets	42,259	42,072
Valuation allowance	(9,856)	(8,807)
Net deferred tax assets	32,403	33,265
Deferred tax liabilities:
Prepaid expenses	0	0
Inventory step-up	0	0
Unamortized discount – convertible notes	0	(267)
Depreciation & amortization – tax over book	(226,855)	(260,622)
Other	0	(1)
Total deferred tax liabilities	(226,855)	(260,890)
Net deferred income tax liability	$ (194,452)	$ (227,625)

Income Taxes from Continuing 80

Income Taxes from Continuing Operations (Details) - Summary of Unrecognized Tax Benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits
Balance	$ 2,285	$ 2,010	$ 845
Additions relating to current year	303	356	709
Additions relating to acquired entities			456
Payments of amounts relating to prior years		(81)
Terminations of exposures relating to prior years	(1,287)
Balance	$ 1,301	$ 2,285	$ 2,010

Segment Information (Details)

Segment Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments (in segment) | segment	2
Outside the United States [Member]
Segment Reporting Information [Line Items]
Revenues | $	$ 26.3	$ 37	$ 16.6

Segment Information (Details) -

Segment Information (Details) - Financial Information by Segment - 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
REVENUES
Revenues	$ 283,667	$ 284,095	$ 280,734	$ 268,347	$ 279,977	$ 256,801	$ 220,920	$ 227,378	$ 1,116,843	$ 985,076	$ 555,048
GROSS PROFIT
Gross Profit	$ 169,254	$ 170,227	$ 171,773	$ 163,017	$ 174,430	$ 163,012	$ 128,407	$ 130,163	674,271	596,012	261,360
Prescription Pharmaceuticals [Member]
REVENUES
Revenues									1,053,579	924,472	504,688
GROSS PROFIT
Gross Profit									645,078	566,298	233,833
Consumer Health [Member]
REVENUES
Revenues									63,264	60,604	50,360
GROSS PROFIT
Gross Profit									$ 29,193	$ 29,714	$ 27,527

Segment Information (Details)83

Segment Information (Details) - Carrying Amount of Goodwill by Segment - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Changes in Goodwill
Balance	$ 284,710,000	$ 285,283,000
Acquisitions and other adjustments	0	0
Impairments	0	0
Dispositions	0	0
Foreign currency translations	(417,000)	(573,000)
Balance	284,293,000	284,710,000
Prescription Pharmaceuticals [Member]
Changes in Goodwill
Balance	267,993,000	268,566,000
Acquisitions and other adjustments	0	0
Impairments	0	0
Dispositions	0	0
Foreign currency translations	(417,000)	(573,000)
Balance	267,576,000	267,993,000
Consumer Health [Member]
Changes in Goodwill
Balance	16,717,000	16,717,000
Acquisitions and other adjustments	0	0
Impairments	0	0
Dispositions	0	0
Foreign currency translations	0	0
Balance	$ 16,717,000	$ 16,717,000

Commitments and Contingencies84

Commitments and Contingencies (Details) - Commitment Payment to Strategic Business Partners $ in Thousands	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,017	$ 9,462
2,018	3,788
2,019	250
2,020	0
Total	$ 13,500

Supplemental Cash Flow Inform85

Supplemental Cash Flow Information (Details) - Supplemental Cash Flow Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Amount paid for interest	$ 44,063	$ 54,763	$ 31,413
Amount paid for income taxes, net	132,695	34,404	6,294
Non-cash conversion of convertible notes to common shares	43,215	44,310	32,475
Capital expenditures	$ 12,391	$ 5,074	$ 1,737

Recently Issued and Adopted A86

Recently Issued and Adopted Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock compensation	$ (11,395)	$ 0	$ 0

Business Combinations and Oth87

Business Combinations and Other Strategic Investments (Details) $ in Thousands, shares in Millions, SFr in Millions	Jan. 02, 2015USD ($)	Jul. 22, 2014CHF (SFr)	Jun. 27, 2014USD ($)	Apr. 17, 2014USD ($)	Sep. 30, 2011USD ($)	Aug. 01, 2011USD ($)	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Oct. 22, 2014shares
Business Acquisition [Line Items]
Acquisition-related costs							$ 364	$ 1,841	$ 32,840
Gain from bargain purchase							0	849	$ 0
Ownership interests in strategic investments, less than (as a percent)			20.00%
Available-for-sale securities							1,106	5,941
Recurring [Member]
Business Acquisition [Line Items]
Available-for-sale securities							1,100
Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Available-for-sale securities							$ 32	$ 1,098
Nicox [Member]
Business Acquisition [Line Items]
Unrestricted shares sold (in shares) | shares							0.5	1.1	0.2
Proceeds from sale							$ 6,000	$ 2,600	$ 600
Loss realized on sale								200
Unrealized loss recognized on available-for-sale securities							400
Akorn AG, formerly Excelvision [Member]
Business Acquisition [Line Items]
Consideration paid	$ 28,400	SFr 21.7
Acquisition-related costs							100	200	$ 300
Gain from bargain purchase	$ 900
Net revenue of acquiree since acquisition							18,800	27,500
Series of Individually Immaterial Business Acquisitions [Member]
Business Acquisition [Line Items]
Product licensing rights acquired							$ 3,900	$ 3,800
Aciex Agreement [Member]
Business Acquisition [Line Items]
Consideration paid			$ 10,800
Payments to acquire additional interest in subsidiaries					$ 2,000	$ 8,000
Shares received on disposition of assets (in shares) | shares										4.3
Aciex Agreement [Member] | Convertible Debt [Member]
Business Acquisition [Line Items]
Payments for other strategic investments			$ 400	$ 400

Business Combinations and Oth88

Business Combinations and Other Strategic Investments (Details) - Consideration Paid for Acquisition and the Fair Value of the Acquired Assets and Assumed Liabilities $ in Thousands, SFr in Millions	Jan. 02, 2015USD ($)	Jul. 22, 2014CHF (SFr)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Bargain purchase gain			$ 0	$ (849)	$ 0
Akorn AG, formerly Excelvision [Member]
Business Acquisition [Line Items]
Amount of cash paid	$ 25,900
Outstanding amount payable to Fareva	2,500
Consideration paid	28,400	SFr 21.7
Cash and cash equivalents	1,200
Accounts receivable	3,400
Inventory	4,200
Other current assets	900
Property and equipment	26,600
Total assets acquired	36,300
Assumed current liabilities	(1,700)
Assumed non-current liabilities	(3,900)
Deferred tax liabilities	(1,400)
Total liabilities assumed	(7,000)
Bargain purchase gain	(900)
Fair value of assets acquired	$ 28,400

Customer, Supplier and Produc89

Customer, Supplier and Product Concentration (Details) - Narrative - customer	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Concentration Risk [Line Items]
Number of customers considered as concentration risks (in customer)	3	3	3
Sales Revenue, Net [Member] | Product Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk (as a percent)	20.00%

Customer, Supplier and Produc90

Customer, Supplier and Product Concentration (Details) - Percentage of the Company's Gross and Net Sales and Accounts Receivable - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gross Sales [Member]
Concentration Risk [Line Items]
Customer concentration	77.40%	77.80%	76.90%
Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Customer concentration	63.80%	70.00%	61.90%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Customer concentration	83.90%	82.80%	85.00%
Amerisource [Member] | Gross Sales [Member]
Concentration Risk [Line Items]
Customer concentration	29.50%	28.00%	38.30%
Amerisource [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Customer concentration	23.30%	23.20%	29.20%
Amerisource [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Customer concentration	35.60%	28.80%	45.40%
Cardinal [Member] | Gross Sales [Member]
Concentration Risk [Line Items]
Customer concentration	15.40%	19.70%	15.90%
Cardinal [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Customer concentration	16.30%	19.50%	13.60%
Cardinal [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Customer concentration	15.10%	26.10%	16.90%
McKesson [Member] | Gross Sales [Member]
Concentration Risk [Line Items]
Customer concentration	32.50%	30.10%	22.70%
McKesson [Member] | Sales Revenue, Net [Member]
Concentration Risk [Line Items]
Customer concentration	24.20%	27.30%	19.10%
McKesson [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Customer concentration	33.20%	27.90%	22.70%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Polsinelli [Member]
Related Party Transaction [Line Items]
Legal services obtained	$ 1.3	$ 1.7	$ 2.1
Accounts payable for legal services	0	$ 0.4
Family member of the Company's Executive Vice President | Legal services from Segal McCambridge Singer and Mahone
Related Party Transaction [Line Items]
Legal services obtained	$ 0.1

Selected Quarterly Financial 92

Selected Quarterly Financial Data (Unaudited) (Details) - Selected Quarterly Financial Data (Unaudited) - 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
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 283,667	$ 284,095	$ 280,734	$ 268,347	$ 279,977	$ 256,801	$ 220,920	$ 227,378	$ 1,116,843	$ 985,076	$ 555,048
Gross Profit	169,254	170,227	171,773	163,017	174,430	163,012	128,407	130,163	674,271	596,012	261,360
Operating Income	60,796	86,828	92,368	87,579	64,475	90,767	66,102	73,267	327,571	294,611	60,816
Net Income (Loss), Amount	$ 32,455	$ 47,909	$ 61,993	$ 41,886	$ 32,785	$ 47,967	$ 32,508	$ 37,538	$ 184,243	$ 150,798	$ 13,884
Net Income (Loss), Per Basic Share (in Dollars per share)	$ 0.26	$ 0.38	$ 0.51	$ 0.35	$ 0.27	$ 0.40	$ 0.28	$ 0.33	$ 1.50	$ 1.29	$ 0.13
Net Income (Loss), Per Diluted Share (in Dollars per share)	$ 0.26	$ 0.38	$ 0.50	$ 0.34	$ 0.27	$ 0.39	$ 0.27	$ 0.31	$ 1.47	$ 1.22	$ 0.13

Legal Proceedings (Details)

Legal Proceedings (Details) $ in Millions	Sep. 12, 2012USD ($)
Fera Pharmaceuticals, LLC v. Akorn Inc. [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Damages sought	$ 135

Share Repurchases (Details)

Share Repurchases (Details) - USD ($) $ / shares in Units, shares in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Jul. 31, 2016
Equity [Abstract]
Maximum stock repurchase program amount			$ 200,000,000
Stock repurchased during period (in shares)	0.9	1.8
Average price per share of stock repurchased (usd per share)	$ 22.06	$ 24.89
Remaining repurchase authorization	$ 155,000,000	$ 155,000,000