Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 24, 2014 | Jun. 30, 2013 | |
Document and Entity Information [Abstract] | ' | ' | ' |
Entity Registrant Name | 'Opko Health, Inc. | ' | ' |
Entity Central Index Key | '0000944809 | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Public Float | ' | ' | $1,177,002,323 |
Entity Common Stock, Shares Outstanding | ' | 412,922,864 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Current assets: | ' | ' | ||
Cash and cash equivalents | $185,798 | [1] | $27,361 | [1] |
Accounts receivable, net | 19,767 | [1] | 21,162 | [1] |
Inventory, net | 18,079 | [1] | 22,261 | [1] |
Prepaid expenses and other current assets | 19,084 | [1] | 7,873 | [1] |
Total current assets | 242,728 | [1] | 78,657 | [1] |
Property, plant, equipment, and investment properties, net | 17,027 | [1] | 16,526 | [1] |
Intangible assets, net | 74,533 | [1] | 84,238 | [1] |
In-process research and development | 793,341 | [1] | 11,546 | [1] |
Goodwill | 226,373 | [1] | 80,450 | [1] |
Investments, net | 30,653 | [1] | 15,636 | [1] |
Other assets | 6,861 | [1] | 2,777 | [1] |
Total assets | 1,391,516 | [1] | 289,830 | [1] |
Current liabilities: | ' | ' | ||
Accounts payable | 13,414 | [1] | 10,200 | [1] |
Accrued expenses | 65,874 | [1] | 24,656 | [1] |
Current portion of lines of credit and notes payable | 12,562 | [1] | 17,526 | [1] |
Total current liabilities | 91,850 | [1] | 52,382 | [1] |
3.00% convertible senior notes, net of discount and estimated fair value of embedded derivatives | 211,912 | [1] | 0 | [1] |
Other long-term liabilities, principally contingent consideration and deferred tax liabilities | 214,775 | [1] | 34,168 | [1] |
Total long-term liabilities | 426,687 | [1] | 34,168 | [1] |
Total liabilities | 518,537 | [1] | 86,550 | [1] |
Commitments and contingencies: | ' | [1] | ' | [1] |
Series D Preferred Stock - $0.01 par value, 2,000,000 shares authorized; no shares issued or outstanding at December 31, 2013 and 1,129,032 shares issued and outstanding (liquidation value of $30,595) at December 31, 2012 | 0 | [1] | 24,386 | [1] |
Equity: | ' | ' | ||
Common Stock - $0.01 par value, 750,000,000 shares authorized; 414,818,195 and 305,560,763 shares issued at December 31, 2013 and 2012, respectively | 4,148 | [1] | 3,056 | [1] |
Treasury Stock - 2,264,063 shares and 2,293,056 shares at December 31, 2013 and 2012, respectively | -7,362 | [1] | -7,457 | [1] |
Additional paid-in capital | 1,379,383 | [1] | 565,201 | [1] |
Accumulated other comprehensive income | 3,418 | [1] | 7,356 | [1] |
Accumulated deficit | -503,177 | [1] | -388,770 | [1] |
Total shareholders’ equity | 876,410 | [1] | 179,386 | [1] |
Noncontrolling interests | -3,431 | [1] | -492 | [1] |
Total equity | 872,979 | [1] | 178,894 | [1] |
Total liabilities, Series D Preferred Stock, and equity | 1,391,516 | [1] | 289,830 | [1] |
Series A Preferred Stock | ' | ' | ||
Equity: | ' | ' | ||
Preferred Stock | 0 | [1] | 0 | [1] |
Series C Preferred Stock | ' | ' | ||
Equity: | ' | ' | ||
Preferred Stock | $0 | [1] | $0 | [1] |
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Series A Preferred Stock | Series A Preferred Stock | Series C Preferred Stock | Series C Preferred Stock | |||
Convertible senior notes interest rate | 3.00% | ' | ' | ' | ' | ' |
Series D Preferred stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' | ' | ' |
Series D Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 | ' | ' | ' | ' |
Series D Preferred stock, shares issued (in shares) | 0 | 1,129,032 | ' | ' | ' | ' |
Series D Preferred stock, shares outstanding (in shares) | 0 | 1,129,032 | ' | ' | ' | ' |
Liquidation preference, preferred stock value | $0 | $30,595,000 | ' | ' | ' | ' |
Preferred Stock, par value (in dollars per share) | $0.01 | ' | $0.01 | $0.01 | $0.01 | $0.01 |
Preferred Stock, shares authorized (in shares) | 10,000,000 | ' | 4,000,000 | 4,000,000 | 500,000 | 500,000 |
Preferred Stock, shares issued (in shares) | ' | ' | 0 | 0 | 0 | 0 |
Preferred Stock, shares outstanding (in shares) | ' | ' | 0 | 0 | 0 | 0 |
Common Stock, par value (in dollars per share) | $0.01 | $0.01 | ' | ' | ' | ' |
Common Stock, shares authorized (in shares) | 750,000,000 | 500,000,000 | ' | ' | ' | ' |
Common Stock, shares issued (in shares) | 414,818,195 | 305,560,763 | ' | ' | ' | ' |
Treasury stock, shares (in shares) | 2,264,063 | 2,293,056 | ' | ' | ' | ' |
Total assets in variable interest entity | 6,700,000 | 5,600,000 | ' | ' | ' | ' |
Total liability in variable interest entity | $10,400,000 | $5,500,000 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenues: | ' | ' | ' |
Products | $68,161 | $45,295 | $27,844 |
Revenue from services | 11,658 | 1,749 | 135 |
Revenue from transfer of intellectual property | 16,711 | 0 | 0 |
Total revenues | 96,530 | 47,044 | 27,979 |
Costs and expenses: | ' | ' | ' |
Costs of revenues | 48,860 | 27,878 | 17,243 |
Selling, general and administrative | 55,320 | 27,795 | 19,169 |
Research and development | 53,902 | 19,520 | 11,352 |
Change in fair value of contingent consideration | 6,947 | 785 | 0 |
Amortization of intangible assets | 11,133 | 8,335 | 3,404 |
Total costs and expenses | 176,162 | 84,313 | 51,168 |
Operating loss from continuing operations | -79,632 | -37,269 | -23,189 |
Other income and (expense), net: | ' | ' | ' |
Interest income | 376 | 188 | 288 |
Interest expense | -13,802 | -1,405 | -1,005 |
Fair value changes of derivative instruments, net | -36,489 | 1,340 | -39 |
Other income (expense), net | 25,329 | -67 | -288 |
Other income and (expense), net | -24,586 | 56 | -1,044 |
Loss from continuing operations before income taxes and investment losses | -104,218 | -37,213 | -24,233 |
Income tax benefit (provision) | -1,672 | 9,626 | 19,358 |
Loss from continuing operations before investment losses | -105,890 | -27,587 | -4,875 |
Loss from investments in investees | -11,456 | -2,062 | -1,589 |
Loss from continuing operations | -117,346 | -29,649 | -6,464 |
Income from discontinued operations, net of tax | 0 | 109 | 5,181 |
Net loss | -117,346 | -29,540 | -1,283 |
Less: Net loss attributable to noncontrolling interests | -2,939 | -492 | 0 |
Net loss attributable to common shareholders before preferred stock dividend | -114,407 | -29,048 | -1,283 |
Preferred stock dividend | -420 | -2,240 | -2,379 |
Net loss attributable to common shareholders | ($114,827) | ($31,288) | ($3,662) |
Loss from continuing operations, per basic and diluted share | ($0.32) | ($0.11) | ($0.03) |
Income from discontinued operations, per basic and diluted share | $0 | $0 | $0.02 |
Net loss per share, basic and diluted | ($0.32) | ($0.11) | ($0.01) |
Weighted average number of common shares outstanding, basic and diluted | 355,095,701 | 295,750,077 | 280,673,122 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net loss attributable to common shareholders | ($114,827) | ($31,288) | ($3,662) |
Other comprehensive income (loss), net of tax: | ' | ' | ' |
Change in foreign currency translation | -1,825 | 2,289 | -2,398 |
Available for sale investments: | ' | ' | ' |
Change in other unrealized gains, net | 2,467 | 4,160 | 384 |
Less: reclassification adjustments for gains included in net loss, net of tax | -4,580 | 0 | 0 |
Comprehensive loss | ($118,765) | ($24,839) | ($5,676) |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Equity (USD $) | Total | OPKO Diagnostics [Member] | FineTech [Member] | Farmadiet [Member] | OURLab [Member] | OPKO Brazil [Member] | Cytochroma [Member] | PROLOR [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Treasury | Treasury | Treasury | Additional Paid-In Capital | Additional Paid-In Capital | Additional Paid-In Capital | Additional Paid-In Capital | Additional Paid-In Capital | Additional Paid-In Capital | Additional Paid-In Capital | Additional Paid-In Capital | Acumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Noncontrolling Interests | Series D Preferred Stock | Series D Preferred Stock | Series D Preferred Stock | Notes [Member] | Notes [Member] | Notes [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | |
In Thousands, except Share data, unless otherwise specified | OPKO Diagnostics [Member] | FineTech [Member] | Farmadiet [Member] | OURLab [Member] | OPKO Brazil [Member] | Cytochroma [Member] | PROLOR [Member] | OPKO Diagnostics [Member] | Farmadiet [Member] | OPKO Diagnostics [Member] | FineTech [Member] | Farmadiet [Member] | OURLab [Member] | OPKO Brazil [Member] | Cytochroma [Member] | PROLOR [Member] | Common Stock [Member] | Additional Paid-In Capital | Common Stock [Member] | Additional Paid-In Capital | Common Stock [Member] | Additional Paid-In Capital | Accumulated Deficit | Common Stock [Member] | Additional Paid-In Capital | |||||||||||||||||||
Beginning balance at Dec. 31, 2010 | $23,052 | ' | ' | ' | ' | ' | ' | ' | $2,554 | ' | ' | ' | ' | ' | ' | ' | ($61) | ' | ' | $376,008 | ' | ' | ' | ' | ' | ' | ' | $2,921 | ($358,379) | ' | ' | ' | ' | ' | ' | ' | $9 | ' | ' | ' | ' | ' | ' | |
Beginning balance, shares at Dec. 31, 2010 | ' | ' | ' | ' | ' | ' | ' | ' | 255,412,706 | ' | ' | ' | ' | ' | ' | ' | -45,154 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 897,439 | ' | ' | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Equity-based compensation expense | 7,155 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,155 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock options | 984 | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 980 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock options, shares | ' | ' | ' | ' | ' | ' | ' | ' | 422,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock warrants | 260 | ' | ' | ' | ' | ' | ' | ' | 29 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 231 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock warrants, shares | ' | ' | ' | ' | ' | ' | ' | ' | 2,925,894 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Preferred Stock dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -60 | ' | ' | -60 | -4,704 | ' | -4,704 | |
Conversion of Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3 | 3 | ' | ' | 1,742 | 10 | 1,732 | |
Conversion of Preferred Stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -294,680 | 294,680 | ' | ' | ' | 940,141 | ' | |
Stock Redeemed or Called During Period, Value | -1,507 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -6 | ' | -1,501 | ' | ' | ' | ' | |
Stock Redeemed or Called During Period, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -602,759 | ' | ' | ' | ' | ' | ' | |
Stock Issued During Period, Value, New Issues | 104,828 | ' | ' | ' | ' | ' | ' | ' | 294 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104,534 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | 29,397,029 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Repurchased During Period, Value | -7,832 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -7,832 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Repurchased During Period, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,398,740 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of Common Stock in connection with acquisition | ' | 22,452 | 17,717 | ' | ' | ' | ' | ' | ' | 45 | 36 | ' | ' | ' | ' | ' | ' | -199 | ' | ' | 22,606 | 17,681 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of Common Stock in connection with acquisition, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,494,380 | 3,615,703 | ' | ' | ' | ' | ' | ' | -44,583 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Purchase Price Adjustment | 92 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 92 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss attributable to common shareholders before preferred stock dividend | -1,283 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,283 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss attributable to noncontrolling interests | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other comprehensive loss | -2,014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending balance at Dec. 31, 2011 | 160,882 | ' | ' | ' | ' | ' | ' | ' | 2,975 | ' | ' | ' | ' | ' | ' | ' | -8,092 | ' | ' | 524,814 | ' | ' | ' | ' | ' | ' | ' | 907 | -359,722 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending balance, shares at Dec. 31, 2011 | ' | ' | ' | ' | ' | ' | ' | ' | 297,503,033 | ' | ' | ' | ' | ' | ' | ' | -2,488,477 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Equity-based compensation expense | 5,131 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,131 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock options | 2,234 | ' | ' | ' | ' | ' | ' | ' | 10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,224 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock options, shares | ' | ' | ' | ' | ' | ' | ' | ' | 1,019,967 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock warrants | 45 | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock warrants, shares | ' | ' | ' | ' | ' | ' | ' | ' | 65,015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Adjustment of Common Stock Value | ' | ' | ' | ' | ' | ' | ' | ' | -1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Adjustment of Common Stock Shares | ' | ' | ' | ' | ' | ' | ' | ' | -100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of Common Stock in connection with acquisition | ' | ' | ' | 805 | 32,888 | ' | ' | ' | ' | ' | ' | ' | 71 | ' | ' | ' | ' | ' | 635 | ' | ' | ' | 170 | 32,817 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of Common Stock in connection with acquisition, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,072,748 | ' | ' | ' | ' | ' | 195,421 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss attributable to common shareholders before preferred stock dividend | -29,048 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -29,048 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss attributable to noncontrolling interests | -492 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -492 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other comprehensive loss | 6,449 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,449 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending balance at Dec. 31, 2012 | 178,894 | [1] | ' | ' | ' | ' | ' | ' | ' | 3,056 | ' | ' | ' | ' | ' | ' | ' | -7,457 | ' | ' | 565,201 | ' | ' | ' | ' | ' | ' | ' | 7,356 | -388,770 | -492 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance, shares at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | 305,560,763 | ' | ' | ' | ' | ' | ' | ' | -2,293,056 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Equity-based compensation expense | 10,983 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,983 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock options | 22,796 | ' | ' | ' | ' | ' | ' | ' | 92 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,704 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock options, shares | 9,254,744 | ' | ' | ' | ' | ' | ' | ' | 9,244,971 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock warrants | 628 | ' | ' | ' | ' | ' | ' | ' | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 613 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Exercise of Common Stock warrants, shares | ' | ' | ' | ' | ' | ' | ' | ' | 1,487,774 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Preferred Stock dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,015 | ' | -3,015 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Conversion of Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,386 | 113 | 24,273 | 20,839 | 24 | 20,815 | ' | ' | ' | ' | ' | ' | ' | |
Conversion of Preferred Stock, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,290,320 | ' | ' | 2,396,145 | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of Common Stock in connection with acquisition | ' | ' | ' | ' | ' | 435 | 146,902 | 586,643 | ' | ' | ' | ' | ' | 1 | 205 | 637 | ' | ' | ' | ' | ' | ' | ' | ' | 434 | 146,697 | 586,006 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Issuance of Common Stock in connection with acquisition, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 64,684 | 20,517,030 | 63,670,805 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Issued During Period, Value, Deferred Payment | ' | ' | ' | 4,435 | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 4,430 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Issued During Period, Share, Contingent Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,993 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Issued During Period, Value, Contingent Consideration | ' | ' | ' | 337 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 95 | ' | ' | ' | 242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Stock Issued During Period, Share, Deferred Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 585,703 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss attributable to common shareholders before preferred stock dividend | -114,407 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -114,407 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Net loss attributable to noncontrolling interests | -2,939 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,939 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Other comprehensive loss | -3,938 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | -3,938 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Ending balance at Dec. 31, 2013 | $872,979 | [1] | ' | ' | ' | ' | ' | ' | ' | $4,148 | ' | ' | ' | ' | ' | ' | ' | ($7,362) | ' | ' | $1,379,383 | ' | ' | ' | ' | ' | ' | ' | $3,418 | ($503,177) | ($3,431) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending balance, shares at Dec. 31, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | 414,818,195 | ' | ' | ' | ' | ' | ' | ' | 2,264,063 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parenthetical) (USD $) | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Opko Diagnostics [Member] | Farmadiet [Member] | Farmadiet [Member] | Cytochroma [Member] | |
Share price (in dollars per share) | $5.04 | $7.52 | $4.12 | $7.16 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Cash flows from operating activities: | ' | ' | ' | ||
Net loss | ($117,346) | ($29,540) | ($1,283) | ||
Income from discontinued operations, net of tax | 0 | -109 | -5,181 | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | ||
Depreciation and amortization | 15,216 | 10,160 | 3,830 | ||
Non-cash interest on convertible senior notes | 5,980 | 0 | 2 | ||
Amortization of deferred financing costs | 1,170 | 0 | 0 | ||
Losses from investments in investees | 11,456 | 2,062 | 1,589 | ||
Equity-based compensation – employees and non-employees | 10,983 | 5,131 | 6,953 | ||
Provision for (recovery of) bad debts | 979 | -95 | 257 | ||
Provision for inventory obsolescence | 2,015 | 2,688 | 607 | ||
Revenue from receipt of equity | -12,740 | -159 | -85 | ||
Realized gain on sale of equity securities | -29,881 | 0 | 0 | ||
Loss on conversion of 3.00% convertible senior notes | 8,688 | 0 | 0 | ||
Loss on sale of property, plant and equipment | 60 | 0 | 0 | ||
Change in fair value of derivatives instruments | 36,489 | -1,340 | 39 | ||
Change in fair value of contingent consideration | 6,947 | 785 | 0 | ||
Deferred income tax (benefit)/provision | 599 | -9,958 | -19,749 | ||
Changes in assets and liabilities of continuing operations, net of the effects of acquisitions: | ' | ' | ' | ||
Accounts receivable | 754 | 763 | -1,719 | ||
Inventory | 1,892 | -5,807 | 2,170 | ||
Prepaid expenses and other current assets | -1,131 | -2,877 | 57 | ||
Other assets | -544 | -361 | 16 | ||
Accounts payable | 1,829 | 1,247 | -1,784 | ||
Foreign currency measurement | -2,386 | 86 | 363 | ||
Accrued expenses | 779 | 1,902 | -21 | ||
Cash used in operating activities of continuing operations | -58,192 | -25,422 | -13,939 | ||
Cash provided by operating activities of discontinued operations | 0 | 7 | -4,561 | ||
Net cash used in operating activities | -58,192 | -25,415 | -18,500 | ||
Cash flows from investing activities: | ' | ' | ' | ||
Investments in investees | -17,441 | -3,396 | -2,013 | ||
Proceeds from sale of equity securities | 30,556 | 0 | 0 | ||
Acquisition of businesses, net of cash acquired | 20,528 | -19,092 | -28,186 | ||
Purchase of marketable securities | -50,027 | -25,806 | -100,161 | ||
Maturities of short-term marketable securities | 50,027 | 24,997 | 100,161 | ||
Proceeds from the sale of property, plant and equipment | 636 | 0 | 0 | ||
Capital expenditures | -3,962 | -1,472 | -1,953 | ||
Cash provided (or used) by investing activities from continuing operations | 30,317 | -24,769 | -32,152 | ||
Cash provided by investing activities from discontinued operations | 0 | 0 | 17,316 | ||
Net cash provided (or used) in investing activities | 30,317 | -24,769 | -14,836 | ||
Cash flows from financing activities: | ' | ' | ' | ||
Issuance of 3.00% convertible senior notes, net, including related parties | 170,184 | 0 | 0 | ||
Issuance of Common Stock, net (including related parties) net | 0 | 0 | 104,828 | ||
Purchase of Common Stock held in treasury | 0 | 0 | -7,832 | ||
Redemption of Series A Preferred Stock (including related parties | 0 | 0 | -1,792 | ||
Payment of Series D dividends, including related parties | -3,015 | 0 | -4,704 | ||
Proceeds from the exercise of Common Stock options and warrants | 23,425 | 2,279 | 1,244 | ||
Borrowings on lines of credit | 34,577 | 36,506 | 15,300 | ||
Repayments of lines of credit | -38,997 | -32,754 | -20,127 | ||
Net cash provided by financing activities | 186,174 | 6,031 | 86,917 | ||
Effect of exchange rate on cash and cash equivalents | 138 | -2 | -81 | ||
Net increase (decrease) in cash and cash equivalents | 158,437 | -44,155 | 53,500 | ||
Cash and cash equivalents at beginning of period | 27,361 | [1] | 71,516 | 18,016 | |
Cash and cash equivalents at end of period | $185,798 | [1] | $27,361 | [1] | $71,516 |
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Condensed_Consolidated_Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) | Dec. 31, 2013 |
Statement of Cash Flows [Abstract] | ' |
Convertible senior notes interest rate | 3.00% |
Business_and_Organization
Business and Organization | 12 Months Ended |
Dec. 31, 2013 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' |
Business and Organization | ' |
Business and Organization | |
We are a multi-national biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large and rapidly growing medical markets by leveraging our discovery, development and commercialization expertise and our novel and proprietary technologies. We are developing a range of solutions to diagnose, treat and prevent various conditions, including point-of-care tests, molecular diagnostics tests, laboratory developed tests, and proprietary pharmaceuticals and vaccines. We plan to commercialize these solutions on a global basis in large and high growth markets, including emerging markets. | |
We own established pharmaceutical platforms in Chile, Spain, Mexico, and Uruguay, which are generating revenue and which we expect to generate positive cash flow and facilitate future market entry for our products currently in development. In addition, we have also established pharmaceutical operations in Brazil. We own a specialty active pharmaceutical ingredients (“APIs”) manufacturer in Israel, which we expect will facilitate the development of our pipeline of molecules and compounds for our proprietary molecular diagnostic and therapeutic products. In the U.S., we own a laboratory certified under the Clinical Laboratory Improvement Amendments of 1988, as amended (“CLIA”), with a urologic focus that generates revenue and we expect will serve as a commercial platform for the U.S. launch of our next generation prostate cancer test to improve cancer risk stratification of patient candidates for prostate biopsy. | |
We are incorporated in Delaware and our principal executive offices are located in leased offices in Miami, Florida. We lease office and lab space in Jupiter and Miramar, Florida, and Nes Ziona, Israel, which is where our molecular diagnostics research and development, oligonucleotide research and development and carboxyl terminal peptide research and development operations are based, respectively. We lease office, manufacturing and warehouse space in Woburn, Massachusetts for our point-of-care diagnostics business, and in Nesher, Israel for our API business. We lease laboratory and office space in Nashville, Tennessee and Burlingame, California for our CLIA-certified laboratory business, and we lease office space in Bannockburn, Illinois, and Markham, Ontario for our pharmaceutical business directed to chronic kidney disease (“CKD”). Our Chilean and Uruguayan operations are located in leased offices and warehouse facilities in Santiago and Montevideo, respectively. Our Mexican operations are based in owned offices, an owned manufacturing facility and a leased warehouse facility in Guadalajara and in leased offices in Mexico City. Our Spanish operations are based in owned offices in Barcelona, in an owned manufacturing facility in Banyoles and a leased warehouse facility in Palol de Revardit. Our Brazilian operations are located in leased offices in Sao Paulo. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Basis of Presentation. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. and with the instructions to Form 10-K and of Regulation S-X. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. | |
Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. 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 from those estimates. | |
Correction of an error. The consolidated statements of operations for the year ended December 31, 2013 include a $2.7 million, or $0.01 per share, reduction of research and development expense. This reduction is the result of correcting the cumulative effect of an error in calculating equity based compensation expense for certain performance based stock options granted to a non-employee. The effect of this error was not material to the financial statements of any prior annual or quarterly periods nor is it material to 2013 financial statements presented herein; and as such, the cumulative effect of such error was recorded as a reduction to research and development expense in the year ended December 31, 2013. | |
Cash and cash equivalents. Cash and cash equivalents include short-term, interest-bearing instruments with original maturities of 90 days or less at the date of purchase. We also consider all highly liquid investments with original maturities at the date of purchase of 90 days or less as cash equivalents. These investments include money markets, bank deposits, certificates of deposit and U.S. treasury securities. | |
Inventories. Inventories are valued at the lower of cost or market (net realizable value). Cost is determined by the first-in, first-out method. We consider such factors as the amount of inventory on hand, estimated time required to sell such inventories, remaining shelf-life, and current market conditions to determine whether inventories are stated at the lower of cost or market. | |
Shipping and Handling Costs. We do not charge customers for shipping and handling costs. Shipping and handling costs are classified as Cost of revenues in the Consolidated Statements of Operations. | |
Property, Plant, Equipment and Investment Properties. Property, plant, equipment and investment properties are recorded at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets, generally five to ten years and includes amortization expense for assets capitalized under capital leases. The estimated useful lives by asset class are as follows: software – 3 years, machinery and equipment – 5-8 years, furniture and fixtures – 5-10 years, leasehold improvements – the lesser of their useful life or the lease term, buildings and improvements – 10-40 years. Expenditures for repairs and maintenance are charged to expense as incurred, while betterments reduce accumulated depreciation. Depreciation expense from continuing operations was $4.1 million, $1.8 million, and $0.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Goodwill and Intangible Assets. Goodwill represents the difference between the purchase price and the estimated fair value of the net assets acquired when accounted for by the purchase method of accounting and arose from our acquisitions of Pharma Genexx, S.A. (“OPKO Chile”), Pharmacos Exakta S.A. de C.V. (“Exakta-OPKO”), CURNA, Inc. (“CURNA”), Claros Diagnostics, Inc. (“OPKO Diagnostics”), FineTech Pharmaceuticals, Ltd. (“FineTech”), ALS Distribuidora Limitada (“ALS”), Farmadiet Group Holding, S.L. (“Farmadiet”), Prost-Data, Inc. (“OPKO Lab”), Cytochroma Inc. (“Cytochroma”), Silcon Comércio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda. (“OPKO Brazil”) and PROLOR Biotech, Inc. (“PROLOR”). Goodwill, in-process research and development (“IPR&D”) and other intangible assets acquired in business combinations, licensing and other transactions at December 31, 2013 and December 31, 2012 were $1.1 billion and $0.2 billion, respectively. | |
Assets acquired and liabilities assumed in business combinations, licensing and other transactions are recognized at the date of acquisition at their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recognized as goodwill. We determined the fair value of intangible assets, including IPR&D, using the “income method.” | |
Goodwill is tested at least annually for impairment, or when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable, on an enterprise level by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that its fair value exceeds the carrying value. | |
We amortize intangible assets with definite lives on a straight-line basis over their estimated useful lives, ranging from 3 to 10 years, and review for impairment at least annually, or when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We use the straight-line method of amortization as there is no reliably determinable pattern in which the economic benefits of our intangible assets are consumed or otherwise used up. Amortization expense from continuing operations was $11.1 million, $8.3 million, and $3.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. Amortization expense from continuing operations for our intangible assets is expected to be $11.0 million, $10.5 million, $9.6 million, $9.4 million and $7.1 million, respectively, for the years ended December 31, 2014, 2015, 2016, 2017, and 2018. | |
Impairment of Long-Lived Assets. Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, then an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value, or carrying amount for cost basis assets, of the asset. | |
Fair value measurements. The carrying amounts of our cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to the short-term maturities of these instruments. Investments that are considered available for sale as of December 31, 2013 and 2012 are carried at fair value. | |
Short-term investments, which we invest in from time to time, include bank deposits, corporate notes, U.S. treasury securities and U.S. government agency securities with original maturities of greater than 90 days and remaining maturities of less than one year. Long-term investments include corporate notes, U.S. treasury securities and U.S. government agency securities with maturities greater than one year. | |
In evaluating the fair value information, considerable judgment is required to interpret the market data used to develop the estimates. The use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts. Accordingly, the estimates of fair value presented herein may not be indicative of the amounts that could be realized in a current market exchange. Refer to Note 18. | |
Contingent consideration. Each period we revalue the contingent consideration obligations associated with certain acquisitions to their fair value and record increases in the fair value as contingent consideration expense and decreases in the fair value as contingent consideration income. Changes in contingent consideration result from changes in the assumptions regarding probabilities of successful achievement of related milestones, the estimated timing in which the milestones are achieved and the discount rate used to estimate the fair value of the liability. Contingent consideration may change significantly as our development programs progress, revenue estimates evolve and additional data is obtained, impacting our assumptions. The assumptions used in estimating fair value require significant judgment. The use of different assumptions and judgments could result in a materially different estimate of fair value which may have a material impact on our results from operations and financial position. | |
Derivative financial instruments. We record derivative financial instruments on our Consolidated Balance Sheet at their fair value and recognize the changes in the fair value in our Consolidated Statement of Operations, when they occur, the only exception being derivatives that qualify as hedges. For the derivative instrument to qualify as a hedge, we are required to meet strict hedge effectiveness and contemporaneous documentation requirements at the initiation of the hedge and assess the hedge effectiveness on an ongoing basis over the life of the hedge. At December 31, 2013 and 2012, our forward contracts for inventory purchases did not meet the documentation requirements to be designated as hedges. Accordingly, we recognize all changes in the fair values of our derivatives instruments in Fair value changes of derivatives instruments, net, in our Consolidated Statement of Operations. Refer to Note 19. | |
Research and development expenses. Research and development expenses include external and internal expenses, partially offset by third-party grants and fundings arising from collaboration agreements. External expenses include clinical and non-clinical activities performed by contract research organizations, lab services, purchases of drug and diagnostic product materials and manufacturing development costs. Research and development employee-related expenses include salaries, benefits and stock-based compensation expense. Other unallocated internal research and development expenses are incurred to support overall research and development activities and include expenses related to general overhead and facilities. We expense these costs in the period in which they are incurred. We estimate our liabilities for research and development expenses in order to match the recognition of expenses to the period in which the actual services are received. As such, accrued liabilities related to third party research and development activities are recognized based upon our estimate of services received and degree of completion of the services in accordance with the specific third party contract. | |
We record expense for in-process research and development projects acquired as asset acquisitions which have not reached technological feasibility and which have no alternative future use. For in-process research and development projects acquired in business combinations, the in-process research and development project is capitalized and evaluated for impairment until the development process has been completed. Once the development process has been completed the asset will be amortized over its remaining useful life. | |
Income Taxes. Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. We periodically evaluate the realizability of our net deferred tax assets. Our tax accruals are analyzed periodically and adjustments are made as events occur to warrant such adjustment. | |
Loss Per Share. Basic loss per share is computed by dividing our net loss by the weighted average number of shares outstanding during the period. Diluted loss per share is computed by dividing our net loss increased by dividends on preferred stock by the weighted average number of shares outstanding and the impact of all dilutive potential common shares, primarily stock options. The dilutive impact of stock options and warrants is determined by applying the “treasury stock” method. In the periods in which their effect would be anti-dilutive, no effect has been given to outstanding options, warrants or convertible Preferred Stock in the diluted computation. Potentially dilutive shares issuable pursuant to the 2033 Senior Notes (defined in Note 6) were not included in the computation of net loss per share for the year ended December 31, 2013, because their inclusion would be anti-dilutive. | |
A total of 32,105,859, 26,695,436 and 26,661,326 potential shares of Common Stock have been excluded from the calculation of net loss per share for the years ended December 31, 2013, 2012 and 2011, respectively, because their inclusion would be anti-dilutive. During the year ended December 31, 2013, 10,881,570 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 10,732,745 shares of Common Stock. Of the 10,881,570 Common Stock options and Common Stock warrants exercised, 148,825 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements. During the year ended December 31, 2012, 1,086,361 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 1,084,982 shares of Common Stock. Of the 1,086,361 Common Stock options and Common Stock warrants exercised, 1,379 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements. During year ended December 31, 2011, 3,702,497 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 3,348,394 shares of Common Stock. Of the 3,702,497 Common Stock options and Common Stock warrants exercised, 354,103 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements | |
Revenue recognition. Generally, we recognize revenue from product sales when goods are shipped and title and risk of loss transfer to our customers. Our estimates for sales returns and allowances are based upon the historical patterns of product returns and allowances taken, matched against the sales from which they originated, and management’s evaluation of specific factors that may increase or decrease the risk of product returns. | |
Revenue for laboratory services is recognized on the accrual basis at the time test results are reported, which approximates when services are provided. Services are provided to certain patients covered by various third-party payer programs including various managed care organizations, as well as the Medicare and Medicaid programs. Billings for services under third-party payer programs are included in sales net of allowances for contractual discounts and allowances for differences between the amounts billed and estimated program payment amounts. Adjustments to the estimated payment amounts based on final settlement with the programs are recorded upon settlement as an adjustment to revenue. For the years ended December 31, 2013, 2012 and 2011, respectively, revenue from other services included $0.2 million, $1.4 million and $0.1 million respectively, of revenue related to our consulting agreement with Neovasc and to revenue related to molecular diagnostics collaboration agreements. We recognize this revenue on a straight-line basis over the contractual term of the agreements. | |
Revenue from transfer of intellectual property includes revenue related to the sale, license or transfer of intellectual property such as upfront license payments, license fees and milestone payments received through our license, collaboration and commercialization agreements. We analyze our multiple-element arrangements to determine whether the elements can be separated and accounted for individually as separate units of accounting. | |
Non-refundable license fees for the out-license of our technology are recognized depending on the provisions of each agreement. We recognize non-refundable upfront license payments as revenue upon receipt if the license has standalone value and the fair value of our undelivered obligations, if any, can be determined. If the license is considered to have standalone value but the fair value of any of the undelivered items cannot be determined, the license payments are recognized as revenue over the period of our performance for such undelivered items or services. License fees with ongoing involvement or performance obligations are recorded as deferred revenue, included in Accrued expenses or Other long-term liabilities, when received and generally are recognized ratably over the period of such performance obligation only after both the license period has commenced and we have delivered the technology. | |
The assessment of our obligations and related performance periods requires significant management judgment. If an agreement contains research and development obligations, the relevant time period for the research and development phase is based on management estimates and could vary depending on the outcome of clinical trials and the regulatory approval process. Such changes could materially impact the revenue recognized, and as a result, management reviews the estimates related to the relevant time period of research and development on a quarterly basis. For the year ended December 31, 2013, we recorded $16.7 million of revenue from the transfer of intellectual property, of which $12.5 million related to the sale of substantially all of our assets in the field of RNA interference to RXi Pharmaceuticals Corporation (“RXi”) and $3.8 million related to the rights granted to OAO Pharmsynthez (“Pharmsynthez”) of certain technologies. Refer to Note 3. For the years ended December 31, 2012 and 2011, we recorded no revenues from the transfer of intellectual property, respectively. | |
Revenue from milestone payments related to arrangements under which we have continuing performance obligations are recognized as Revenue from transfer of intellectual property upon achievement of the milestone only if all of the following conditions are met: the milestone payments are non-refundable; there was substantive uncertainty at the date of entering into the arrangement that the milestone would be achieved; the milestone is commensurate with either the vendor’s performance to achieve the milestone or the enhancement of the value of the delivered item by the vendor; the milestone relates solely to past performance; and the amount of the milestone is reasonable in relation to the effort expended or the risk associated with the achievement of the milestone. If any of these conditions are not met, the milestone payments are not considered to be substantive and are, therefore, deferred and recognized as Revenue from transfer of intellectual property over the term of the arrangement as we complete our performance obligations. | |
Total deferred revenue included in Accrued expenses and Other long-term liabilities was $7.6 million and $1.9 million at December 31, 2013 and 2012, respectively. | |
Allowance for doubtful accounts. We analyze accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts using the specific identification method. Our reported net loss is directly affected by our estimate of the collectability of accounts receivable. The amount of the allowance for doubtful accounts was $1.9 million and $0.5 million at December 31, 2013 and 2012, respectively. | |
Product Warranties. Product warranty expenses are recorded concurrently with the recording of revenue for product sales. The costs of warranties are recorded as a component of cost of sales. We estimate warranty costs based on our estimated historical experience and adjust for any known product reliability issues. | |
Equity-based compensation. We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized in the Consolidated Statement of Operations over the period during which an employee is required to provide service in exchange for the award. We record excess tax benefits, realized from the exercise of stock options as a financing cash inflow rather than as a reduction of taxes paid in cash flow from operations. Equity-based compensation arrangements to non-employees are recorded at their fair value on the measurement date. The measurement of equity-based compensation is subject to periodic adjustment as the underlying equity instruments vest. During the years ended December 31, 2013, 2012 and 2011, we recorded $11.0 million, $5.1 million and $7.0 million, respectively, of equity-based compensation in the loss from continuing operations. | |
Segment reporting. Our chief operating decision-maker (“CODM”) is comprised of our executive management with the oversight of our Board of Directors. Our CODM reviews our operating results and operating plans and makes resource allocation decisions on a Company-wide or aggregate basis. We currently manage our operations in two reportable segments, pharmaceuticals and diagnostics. The pharmaceuticals segment consists of two operating segments, our (i) pharmaceutical research and development segment which is focused on the research and development of pharmaceutical products and vaccines, and (ii) the pharmaceutical operations we acquired in Chile, Mexico, Israel, Spain and Brazil. The diagnostics segment consists of two operating segments, our (i) pathology operations we acquired through the acquisition of OPKO Lab and (ii) point-of-care and molecular diagnostics operations. There are no inter-segment sales. We evaluate the performance of each segment based on operating profit or loss. There is no inter-segment allocation of interest expense and income taxes. | |
Variable interest entities. The consolidation of variable interest entities (“VIE”) is required when an enterprise has a controlling financial interest. A controlling financial interest in a VIE will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE. Refer to Note 3. | |
Investments. We have made strategic investments in development stage and emerging companies. We record these investments as equity method investments or investments available for sale based on our percentage of ownership and whether we have significant influence over the operations of the investees. For investments classified under the equity method of accounting, we record our proportionate share of their losses in Losses from investments in investees in our Consolidated Statement of Operations. Refer to Note 3. For investments classified as available for sale, we record changes in their fair value as unrealized gain or loss in Other comprehensive loss based on their closing price per share at the end of each reporting period. Refer to Note 3. | |
Recent accounting pronouncements. In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, (“ASU 2013-2”). ASU 2013-2 requires the presentation of reclassifications out of accumulated other comprehensive income in either (1) the notes or (2) the face of the financial statements. We adopted ASU 2013-2 for our first quarter ended March 31, 2013. The adoption of ASU 2013-2 did not have a material impact in our Consolidated Financial Statements, but did require certain additional disclosures. Refer to Note 7. | |
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 is intended to eliminate inconsistent practices regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from the disallowance of a tax position. This ASU will be effective for our fiscal year beginning January 1, 2014 and subsequent interim periods. The adoption of ASU 2013-11 is not expected to have a material effect on our Consolidated Financial Statements. |
Acquisitions_Investments_and_L
Acquisitions, Investments, and Licenses | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||||||
Acquisitions, Investments and Licenses | ' | |||||||||||||||||||
Acquisitions, Investments and Licenses | ||||||||||||||||||||
Acquisitions for the year ended December 31, 2013 | ||||||||||||||||||||
PROLOR acquisition | ||||||||||||||||||||
In August 2013, we acquired PROLOR pursuant to an Agreement and Plan of Merger dated as of April 23, 2013 (the “PROLOR Merger Agreement”) in an all-stock transaction. PROLOR is an Israeli-based biopharmaceutical company focused on developing and commercializing longer-acting proprietary versions of already approved therapeutic proteins. | ||||||||||||||||||||
Under the terms of the PROLOR Merger Agreement, holders of PROLOR common stock received 0.9951 shares of our Common Stock for each share of PROLOR common stock. At closing we delivered 63,670,805 shares of our Common Stock valued at $540.6 million based on the closing price per share of our Common Stock as reported by the NYSE on the closing date of the acquisition, or $8.49 per share. In addition, each outstanding option and warrant to purchase shares of PROLOR Common Stock that was outstanding and unexercised immediately prior to the closing date, whether vested or not vested, was converted into 7,889,265 options and warrants to purchase OPKO Common Stock at a fair value of $46.1 million. | ||||||||||||||||||||
Until completion of the acquisition of PROLOR, Dr. Phillip Frost, our Chairman and Chief Executive Officer, was PROLOR’s Chairman of the Board and a greater than 5% stockholder of PROLOR. Dr. Jane H. Hsiao, our Vice Chairman and Chief Technology Officer and Mr. Steven Rubin, our Executive Vice President, Administration, were both directors of PROLOR and less than 5% stockholders of PROLOR. | ||||||||||||||||||||
Cytochroma acquisition | ||||||||||||||||||||
In March 2013, we acquired Cytochroma, a corporation located in Markham, Canada, whose lead products, both in phase 3 development, are RayaldyTM (CTAP101), a vitamin D prohormone to treat secondary hyperparathyroidism in patients with stage 3 or 4 CKD and vitamin D insufficiency, and AlpharenTM (Fermagate Tablets), a non-absorbed phosphate binder to treat hyperphosphatemia in dialysis patients (the “Cytochroma Acquisition”). | ||||||||||||||||||||
In connection with the Cytochroma Acquisition, we delivered 20,517,030 of shares of our Common Stock valued at $146.9 million based on the closing price per share of our Common Stock as reported by the NYSE on the actual closing date of the acquisition, or $7.16 per share. The number of shares issued was based on the volume-weighted average price per share of our Common Stock as reported on the NYSE for the 10 trading days immediately preceding the date of the purchase agreement for the Cytochroma Acquisition, or $4.87 per share. The Cytochroma Agreement contains customary representations, warranties, conditions to closing, indemnification rights and obligations of the parties. | ||||||||||||||||||||
In addition, the Cytochroma Acquisition requires payments of up to an additional $190.0 million in cash or additional shares of our Common Stock, at our election, upon the achievement of certain milestones relating to development and annual revenue. As a result, we recorded $47.7 million as contingent consideration. We evaluate the contingent consideration on an ongoing basis and the changes in the fair value are recognized in earnings until the milestones are achieved. Refer to Note 18. | ||||||||||||||||||||
The following table summarizes the preliminary purchase price allocation and the estimated fair value of the net assets acquired and liabilities assumed in the acquisitions of Cytochroma and PROLOR at the dates of acquisition, which are subject to change until contingencies that existed on the acquisition date are resolved: | ||||||||||||||||||||
(In thousands) | Cytochroma | PROLOR | ||||||||||||||||||
Current assets (1) | $ | 1,224 | $ | 21,500 | ||||||||||||||||
Intangible assets: | ||||||||||||||||||||
In-process research and development | 191,530 | 590,200 | ||||||||||||||||||
Patents | 210 | — | ||||||||||||||||||
Total intangible assets | 191,740 | 590,200 | ||||||||||||||||||
Goodwill | 2,411 | 139,784 | ||||||||||||||||||
Property, plant and equipment | 306 | 1,057 | ||||||||||||||||||
Other assets | — | 371 | ||||||||||||||||||
Accounts payable and accrued expenses | (1,069 | ) | (9,866 | ) | ||||||||||||||||
Deferred tax liability | — | (156,403 | ) | |||||||||||||||||
Total purchase price | $ | 194,612 | $ | 586,643 | ||||||||||||||||
(1)Current assets include cash of $0.4 million and $20.5 million related to the Cytochroma and PROLOR acquisitions, respectively. | ||||||||||||||||||||
Goodwill from the acquisition of PROLOR principally relates to the deferred tax liability generated as a result of this being a stock transaction and the assembled workforce. Goodwill from the acquisition of Cytochroma principally relates to the assembled workforce. Goodwill is not tax deductible for income tax purposes. | ||||||||||||||||||||
OPKO Brazil asset acquisition | ||||||||||||||||||||
In February 2013, we acquired the assets of OPKO Brazil, a Brazilian pharmaceutical company, pursuant to a purchase agreement entered into in December 2012. Pursuant to the purchase agreement, we paid $0.3 million in cash and delivered 64,684 shares of our Common Stock at closing valued at $0.4 million based on the closing price per share of our Common Stock as reported by the NYSE on the actual closing date of the acquisition, or $6.73 per share. The number of shares issued was based on the average closing price per share of Common Stock as reported on the NYSE for the 10 trading days immediately preceding the execution of the purchase agreement, or $4.64 per share. | ||||||||||||||||||||
We accounted for this acquisition as an asset acquisition rather than a business combination. As a result we recorded the assets at fair value, with most of the value being allocated to the most significant asset, its pharmaceutical business licenses. | ||||||||||||||||||||
Acquisitions for the year ended December 31, 2012 | ||||||||||||||||||||
OPKO Lab acquisition | ||||||||||||||||||||
In October 2012, we entered into a definitive merger agreement to acquire OPKO Lab, a Nashville-based CLIA laboratory. In December 2012, we paid $9.4 million in cash and delivered 7,072,748 shares of our Common Stock at closing valued of $32.9 million based on the closing sales price per share of our Common Stock as reported by the NYSE on the actual closing date of the acquisition, or $4.65 per share. The number of shares issued was based on the average closing price per share of our Common Stock as reported on the NYSE for the 15 trading days immediately preceding the execution of the purchase agreement, or $4.33 per share. Pursuant to the merger agreement, 1,732,102 shares of Common Stock issued in the transaction are being held in a separate escrow account to secure indemnification obligations of the former owner. | ||||||||||||||||||||
Farmadiet acquisition | ||||||||||||||||||||
In August 2012, we entered into a stock purchase agreement pursuant to which we acquired all of the outstanding stock of Farmadiet, a Spanish company engaged in the development, manufacture, marketing, and sale of pharmaceutical, nutraceutical, and veterinary products in Europe (the “Farmadiet Transaction”). | ||||||||||||||||||||
In connection with the Farmadiet Transaction, we agreed to pay an aggregate purchase price of €13.5 million (approximately $16.0 million), of which (i) 50% ($8.4 million) was paid in cash at closing, and (ii) 50% (the “Deferred Payments”) will be paid, at our option, in cash or shares of our Common Stock as follows: (x) 25% to be paid on the first anniversary of the closing date; and (y) 25% to be paid 18 months after the closing date. On the date of acquisition, we recorded the €6.8 million Deferred Payments at $7.8 million, net of a discount of $0.6 million. The discount will be amortized as interest expense through the respective payment dates. The Deferred Payments are required to be paid in Euro and as such, the final U.S. dollar amount to be paid will be based on the exchange rate at the time the Deferred Payments are made. In the event we elect to pay the Deferred Payments in shares of our Common Stock, the number of shares issuable shall be calculated using the average closing price per share of our Common Stock as reported on the NYSE for the 10 trading days immediately preceding the applicable payment date. On August 2, 2013, we issued 585,703 shares of our Common Stock, in accordance with the first Deferred Payment. The number of shares issued was based on the average closing price per share of our Common Stock as reported on the NYSE for the 10 trading days up to and including August 1, 2013, or $7.61 per share. On February 14, 2014, we delivered approximately €3.4 million in cash in accordance with the second Deferred Payment. We had the right to hold back up to €2.8 million (approximately $3.9 million as of December 31, 2013) from the Deferred Payment to satisfy indemnity claims. | ||||||||||||||||||||
In connection with the Farmadiet Transaction, we also entered into two ancillary transactions (the “Ancillary Transactions”). In exchange for a 40% interest held by one of the sellers in one of Farmadiet’s subsidiaries, we agreed to issue up to an aggregate of 250,000 shares of our Common Stock, of which (a) 125,000 shares were issued on the closing date, and (b) 125,000 will be issued upon achieving certain milestones. In addition, we acquired an interest held by an affiliate of Farmadiet in a product in development in exchange for which we agreed to pay up to an aggregate of €1.0 million ($1.3 million) payable at our option in cash or shares of our Common Stock, of which 25% ($0.3 million) was paid at closing through delivery of 70,421 shares of our Common Stock, and (b) 75% ($1.0 million) will be paid in cash or shares of our Common Stock upon achieving certain milestones. As a result, we recorded $1.2 million as contingent consideration for the future consideration. We evaluate the contingent consideration on an ongoing basis and the changes in fair value are recognized in earnings until the milestones are achieved. Refer to Note 18. In November 2013, we issued 28,993 shares of our Common Stock, as certain of the milestones agreed upon were achieved. The final U.S. dollar amount to be paid will be based on the exchange rate at the time the milestones are achieved. The number of shares of our Common Stock issued is determined based on the average closing sales price for our Common Stock on the NYSE for the 10 trading days preceding the required payment date. | ||||||||||||||||||||
ALS acquisition | ||||||||||||||||||||
In April 2012, we completed the acquisition of ALS Distribuidora Limitada (“ALS”), a privately-held Chilean pharmaceutical company, pursuant to a stock purchase agreement entered into in January 2012. In connection with the transaction, we agreed to pay up to a total of $4.0 million in cash to the sellers. Pursuant to the purchase agreement, we paid (i) $2.4 million in cash at the closing, less certain liabilities, and (ii) $0.8 million in cash at the closing into a separate escrow account to satisfy possible indemnity claims. During the year ended December 31, 2013, we paid the remaining $0.8 million that we had agreed to pay upon the legal registration in the name of ALS of certain trademarks and product registrations previously held by the former owner of ALS, Arama Laboratorios y Compañía Limitada. | ||||||||||||||||||||
The following table summarizes the estimated fair value of the net assets acquired and liabilities assumed in the acquisitions of OPKO Lab, Farmadiet and ALS at the dates of acquisition, which are subject to change while contingencies that existed on the acquisition dates are resolved: | ||||||||||||||||||||
(In thousands) | OPKO Lab | Farmadiet | ALS | |||||||||||||||||
Current assets(1)(2) | $ | 6,020 | $ | 8,367 | $ | 767 | ||||||||||||||
Intangible assets: | ||||||||||||||||||||
Customer relationships | 3,860 | 436 | — | |||||||||||||||||
Technology | 1,370 | 3,017 | — | |||||||||||||||||
In-process research and development | — | 1,459 | — | |||||||||||||||||
Product registrations | — | 2,930 | 2,300 | |||||||||||||||||
Licenses | 70 | — | — | |||||||||||||||||
Covenants not to compete | 6,900 | 187 | — | |||||||||||||||||
Tradename | 1,830 | 349 | 680 | |||||||||||||||||
Total intangible assets | 14,030 | 8,378 | 2,980 | |||||||||||||||||
Goodwill | 29,629 | 8,062 | 458 | |||||||||||||||||
Property, plant and equipment | 2,117 | 7,205 | 24 | |||||||||||||||||
Other assets | 37 | 611 | — | |||||||||||||||||
Accounts payable and accrued expenses(2) | (3,214 | ) | (3,438 | ) | (229 | ) | ||||||||||||||
Deferred tax liability | (6,356 | ) | (3,169 | ) | — | |||||||||||||||
Debt assumed | — | (7,829 | ) | — | ||||||||||||||||
Total purchase price | $ | 42,263 | $ | 18,187 | $ | 4,000 | ||||||||||||||
-1 | Current assets include cash of $1.1 million, $0.2 million and $33 thousand related to the OPKO Lab, Farmadiet and ALS acquisitions, respectively. | |||||||||||||||||||
-2 | Current assets, accounts payable and accrued expenses include $1.9 million, respectively for a contingency loss and offsetting indemnification asset. Refer to Note 14. | |||||||||||||||||||
Acquisitions for the year ended December 31, 2011 | ||||||||||||||||||||
FineTech acquisition | ||||||||||||||||||||
In December 2011, we purchased all of the issued and outstanding shares of FineTech, a privately-held Israeli company focused on the development and production of APIs. At closing, we delivered to the seller $27.7 million, of which $10.0 million was paid in cash and $17.7 million was paid in shares of our Common Stock. The shares delivered at closing were valued at $17.7 million based on the closing sales price per share of our Common Stock as reported by the NYSE on the actual closing date of the acquisition, or $4.90 per share. The number of shares issued was based on the average closing sales price per share of our Common Stock as reported on the NYSE for the 10 trading days immediately preceding the execution of the purchase agreement, or $4.84 per share. Upon finalization of the closing financial statements of FineTech, we accrued an additional $0.5 million purchase price adjustment related to a working capital surplus, as defined in the purchase agreement, which was paid to the seller in February 2012. In addition, the purchase agreement provides for the payment of additional cash consideration subject to the achievement of certain sales milestones. We evaluate the contingent consideration on an ongoing basis and the changes in fair value are recognized in earnings until the contingencies are resolved. Refer to Note 18. | ||||||||||||||||||||
OPKO Diagnostics acquisition | ||||||||||||||||||||
In October 2011, we acquired OPKO Diagnostics pursuant to an agreement and plan of merger. We paid $10.0 million in cash, subject to certain set-offs and deductions, and $22.5 million in shares of our Common Stock, based on the closing sales price per share of our Common Stock as reported by the NYSE on the closing date of the merger, or $5.04 per share. The number of shares issued was based on the average closing sales price per share of our Common Stock as reported by the NYSE for the 10 trading days immediately preceding the date of the merger, or $4.45 per share. Pursuant to the merger agreement, $5.0 million of the stock consideration was held in a separate escrow account until October 2012 to secure the indemnification obligations of the sellers under the OPKO Diagnostics merger agreement. In December 2011, we made a $0.2 million claim against the escrow for certain undisclosed liabilities. In addition, the merger agreement provides for the payment of up to an additional $19.1 million in shares of our Common Stock upon and subject to the achievement of certain milestones. We evaluate the contingent consideration on an ongoing basis and the changes in fair value are recognized in earnings until the milestones are achieved. Refer to Note 18. | ||||||||||||||||||||
CURNA acquisition | ||||||||||||||||||||
In January 2011, we acquired all of the outstanding stock of CURNA in exchange for $10.0 million in cash, plus $0.6 million in liabilities, of which, $0.5 million was paid at closing. In addition to the cash consideration, we have agreed to pay to the CURNA sellers a portion of any consideration we receive in connection with certain license, partnership or collaboration agreements we may enter into with third parties in the future relating to the CURNA technology, including, license fees, upfront payments, royalties and milestone payments. As a result, we recorded $0.6 million, as contingent consideration for the future consideration. We evaluate the contingent consideration on an ongoing basis and the changes in fair value are recognized in earnings until the milestones are achieved. Refer to Note 18. CURNA was a privately-held company based in Jupiter, Florida, engaged in the discovery of new drugs for the treatment of a wide variety of illnesses, including cancer, heart disease, metabolic disorders and a range of genetic anomalies. | ||||||||||||||||||||
Pro forma disclosure for acquisitions | ||||||||||||||||||||
The following table presents the pro forma results of the acquisitions of Cytochroma and PROLOR for the years ended December 31, 2013 and 2012 as if those acquisitions had been completed as of the beginning of each period, respectively. | ||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | ||||||||||||||||||
Revenues | $ | 96,530 | $ | 53,595 | ||||||||||||||||
Loss from continuing operations | $ | — | $ | (63,479 | ) | |||||||||||||||
Net loss | $ | (147,546 | ) | $ | (55,663 | ) | ||||||||||||||
Net loss attributable to common shareholders | $ | (145,027 | ) | $ | (57,411 | ) | ||||||||||||||
Basic and diluted loss from continuing operations per share | $ | (0.37 | ) | $ | (0.15 | ) | ||||||||||||||
Basic and diluted loss from discontinuing operations per share | $ | — | $ | — | ||||||||||||||||
Basic and diluted loss per share | $ | (0.37 | ) | $ | (0.15 | ) | ||||||||||||||
The unaudited pro forma financial information is presented for information purposes only. The unaudited pro forma financial information may not necessarily reflect our future results of operations or what the results of operations would have been had we owned and operated each company as of the beginning of the period presented. | ||||||||||||||||||||
We incurred a pre-tax loss related to the activities of Cytochroma and PROLOR of $22.6 million and $13.2 million, respectively, from the date of our acquisitions through December 31, 2013. | ||||||||||||||||||||
Investments | ||||||||||||||||||||
The total assets, liabilities, and net losses of our equity method investees as of and for the year ended December 31, 2013 were $100.0 million, $39.2 million, and $75.1 million, respectively. The following table reflects our maximum exposure, accounting method, ownership interest and underlying equity in net assets of each of our unconsolidated investments as of December 31, 2013: | ||||||||||||||||||||
(Dollars in thousands, except per share prices) | Year | Accounting method | Ownership at | Investment | Underlying equity in net assets | Closing share price | ||||||||||||||
Investee name | invested | December 31, | at December 31, 2013 | |||||||||||||||||
2013 | for investments | |||||||||||||||||||
available for sale | ||||||||||||||||||||
Cocrystal | 2009 | Equity method | 16 | % | 2,500 | 205 | ||||||||||||||
Neovasc | 2011 | Equity method | 6 | % | 3,798 | 325 | ||||||||||||||
Fabrus | 2010 | VIE, equity method | 12 | % | 750 | (160 | ) | |||||||||||||
BZNE common stock | 2012 | VIE, equity method | 16 | % | 2,976 | (1,686 | ) | |||||||||||||
RXi | 2013 | Equity method | 19 | % | 15,000 | 2,444 | ||||||||||||||
Pharmsynthez | 2013 | Equity method | 11 | % | 5,036 | 5,156 | ||||||||||||||
Zebra | 2013 | VIE, equity method | 19 | % | 2,000 | 1,220 | ||||||||||||||
TESARO | 2010 | Investment available for sale | 1 | % | 56 | $ | 28.24 | |||||||||||||
Neovasc options | 2011 | Investment available for sale | N/A | 925 | CA | $ | 4.1 | |||||||||||||
ChromaDex | 2012 | Investment available for sale | 1 | % | 1,320 | $ | 1.52 | |||||||||||||
ARNO | 2013 | Investment available for sale | 5 | % | 2,000 | $ | 3.2 | |||||||||||||
Plus unrealized/realized gains on investments, options and warrants, net | 12,766 | |||||||||||||||||||
Less accumulated losses in investees | (18,474 | ) | ||||||||||||||||||
Total carrying value of equity method investees and investments, available for sale | $ | 30,653 | ||||||||||||||||||
ARNO | ||||||||||||||||||||
In October 2013, we made an investment in ARNO Therapeutics, Inc. (“ARNO”), a clinical stage company focused on the development of oncology drugs. We invested $2.0 million and received 833,333 ARNO common shares, one year warrants to purchase 833,333 ARNO common shares for $2.40 a share and five year warrants to purchase an additional 833,333 ARNO common shares for $4.00 a share. Our investment was part of a private placement by ARNO. Other investors participating in the private financing included certain related parties. Refer to Note 12. We have determined that our ownership, along with that of our related parties, does not provide us with significant influence over the operations of ARNO and as a result, we account for ARNO as an investment, available for sale, and we record changes in the fair value of ARNO as an unrealized gain or loss in Other comprehensive loss each reporting period. We recorded the warrants on the date of the grant at their estimated fair value of $3.6 million using the Black-Scholes-Merton Model. We record changes in fair value of ARNO warrants in Other income (expense), net in our Consolidated Statement of Operations. | ||||||||||||||||||||
Pharmsynthez transactions | ||||||||||||||||||||
In April 2013, we entered into a series of concurrent transactions with Pharmsynthez, a Russian pharmaceutical company traded on the Moscow Stock Exchange. In connection with the transactions: | ||||||||||||||||||||
•We delivered approximately $9.6 million to Pharmsynthez. | ||||||||||||||||||||
•Pharmsynthez issued to us approximately 13.6 million of its common shares. | ||||||||||||||||||||
•We granted rights to certain technologies in the Russian Federation, Ukraine, Belarus, Azerbaijan and Kazakhstan (the “Territories”) to Pharmsynthez. Pharmsynthez agreed, at its option, to issue approximately 12.0 million common shares to us or to pay us Russian Rubles (“RUR”) 265.0 million ($8.1 million) (the “Pharmsynthez Note Receivable”). We received the shares on January 28, 2014. | ||||||||||||||||||||
• We had a right to purchase additional shares in Pharmsynthez at a fixed price if Pharmsynthez were to pay us in cash rather than delivering to us the 12.0 million Pharmsynthez common shares (the “Purchase Option”). | ||||||||||||||||||||
•We will receive from Pharmsynthez a royalty on net sales of products incorporating the technologies in the Territories, as well as a percentage of any sublicense income from third parties for the technologies in the Territories. | ||||||||||||||||||||
•Pharmsynthez agreed to pay us $9.5 million under the various collaboration and funding agreements for the development of the technologies (the “Collaboration Payments”). | ||||||||||||||||||||
We recorded the initial shares received in Pharmsynthez as an equity method investment. We recorded the Pharmsynthez Note Receivable, and the Purchase Option, as financial instruments and elected the fair value option for subsequent measurement. Changes in the fair value of the receivable from Pharmsynthez for its common stock or RUR, with the embedded derivative, and the Purchase Option are recorded in Fair value changes of derivative instruments, net in our Consolidated Statements of Operations for the year ended December 31, 2013. | ||||||||||||||||||||
We have accounted for the license and development activities as a multi-element arrangement, and allocated the total arrangement consideration based on the relative selling prices of the elements. We will record the allocated consideration for development activities as an offset to Research and development expenses over the three-year term of the Collaboration Payments. We will record revenue in connection with the grant of rights to the technologies proportionately as the payments are received. | ||||||||||||||||||||
During the year ended December 31, 2013, no payments were received for the Pharmsynthez Notes Receivable. During the year ended December 31, 2013, we received $8.2 million, related to the Collaboration Payments of which we recorded $3.8 million in Revenue from transfer of intellectual property and $1.1 million as an offset to Research and development expenses in our Consolidated Statements of Operations for the year ended December 31, 2013. In January 2014, Pharmsynthez delivered to us approximately twelve million shares of its common stock in satisfaction of the Pharmsynthez Notes Receivable. | ||||||||||||||||||||
RXi transactions | ||||||||||||||||||||
In March 2013, we completed the sale to RXi of substantially all of our assets in the field of RNA interference (the “RNAi Assets”) (collectively, the “Asset Purchase Agreement”). As consideration for the RNAi Assets, at the closing of the Asset Purchase Agreement, RXi issued to us 50 million shares of its common stock (the “APA Shares”). In accounting for the sale of the RNAi Assets, we determined that we did not have any continuing involvement in the development of the RNAi Assets or any other future performance obligations and, as a result, during the year ended December 31, 2013, we recognized the APA Shares as $12.5 million of revenue from transfer of intellectual property in our Consolidated Statement of Operations. | ||||||||||||||||||||
Pursuant to the Asset Purchase Agreement, RXi will be required to pay us up to $50.0 million in milestone payments upon the successful development and commercialization of each drug developed by RXi, certain of its affiliates or any of its or their licensees or sublicensees utilizing patents included within the RNAi Assets (each, a “Qualified Drug”). In addition, RXi will also be required to pay us royalties equal to: (a) a mid single-digit percentage of “Net Sales” (as defined in the Asset Purchase Agreement) with respect to each Qualified Drug sold for an ophthalmologic use during the applicable “Royalty Period” (as defined in the Asset Purchase Agreement); and (b) a low single-digit percentage of net sales with respect to each Qualified Drug sold for a non-ophthalmologic use during the applicable royalty period. | ||||||||||||||||||||
In addition to the Asset Purchase Agreement, we purchased 17,241,380 shares of RXi, for $2.5 million, as part of a $16.4 million financing for RXi, which included other related parties. We have determined that our ownership, along with that of our related parties, provides us the ability to exercise significant influence over RXi operations and as such we have accounted for our investment in RXi under the equity method. | ||||||||||||||||||||
Chromadex | ||||||||||||||||||||
In February 2012, we made a $1.0 million investment in ChromaDex Corporation (“ChromaDex”), a publicly-traded company and leading provider of proprietary ingredients and products for the dietary supplement, nutraceutical, food and beverage, functional food, pharmaceutical and cosmetic markets, in exchange for 1,333,333 shares of ChromaDex common stock, at $0.75 per share. In connection with our investment, we also entered into a license, supply and distribution agreement with ChromaDex pursuant to which we obtained exclusive distribution rights to certain of its products in Latin America. Our investment was part of a $3.7 million private placement by ChromaDex. Other investors participating in the private financing included certain related parties. Refer to Note 12. In connection with a consulting agreement with ChromaDex, we received 500,000 shares of ChromaDex to provide certain consulting services. | ||||||||||||||||||||
We have determined that our ownership, along with that of our related parties, does not provide us with significant influence over the operations of ChromaDex and as a result, we account for ChromaDex as an investment, available for sale, and we record changes in the fair value of ChromaDex as an unrealized gain or loss in Other comprehensive loss each reporting period. Refer to Note 18. | ||||||||||||||||||||
Neovasc | ||||||||||||||||||||
In August 2011, we made an investment in Neovasc, a medical technology company based in Vancouver, Canada, a Canadian publicly-traded company. Neovasc is developing devices to treat cardiovascular diseases and is also a leading supplier of tissue components for the manufacturers of replacement heart valves. We invested $2.0 million and received two million Neovasc common shares, and two-year warrants to purchase an additional one million shares for $1.25 a share. We recorded the warrants on the date of the grant at their estimated fair value of $0.7 million using the Black-Scholes-Merton Model. Prior to the warrants being readily convertible into cash, we recorded an unrealized gain of $0.2 million in Other comprehensive loss. During the year ended December 31, 2013, we exercised the warrants and paid $1.2 million.We record changes in fair value for the Neovasc warrants in Fair value changes of derivatives instruments, net in our Consolidated Statements of Operations. We also entered into an agreement with Neovasc to provide strategic advisory services to Neovasc as it continues to develop and commercialize its novel cardiac devices. In connection with the consulting agreement, Neovasc granted us 913,750 common stock options. The options were granted at (Canadian) $1.00 per share and vest annually over three years. We valued the options using the Black-Scholes-Merton Model at $0.8 million on the date of grant and will recognize the revenue over four years as Other revenue. In August 2012, Neovasc granted us an additional 86,250 common stock options. The options were granted at (Canadian) $1.30 per share and vested immediately. We valued the options using the Black-Scholes-Merton Model at $0.1 million on the date of grant and will recognize the revenue over three years as Revenue from services. We record changes in the fair value of Neovasc options as an unrealized gain or loss in Other comprehensive loss each reporting period. Refer to Note 18. | ||||||||||||||||||||
TESARO | ||||||||||||||||||||
In December 2010, we entered into a license agreement with TESARO, Inc. (“TESARO”) granting TESARO exclusive rights to the development, manufacture, commercialization and distribution of rolapitant and a related compound (the “TESARO License”). Under the terms of the TESARO License, we are eligible for payments of up to $121.0 million, including an up-front payment of $6.0 million, which has been received, and additional payments based upon achievement of specified regulatory and commercialization milestones. In addition, TESARO will pay us double digit tiered royalties on sales of licensed products. We will share future profits from the commercialization of licensed products in Japan with TESARO and we will have an option to market the products in Latin America. In connection with the TESARO License, we also acquired an equity position in TESARO. We recorded the equity position at $0.7 million, the estimated fair value based on a discounted cash flow model. | ||||||||||||||||||||
Neither we nor our related parties have the ability to significantly influence TESARO and as such, we accounted for our investment in TESARO under the cost method until June 2012 on which date, TESARO had an initial public offering. As a result of the initial public offering, we determined TESARO had a readily determinable fair value and we changed the accounting for our investment in TESARO from a cost method investment to an investment, available for sale. We record changes in the fair value as an unrealized gain or loss in Other comprehensive loss and determine the cost using the specific identification method. Refer to Note 18. | ||||||||||||||||||||
Cocrystal | ||||||||||||||||||||
In September 2009, we entered into an agreement pursuant to which we invested $2.5 million in cash in Cocrystal Discovery, Inc. (“Cocrystal”), a privately-held biopharmaceutical company in exchange for 1,701,723 shares of Cocrystal’s Convertible Series A Preferred Stock. Cocrystal is focused on the discovery and development of novel antiviral drugs using a combination of protein structure-based approaches. Refer to Note 12. In October 2011, Cocrystal received an investment of $7.5 million from Teva Pharmaceutical Industries Ltd. (“Teva”). Dr. Phillip Frost, our Chief Executive Officer and Chairman of our Board of Directors, is Chairman of the Board of Directors of Teva. In connection with that investment, we determined Cocrystal no longer meets the definition of a variable interest entity as it had sufficient capital to carry out its principal activities without additional financial support. As a result of our and our related parties’ ownership interest, we and our related parties have the ability to significantly influence Cocrystal, and we account for our investment under the equity method. On January 3, 2014, Cocrystal completed a merger with Biozone Pharmaceuticals, Inc. (“BZNE”), another entity in which we have an equity investment. In connection with the Merger Agreement, BZNE issued to Cocrystal’s security holders 1,000,000 shares of BZNE Series B Convertible Preferred Stock (“Series B”). The Series B shares: (i) automatically convert into shares of BZNE’s common stock at a rate of 205.0831 shares for each share of Series B at such time that BZNE has sufficient authorized capital, (ii) are entitled to vote on all matters submitted to shareholders of BZNE and vote on an as converted basis and (iii) have a nominal liquidation preference. | ||||||||||||||||||||
Sorrento | ||||||||||||||||||||
In June 2009, we entered into a stock purchase agreement with Sorrento Therapeutics, Inc. (“Sorrento”), a publicly-held company with a technology for generating fully human monoclonal antibodies, pursuant to which we invested $2.3 million in Sorrento. Refer to Note 12. In December 2013, we completed the sale of our stake in Sorrento and recorded a gain on the sale of $17.2 million and other income of $2.7 million related to an early termination fee under a license agreement with Sorrento. | ||||||||||||||||||||
Investments in variable interest entities | ||||||||||||||||||||
We have determined that we hold variable interests in Fabrus, Inc. (“Fabrus”), BZNE, SciVac Ltd (“SciVac”), previously known as SciGen (I.L.) Ltd, and Zebra Biologics, Inc. (“Zebra”). We made this determination as a result of our assessment that they do not have sufficient resources to carry out their principal activities without additional financial support. | ||||||||||||||||||||
In October 2013, we acquired 840,000 shares of Zebra Series A-2 Preferred Stock for $2.0 million. In connection with the transactions, Dr. Frost also gifted to OPKO 900,000 shares of Zebra restricted common stock which he had received as a founding member of Zebra. Zebra is a privately held biotechnology company focused on the discovery and development of biosuperior antibody therapeutics and complex drugs. After the closing on October 29, 2013, OPKO owns 23.5% of the Series A-2 Preferred stock issued and outstanding of Zebra. Dr. Richard Lerner, M.D., a member of our Board of Directors, is a founder of Zebra and, along with Dr. Frost, serves as a member of Zebra’s Board of Directors. | ||||||||||||||||||||
In order to determine the primary beneficiary of Zebra, we evaluated our investment and our related parties’ investment, as well as our investment combined with the related party group’s investment to identify if we had the power to direct the activities that most significantly impact the economic performance of Zebra. We determined that we do not have the power to direct the activities that most significantly impact Zebra’s economic performance. Based on the capital structure, governing documents and overall business operations of Zebra, we determined that, while a VIE, we do not have the power to direct the activities that most significantly impact Zebra’s economic performance. We did determine, however, that we can significantly influence the success of Zebra through our board representation and voting power. Accordingly, as we have the ability to exercise significant influence over Zebra’s operations, we account for our investment in Zebra under the equity method. | ||||||||||||||||||||
In February 2012, we purchased from Biozone Pharmaceuticals, Inc., a publicly-traded company that specializes in drug development, manufacturing, and marketing (“BZNE”), $1.7 million of 10% secured convertible promissory notes (the “BZNE Notes”), convertible into BZNE common stock at a price equal to $0.20 per common share, which BZNE Notes are due and payable on February 24, 2014 and ten year warrants (the “BZNE Warrants”) to purchase 8.5 million shares of BZNE common stock at an exercise price of $0.40 per share. In December 2013, we converted the BZNE Notes into approximately 10 million shares of BZNE common stock. In July 2012, we exercised the BZNE Warrants utilizing the net exercise feature and received approximately 7.7 million shares of BZNE common stock. The BZNE Notes were secured pursuant to a security agreement by a first priority lien in the assets of BZNE, including the stock of its subsidiaries. We also entered into a license agreement pursuant to which we acquired a world-wide license for the development and commercialization of products utilizing BZNE’s proprietary drug delivery technology, including a technology called QuSomes, exclusively for OPKO in the field of ophthalmology and non-exclusive for all other therapeutic fields, subject in each case to certain excluded products. | ||||||||||||||||||||
On January 2, 2014, BZNE sold substantially all of its operating assets, including its QuSomes technology, to MusclePharm Corporation (OTCQB: MSLP), an international, award-winning sports nutrition company (“Musclepharm”) | ||||||||||||||||||||
in exchange for 1.2 million shares of Musclepharm’s common stock. Of the 1.2 million shares issued under the Agreement, (i) 0.6 million of the shares were issued to BZNE upon closing and (ii) 0.6 million of the shares (the “Escrowed Shares”) were placed in escrow for nine months from the date of closing (the “Escrow Period”). During the Escrow Period, Musclepharm will have the option to purchase the Escrowed Shares at $10.00 per share in cash. The Escrowed Shares will also back-stop potential indemnification claims that Musclepharm may have under the Agreement. Effective January 3, 2014, BZNE completed a merger with Cocrystal, another entity in which we have an equity investment. In connection with the merger, BZNE issued to Cocrystal’s security holders 1,000,000 shares of BZNE Series B Convertible Preferred Stock (“Series B”). The Series B shares: (i) automatically convert into shares of BZNE’s common stock at a rate of 205.08308640 shares for each share of Series B at such time that BZNE has sufficient authorized capital, (ii) are entitled to vote on all matters submitted to shareholders of BZNE and vote on an as converted basis and (iii) have a nominal liquidation preference. Refer to Note 12. | ||||||||||||||||||||
Upon the conversion of the BZNE Notes and BZNE Warrants to BZNE common stock, we account for the BZNE common stock as an equity method investment. Until the conversion of the BZNE Notes and BZNE warrants into shares of BZNE common stock, we recorded (i) changes in fair value for the BZNE Notes as an unrealized gain or loss in Other comprehensive loss for each reporting period, and (ii) changes in fair value for the beneficial conversion feature of the BZNE Notes in Other income (expense), net in our Consolidated Statements of Operations. Refer to Note 18. | ||||||||||||||||||||
In order to determine the primary beneficiary of BZNE, we evaluated our investment and our related parties’ investments, as well as our investment combined with the related party group’s investments to identify if we had the power to direct the activities that most significantly impact the economic performance of BZNE. We determined that power to direct the activities that most significantly impact BZNE’s economic performance is conveyed through the board of directors of BZNE and no entity is able to appoint the BZNE governing body that oversees its executive management team. Based on the capital structure, governing documents and overall business operations of BZNE, we determined that, while a VIE, no single entity has the power to direct the activities that most significantly impact BZNE’s economic performance. However, we determined that we and our related parties can significantly influence the success of BZNE through our voting power. As such, we account for investment in BZNE under the equity method. | ||||||||||||||||||||
In November 2010, we made a $0.7 million investment in Fabrus, Inc. (“Fabrus”), a privately-held early stage biotechnology company with next generation therapeutic antibody drug discovery and development capabilities. Fabrus is using its proprietary antibody screening and engineering approach to discover promising lead compounds against several important oncology targets. Our investment was part of a $2.1 million financing for Fabrus and included other related parties. Refer to Note 12. | ||||||||||||||||||||
In order to determine the primary beneficiary of Fabrus, we evaluated our investment and our related parties’ investment, as well as our investment combined with the related party group’s investment to identify if we had the power to direct the activities that most significantly impact the economic performance of Fabrus. We determined that power to direct the activities that most significantly impact Fabrus’s economic performance is conveyed through the board of directors of Fabrus as no entity is able to appoint the Fabrus governing body that oversees its executive management team. Based on the capital structure, governing documents and overall business operations of Fabrus, we determined that, while a VIE, no single entity has the power to direct the activities that most significantly impact Fabrus’s economic performance. We did determine, however, that our related parties can significantly influence the success of Fabrus through our board representation and voting power. Accordingly, as we and our related parties have the ability to exercise significant influence over Fabrus’ operations, we account for our investment in Fabrus under the equity method. | ||||||||||||||||||||
Consolidated variable interest entities | ||||||||||||||||||||
In June 2012, we entered into a share and debt purchase agreement whereby in exchange for $0.7 million we acquired shares representing a 45% stock ownership in SciVac from FDS Pharma LLP (“FDS”). SciVac is a privately-held Israeli company that produces a third-generation hepatitis B-vaccine. In November 2012 and during the year ended December 31, 2013, we loaned to SciVac a combined $1.8 million for working capital purposes. We have determined that we hold variable interests in SciVac based on our assessment that SciVac does not have sufficient resources to carry out its principal activities without financial support. In order to determine the fair market value of our investment in SciVac, we have utilized a business enterprise valuation approach. | ||||||||||||||||||||
In order to determine the primary beneficiary of SciVac, we evaluated our investment to identify if we had the power to direct the activities that most significantly impact the economic performance of SciVac. We have determined that the power to direct the activities that most significantly impact the economic performance of SciVac is conveyed through SciVac’s board of directors. SciVac’s board of directors appoint and oversee SciVac’s management team who carry out the activities that most significantly impact the economic performance of SciVac. As part of the share and debt purchase agreement, SciVac’s board of directors is constituted by 5 members, of which 3 members will be appointed by us, representing 60% of SciVac’s board. Based on this analysis, we determined that we have the power to direct the activities of SciVac and as such we are the primary beneficiary. As a result of this conclusion, we have consolidated the results of operations and financial position of SciVac and recorded a reduction of equity for the portion of SciVac we do not own. | ||||||||||||||||||||
The following table represents the consolidated assets and non-recourse liabilities related to SciVac as of December 31, 2013 and 2012. These assets are owned by, and these liabilities are obligations of, SciVac, not us. | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | 174 | ||||||||||||||||
Accounts receivable, net | 283 | 387 | ||||||||||||||||||
Inventories, net | 1,696 | 1,092 | ||||||||||||||||||
Prepaid expenses and other current assets | 218 | 199 | ||||||||||||||||||
Total current assets | 2,199 | 1,852 | ||||||||||||||||||
Property, plant and equipment, net | 1,374 | 1,539 | ||||||||||||||||||
Intangible assets, net | 1,111 | 1,154 | ||||||||||||||||||
Goodwill | 1,821 | 796 | ||||||||||||||||||
Other assets | 261 | 231 | ||||||||||||||||||
Total assets | $ | 6,766 | $ | 5,572 | ||||||||||||||||
Liabilities | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 1,136 | $ | 1,108 | ||||||||||||||||
Accrued expenses | 6,498 | 2,859 | ||||||||||||||||||
Notes payable | 1,537 | — | ||||||||||||||||||
Total current liabilities | 9,171 | 3,967 | ||||||||||||||||||
Other long-term liabilities | 1,240 | 1,529 | ||||||||||||||||||
Total liabilities | $ | 10,411 | $ | 5,496 | ||||||||||||||||
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||
Discontinued Operations | ' | |||||||
Discontinued Operations | ||||||||
In September 2011, we announced that we entered into an agreement with Optos, Inc., a subsidiary of Optos plc (collectively “Optos”) to sell our ophthalmic instrumentation business. Upon closing in October 2011, we received $17.5 million of cash and we are eligible to receive royalties up to $22.5 million on future sales. | ||||||||
On or around October 30, 2012, we received a letter from counsel to Optos making certain indemnity claims against us in connection with the sale of our instrumentation business. In October 2013, we entered into a settlement agreement with Optos that resulted in payments to us and resolved all pending claims between the parties, including a termination of future royalty obligations from Optos to us. | ||||||||
The following table presents summarized financial information for the discontinued operations presented in the Consolidated Statements of Operations for 2012 and 2011. There were no discontinued operations in 2013: | ||||||||
For the years ended December 31 | ||||||||
(In thousands) | 2012 | 2011 | ||||||
Total revenue | $ | — | $ | 4,254 | ||||
Operating income (loss) | 177 | (3,434 | ) | |||||
Gain on sale to Optos | — | 10,597 | ||||||
Income before provision for income taxes | 177 | 7,142 | ||||||
Net income | $ | 109 | $ | 5,181 | ||||
The net income from discontinued operations for the year ended December 31, 2012 primarily represents collection of an accounts receivable balance retained as part of the sale to Optos. |
Composition_of_Certain_Financi
Composition of Certain Financial Statement Captions | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Compositions of Certain Financial Statement Captions [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Composition of Certain Financial Statement Captions | ' | |||||||||||||||||||||||||||||||||||
Composition of Certain Financial Statement Captions | ||||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Accounts receivable, net: | ||||||||||||||||||||||||||||||||||||
Accounts receivable | $ | 21,652 | $ | 21,636 | ||||||||||||||||||||||||||||||||
Less: allowance for doubtful accounts | (1,885 | ) | (474 | ) | ||||||||||||||||||||||||||||||||
$ | 19,767 | $ | 21,162 | |||||||||||||||||||||||||||||||||
Inventories, net: | ||||||||||||||||||||||||||||||||||||
Finished products | $ | 13,374 | $ | 17,963 | ||||||||||||||||||||||||||||||||
Work in-process | 1,350 | 688 | ||||||||||||||||||||||||||||||||||
Raw materials | 4,132 | 4,923 | ||||||||||||||||||||||||||||||||||
Less: inventory reserve | (777 | ) | (1,313 | ) | ||||||||||||||||||||||||||||||||
$ | 18,079 | $ | 22,261 | |||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets: | ||||||||||||||||||||||||||||||||||||
Prepaid supplies | $ | 945 | $ | 443 | ||||||||||||||||||||||||||||||||
Prepaid insurance | 892 | 301 | ||||||||||||||||||||||||||||||||||
Pharmsynthez Note Receivable and Purchase Option | 6,151 | — | ||||||||||||||||||||||||||||||||||
Other receivables | 1,985 | 886 | ||||||||||||||||||||||||||||||||||
Taxes recoverable | 3,458 | 1,493 | ||||||||||||||||||||||||||||||||||
Other | 5,653 | 4,750 | ||||||||||||||||||||||||||||||||||
$ | 19,084 | $ | 7,873 | |||||||||||||||||||||||||||||||||
Property and equipment, net: | ||||||||||||||||||||||||||||||||||||
Machinery and equipment | $ | 11,656 | $ | 7,984 | ||||||||||||||||||||||||||||||||
Building | 3,615 | 3,457 | ||||||||||||||||||||||||||||||||||
Land | 2,666 | 2,619 | ||||||||||||||||||||||||||||||||||
Furniture and fixtures | 2,051 | 1,908 | ||||||||||||||||||||||||||||||||||
Software | 807 | 853 | ||||||||||||||||||||||||||||||||||
Leasehold improvements | 3,107 | 2,616 | ||||||||||||||||||||||||||||||||||
Construction in process | 489 | — | ||||||||||||||||||||||||||||||||||
Less: accumulated depreciation | (7,364 | ) | (3,732 | ) | ||||||||||||||||||||||||||||||||
$ | 17,027 | $ | 15,705 | |||||||||||||||||||||||||||||||||
Investment properties, net: | ||||||||||||||||||||||||||||||||||||
Building | $ | — | $ | 384 | ||||||||||||||||||||||||||||||||
Land | — | 450 | ||||||||||||||||||||||||||||||||||
Less: accumulated depreciation | — | (13 | ) | |||||||||||||||||||||||||||||||||
$ | — | $ | 821 | |||||||||||||||||||||||||||||||||
Intangible assets, net: | ||||||||||||||||||||||||||||||||||||
Technologies | $ | 51,660 | $ | 52,810 | ||||||||||||||||||||||||||||||||
Customer relationships | 22,725 | 23,088 | ||||||||||||||||||||||||||||||||||
Product registrations | 9,692 | 9,637 | ||||||||||||||||||||||||||||||||||
Tradenames | 3,669 | 3,746 | ||||||||||||||||||||||||||||||||||
Covenants not to compete | 8,671 | 8,662 | ||||||||||||||||||||||||||||||||||
Other | 2,519 | 367 | ||||||||||||||||||||||||||||||||||
Less: accumulated amortization | (24,403 | ) | (14,072 | ) | ||||||||||||||||||||||||||||||||
$ | 74,533 | $ | 84,238 | |||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Accrued expenses: | ||||||||||||||||||||||||||||||||||||
Taxes payable | $ | 702 | $ | 1,614 | ||||||||||||||||||||||||||||||||
Deferred revenue | 7,639 | 1,518 | ||||||||||||||||||||||||||||||||||
Clinical trials | 3,342 | 50 | ||||||||||||||||||||||||||||||||||
Professional fees | 402 | 675 | ||||||||||||||||||||||||||||||||||
Employee benefits | 4,399 | 3,319 | ||||||||||||||||||||||||||||||||||
Deferred acquisition payments, net of discount | 5,465 | 6,172 | ||||||||||||||||||||||||||||||||||
Contingent consideration | 28,047 | 5,126 | ||||||||||||||||||||||||||||||||||
Interest payable related to the Notes | — | — | ||||||||||||||||||||||||||||||||||
Other | 15,878 | 6,182 | ||||||||||||||||||||||||||||||||||
$ | 65,874 | $ | 24,656 | |||||||||||||||||||||||||||||||||
Other long-term liabilities: | ||||||||||||||||||||||||||||||||||||
Contingent consideration – Cytochroma | $ | 34,401 | $ | — | ||||||||||||||||||||||||||||||||
Contingent consideration – Farmadiet | 504 | 532 | ||||||||||||||||||||||||||||||||||
Contingent consideration – OPKO Diagnostics | 8,340 | 11,310 | ||||||||||||||||||||||||||||||||||
Contingent consideration – FineTech | — | 2,578 | ||||||||||||||||||||||||||||||||||
Contingent consideration – CURNA | 316 | 510 | ||||||||||||||||||||||||||||||||||
Deferred acquisition payments, net of discount | — | 3,931 | ||||||||||||||||||||||||||||||||||
Mortgages and other debts payable | 3,270 | 5,150 | ||||||||||||||||||||||||||||||||||
Deferred tax liabilities | 166,435 | 9,777 | ||||||||||||||||||||||||||||||||||
Other, including deferred revenue | 1,509 | 380 | ||||||||||||||||||||||||||||||||||
$ | 214,775 | $ | 34,168 | |||||||||||||||||||||||||||||||||
The following table summarizes the fair values assigned to our major intangible asset classes upon each acquisition: | ||||||||||||||||||||||||||||||||||||
(In thousands) | Technology | In-process research and development | Customer relationships | Product registrations | Covenants not to compete | Tradename | Other | Total identified intangible assets | Goodwill | |||||||||||||||||||||||||||
OPKO | $ | — | $ | — | $ | 3,945 | $ | 5,829 | $ | — | $ | 1,032 | $ | — | $ | 10,806 | $ | 5,441 | ||||||||||||||||||
Chile(1) | ||||||||||||||||||||||||||||||||||||
Exakta | — | — | 121 | 77 | 70 | 77 | — | 345 | 21 | |||||||||||||||||||||||||||
OPKO | ||||||||||||||||||||||||||||||||||||
CURNA | — | 10,000 | — | — | — | — | 290 | 10,290 | 4,827 | |||||||||||||||||||||||||||
OPKO Diagnostics | 44,400 | — | — | — | — | — | — | 44,400 | 17,977 | |||||||||||||||||||||||||||
FineTech | 2,700 | — | 14,200 | — | 1,500 | 400 | — | 18,800 | 11,623 | |||||||||||||||||||||||||||
Farmadiet | 3,017 | 1,459 | 436 | 2,930 | 187 | 349 | — | 8,378 | 8,062 | |||||||||||||||||||||||||||
OPKO Lab | 1,370 | — | 3,860 | — | 6,900 | 1,830 | 70 | 14,030 | 29,629 | |||||||||||||||||||||||||||
SciVac | 1,090 | — | 40 | — | — | — | — | 1,130 | 760 | |||||||||||||||||||||||||||
OPKO Brazil | — | — | — | — | — | — | 686 | 686 | — | |||||||||||||||||||||||||||
Cytochroma | — | 191,530 | — | — | — | — | 210 | 191,740 | 2,411 | |||||||||||||||||||||||||||
PROLOR | — | 590,200 | — | — | — | — | — | 590,200 | 139,784 | |||||||||||||||||||||||||||
Weighted average amortization period | 9 years | Indefinite | 6 years | 9 years | 5 years | 4 years | 4 years | Indefinite | ||||||||||||||||||||||||||||
-1 | Includes intangible assets and goodwill related to ALS acquisition. | |||||||||||||||||||||||||||||||||||
All of the intangible assets and goodwill acquired relate to our acquisitions of OPKO Chile, including the intangibles assets and goodwill related to the ALS acquisition, Exakta-OPKO, CURNA, OPKO Diagnostics, FineTech, Farmadiet, OPKO Lab, Cytochroma and PROLOR. The pharmaceutical, nutraceutical and veterinary products from ALS and Farmadiet do not require ongoing product renewals. We do not anticipate capitalizing the cost of product registration renewals, rather we expect to expense these costs, as incurred. Our goodwill is not tax deductible for income tax purposes in the U.S., Chile, Canada, Spain, or Israel. | ||||||||||||||||||||||||||||||||||||
At December 31, 2013, the changes in value of the intangible assets and goodwill are primarily due to the acquisitions of OPKO Brazil, Cytochroma and PROLOR, as well as the foreign currency fluctuations between the Chilean and Mexican pesos, the Brazilian Reals, the Euro and the Shekel against the U.S. dollar. At December 31, 2012, the changes in value of the intangible assets and goodwill were primarily due to the acquisitions of ALS, Farmadiet, and OPKO Lab, as well as the foreign currency fluctuations between the Chilean and Mexican pesos, the Euro and the Shekel against the U.S. dollar. The purchase price allocation of the assets acquired in the Cytochroma and PROLOR acquisitions are subject to change while contingencies that existed on the acquisition dates are resolved. | ||||||||||||||||||||||||||||||||||||
The following table reflects the changes in the allowance for doubtful accounts, provision for inventory reserve and tax valuation allowance accounts for continuing operations: | ||||||||||||||||||||||||||||||||||||
(In thousands) | Beginning | Charged | Written-off | Charged | Ending | |||||||||||||||||||||||||||||||
balance | to | to other | balance | |||||||||||||||||||||||||||||||||
expense | ||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | (474 | ) | (979 | ) | 28 | (459 | ) | $ | (1,884 | ) | |||||||||||||||||||||||||
Inventory reserve | $ | (1,313 | ) | (2,015 | ) | 2,188 | 363 | $ | (777 | ) | ||||||||||||||||||||||||||
Tax valuation allowance | $ | (59,145 | ) | (1,148 | ) | — | (25,077 | ) | $ | (85,370 | ) | |||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | (440 | ) | (86 | ) | 86 | (34 | ) | $ | (474 | ) | |||||||||||||||||||||||||
Inventory reserve | $ | (325 | ) | (2,544 | ) | 1,582 | (26 | ) | $ | (1,313 | ) | |||||||||||||||||||||||||
Tax valuation allowance | $ | (53,255 | ) | 9,626 | — | (15,516 | ) | $ | (59,145 | ) | ||||||||||||||||||||||||||
The following table summarizes the changes in Goodwill. | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
(In thousands) | Balance at January 1 | Acquisitions | Foreign exchange, other | Balance at December 31 | Balance at January 1 | Acquisitions | Foreign exchange, other | Balance at December 31 | ||||||||||||||||||||||||||||
Pharmaceuticals | ||||||||||||||||||||||||||||||||||||
CURNA | $ | 4,827 | $ | — | $ | — | $ | 4,827 | $ | 4,827 | $ | — | $ | — | $ | 4,827 | ||||||||||||||||||||
Mexico | 114 | — | — | 113 | 106 | — | 8 | 114 | ||||||||||||||||||||||||||||
Chile | 6,697 | — | (594 | ) | 6,102 | 5,282 | — | 1,415 | 6,697 | |||||||||||||||||||||||||||
Pharmadiet | 8,712 | — | 363 | 9,075 | — | 8,313 | 399 | 8,712 | ||||||||||||||||||||||||||||
Finetech | 11,698 | — | — | 11,698 | 11,623 | — | 74 | 11,698 | ||||||||||||||||||||||||||||
SciGen | 796 | — | 943 | 1,740 | — | 796 | — | 796 | ||||||||||||||||||||||||||||
Cytochroma | — | 2,411 | (342 | ) | 2,069 | — | — | — | — | |||||||||||||||||||||||||||
Prolor | — | 139,784 | — | 139,784 | — | — | — | — | ||||||||||||||||||||||||||||
Diagnostics | ||||||||||||||||||||||||||||||||||||
Claros | 17,977 | — | — | 17,977 | 17,977 | — | — | 17,977 | ||||||||||||||||||||||||||||
OPKO Lab | 29,629 | — | 3,359 | 32,988 | — | 29,629 | — | 29,629 | ||||||||||||||||||||||||||||
$ | 80,450 | $ | 142,195 | $ | 3,729 | $ | 226,373 | $ | 39,815 | $ | 38,739 | $ | 1,896 | $ | 80,450 | |||||||||||||||||||||
Debt
Debt | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||||
Debt | ' | |||||||||||||||
Debt | ||||||||||||||||
The following table sets forth information related to the 3.00% convertible senior notes which are included in our Consolidated Balance Sheets: | ||||||||||||||||
(In thousands) | Embedded conversion option | 2033 Senior Notes | Discount | Total | ||||||||||||
Balance at December 31, 2012 | $ | — | $ | — | $ | — | $ | — | ||||||||
Issuance of 3.00% convertible notes | 59,204 | 175,000 | (59,204 | ) | 175,000 | |||||||||||
Amortization of debt discount | — | — | 6,596 | 6,596 | ||||||||||||
Change in fair value of embedded derivative | 43,082 | — | — | 43,082 | ||||||||||||
Conversion | (1,199 | ) | (16,936 | ) | 5,369 | (12,766 | ) | |||||||||
Balance at December 31, 2013 | $ | 101,087 | $ | 158,064 | $ | (47,239 | ) | $ | 211,912 | |||||||
In January 2013, we entered into note purchase agreements (the “2033 Senior Notes”) with qualified institutional buyers and accredited investors (collectively the “Purchaser”) in a private placement in reliance on exemptions from registration under the Securities Act of 1933, (the “Securities Act”). The Purchasers of the 2033 Senior Notes include Frost Gamma Investments Trust, a trust affiliated with Dr. Frost, and Hsu Gamma Investment, L.P., an entity affiliated with Dr. Hsiao. The 2033 Senior Notes were issued on January 30, 2013. The 2033 Senior Notes, which total $175.0 million, bear interest at the rate of 3.00% per year, payable semiannually on February 1 and August 1 of each year, beginning August 1, 2013. The 2033 Senior Notes will mature on February 1, 2033, unless earlier repurchased, redeemed or converted. Upon a fundamental change as defined in the instruments governing the 2033 Senior Notes, subject to certain exceptions, the holders may require us to repurchase all or any portion of their 2033 Senior Notes for cash at a repurchase price equal to 100% of the principal amount of the 2033 Senior Notes being repurchased, plus any accrued and unpaid interest to but not including the fundamental change repurchase date. | ||||||||||||||||
The 2033 Senior Notes will be convertible at any time on or after November 1, 2032, through the second scheduled trading day immediately preceding the maturity date, at the option of the holders. Additionally, holders may convert their 2033 Senior Notes prior to the close of business on the scheduled trading day immediately preceding November 1, 2032, under the following circumstances: (1) conversion based upon satisfaction of the trading price condition relating to the 2033 Senior Notes; (2) conversion based on the Common Stock price; (3) conversion based upon the occurrence of specified corporate events; or (4) if we call the 2033 Senior Notes for redemption. The 2033 Senior Notes will be convertible into cash, shares of our Common Stock, or a combination of cash and shares of Common Stock, at our election unless we have made an irrevocable election of net share settlement. The initial conversion rate for the 2033 Senior Notes will be 141.4827 shares of Common Stock per $1,000 principal amount of 2033 Senior Notes (equivalent to an initial conversion price of approximately $7.07 per share of Common Stock), and will be subject to adjustment upon the occurrence of certain events. In addition, we will, in certain circumstances, increase the conversion rate for holders who convert their 2033 Senior Notes in connection with a make-whole fundamental change (as defined in the Indenture) and holders who convert upon the occurrence of certain specific events prior to February 1, 2017 (other than in connection with a make-whole fundamental change). | ||||||||||||||||
On August 30, 2013, one of the conversion rights of the 2033 Senior Notes was triggered. As a result, holders of the 2033 Senior Notes converted $16.9 million principal amount into 2,396,145 shares of our Common Stock at a rate of 141.4827 shares of Common Stock per $1,000 principal amount of 2033 Senior Notes. We recorded an $8.7 million loss on early conversion of the 2033 Senior Notes in Other income (expense), net in our Consolidated Statement of Operations. The 2033 Senior Notes were convertible through September 6, 2013 and may be convertible thereafter, if one or more of the conversion conditions are satisfied. | ||||||||||||||||
We may not redeem the 2033 Senior Notes prior to February 1, 2017. On or after February 1, 2017 and before February 1, 2019, we may redeem for cash any or all of the 2033 Senior Notes but only if the last reported sale price of our Common Stock exceeds 130% of the applicable conversion price for at least 20 trading days during the 30 consecutive trading day period ending on the trading day immediately prior to the date on which we deliver the redemption notice. The redemption price will equal 100% of the principal amount of the 2033 Senior Notes to be redeemed, plus any accrued and unpaid interest to but not including the redemption date. On or after February 1, 2019, we may redeem for cash any or all of the 2033 Senior Notes at a redemption price of 100% of the principal amount of the 2033 Senior Notes to be redeemed, plus any accrued and unpaid interest up to but not including the redemption date. | ||||||||||||||||
The terms of the 2033 Senior Notes, include, among others: (i) rights to convert into shares of our Common Stock, including upon a fundamental change; and (ii) a coupon make-whole payment in the event of a conversion by the holders of the 2033 Senior Notes on or after February 1, 2017 but prior to February 1, 2019. We have determined that these specific terms are considered to be embedded derivatives. As a result, embedded derivatives are required to be separated from the host contract, the 2033 Senior Notes, and carried at fair value when: (a) the embedded derivative possesses economic characteristics that are not clearly and closely related to the economic characteristics of the host contract; and (b) a separate, stand-alone instrument with the same terms would qualify as a derivative instrument. We have concluded that the embedded derivatives within the 2033 Senior Notes meet these criteria and, as such, must be valued separate and apart from the 2033 Senior Notes and recorded at fair value each reporting period. | ||||||||||||||||
For purposes of accounting and financial reporting, we combine these embedded derivatives and value them together as one unit of accounting. At each reporting period, we record these embedded derivatives at fair value which is included as a component of the 2033 Senior Notes on our Consolidated Balance Sheets. | ||||||||||||||||
We used a binomial lattice model in order to estimate the fair value of the embedded derivative in the 2033 Senior Notes. A binomial lattice model generates two probable outcomes — one up and another down —arising at each point in time, starting from the date of valuation until the maturity date. A lattice was initially used to determine if the 2033 Senior Notes would be converted, called or held at each decision point. Within the lattice model, the following assumptions are made: (i) the 2033 Senior Notes will be converted early if the conversion value is greater than the holding value; or (ii) the 2033 Senior Notes will be called if the holding value is greater than both (a) the redemption price (as defined in the Indenture) and (b) the conversion value plus the coupon make-whole payment at the time. If the 2033 Senior Notes are called, then the holder will maximize their value by finding the optimal decision between (1) redeeming at the redemption price and (2) converting the 2033 Senior Notes. | ||||||||||||||||
Using this lattice model, we valued the embedded derivatives using the “with-and-without method,” where the value of the 2033 Senior Notes including the embedded derivatives is defined as the “with,” and the value of the 2033 Senior Notes excluding the embedded derivatives is defined as the “without.” This method estimates the value of the embedded derivatives by looking at the difference in the values between the 2033 Senior Notes with the embedded derivatives and the value of the 2033 Senior Notes without the embedded derivatives. | ||||||||||||||||
The lattice model requires the following inputs: (i) price of our Common Stock; (ii) Conversion Rate (as defined in the Indenture); (iii) Conversion Price (as defined in the Indenture); (iv) maturity date; (v) risk-free interest rate; (vi) estimated stock volatility; and (vii) estimated credit spread for the Company. | ||||||||||||||||
The following table sets forth the inputs to the lattice model used to value the embedded derivative: | ||||||||||||||||
December 31, 2013 | Issuance Date | |||||||||||||||
Stock price | $8.44 | $6.20 | ||||||||||||||
Conversion Rate | 141.4827 | 141.4827 | ||||||||||||||
Conversion Price | $7.07 | $7.07 | ||||||||||||||
Maturity date | February 1, 2033 | February 1, 2033 | ||||||||||||||
Risk-free interest rate | 1.78% | 1.12% | ||||||||||||||
Estimated stock volatility | 55% | 40% | ||||||||||||||
Estimated credit spread | 828 basis points | 944 basis points | ||||||||||||||
The following table sets forth the fair value of the 2033 Senior Notes with and without the embedded derivatives, and the fair value of the embedded derivatives as of the issuance date and December 31, 2013. At December 31, 2013 and at issuance date the principal amount of the 2033 Senior Notes was $158.1 million and $175.0 million, respectively: | ||||||||||||||||
(In thousands) | December 31, 2013 | Issuance Date | ||||||||||||||
Fair value of Notes: | ||||||||||||||||
With the embedded derivatives | $ | 218,081 | $ | 175,000 | ||||||||||||
Without the embedded derivatives | $ | 116,993 | $ | 115,796 | ||||||||||||
Estimated fair value of the embedded derivatives | $ | 101,087 | $ | 59,204 | ||||||||||||
Changes in certain inputs into the lattice model can have a significant impact on changes in the estimated fair value of the embedded derivatives. For example, a decrease in our estimated credit spread results in an increase in the estimated value of the embedded derivatives. Conversely, a decrease in the price of our Common Stock results in a decrease in the estimated fair value of the embedded derivatives. From the date the 2033 Senior Notes were issued through December 31, 2013, we observed an increase in the market price of our Common Stock which primarily resulted in a $43.1 million increase in the estimated fair value of our embedded derivatives recorded in Fair value changes of derivative instruments, net in our Consolidated Statements of Operations. | ||||||||||||||||
We have entered into line of credit agreements with sixteen financial institutions in Chile and Spain. These lines of credit are used primarily as a source of working capital for inventory purchases. | ||||||||||||||||
The following table summarizes the amounts outstanding under the Chilean and Spanish lines of credit: | ||||||||||||||||
(Dollars in thousands) | Balance Outstanding | |||||||||||||||
Lender | Interest rate on | Credit line | December 31, | December 31, | ||||||||||||
borrowings | capacity | 2013 | 2012 | |||||||||||||
Itau Bank | 8.04 | % | $ | 3,000 | $ | 1,999 | $ | 2,738 | ||||||||
Bank of Chile | 7.8 | % | 2,250 | 2,079 | 2,292 | |||||||||||
BICE Bank | 5.5 | % | 1,500 | 516 | 2,451 | |||||||||||
Corp Banca | 5.5 | % | — | (47 | ) | 1,248 | ||||||||||
BBVA Bank | 8.29 | % | 2,000 | 523 | 2,823 | |||||||||||
Penta Bank | 9.48 | % | 1,000 | 946 | 833 | |||||||||||
Security Bank | 7.56 | % | 1,337 | 1,075 | — | |||||||||||
BCI | 5.5 | % | 198 | 198 | — | |||||||||||
Estado Bank | 6.88 | % | 2,000 | 1,772 | 1,963 | |||||||||||
Sabadell Bank | 7.6 | % | — | — | 3 | |||||||||||
Banco Bilbao Vizcaya | 4.9 | % | 344 | — | 377 | |||||||||||
Banco Popular | 8.25 | % | 275 | — | 260 | |||||||||||
Santander Bank | 6 | % | 207 | — | — | |||||||||||
Banesto | 5.8 | % | 207 | — | 163 | |||||||||||
Banca March | 6.25 | % | — | — | 44 | |||||||||||
Deutsche Bank | 4 | % | 206 | |||||||||||||
Total | $ | 14,524 | $ | 9,061 | $ | 15,195 | ||||||||||
At December 31, 2013 and December 31, 2012, the weighted average interest rate on our lines of credit was approximately 7.7% and 6.5%, respectively. | ||||||||||||||||
At December 31, 2013 and December 31, 2012, we had mortgage notes and other debt payables related to Farmadiet as follows: | ||||||||||||||||
December 31, | ||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
Current portion of notes payable | $ | 1,964 | $ | 2,331 | ||||||||||||
Other long-term liabilities | 3,270 | 3,916 | ||||||||||||||
Total mortgage notes and other debt payables | $ | 5,234 | $ | 6,247 | ||||||||||||
The mortgages and other debts payable mature at various dates ranging from 2015 through 2024 bearing variable interest rates from 2.7% up to 6.3%. The weighted average interest rate on the mortgage notes and other debts payable at December 31, 2013 and December 31, 2012, was 3.9% and 4.5%, respectively. The mortgages are secured by our office space in Barcelona. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Shareholders' Equity | ' | ||||||||
Shareholders’ Equity | |||||||||
Our authorized capital stock consists of 750,000,000 shares of Common Stock, par value $0.01 per share, and 10,000,000 shares of Preferred Stock, par value $0.01 per share. | |||||||||
Common Stock | |||||||||
Subject to the rights of the holders of any shares of Preferred Stock currently outstanding or which may be issued in the future, the holders of the Common Stock are entitled to receive dividends from our funds legally available when, as and if declared by our Board of Directors, and are entitled to share ratably in all of our assets available for distribution to holders of Common Stock upon the liquidation, dissolution or winding-up of our affairs subject to the liquidation preference, if any, of any then outstanding shares of Preferred Stock. Holders of our Common Stock do not have any preemptive, subscription, redemption or conversion rights. Holders of our Common Stock are entitled to one vote per share on all matters which they are entitled to vote upon at meetings of stockholders or upon actions taken by written consent pursuant to Delaware corporate law. The holders of our Common Stock do not have cumulative voting rights, which means that the holders of a plurality of the outstanding shares can elect all of our directors. All of the shares of our Common Stock currently issued and outstanding are fully-paid and nonassessable. No dividends have been paid to holders of our Common Stock since our incorporation, and no cash dividends are anticipated to be declared or paid on our Common Stock in the reasonably foreseeable future. | |||||||||
In addition to our equity-based compensation plans, we have issued warrants to purchase our Common Stock. Refer to Note 9 for additional information on our share-based compensation plans. The table below provides additional information for warrants outstanding as of December 31, 2013. | |||||||||
Warrants | Number of | Weighted | Expiration date | ||||||
warrants | average | ||||||||
exercise price | |||||||||
Outstanding at December 31, 2012 | 25,841,868 | $ | 0.95 | Various from September 2014 through March 2017 | |||||
Issued | 281,622 | 0.89 | |||||||
Exercised | (1,626,826 | ) | — | ||||||
Expired | — | — | |||||||
Outstanding and Exercisable at December 31, 2013 | 24,496,664 | $ | 0.94 | Various from | |||||
September 2014 | |||||||||
through March 2017 | |||||||||
Of the 1,626,826 Common Stock warrants exercised, 139,052 shares were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements. | |||||||||
Preferred Stock | |||||||||
Under our certificate of incorporation, our Board of Directors has the authority, without further action by stockholders, to designate up to 10 million shares of Preferred Stock in one or more series and to fix or alter, from time to time, the designations, powers and rights of each series of Preferred Stock and the qualifications, limitations or restrictions of any series of Preferred Stock, including dividend rights, dividend rate, conversion rights, voting rights, rights and terms of redemption (including sinking fund provisions), redemption price or prices, and the liquidation preference of any wholly issued series of Preferred Stock, any or all of which may be greater than the rights of the Common Stock, and to establish the number of shares constituting any such series. | |||||||||
Series A Preferred Stock | |||||||||
Of the authorized Preferred Stock, 4,000,000 shares were designated Series A Preferred Stock. Dividends were payable on the Series A Preferred Stock in the amount of $0.25 per share, payable annually in arrears. At the option of our Board of Directors, dividends were paid either (i) wholly or partially in cash or (ii) in newly issued shares of Series A Preferred Stock valued at $2.50 per share to the extent a cash dividend was not paid. In June 2011, we redeemed all 602,759 shares outstanding of our Series A Preferred Stock for an aggregate redemption price of $1.8 million, including accrued dividends. | |||||||||
Series C Preferred Stock | |||||||||
Of the authorized Preferred Stock, 500,000 shares were designated Series C Preferred Stock. On June 22, 2007, 457,603 shares of Series C Preferred Stock were issued and outstanding and held by 30 stockholders. Cumulative dividends were payable on the Series C Preferred Stock in the amount of $1.54 per share when declared by the Board of Directors. In June 2007, all outstanding shares (457,603 shares) of Series C Preferred Stock automatically converted into shares of Common Stock, on a one-hundred-for-one basis. | |||||||||
8% Series D Cumulative Convertible Preferred Stock | |||||||||
Of the authorized Preferred Stock, 2,000,000 shares were designated 8% Series D Cumulative Convertible Preferred Stock (“Series D Preferred Stock”). Holders of the Series D Preferred Stock were entitled to receive, when, as and if declared by our Board of Directors, dividends on each share of Series D Preferred Stock at a rate per annum equal to 8% of the sum of (a) $24.80, plus (b) any and all declared and unpaid and accrued dividends thereon, subject to adjustment for any stock split, combination, recapitalization or other similar corporate action (the “Liquidation Amount”). All dividends were cumulative, whether or not earned or declared, accruing on an annual basis from the issue date of the Series D Preferred Stock. In October 2011, 80,654 shares of our Series D Preferred Stock were converted into 940,141 shares of our Common Stock, reflecting the liquidation value on the date of conversion. On March 1, 2013, our Board of Directors declared a cash dividend to all Series D Preferred Stockholders as of March 8, 2013. The total cash dividend paid was approximately $3.0 million. In addition, the Company also exercised its option to convert all 1,129,032 shares of our outstanding Series D Preferred Stock into 11,290,320 shares of our Common Stock effective of March 8, 2013. Following the conversion there are no outstanding shares of Series D Preferred Stock. | |||||||||
The 2012 cash dividend to Series D Preferred Stockholders was approximately $3.0 million. As of December 31, 2012 we had approximately $2.30 per Series D Preferred Share, or $2.6 million, of Series D Preferred Stock dividends in arrears. | |||||||||
The holders of Series D Preferred Stock had the right to receive notice of any meeting of holders of our Common Stock or Series D Preferred Stock and to vote (on an as-converted into Common Stock basis) upon any matter submitted to a vote of the holders of Common Stock or Series D Preferred Stock. Except as otherwise expressly set forth in the Company’s Amended and Restated Certificate of Incorporation, as amended from time to time, the holders of Series D Preferred Stock could vote on each matter submitted to them with the holders of Common Stock and all other classes and series of our capital stock entitled to vote on such matter, taken together as a single class. | |||||||||
With respect to dividend distributions (other than required dividends to the holders of our Series A Preferred Stock) and distributions upon liquidation, winding up or dissolution of the Company, the Series D Preferred Stock ranks senior to all classes of common stock, our Series A Preferred Stock, our Series C Preferred Stock, and to each other class of our capital stock existing now or hereafter created that are not specifically designated as ranking senior to or pari passu with the Series D Preferred Stock. | |||||||||
Upon the occurrence of a Liquidation Event (as defined in the Certificate of Designation), holders of Series D Preferred Stock were entitled to be paid, subject to applicable law, out of our assets available for distribution to our stockholders, an amount in cash (the “Liquidation Payment”) for each share of Series D Preferred Stock equal to the greater of (x) the Liquidation Amount for each such share of Series D Preferred Stock outstanding plus (i) any declared and unpaid dividends and (ii) accrued dividends or (y) the amount for each share of Series D Preferred Stock the holders were entitled to receive pursuant to the Liquidation Event if all of the shares of Series D Preferred Stock had been converted into Common Stock as of the date immediately prior to the date fixed for determination of stockholders entitled to receive a distribution in such Liquidation Event. Such Liquidation Payment will be paid before any cash distribution will be made or any other assets distributed in respect of any class of securities junior to the Series D Preferred Stock, including, without limitation, Common Stock and the Series A Preferred Stock. | |||||||||
The holder of any share of Series D Preferred Stock could have at any time and from time to time convert such share into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing (A) the Liquidation Amount of the share by (B) the Conversion Price, which is initially $2.48, subject to adjustment as provided in the Certificate of Designation. Initially, the Series D Preferred Stock was convertible into 10 shares of our Common Stock. | |||||||||
We could have, at any time, converted the outstanding Series D Preferred Stock into such number of fully paid and non-assessable shares of Common Stock as is determined by dividing (A) the Liquidation Amount of the shares by (B) the Conversion Price, but only if the closing bid price of the Common Stock exceeds $5.00 per share during any thirty (30) consecutive trading days prior to each conversion. Initially, the Series D Preferred Stock was convertible into 10 shares of our Common Stock. | |||||||||
To the extent it is lawfully able to do so, we could have redeemed all of the then outstanding shares of Series D Preferred Stock by paying in cash an amount per share equal to $24.80 plus all declared or accrued unpaid dividends on such shares, subject to adjustment for any stock dividends or distributions, splits, subdivisions, combinations, reclassifications, stock issuances or similar events with respect to the Common Stock. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Equity [Abstract] | ' | |||||||
Accumulated Other Comprehensive Income | ' | |||||||
Accumulated Other Comprehensive Income | ||||||||
For the year ended December 31, 2013, changes in Accumulated other comprehensive income, net of tax, were as follows: | ||||||||
(In thousands) | Foreign | Unrealized | ||||||
currency | gains in | |||||||
Accumulated | ||||||||
OCI | ||||||||
Balance at December 31, 2012 | $ | 3,196 | $ | 4,160 | ||||
Other comprehensive income before reclassifications, net of tax (1) | (1,825 | ) | 2,467 | |||||
Amounts reclassified from accumulated other comprehensive income, net of tax (1) | (4,580 | ) | ||||||
Net other comprehensive income | (1,825 | ) | (2,113 | ) | ||||
Balance at December 31, 2013 | $ | 1,371 | $ | 2,047 | ||||
-1 | Effective tax rate of 38.47%. | |||||||
Amounts reclassified from Accumulated other comprehensive income for the year ended December 31, 2013, related to $10.8 million realized gain on the sales of certain of our investments available for sale. Of the $10.8 million gain on the sales of our investments available for sale, a $7.5 million gain was reclassified from unrealized gains in Accumulated other comprehensive income to Other income (expense), net for the year ended December 31, 2013. |
EquityBased_Compensation
Equity-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Equity-Based Compensation | ' | ||||||||||||
Equity-Based Compensation | |||||||||||||
We maintain five equity-based incentive compensation plans, the Acuity Pharmaceuticals, Inc. 2003 Equity Incentive Plan, 2007 Equity Incentive Plan, the 2000 Stock Option Plan, the Modigene Inc. 2005 Stock Incentive Plan and the Modigene Inc. 2007 Equity Incentive Plan that provide for grants of stock options and restricted stock to our directors, officers, key employees and certain outside consultants. Equity awards granted under our 2007 Equity Incentive Plan are exercisable for a period up to 7 years from the date of grant. Equity awards granted under our 2000 Stock Option Plan, 2003 Equity Incentive Plan and the two Modigene Plans are exercisable for a period of up to 10 years from date of grant. Vesting periods range from immediate to 5 years. | |||||||||||||
We classify the cash flows resulting from the tax benefit that arises when the tax deductions exceed the compensation cost recognized for those equity awards (excess tax benefits) as financing cash flows. There were no excess tax benefits for the years ended December 31, 2013, 2012, and 2011. | |||||||||||||
Equity-based compensation arrangements to non-employees are accounted for at their fair value on the measurement date. The measurement of equity-based compensation is subject to periodic adjustment over the vesting period of the equity instruments. | |||||||||||||
Valuation and Expense Information | |||||||||||||
We recorded equity based compensation expense from continuing operations of $11.0 million, $5.1 million and $7.0 million for the years ended December 31, 2013, 2012, and 2011, respectively, all of which were reflected as operating expenses. Of the $11.0 million of equity based compensation expense recorded in the year ended December 31, 2013, $7.3 million was recorded as selling, general and administrative expenses, $3.6 million was recorded as research and development expenses and $0.1 million was recorded as a cost of revenue. Of the $5.1 million of equity based compensation expense recorded in the year ended December 31, 2012, $3.1 million was recorded as selling, general and administrative expense and $2.0 million was recorded as research and development expenses. Of the $7.0 million of equity based compensation expense recorded in the year ended December 31, 2011, $3.0 million was recorded as selling, general and administrative expense and $4.0 million was recorded as research and development expenses. In addition, during the year ended December 31, 2011, we recorded equity based compensation expense from discontinued operations of $0.2 million. Refer to Note 4. | |||||||||||||
We estimate forfeitures of stock options and recognize compensation cost only for those awards expected to vest. Forfeiture rates are determined for all employees and non-employee directors based on historical experience and our estimate of future vesting. Estimated forfeiture rates are adjusted from time to time based on actual forfeiture experience. | |||||||||||||
As of December 31, 2013, there was $32.1 million of unrecognized compensation cost related to the stock options granted under our equity-based incentive compensation plans. Such cost is expected to be recognized over a weighted-average period of approximately 2.8 years. | |||||||||||||
Stock Options | |||||||||||||
We estimate the fair value of each stock option on the date of grant using the Black-Scholes-Merton Model option-pricing formula and amortize the fair value to expense over the stock option’s vesting period using the straight-line attribution approach for employees and non-employee directors, and for awards issued to non-employees we recognize compensation expense on a graded basis, with most of the compensation expense being recorded during the initial periods of vesting. We apply the following assumptions in our Black-Scholes-Merton Model option-pricing formula: | |||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||
December 31, | December 31, | December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected term (in years) | 1.0 - 7.0 | 1.0 - 7.0 | 0.6 - 7.0 | ||||||||||
Risk-free interest rate | 0.15% - 2.45% | 0.09% - 2.61% | 1.3% - 2.7% | ||||||||||
Expected volatility | 31% - 83% | 69% | 69% - 74% | ||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||
Expected Term: The expected term of the stock options granted to employees and non-employee directors was calculated using the shortcut method. We believe this method is appropriate as our equity shares have been publicly-traded for a limited period of time and as such we do not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. The expected term of stock options issued to non-employee consultants is the remaining contractual life of the options issued. | |||||||||||||
Risk-Free Interest Rate: The risk-free interest rate is based on the rates paid on securities issued by the U.S. Treasury with a term approximating the expected life of the option. | |||||||||||||
Expected Volatility: The expected volatility for stock options with an expected life of 6 years or less was based on the historical volatility of our stock. The expected volatility for stock options with an expected life of 7 years was based on a peer group of publicly-traded stocks’ historical trading, which we believe will be representative of the volatility over the expected term of the options. We believe the peer group’s historical volatility is appropriate as our equity shares have not been publicly-traded for 7 years. | |||||||||||||
Expected Dividend Yield: We do not intend to pay dividends on Common Stock for the foreseeable future. Accordingly, we used a dividend yield of zero in the assumptions. | |||||||||||||
We maintain incentive stock plans that provide for the grants of stock options to our directors, officers, employees and non-employee consultants. As of December 31, 2013, there were 21,399,502 shares of Common Stock reserved for issuance under our 2007 Incentive Plan. We intend to issue new shares upon the exercise of stock options. Stock options granted under these plans have been granted at an option price equal to the closing market value of the stock on the date of the grant. Stock options granted under these plans to employees typically become exercisable over four years in equal annual installments after the date of grant, and stock options granted to non-employee directors become exercisable in full one-year after the grant date, subject to, in each case, continuous service with us during the applicable vesting period. We assumed stock options to grant Common Stock as part of the mergers with Acuity Pharmaceuticals, Inc., Froptix, Inc. and PROLOR, which reflected various vesting schedules, including monthly vesting to employees and non-employee consultants. | |||||||||||||
A summary of option activity under our stock option plans as of December 31, 2013, and the changes during the year is presented below: | |||||||||||||
Options | Number of | Weighted | Weighted | Aggregate | |||||||||
options | average | average | intrinsic value | ||||||||||
exercise | remaining | (in thousands) | |||||||||||
price | contractual | ||||||||||||
term (years) | |||||||||||||
Outstanding at December 31, 2012 | 17,761,804 | $ | 2.9 | 3.8 | $ | 34,227 | |||||||
Granted | 5,722,000 | $ | 7.76 | ||||||||||
Assumed from PROLOR | 7,612,537 | $ | 3.09 | ||||||||||
Exercised | (9,254,744 | ) | $ | 2.46 | |||||||||
Forfeited | (488,500 | ) | $ | 2.44 | |||||||||
Expired | (2,500 | ) | $ | 4.02 | |||||||||
Outstanding at December 31, 2013 | 21,350,597 | $ | 4.47 | 4.85 | $ | 85,186 | |||||||
Vested and expected to vest at December 31, 2013 | 19,765,840 | $ | 4.35 | 4.79 | $ | 81,229 | |||||||
Exercisable at December 31, 2013 | 11,088,879 | $ | 3.13 | 4.21 | $ | 58,889 | |||||||
The total intrinsic value of stock options exercised for the years ended December 31, 2013, 2012, and 2011 was $59.5 million, $2.4 million and $0.8 million, respectively. | |||||||||||||
The weighted average grant date fair value of stock options granted for the years ended December 31, 2013, 2012, and 2011 was $4.00, $2.44, and $2.49, respectively. The total fair value of stock options vested during the years ended December 31, 2013, 2012, and 2011 was $5.9 million, $3.4 million and $6.4 million, respectively. The following table provides the grant date fair value for each of the following groups of stock option activity during 2013: | |||||||||||||
Options | Number of | Weighted | |||||||||||
options | average | ||||||||||||
grant | |||||||||||||
date fair | |||||||||||||
value | |||||||||||||
Nonvested at December 31, 2012 | 6,227,914 | $ | 1.45 | ||||||||||
Granted | 5,722,000 | $ | 4 | ||||||||||
Forfeited | 488,500 | $ | 1.37 | ||||||||||
Nonvested at December 31, 2013 | 10,261,718 | $ | 3.2 | ||||||||||
Restricted Stock | |||||||||||||
In 2009, we issued 30,000 shares of restricted Common Stock to one of our independent board members. The restricted stock was granted under our 2007 Equity Incentive Plan with a term of 7 years and vesting occurring 5 years after the grant date with certain events which would accelerate the vesting of the award. The restricted stock was valued using the grant date fair value which was equivalent to the closing price of our Common Stock on the grant date. We record the cost of restricted stock over the vesting period. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
We operate and are required to file tax returns in the United States and various foreign jurisdictions. | ||||||||||||
The (expense) benefit from continuing operations for incomes taxes consists of the following: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Current | ||||||||||||
Federal | $ | — | $ | — | $ | — | ||||||
State | — | — | — | |||||||||
Foreign | (1,073 | ) | (332 | ) | (391 | ) | ||||||
(1,073 | ) | (332 | ) | (391 | ) | |||||||
Deferred | ||||||||||||
Federal | (1,161 | ) | 8,191 | 18,043 | ||||||||
State | (104 | ) | 1,038 | 1,220 | ||||||||
Foreign | 666 | 729 | 486 | |||||||||
(599 | ) | 9,958 | 19,749 | |||||||||
Total, net | $ | (1,672 | ) | $ | 9,626 | $ | 19,358 | |||||
Deferred income tax assets and liabilities from continuing operations as of December 31, 2013 and 2012 are comprised of the following: | ||||||||||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | ||||||||||
Deferred income tax assets: | ||||||||||||
Federal net operating loss | $ | 43,869 | $ | 50,174 | ||||||||
State net operating loss | 6,987 | 6,774 | ||||||||||
Foreign net operating loss | 20,545 | 3,427 | ||||||||||
Capitalized research and development expense | 4,746 | 2,162 | ||||||||||
Research and development tax credit | 4,876 | 4,204 | ||||||||||
Stock options | 13,981 | 6,326 | ||||||||||
Equity investments | 4,756 | 1,234 | ||||||||||
Accruals | 1,936 | 1,556 | ||||||||||
Other | 2,904 | 2,860 | ||||||||||
Deferred income tax assets | 104,600 | 78,717 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Intangible assets | (179,414 | ) | (25,738 | ) | ||||||||
Other | (4,996 | ) | (3,277 | ) | ||||||||
Deferred income tax liabilities | (184,410 | ) | (29,015 | ) | ||||||||
Net deferred income tax assets | (79,810 | ) | 49,702 | |||||||||
Valuation allowance | (85,370 | ) | (59,145 | ) | ||||||||
Net deferred income tax liabilities | $ | (165,180 | ) | $ | (9,443 | ) | ||||||
The changes in deferred income tax assets, liabilities and valuation allowances at December 31, 2013 reflect the acquisition of various legal entities, including the tax attributes. Certain deferred tax assets and liabilities have been changed to properly reflect their classification. The acquisitions were accounted for under U.S. GAAP as stock acquisitions and business combinations. As of December 31, 2013, we have federal, state and foreign net operating loss carryforwards of approximately $223.8 million, $200.2 million and $76.8 million, respectively, that expire at various dates through 2033. Included in the foreign net operating losses is $54.6 million related to Prolor. As of December 31, 2013, we have research and development tax credit carryforwards of approximately $4.9 million that expire in varying amounts through 2033. We have determined a full valuation allowance is required against all of our net deferred tax assets that we do not expect to be utilized by the turning of deferred income tax liabilities. | ||||||||||||
As a result of certain realization requirements of ASC 718, Compensation - Stock Compensation, the table of deferred tax assets and liabilities shown above does not include certain deferred tax assets as of December 31, 2013, and December 31, 2012, that arose directly from (or the use of which was postponed by) tax deductions related to equity compensation that are greater than the compensation recognized for financial reporting. Equity will be increased by $11.8 if and when such deferred tax assets are ultimately realized. The Company uses ASC 740 ordering when determining when excess tax benefits have been realized. | ||||||||||||
Under Section 382 of the Internal Revenue Code of 1986, as amended, certain significant changes in ownership may restrict the future utilization of our income tax loss carryforwards and income tax credit carryforwards in the U.S. The annual limitation is equal to the value of our stock immediately before the ownership change, multiplied by the long-term tax-exempt rate (i.e., the highest of the adjusted Federal long-term rates in effect for any month in the three-calendar-month period ending with the calendar month in which the change date occurs). This limitation may be increased under the IRC§ 338 Approach (IRS approved methodology for determining recognized Built-In Gain). As a result, federal net operating losses and tax credits may expire before we are able to fully utilize them. | ||||||||||||
During 2008, we conducted a study to determine the impact of the various ownership changes that occurred during 2007 and 2008. As a result, we have concluded that the annual utilization of our net operating loss carryforwards (“NOLs”) and tax credits is subject to a limitation pursuant to Internal Revenue Code section 382. Under the tax law, such NOLs and tax credits are subject to expiration from 15 to 20 years after they were generated. As a result of the annual limitation that may be imposed on such tax attributes and the statutory expiration period, some of these tax attributes may expire prior to our being able to use them. As we have established a valuation allowance against all of our net deferred tax assets, including such NOLs and tax credits, there is no current impact on these financial statements as a result of the annual limitation. This study did not conclude as to whether eXegenics’ pre-merger NOLs were limited under Section 382. As such, of the $223.8 million of federal net operating loss carryforwards, at least approximately $39.7 million may not be able to be utilized. | ||||||||||||
Uncertain Income Tax Positions | ||||||||||||
We file federal income tax returns in the U.S. and various foreign jurisdictions, as well as with various U.S. states and the Ontario province in Canada. We are subject to tax audits in all jurisdictions for which we file tax returns. Tax audits by their very nature are often complex and can require several years to complete. Excluding SciVac Ltd, a consolidated variable interest entity, there are currently no tax audits that have commenced with respect to income tax returns in any jurisdiction. | ||||||||||||
U.S. Federal: Under the tax statute of limitations applicable to the Internal Revenue Code, we are no longer subject to U.S. federal income tax examinations by the Internal Revenue Service for years before 2010. However, because we are carrying forward income tax attributes, such as net operating losses and tax credits from 2010 and earlier tax years, these attributes can still be audited when utilized on returns filed in the future. | ||||||||||||
State: Under the statutes of limitation applicable to most state income tax laws, we are no longer subject to state income tax examinations by tax authorities for years before 2010 in states in which we have filed income tax returns. Certain states may take the position that we are subject to income tax in such states even though we have not filed income tax returns in such states and, depending on the varying state income tax statutes and administrative practices, the statute of limitations in such states may extend to years before 2010. | ||||||||||||
Foreign: Under the statutes of limitations applicable to our foreign operations, we are generally no longer subject to tax examination for years before 2008 in jurisdictions where we have filed income tax returns. | ||||||||||||
Unrecognized Tax Benefits | ||||||||||||
As of December 31, 2013, 2012, and 2011, the total amount of gross unrecognized tax benefits was approximately $9.2 million, $9.2 million, and $5.3 million, respectively. As of December 31, 2013, the total gross unrecognized tax benefit of $9.2 million consisted of increases of $0.1 million as a result of current year activity, and decreases of $0.2 million as a result of the lapse of statutes of limitations. As of December 31, 2012, the total amount of unrecognized tax benefits that, if recognized, would affect our effective income tax rate was $0.3 million. As of December 31, 2011 and 2010, none of the unrecognized tax benefits, if recognized, would have affected our effective income tax rate. We account for any applicable interest and penalties on uncertain tax positions as a component of income tax expense. As of December 31, 2013, we had $0.5 million accrued for interest and penalties resulting from such unrecognized tax benefits. At December 31, 2012 we had an immaterial amount of interest and penalties accrued. We believe it is reasonably possible that approximately $0.2 million of unrecognized tax benefits may be recognized within the next twelve months as a result of a lapse of the statute of limitations. | ||||||||||||
The following summarizes the changes in our gross unrecognized income tax benefits. | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Unrecognized tax benefits at beginning of period | $ | 9,245 | $ | 5,250 | $ | 5,413 | ||||||
Gross increases – tax positions in prior period | 575 | 4,467 | 257 | |||||||||
Gross decreases – tax positions in prior period | (589 | ) | (472 | ) | (420 | ) | ||||||
Unrecognized tax benefits at end of period | $ | 9,231 | $ | 9,245 | $ | 5,250 | ||||||
Other Income Tax Disclosures | ||||||||||||
The significant elements contributing to the difference between the federal statutory tax rate and the effective tax rate for continuing operations are as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal benefit | 2.4 | % | 3.1 | % | 3.6 | % | ||||||
Foreign income tax | (7.9 | )% | (0.9 | )% | (1.9 | )% | ||||||
Research and development tax credits | 1 | % | (0.3 | )% | 0.2 | % | ||||||
Original issue discount | — | % | — | % | 0.1 | % | ||||||
Non-Deductible components of Convertible Debt | (16.7 | )% | — | % | — | % | ||||||
Valuation allowance | (11.4 | )% | (11.4 | )% | 35.9 | % | ||||||
Other | (3.9 | )% | (0.7 | )% | 2 | % | ||||||
Total | (1.5 | )% | 24.8 | % | 74.9 | % | ||||||
The following table reconciles our losses from continuing operations before income taxes between U.S. and foreign jurisdictions: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Pre-tax loss: | ||||||||||||
U.S. | $ | (74,861 | ) | $ | (34,058 | ) | $ | (24,089 | ) | |||
Foreign | (37,874 | ) | (4,725 | ) | (1,733 | ) | ||||||
Total | $ | (112,735 | ) | $ | (38,783 | ) | $ | (25,822 | ) | |||
The following table reconciles our long-lived assets between U.S. and foreign jurisdictions: | ||||||||||||
(In thousands) | December 31, 2013 | December 31, 2012 | ||||||||||
Long-lived assets: | ||||||||||||
U.S. | $ | 4,582 | $ | 4,324 | ||||||||
Foreign | 12,445 | 12,202 | ||||||||||
Total | $ | 17,027 | $ | 16,526 | ||||||||
No additional provision has been made for U.S. or foreign income taxes on the undistributed earnings of subsidiaries or for unrecognized deferred tax liabilities for temporary differences related to investments in subsidiaries, as such earnings are expected to be permanently reinvested, the investments are essentially permanent in duration, or the Company has concluded that no additional tax liability will arise as a result of distribution of such earnings. A liability could arise if amounts are distributed by such subsidiaries or if such subsidiaries are ultimately disposed. It is not practicable to estimate the additional income taxes related to permanently reinvested earnings or the basis differences related to investments in subsidiaries. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
Supplemental Cash Flow Information | ||||||||||||
Supplemental cash flow information is summarized as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Interest paid | $ | 3,407 | $ | 945 | $ | 726 | ||||||
Income taxes paid, net | $ | 1,321 | $ | 575 | $ | 338 | ||||||
RXi common stock received | $ | 12,500 | $ | — | $ | — | ||||||
Non-cash financing: | ||||||||||||
Shares issued upon the conversion of: | ||||||||||||
Series D Preferred Stock | $ | 24,386 | $ | — | $ | 1,742 | ||||||
3.00% convertible senior notes | $ | 20,839 | $ | — | $ | — | ||||||
Common Stock warrants, net exercised | $ | 815 | $ | 7 | $ | 1,155 | ||||||
Issuance of Common Stock, Common Stock | $ | 586,643 | $ | — | $ | — | ||||||
options and warrants to acquire PROLOR | ||||||||||||
Issuance of capital stock to acquire: | ||||||||||||
OPKO Diagnostics | $ | — | $ | — | $ | 22,452 | ||||||
FineTech | $ | — | $ | — | $ | 17,717 | ||||||
Farmadiet | $ | 4,435 | $ | 805 | $ | — | ||||||
OURLab | $ | — | $ | 32,888 | $ | — | ||||||
OPKO Brazil | $ | 435 | $ | — | $ | — | ||||||
Cytochroma | $ | 146,902 | $ | — | $ | — | ||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
In October, 2013, we paid the $170,000 filing fee to the Federal Trade Commission (the “FTC”) in connection with filings made by us and Dr. Hsiao, our Vice Chairman of the Board and Chief Technical Officer, under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (“HSR Act”). | |
In October 2013, we entered into an agreement with ARNO pursuant to which we invested $2.0 million as part of an approximate $30 million financing. In exchange for our investment, we received 833,333 shares of ARNO common stock, one-year warrants to purchase 833,333 shares of ARNO common stock, for $2.40 a share and five-year warrants to purchase an additional 833,333 shares of ARNO common stock for $4.00 a share. Other investors participating in the private financing included Frost Gamma Investments Trust, a trust affiliated with Dr. Frost, Hsu Gamma Investment, L.P., an entity affiliated with Dr. Hsiao, and other members of our board of directors and management. In connection with the transaction, ARNO agreed that for so long as we continue to hold at least 3% of the total number of outstanding shares of ARNO’s common stock on a fully-diluted basis, we will have the right to appoint a non-voting observer to attend all meetings of ARNO’s board of directors and we shall have a right of first negotiation that provides us with exclusive rights to negotiate with ARNO for a 45-day period regarding any potential strategic transactions that ARNO’s board of directors elects to pursue. | |
In October 2013, we made an investment in Zebra pursuant to which we acquired 840,000 shares of Zebra’s Series A-2 Preferred stock for $2.0 million. Zebra is a privately held biotechnology company focused on the discovery and development of biosuperior antibody therapeutics and complex drugs. Zebra’s patented platform is an advanced version of a core technology developed at The Scripps Research Institute (“TSRI”) by Dr. Lerner (the “TSRI Technology”). Zebra acquired the license to the TSRI Technology from a third party who had licensed such rights from TSRI. In connection with its acquisition of rights to the TSRI Technology, Zebra agreed to make certain research funding payments to Dr. Lerner’s laboratory at TSRI to further support development of the TSRI Technology. Dr. Lerner also participated in the Series A-2 Preferred Stock financing on the same financial terms as the Company. Each of Drs. Frost and Lerner serve as members of the board of directors and scientific consultants to Zebra. After the closing, we own 23.5% of the Series A-2 Preferred stock issued and outstanding by Zebra. Each of Drs. Frost and Lerner received 900,000 restricted shares of Zebra common stock in connection with their roles as founders and scientific consultants to Zebra. Dr. Frost gifted his 900,000 shares of Zebra restricted common stock to OPKO. | |
Effective May 1, 2013, we entered into an agreement with Dr. Hsiao pursuant to which we have the right to utilize approximately 5,000 square feet of laboratory space in Taiwan, inclusive of any and all utility costs, taxes and building maintenance fees. In addition, Dr. Hsiao provides certain other services to us relating to government grant work in Taiwan, as well as the coordination of work flow between the our U.S. and Taiwanese operations. The term of the agreement is for five years and obligates us to pay Dr. Hsiao approximately $60,000 annually. | |
In August 2013, we acquired PROLOR pursuant to an Agreement and Plan of Merger dated as of April 23, 2013 in an all-stock transaction. Until completion of the acquisition, Dr. Frost was PROLOR’s Chairman of the Board and a greater than 5% stockholder of PROLOR. Dr. Hsiao and Mr. Rubin were also directors and less than 5% stockholders of PROLOR. | |
In January 2013, we entered into the 2033 Senior Notes, with the Purchasers for the sale of $175.0 million aggregate principal amount of 2033 Senior Notes in a private placement in reliance on exemptions from registration under the Securities Act. The Purchasers of the 2033 Senior Notes include Frost Gamma Investments Trust, a trust affiliated with Dr. Frost, and Hsu Gamma Investment, L.P., an entity affiliated with Dr. Hsiao. The 2033 Senior Notes were issued on January 30, 2013. | |
In December 2012, we entered into a five-year lease agreement with AVI Properties, LLC (“AVI”), an entity affiliated with Dr. Jonathan Oppenheimer, who previously served as OPKO Lab’s Chief Executive Officer and currently serves as Strategic Director. The lease is for approximately 44,000 square feet of laboratory and office space in Nashville, Tennessee, where OPKO Lab is based. The lease provides for payments of approximately $18 thousand per month in the first year, increasing annually if the consumer price index exceeds 5%, plus applicable sales tax. In addition to the rent, we pay a portion of operating expenses, property taxes and parking. | |
During the years ended December 31, 2013, and 2012, FineTech recorded revenue of $0.3 million and $0.2 million, respectively, for the sale of APIs to Teva Pharmaceutical Industries, Limited (“Teva”). Dr. Frost serves as the Chairman of the Board of Directors of Teva. | |
In February 2012, we entered into a cooperative research funding and option agreement with TSRI to support research for the development of novel oligomeric compounds relating to our molecular diagnostics technology (the “Research Agreement”). Pursuant to the Research Agreement, we agreed to provide funding of approximately $0.9 million annually over a five year period. In conjunction with entering into the Research Agreement, we also entered into a license agreement with TSRI for technology relating to libraries of peptide tertiary amides. In addition, we entered into a second license with TSRI for technology relating to highly selective inhibitors of c-Jun-N-Terminal Kinases that may be useful for the treatment of various diseases, including Parkinson’s disease. We also entered into a research funding and option agreement to provide funding of approximately $0.2 million annually over three years to support further development of the technology. Dr. Frost served as a Trustee for TSRI until November 2012 and Dr. Lerner, a member of our Board of Directors, served as its President until December 2011. | |
In February 2012, we made a $1.0 million investment in ChromaDex. Other investors participating in the private financing included the Gamma Trust, Hsu Gamma, and Dr. Lerner. Following our investment, we own 1.5% of ChromaDex, the Gamma Trust owns approximately 16% of ChromaDex; Hsu Gamma owns approximately 1%; and certain of our directors own less than 1% of ChromaDex. | |
In February 2012, we purchased from BZNE $1.7 million of 10% secured convertible promissory notes (the “BZNE Notes”), convertible into BZNE common stock at a price equal to $0.20 per common share, which BZNE Notes are due and payable on February 24, 2014 and ten year warrants to purchase 8.5 million shares of BZNE common stock at an exercise price of $0.40 per share. Mr. Roberto Prego Novo was the Chairman of BZNE until approximately January 2014 and presently serves as a consultant to us. Dr. Frost and Mr. Prego Novo previously invested in BZNE in February and March, 2011. On May 16, 2011, BZNE acquired the assets and assumed the liabilities of Aero Pharmaceuticals, Inc. (“Aero”) in exchange for which BZNE issued an aggregate of 8,331,396 shares of its restricted common stock to Aero. On September 21, 2011, BZNE issued an additional 13,914 shares to Aero due to the late filing of a registration statement. Prior to the transaction, Dr. Frost, through the Gamma Trust, beneficially owned approximately 46% of Aero’s issued and outstanding capital stock; Mr. Prego Novo owned approximately 23% of Aero’s issued and outstanding capital stock through Olyrca Trust; and Dr. Hsiao beneficially owned approximately 12% of Aero’s issued and outstanding stock. Each of Drs. Frost and Hsiao and Mr. Prego Novo beneficially owned approximately 9.2%, 1.7%, and 8.2% of BZNE, respectively, following the purchase of Aero by BZNE. Mr. Rubin beneficially owns less than 1% of BZNE as a result of his prior ownership of Aero shares. In April 2012 and June 2012, Dr. Frost, through the Gamma Trust, also made loans to BZNE in the principal amounts of $0.3 million and $0.1 million, respectively, which were initially secured by a first priority lien on a particular BZNE receivable. The notes to Gamma Trust were subsequently amended and Gamma Trust no longer holds a security interest in the BZNE receivables. | |
In December 2013, we converted the BZNE Notes into approximately 10 million shares of BZNE common stock. In July 2012, we exercised the BZNE Warrants utilizing the net exercise feature and received approximately 7,700,000 shares of BZNE common stock. The BZNE Notes were secured pursuant to a security agreement by a first priority lien in the assets of BZNE, including the stock of its subsidiaries. We also entered into a license agreement pursuant to which we acquired a world-wide license for the development and commercialization of products utilizing BZNE’s proprietary drug delivery technology, including a technology called QuSomes, exclusively for OPKO in the field of ophthalmology and non-exclusive for all other therapeutic fields, subject in each case to certain excluded products. | |
On January 2, 2014, BZNE sold substantially all of its operating assets, including its QuSomes technology, to MusclePharm Corporation (OTCQB: MSLP), an international, award-winning sports nutrition company (“Musclepharm”) | |
in exchange for 1.2 million shares of Musclepharm’s common stock. Effective January 3, 2014, BZNE completed a merger with Cocrystal, another entity in which we have an equity investment. In connection with the merger, BZNE issued to Cocrystal’s security holders 1,000,000 shares of BZNE Series B Convertible Preferred Stock (“Series B”). The Series B shares: (i) automatically convert into shares of BZNE’s common stock at a rate of 205.08308640 shares for each share of Series B at such time that BZNE has sufficient authorized capital, (ii) are entitled to vote on all matters submitted to shareholders of BZNE and vote on an as converted basis and (iii) have a nominal liquidation preference. Effective January 16, 2014, we invested an additional $.5 million in BZNE as part of a $2.75 million private placement and received 1 million shares of common stock and 1 million 10-year warrants exercisable at $0.50 per share. | |
In August 2011, we made an investment in Neovasc. Dr. Frost and other members of our management are shareholders of Neovasc. Prior to the investment, Dr. Frost beneficially owned approximately 36% of Neovasc, Dr. Hsiao owned approximately 6%, and Mr. Rubin owned less than 1%. Dr. Hsiao and Mr. Rubin also serve on the board of directors of Neovasc. | |
In November 2010, we made an investment in Fabrus. In exchange for the investment, we acquired approximately 13% of Fabrus on a fully diluted basis. Our investment was part of a $2.1 million financing for Fabrus. Other investors participating in the financing include the Gamma Trust and Hsu Gamma. In connection with the financing, Drs. Frost and Hsiao joined the Fabrus Board of Managers. Dr. Lerner owns approximately 5% of Fabrus. Mr. Vaughn Smider, Founder and CEO of Fabrus, is an Assistant Professor at TSRI. Dr. Frost served as a Trustee for TSRI until November 2012, and Dr. Lerner served as President of TSRI until December 2011. In October 2013, we made loans totaling $0.1 million to Fabrus, which loans are due and payable in January, 2014 and accrue interest as a rate of 7% per annum. | |
In June 2010, we entered into a cooperative research and development agreement with Academia Sinica, Taipei, Taiwan (“Academia Sinica”), for pre-clinical work for a compound against various forms of cancer. Dr. Alice Yu, a member of our Board of Directors, is a Distinguished Research Fellow and Associate Director at the Genomics Research Center, Academia Sinica (“Genomics Research Center”). In connection with the Academia Sinica Agreement, we are required to pay Academia Sinica approximately $0.2 million over the term of the agreement. | |
Effective in September 2009, we entered into an agreement pursuant to which we invested $2.5 million in Cocrystal in exchange for 1,701,723 shares of Cocrystal’s Convertible Series A Preferred Stock. A group of investors, led by the Frost Group LLC, which is an entity controlled by Dr. Frost, Dr. Hsaio and Mr. Rubin, (the “Cocrystal Investors”), previously invested $5.0 million in Cocrystal, and agreed to invest an additional $5.0 million payable in two equal installments in September 2009 and March 2010. As a result of an amendment to the Cocrystal Investors’ agreements dated June 9, 2009, we, rather than the Cocrystal Investors, made the first installment investment ($2.5 million) on September 21, 2009. As discussed above, effective January 2014, Cocrystal completed a merger with BZNE. | |
In June 2009, we entered into a stock purchase agreement with Sorrento, pursuant to which we invested $2.3 million in Sorrento Therapeutics, Inc. (“Sorrento”). In exchange for the investment, we acquired approximately one-third of the outstanding common shares of Sorrento and received a fully-paid, exclusive license to the Sorrento antibody library for the discovery and development of therapeutic antibodies in the field of ophthalmology. On September 21, 2009, Sorrento entered into a merger transaction with Quikbyte Software, Inc. (“Quikbyte”). Prior to the merger transaction, certain investors, including Dr. Frost and other members of our management group, made an investment in Quikbyte. Dr. Lerner serves as a consultant and scientific advisory board member to Sorrento and owns less than one percent of its shares. In December 2013, we completed the sale of our stake in Sorrento and recorded a gain on the sale of $17.2 million and other income of $2.7 million related to an early termination fee under a license agreement with Sorrento. | |
In November 2007, we entered into an office lease with Frost Real Estate Holdings, LLC (“Frost Holdings”), an entity affiliated with Dr. Frost. The lease was for approximately 8,300 square feet of space in an office building in Miami, Florida, where our principal executive offices are located. The lease provided for payments of approximately $18 thousand per month in the first year increasing annually to $24 thousand per month in the fifth year, plus applicable sales tax. The rent was inclusive of operating expenses, property taxes and parking. The rent for the first year was reduced to reflect a $30 thousand credit for the costs of tenant improvements. In August 2012, we entered into a six-month extension on the same terms as the 2007 expiring lease and in February 2013, we agreed to extend the lease on a month-to-month basis. Effective January 1, 2014, we entered into a new lease agreement with Frost Holdings for approximately 11,000 square feet of space. The lease provides for payments of approximately $30 thousand per month in the first year increasing annually to $34 thousand per month in the fifth year, plus applicable sales tax. As in the original lease, the rent is inclusive of operating expenses, property taxes and parking. The rent will be reduced by $155,200 for the cost of tenant improvements, of which approximately $68 thousand will be credited against rent payments over a period of 12 months. | |
We reimburse Dr. Frost for Company-related use by Dr. Frost and our other executives of an airplane owned by a company that is beneficially owned by Dr. Frost. We reimburse Dr. Frost in an amount equal to the cost of a first class airline ticket between the travel cities for each executive, including Dr. Frost, traveling on the airplane for Company-related business. We do not reimburse Dr. Frost for personal use of the airplane by Dr. Frost or any other executive; nor do we pay for any other fixed or variable operating costs of the airplane. For the years ended December 31, 2013, 2012, and 2011, we reimbursed Dr. Frost approximately $93 thousand, $203 thousand, and $170 thousand, respectively, for Company-related travel by Dr. Frost and other OPKO executives. |
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2013 | |
Compensation and Retirement Disclosure [Abstract] | ' |
Employee Benefit Plans | ' |
Employee Benefit Plans | |
Effective January 1, 2007, the OPKO Health Savings and Retirement Plan (the “Plan”) permits employees to contribute up to 50% of qualified pre-tax annual compensation up to annual statutory limitations. The discretionary company match for employee contributions to the Plan is 100% up to the first 4% of the participant’s earnings contributed to the Plan. Our matching contributions to the Plan were approximately $0.5 million, $0.3 million and $0.2 million for the years ended December 31, 2013, 2012, and 2011 respectively. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
In connection with our acquisitions of CURNA, OPKO Diagnostics, FineTech, Farmadiet, and Cytochroma, we agreed to pay future consideration to the sellers upon the achievement of certain events. As a result, as of December 31, 2013, we recorded $71.6 million as contingent consideration, with $28.0 million recorded within Accrued expenses and $43.6 million recorded within Other long-term liabilities in the accompanying Consolidated Balance Sheets. Refer to Note 5. | |
On April 29, 2013, we were named in a putative class action filed in the Eighth Judicial District Court in and for Clark County, Nevada against PROLOR, the members of the PROLOR Board of Directors, individually (including Drs. Frost and Hsiao and Steven Rubin), and the Company. From May 1, 2013 through May 6, 2013, we were named in an additional five putative class actions suits filed in the Eighth Judicial District Court in and for Clark County, Nevada against the same defendants. On July 17, 2013, these suits were consolidated, for all purposes, into an amended class action complaint, and on or around October 25, 2013, the plaintiffs filed a second amended consolidated class action complaint. The lawsuit is brought by purported holders of PROLOR’s common stock, both individually and on behalf of a putative class of PROLOR’s stockholders, asserting claims that PROLOR’s Board of Directors breached its fiduciary duties in connection with the merger by purportedly failing to maximize stockholder value, that PROLOR and its Board of Directors failed to disclose material information to PROLOR’s stockholders, and that the Company aided and abetted the alleged breaches of fiduciary duty. The lawsuit seeks monetary damages, including increased consideration to PROLOR’s stockholders, equitable relief, including, among other things, rescission of the Merger Agreement along with rescissionary damages, and an award of all costs, including reasonable attorneys’ fees. The Company denies the allegations and intends to vigorously defend the actions. It is too early to assess the probability of a favorable or unfavorable outcome or the loss or range of loss, if any. | |
In December 31, 2013, we entered into a settlement agreement with Adrian Goldstein, M.D., a former employee of OPKO Lab, resolving all claims between OPKO Lab and Dr. Goldstein. On November 27, 2012, Dr. Goldstein had filed a complaint for declaratory judgment and alleged breach of contract against OPKO Lab in the Chancery Court for Davidson County, Tennessee, asserting that OPKO Lab breached his employment agreement and owed him additional compensation and further compensation for the value of OPKO Lab under a “compensation for sale” provision set forth in his employment agreement. The settlement did not have a material impact on our results of operations or financial condition. | |
In October 2012, we received a letter from counsel to Optos, Inc., (“Optos”) making certain indemnity claims against us in connection with the sale of our ophthalmic instrumentation business. In October 2013, we entered into a settlement agreement with Optos that resulted in payments to us and resolved all pending claims between the parties, including a termination of future royalty obligations from Optos to us. | |
In July 2012, OPKO Lab received a letter from AdvanceMed Corporation (“AdvanceMed”) regarding a post-payment review conducted by AdvanceMed (the “Post-Payment Review Letter”). The Post-Payment Review Letter originated with a post payment review audit by AdvanceMed of 183 claims submitted by OPKO Lab to the Medicare program. OPKO Lab believes that its billing practices were appropriate and it is following the appeal process set forth by Medicare. OPKO Lab received a partially favorable determination, which reduced the amount of the alleged overpayment, and it continues to appeal the remaining alleged overpayments. No assurances can be given about the outcome of the appeal. | |
We are a party to other litigation in the ordinary course of business. We do not believe that any such litigation will have a material adverse effect on our business, financial condition, or results of operations. | |
We expect to incur substantial losses as we continue the development of our product candidates, continue our other research and development activities, and establish a sales and marketing infrastructure in anticipation of the commercialization of our diagnostic and pharmaceutical product candidates. We currently have limited commercialization capabilities, and it is possible that we may never successfully commercialize any of our diagnostic and pharmaceutical product candidates. We do not currently generate revenue from any of our diagnostic and pharmaceutical product candidates. Our research and development activities are budgeted to expand over a period of time and will require further resources if we are to be successful. As a result, we believe that our operating losses are likely to be substantial over the next several years. We may need to obtain additional funds to further develop our research and development programs, and there can be no assurance that additional capital will be available to us on acceptable terms, or at all. |
Strategic_Alliances
Strategic Alliances | 12 Months Ended |
Dec. 31, 2013 | |
Strategic Alliances [Abstract] | ' |
Strategic Alliances | ' |
Strategic Alliances | |
We plan to develop a portfolio of product candidates through a combination of internal development and external partnerships. In December 2010, we entered into a definitive agreement granting TESARO exclusive rights to the development, manufacture, commercialization and distribution of rolapitant and a related compound. Refer to Note 3. We have also completed strategic deals with the UT Southwestern, Washington University, INEOS Healthcare, TSRI, the President and Fellows of Harvard College, and Academia Sinica, among others. In connection with these license agreements, upon the achievement of certain milestones we are obligated to make certain payments and have royalty obligations upon sales of products developed under the license agreements. At this time, we are unable to estimate the timing and amounts of payments as the obligations are based on future development of the licensed products. |
Leases
Leases | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Leases | ' | |||
Leases | ||||
We conduct certain of our operations under operating lease agreements. Rent expense under operating leases from continuing operations was approximately $1.9 million, $1.3 million, and $0.7 million for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||
As of December 31, 2013, the aggregate future minimum lease payments under all non-cancelable operating leases with initial or remaining lease terms in excess of one year are as follows: | ||||
Year Ending | (In thousands) | |||
2014 | $ | 2,660 | ||
2015 | 1,841 | |||
2016 | 1,565 | |||
2017 | 951 | |||
2018 | 566 | |||
Thereafter | — | |||
Total minimum lease commitments | $ | 7,583 | ||
Segments
Segments | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Segments | ' | |||||||||||
Segments | ||||||||||||
We currently manage our operations in two reportable segments: pharmaceuticals and diagnostics. The pharmaceuticals segment consists of two operating segments, our (i) pharmaceutical research and development segment, which is focused on the research and development of pharmaceutical products and vaccines, and (ii) the pharmaceutical operations we acquired in Chile, Mexico, Israel, Spain and Brazil. The diagnostics segment consists of two operating segments, our (i) pathology operations we acquired through the acquisition of OPKO Lab and (ii) point-of-care and molecular diagnostics operations. There are no inter-segment sales. We evaluate the performance of each segment based on operating profit or loss. There is no inter-segment allocation of interest expense and income taxes. | ||||||||||||
Information regarding our operations and assets for our operating segments and the unallocated corporate operations as well as geographic information are as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Product revenues: | ||||||||||||
Pharmaceuticals | $ | 68,161 | $ | 45,295 | $ | 27,844 | ||||||
Diagnostics | — | — | — | |||||||||
Corporate | — | — | — | |||||||||
$ | 68,161 | $ | 45,295 | $ | 27,844 | |||||||
Revenue from services: | ||||||||||||
Pharmaceuticals | $ | — | $ | — | $ | — | ||||||
Diagnostics | 10,833 | 395 | — | |||||||||
Corporate | 825 | 1,354 | 135 | |||||||||
$ | 11,658 | $ | 1,749 | $ | 135 | |||||||
Revenue from transfer of intellectual property: | ||||||||||||
Pharmaceuticals | $ | 15,160 | $ | — | $ | — | ||||||
Diagnostics | 1,551 | — | — | |||||||||
Corporate | — | — | — | |||||||||
$ | 16,711 | $ | — | $ | — | |||||||
Operating loss from continuing operations: | ||||||||||||
Pharmaceuticals | $ | (29,809 | ) | $ | (6,797 | ) | $ | (3,668 | ) | |||
Diagnostics | (22,199 | ) | (14,259 | ) | (3,984 | ) | ||||||
Corporate | (24,473 | ) | (15,628 | ) | (15,537 | ) | ||||||
Less: Operating loss attributable to noncontrolling interests | (3,151 | ) | (585 | ) | — | |||||||
$ | (79,632 | ) | $ | (37,269 | ) | $ | (23,189 | ) | ||||
Depreciation and amortization: | ||||||||||||
Pharmaceuticals | $ | 8,234 | $ | 6,367 | $ | 2,804 | ||||||
Diagnostics | 6,833 | 3,614 | 856 | |||||||||
Corporate | 149 | 179 | 170 | |||||||||
$ | 15,216 | $ | 10,160 | $ | 3,830 | |||||||
Net loss from investment in investees: | ||||||||||||
Pharmaceuticals | (11,456 | ) | (2,062 | ) | (1,589 | ) | ||||||
Diagnostics | — | — | — | |||||||||
Corporate | — | — | — | |||||||||
$ | (11,456 | ) | $ | (2,062 | ) | $ | (1,589 | ) | ||||
Revenues: | ||||||||||||
U.S. | $ | 28,369 | $ | 1,749 | $ | 135 | ||||||
Chile | 31,650 | 26,514 | 21,466 | |||||||||
Spain | 18,800 | 6,124 | — | |||||||||
Israel | 13,252 | 7,655 | — | |||||||||
Mexico | 4,459 | 5,002 | 6,378 | |||||||||
$ | 96,530 | $ | 47,044 | $ | 27,979 | |||||||
(In thousands) | December 31, | December 31, | ||||||||||
2013 | 2012 | |||||||||||
Assets: | ||||||||||||
Pharmaceuticals | $ | 1,065,033 | $ | 142,299 | ||||||||
Diagnostics | 116,944 | 112,422 | ||||||||||
Corporate | 209,539 | 35,109 | ||||||||||
$ | 1,391,516 | $ | 289,830 | |||||||||
Goodwill: | ||||||||||||
Pharmaceuticals | $ | 175,408 | $ | 32,844 | ||||||||
Diagnostics | 50,965 | 47,606 | ||||||||||
Corporate | — | — | ||||||||||
$ | 226,373 | $ | 80,450 | |||||||||
During the years ended December 31, 2013 and 2012, no customer represented more than 10% of our total revenue. During the year ended December 31, 2011, one customer represented 17% of our product revenue. As of December 31, 2013 and 2012, no customer represented more than 10% of our accounts receivable balance. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Fair Value Measurements | ' | |||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||
We record fair value at an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. We utilize a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. | ||||||||||||||||||||
A summary of our investments classified as available for sale, and carried at fair value, is as follows: | ||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||
(In thousands) | Amortized | Gross | Gross | Gain/(Loss) | Fair | |||||||||||||||
Cost | unrealized | unrealized | in | value | ||||||||||||||||
gains in | losses in | Accumulated | ||||||||||||||||||
Accumulated | Accumulated | Deficit | ||||||||||||||||||
OCI | OCI | |||||||||||||||||||
Common stock investments, available for sale | $ | 3,376 | $ | 2,698 | $ | — | $ | — | $ | 6,074 | ||||||||||
Common stock options/warrants | 925 | 1,041 | — | 4,022 | 5,988 | |||||||||||||||
Total assets | $ | 4,301 | $ | 3,739 | $ | — | $ | 4,022 | $ | 12,062 | ||||||||||
As of December 31, 2012 | ||||||||||||||||||||
(In thousands) | Amortized | Gross | Gross | Gain/(Loss) | Fair | |||||||||||||||
Cost | unrealized | unrealized | in | value | ||||||||||||||||
gains in | losses in | Accumulated | ||||||||||||||||||
Accumulated | Accumulated | Deficit | ||||||||||||||||||
OCI | OCI | |||||||||||||||||||
Common stock investments, available for sale | $ | 2,051 | $ | 6,185 | $ | — | $ | — | $ | 8,236 | ||||||||||
BZNE Note and conversion feature | 1,700 | 53 | — | 287 | 2,040 | |||||||||||||||
Common stock options | 925 | 293 | — | 176 | 1,394 | |||||||||||||||
Common stock warrants | 659 | 194 | — | (375 | ) | 478 | ||||||||||||||
Total assets | $ | 5,335 | $ | 6,725 | $ | — | $ | 88 | $ | 12,148 | ||||||||||
Any future fluctuation in fair value related to these instruments that is judged to be temporary, including any recoveries of previous write-downs, will be recorded in Accumulated other comprehensive income or loss. If we determine that any future valuation adjustment was other-than-temporary, we will record a loss during the period such determination is made. | ||||||||||||||||||||
As of December 31, 2013, we have money market funds that qualify as cash equivalents, forward contracts for inventory purchases (Refer to Note 19) and contingent consideration related to the acquisitions of CURNA, Inc. (“CURNA”), Claros Diagnostics, Inc. (“OPKO Diagnostics”), FineTech Pharmaceuticals, Ltd. (“FineTech”), Farmadiet, and Cytochroma that are required to be measured at fair value on a recurring basis. In addition, in connection with our investment and our consulting agreement with Neovasc, we record the related Neovasc options and warrants at fair value as well as the derivative instruments related to our transactions with Pharmsynthez. | ||||||||||||||||||||
Our financial assets and liabilities measured at fair value on a recurring basis are as follows: | ||||||||||||||||||||
Fair value measurements as of December 31, 2013 | ||||||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total | ||||||||||||||||
prices in | other | unobservable | ||||||||||||||||||
active | observable | inputs | ||||||||||||||||||
markets for | inputs | (Level 3) | ||||||||||||||||||
identical | (Level 2) | |||||||||||||||||||
assets | ||||||||||||||||||||
(Level 1) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Money market funds | $ | 168,418 | $ | — | $ | — | $ | 168,418 | ||||||||||||
Certificates of deposit | — | 827 | — | 827 | ||||||||||||||||
Pharmsynthez Notes Receivable & Purchase Option | — | 6,151 | — | 6,151 | ||||||||||||||||
Common stock investments, available for sale | 6,074 | — | — | 6,074 | ||||||||||||||||
Common stock options/warrants | — | 5,988 | — | 5,988 | ||||||||||||||||
Forward contracts | — | 49 | — | 49 | ||||||||||||||||
Total assets | $ | 174,492 | $ | 13,015 | $ | — | $ | 187,507 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Embedded conversion option | — | — | 101,087 | 101,087 | ||||||||||||||||
Deferred acquisition payments, net of discount | — | — | 5,465 | 5,465 | ||||||||||||||||
Contingent consideration: | ||||||||||||||||||||
CURNA | — | — | 573 | 573 | ||||||||||||||||
OPKO Diagnostics | — | — | 13,776 | 13,776 | ||||||||||||||||
FineTech | — | — | 3,124 | 3,124 | ||||||||||||||||
Cytochroma | — | — | 53,092 | 53,092 | ||||||||||||||||
Farmadiet | — | — | 1,043 | 1,043 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 178,160 | $ | 178,160 | ||||||||||||
Fair value measurements as of December 31, 2012 | ||||||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total | ||||||||||||||||
prices in | other | unobservable | ||||||||||||||||||
active | observable | inputs | ||||||||||||||||||
markets for | inputs | (Level 3) | ||||||||||||||||||
identical | (Level 2) | |||||||||||||||||||
assets | ||||||||||||||||||||
(Level 1) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Money market funds | $ | 18,716 | $ | — | $ | — | $ | 18,716 | ||||||||||||
Certificates of deposit | — | 820 | — | 820 | ||||||||||||||||
Common stock investments, available for sale | 8,236 | — | — | 8,236 | ||||||||||||||||
BZNE Note and conversation feature | — | — | 2,040 | 2,040 | ||||||||||||||||
Neovasc common stock options | — | 1,394 | — | 1,394 | ||||||||||||||||
Neovasc common stock warrants | — | 478 | — | 478 | ||||||||||||||||
Total assets | $ | 26,952 | $ | 2,692 | $ | 2,040 | $ | 31,684 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Forward contracts | $ | — | $ | 10 | $ | — | $ | 10 | ||||||||||||
Deferred acquisition payments, net of discount | — | — | 10,103 | 10,103 | ||||||||||||||||
Contingent consideration: | ||||||||||||||||||||
CURNA | — | — | 510 | 510 | ||||||||||||||||
OPKO Diagnostics | — | — | 12,974 | 12,974 | ||||||||||||||||
FineTech | — | — | 5,262 | 5,262 | ||||||||||||||||
Farmadiet | — | — | 1,310 | 1,310 | ||||||||||||||||
Total liabilities | $ | — | $ | 10 | $ | 30,159 | $ | 30,169 | ||||||||||||
The carrying amount and estimated fair value of our long-term debt, as well as the applicable fair value hierarchy tiers, are contained in the table below. The fair value of the 2033 Senior Notes is determined using a binomial lattice approach in order to estimate the fair value of the embedded derivative in the 2033 Senior Notes. Refer to Note 6. | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
(In thousands) | Carrying | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||
Value | Fair Value | |||||||||||||||||||
2033 Senior Notes | $ | 110,825 | $ | 116,993 | $ | — | $ | — | $ | 116,993 | ||||||||||
As of December 31, 2013 and 2012, the carrying value of our other assets and liabilities approximates their fair value due to their short-term nature. | ||||||||||||||||||||
The following tables reconcile the beginning and ending balances of our Level 3 assets and liabilities as of December 31, 2013 and 2012: | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
(In thousands) | BZNE Note | Contingent | Deferred | Embedded | ||||||||||||||||
and | consideration | acquisition | conversion | |||||||||||||||||
conversion | payments, net | option | ||||||||||||||||||
feature | of discount | |||||||||||||||||||
Balance at December 31, 2012 | $ | 2,040 | $ | 20,056 | $ | 10,103 | $ | — | ||||||||||||
Additions | — | 47,710 | — | 59,204 | ||||||||||||||||
Total losses (gains) for the period: | ||||||||||||||||||||
Included in results of operations | — | 6,947 | 829 | 43,082 | ||||||||||||||||
Foreign currency remeasurement | 31 | |||||||||||||||||||
Conversion | (2,040 | ) | — | — | (1,199 | ) | ||||||||||||||
Payments | — | (3,124 | ) | (5,448 | ) | — | ||||||||||||||
Balance at December 31, 2013 | $ | — | $ | 71,620 | $ | 5,484 | $ | 101,087 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
(In thousands) | BZNE Note | Contingent | Deferred | |||||||||||||||||
and | consideration | acquisition | ||||||||||||||||||
conversion | payments, net | |||||||||||||||||||
feature | of discount | |||||||||||||||||||
Balance at December 31, 2011 | $ | — | $ | 18,002 | $ | — | ||||||||||||||
Additions | 1,700 | 1,234 | 9,673 | |||||||||||||||||
Total losses (gains) for the period: | ||||||||||||||||||||
Included in results of operations | 1,563 | 820 | 430 | |||||||||||||||||
Included in Other comprehensive loss | 53 | — | — | |||||||||||||||||
Transfer out to equity method investment | (1,276 | ) | — | — | ||||||||||||||||
Balance at December 31, 2012 | $ | 2,040 | $ | 20,056 | $ | 10,103 | ||||||||||||||
The estimated fair values of our financial instruments have been determined by using available market information and what we believe to be appropriate valuation methodologies. We use the following methods and assumptions in estimating fair value: | ||||||||||||||||||||
BZNE Notes and conversion feature - The stock market activity in BZNE does not represent an active market and as such, we determined the fair market value utilizing a business enterprise valuation approach in order to determine the fair value of our investment. The most significant assumptions are the projected revenue growth and operating income (loss). The impact of a change in any of our significant underlying assumptions +/-1% would not result in a materially different fair value. We converted the BZNE Notes into common stock in December 2013. | ||||||||||||||||||||
Contingent consideration – We estimate the fair value of the contingent consideration utilizing a discounted cash flow model for the expected payments based on estimated timing and expected revenues. We use several discount rates depending on each type of contingent consideration related to FineTech, OPKO Diagnostics, CURNA, Farmadiet and Cytochroma transactions. The discount rates used range from 6% to 27% and were based on the weighted average cost of capital for those businesses. If the discount rates were to increase by 1%, on each transaction, the contingent consideration would decrease by $1.7 million. If estimated future sales were to decrease by 10%, the contingent consideration related to CURNA, FineTech and Cytochroma would decrease by $0.7 million. As of December 31, 2013, of the $71.6 million of contingent consideration, $28.0 million is recorded in Accrued expenses and $43.6 million is recorded in Other long-term liabilities. As of December 31, 2012, of the $20.1 million of contingent consideration, $5.1 million is recorded in Accrued expenses and $15.0 million is recorded in Other long-term liabilities. | ||||||||||||||||||||
Deferred payments – We estimate the fair value of the deferred payments utilizing a discounted cash flow model for the expected payments. | ||||||||||||||||||||
Embedded conversion option – We estimate the fair value of the embedded conversion option related to the 2033 Senior Notes using a binomial lattice model. Refer to Note 6 for detail description of the binomial lattice model and the fair value assumptions used. | ||||||||||||||||||||
Pharmsynthez Note Receivable and Purchase Option - We determined the fair value of the Pharmsynthez Note Receivable and Purchase Option using a number of Black-Scholes scenarios simulating changes in Pharmsynthez’s common stock price. |
Derivative_Contracts
Derivative Contracts | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||
Derivative Contracts | ' | ||||||||||||
Derivative Contracts | |||||||||||||
The following table summarizes the fair values and the presentation of our derivative financial instruments in the Consolidated Balance Sheets: | |||||||||||||
(In thousands) | Balance Sheet Component | December 31, | December 31, | ||||||||||
2013 | 2012 | ||||||||||||
Derivative financial instruments: | |||||||||||||
Pharmsynthez Note Receivable and | Prepaid expenses and other current assets | $ | 6,151 | $ | — | ||||||||
Purchase Option | |||||||||||||
Common stock options/warrants | Investments, net | $ | 5,988 | $ | 1,872 | ||||||||
Embedded conversion option | 3.00% convertible senior notes, net of discount | $ | 101,087 | $ | — | ||||||||
and estimated fair value of embedded | |||||||||||||
derivatives | |||||||||||||
Forward contracts (1) | Current portion of lines of credit and notes | $ | 1,585 | $ | 1,294 | ||||||||
payable | |||||||||||||
-1 | The loss on forward contracts is recorded in Accrued expenses. The gain on the forward contracts is recorded in Prepaid expenses and other current assets. | ||||||||||||
We enter into foreign currency forward exchange contracts to cover the risk of exposure to exchange rate differences arising from inventory purchases on letters of credit. Under these forward contracts, for any rate above or below the fixed rate, we receive or pay the difference between the spot rate and the fixed rate for the given amount at the settlement date. | |||||||||||||
To qualify the derivative instrument as a hedge, we are required to meet strict hedge effectiveness and contemporaneous documentation requirements at the initiation of the hedge and assess the hedge effectiveness on an ongoing basis over the life of the hedge. At December 31, 2013 and 2012, our derivative financial instruments do not meet the documentation requirements to be designated as hedges. Accordingly, we recognize the changes in Fair value of derivative instruments, net in our Consolidated Statements of Operations. The following table summarizes the (losses) and gains recorded during the three and years ended December 31, 2013 and 2012: | |||||||||||||
For the years ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Derivative gain (loss): | |||||||||||||
Pharmsynthez Note Receivable and Purchase Option | $ | 1,936 | $ | — | $ | — | |||||||
Common stock options/warrants and BZNE Note conversion feature (1) | 4,608 | 1,350 | (77 | ) | |||||||||
Notes | (43,082 | ) | — | — | |||||||||
Forward contracts | 49 | (10 | ) | 38 | |||||||||
Total | $ | (36,489 | ) | $ | 1,340 | $ | (39 | ) | |||||
-1 | BZNE Note conversion feature for 2012 only | ||||||||||||
The outstanding forward contracts at December 31, 2013 and 2012 have been recorded at fair value and their maturity details are as follows: | |||||||||||||
(In thousands) | Contract value | Fair value at | Effect on income (loss) | ||||||||||
Days until maturity | December 31, 2013 | ||||||||||||
0 to 30 | $ | 472 | $ | 489 | $ | 17 | |||||||
31 to 60 | 562 | 579 | 18 | ||||||||||
61 to 90 | 503 | 517 | 14 | ||||||||||
91 to 120 | — | — | — | ||||||||||
121 to 180 | — | — | — | ||||||||||
More than 180 | — | — | — | ||||||||||
Total | $ | 1,537 | $ | 1,585 | $ | 49 | |||||||
(In thousands) | Contract value | Fair value at | Effect on income (loss) | ||||||||||
Days until maturity | December 31, 2012 | ||||||||||||
0 to 30 | $ | — | $ | — | $ | — | |||||||
31 to 60 | 581 | 577 | (4 | ) | |||||||||
61 to 90 | 341 | 339 | (2 | ) | |||||||||
91 to 120 | 212 | 210 | (2 | ) | |||||||||
121 to 180 | 170 | 168 | (2 | ) | |||||||||
More than 180 | — | — | — | ||||||||||
Total | $ | 1,304 | $ | 1,294 | $ | (10 | ) | ||||||
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Selected Quarterly Financial Data (Unaudited) | ' | |||||||||||||||
Selected Quarterly Financial Data (Unaudited) | ||||||||||||||||
For the 2013 Quarters Ended | ||||||||||||||||
(In thousands, except per share data) | March 31 | June 30 | September 30 | December 31 | ||||||||||||
Total revenues | $ | 31,376 | $ | 23,821 | $ | 20,641 | $ | 20,692 | ||||||||
Total costs and expenses | 38,149 | 41,805 | 39,650 | 56,558 | ||||||||||||
Net loss | (34,763 | ) | (4,353 | ) | (60,801 | ) | (17,429 | ) | ||||||||
Net loss attributable to common shareholders | (34,635 | ) | (3,394 | ) | (59,998 | ) | (16,800 | ) | ||||||||
(Loss) income per share, basic and diluted: | $ | (0.11 | ) | $ | (0.01 | ) | $ | (0.16 | ) | $ | (0.04 | ) | ||||
For the 2012 Quarters Ended | ||||||||||||||||
(In thousands, except per share data) | March 31 | June 30 | September 30 | December 31 | ||||||||||||
Total revenues | $ | 8,777 | $ | 10,211 | $ | 11,795 | $ | 16,261 | ||||||||
Total costs and expenses | 17,624 | 19,552 | 21,163 | 25,974 | ||||||||||||
Net loss | (8,611 | ) | (10,244 | ) | (9,646 | ) | (1,039 | ) | ||||||||
Net loss attributable to common shareholders | (9,171 | ) | (10,805 | ) | (10,206 | ) | (1,106 | ) | ||||||||
(Loss) income per share, basic and diluted: | $ | (0.03 | ) | $ | (0.04 | ) | $ | (0.03 | ) | $ | — | |||||
Due to rounding, the quarterly per share amounts may not mathematically compute to the annual amount. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
We have reviewed all subsequent events and transactions that occurred after the date of our December 31, 2013 Consolidated Balance Sheet date, through the time of filing this Annual Report on Form 10-K. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation. The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. and with the instructions to Form 10-K and of Regulation S-X. The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. | |
Use of Estimates | ' |
Use of Estimates. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. 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 from those estimates. | |
Cash and cash equivalents | ' |
Cash and cash equivalents. Cash and cash equivalents include short-term, interest-bearing instruments with original maturities of 90 days or less at the date of purchase. We also consider all highly liquid investments with original maturities at the date of purchase of 90 days or less as cash equivalents. These investments include money markets, bank deposits, certificates of deposit and U.S. treasury securities. | |
Inventories | ' |
Inventories. Inventories are valued at the lower of cost or market (net realizable value). Cost is determined by the first-in, first-out method. We consider such factors as the amount of inventory on hand, estimated time required to sell such inventories, remaining shelf-life, and current market conditions to determine whether inventories are stated at the lower of cost or market. | |
Shipping and Handling Costs | ' |
Shipping and Handling Costs. We do not charge customers for shipping and handling costs. Shipping and handling costs are classified as Cost of revenues in the Consolidated Statements of Operations. | |
Property, Plant, Equipment and Investment Properties | ' |
Property, Plant, Equipment and Investment Properties. Property, plant, equipment and investment properties are recorded at cost. Depreciation is provided using the straight-line method over the estimated useful lives of the assets, generally five to ten years and includes amortization expense for assets capitalized under capital leases. The estimated useful lives by asset class are as follows: software – 3 years, machinery and equipment – 5-8 years, furniture and fixtures – 5-10 years, leasehold improvements – the lesser of their useful life or the lease term, buildings and improvements – 10-40 years. Expenditures for repairs and maintenance are charged to expense as incurred, while betterments reduce accumulated depreciation. Depreciation expense from continuing operations was $4.1 million, $1.8 million, and $0.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Goodwill and Intangible Assets | ' |
Goodwill and Intangible Assets. Goodwill represents the difference between the purchase price and the estimated fair value of the net assets acquired when accounted for by the purchase method of accounting and arose from our acquisitions of Pharma Genexx, S.A. (“OPKO Chile”), Pharmacos Exakta S.A. de C.V. (“Exakta-OPKO”), CURNA, Inc. (“CURNA”), Claros Diagnostics, Inc. (“OPKO Diagnostics”), FineTech Pharmaceuticals, Ltd. (“FineTech”), ALS Distribuidora Limitada (“ALS”), Farmadiet Group Holding, S.L. (“Farmadiet”), Prost-Data, Inc. (“OPKO Lab”), Cytochroma Inc. (“Cytochroma”), Silcon Comércio, Importacao E Exportacao de Produtos Farmaceuticos e Cosmeticos Ltda. (“OPKO Brazil”) and PROLOR Biotech, Inc. (“PROLOR”). Goodwill, in-process research and development (“IPR&D”) and other intangible assets acquired in business combinations, licensing and other transactions at December 31, 2013 and December 31, 2012 were $1.1 billion and $0.2 billion, respectively. | |
Assets acquired and liabilities assumed in business combinations, licensing and other transactions are recognized at the date of acquisition at their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recognized as goodwill. We determined the fair value of intangible assets, including IPR&D, using the “income method.” | |
Goodwill is tested at least annually for impairment, or when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable, on an enterprise level by assessing qualitative factors or performing a quantitative analysis in determining whether it is more likely than not that its fair value exceeds the carrying value. | |
We amortize intangible assets with definite lives on a straight-line basis over their estimated useful lives, ranging from 3 to 10 years, and review for impairment at least annually, or when events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. We use the straight-line method of amortization as there is no reliably determinable pattern in which the economic benefits of our intangible assets are consumed or otherwise used up. Amortization expense from continuing operations was $11.1 million, $8.3 million, and $3.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. Amortization expense from continuing operations for our intangible assets is expected to be $11.0 million, $10.5 million, $9.6 million, $9.4 million and $7.1 million, respectively, for the years ended December 31, 2014, 2015, 2016, 2017, and 2018. | |
Impairment of Long-Lived Assets | ' |
Impairment of Long-Lived Assets. Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, then an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value, or carrying amount for cost basis assets, of the asset. | |
Fair value measurements | ' |
Fair value measurements. The carrying amounts of our cash and cash equivalents, accounts receivable and accounts payable approximate their fair value due to the short-term maturities of these instruments. Investments that are considered available for sale as of December 31, 2013 and 2012 are carried at fair value. | |
Short-term investments, which we invest in from time to time, include bank deposits, corporate notes, U.S. treasury securities and U.S. government agency securities with original maturities of greater than 90 days and remaining maturities of less than one year. Long-term investments include corporate notes, U.S. treasury securities and U.S. government agency securities with maturities greater than one year. | |
In evaluating the fair value information, considerable judgment is required to interpret the market data used to develop the estimates. The use of different market assumptions and/or different valuation techniques may have a material effect on the estimated fair value amounts. Accordingly, the estimates of fair value presented herein may not be indicative of the amounts that could be realized in a current market exchange. | |
Contingent consideration | ' |
Contingent consideration. Each period we revalue the contingent consideration obligations associated with certain acquisitions to their fair value and record increases in the fair value as contingent consideration expense and decreases in the fair value as contingent consideration income. Changes in contingent consideration result from changes in the assumptions regarding probabilities of successful achievement of related milestones, the estimated timing in which the milestones are achieved and the discount rate used to estimate the fair value of the liability. Contingent consideration may change significantly as our development programs progress, revenue estimates evolve and additional data is obtained, impacting our assumptions. The assumptions used in estimating fair value require significant judgment. The use of different assumptions and judgments could result in a materially different estimate of fair value which may have a material impact on our results from operations and financial position. | |
Derivative financial instruments | ' |
Derivative financial instruments. We record derivative financial instruments on our Consolidated Balance Sheet at their fair value and recognize the changes in the fair value in our Consolidated Statement of Operations, when they occur, the only exception being derivatives that qualify as hedges. For the derivative instrument to qualify as a hedge, we are required to meet strict hedge effectiveness and contemporaneous documentation requirements at the initiation of the hedge and assess the hedge effectiveness on an ongoing basis over the life of the hedge. At December 31, 2013 and 2012, our forward contracts for inventory purchases did not meet the documentation requirements to be designated as hedges. Accordingly, we recognize all changes in the fair values of our derivatives instruments in Fair value changes of derivatives instruments, net, in our Consolidated Statement of Operations. | |
Research and development expenses | ' |
Research and development expenses. Research and development expenses include external and internal expenses, partially offset by third-party grants and fundings arising from collaboration agreements. External expenses include clinical and non-clinical activities performed by contract research organizations, lab services, purchases of drug and diagnostic product materials and manufacturing development costs. Research and development employee-related expenses include salaries, benefits and stock-based compensation expense. Other unallocated internal research and development expenses are incurred to support overall research and development activities and include expenses related to general overhead and facilities. We expense these costs in the period in which they are incurred. We estimate our liabilities for research and development expenses in order to match the recognition of expenses to the period in which the actual services are received. As such, accrued liabilities related to third party research and development activities are recognized based upon our estimate of services received and degree of completion of the services in accordance with the specific third party contract. | |
We record expense for in-process research and development projects acquired as asset acquisitions which have not reached technological feasibility and which have no alternative future use. For in-process research and development projects acquired in business combinations, the in-process research and development project is capitalized and evaluated for impairment until the development process has been completed. Once the development process has been completed the asset will be amortized over its remaining useful life. | |
Income Taxes | ' |
Income Taxes. Income taxes are accounted for under the asset-and-liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. We periodically evaluate the realizability of our net deferred tax assets. Our tax accruals are analyzed periodically and adjustments are made as events occur to warrant such adjustment. | |
Loss Per Share | ' |
Loss Per Share. Basic loss per share is computed by dividing our net loss by the weighted average number of shares outstanding during the period. Diluted loss per share is computed by dividing our net loss increased by dividends on preferred stock by the weighted average number of shares outstanding and the impact of all dilutive potential common shares, primarily stock options. The dilutive impact of stock options and warrants is determined by applying the “treasury stock” method. In the periods in which their effect would be anti-dilutive, no effect has been given to outstanding options, warrants or convertible Preferred Stock in the diluted computation. Potentially dilutive shares issuable pursuant to the 2033 Senior Notes (defined in Note 6) were not included in the computation of net loss per share for the year ended December 31, 2013, because their inclusion would be anti-dilutive. | |
A total of 32,105,859, 26,695,436 and 26,661,326 potential shares of Common Stock have been excluded from the calculation of net loss per share for the years ended December 31, 2013, 2012 and 2011, respectively, because their inclusion would be anti-dilutive. During the year ended December 31, 2013, 10,881,570 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 10,732,745 shares of Common Stock. Of the 10,881,570 Common Stock options and Common Stock warrants exercised, 148,825 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements. During the year ended December 31, 2012, 1,086,361 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 1,084,982 shares of Common Stock. Of the 1,086,361 Common Stock options and Common Stock warrants exercised, 1,379 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements. During year ended December 31, 2011, 3,702,497 Common Stock options and Common Stock warrants to purchase shares of our Common Stock were exercised, resulting in the issuance of 3,348,394 shares of Common Stock. Of the 3,702,497 Common Stock options and Common Stock warrants exercised, 354,103 shares of Common Stock were surrendered in lieu of a cash payment via the net exercise feature of the warrant agreements | |
Revenue recognition | ' |
Revenue recognition. Generally, we recognize revenue from product sales when goods are shipped and title and risk of loss transfer to our customers. Our estimates for sales returns and allowances are based upon the historical patterns of product returns and allowances taken, matched against the sales from which they originated, and management’s evaluation of specific factors that may increase or decrease the risk of product returns. | |
Revenue for laboratory services is recognized on the accrual basis at the time test results are reported, which approximates when services are provided. Services are provided to certain patients covered by various third-party payer programs including various managed care organizations, as well as the Medicare and Medicaid programs. Billings for services under third-party payer programs are included in sales net of allowances for contractual discounts and allowances for differences between the amounts billed and estimated program payment amounts. Adjustments to the estimated payment amounts based on final settlement with the programs are recorded upon settlement as an adjustment to revenue. For the years ended December 31, 2013, 2012 and 2011, respectively, revenue from other services included $0.2 million, $1.4 million and $0.1 million respectively, of revenue related to our consulting agreement with Neovasc and to revenue related to molecular diagnostics collaboration agreements. We recognize this revenue on a straight-line basis over the contractual term of the agreements. | |
Revenue from transfer of intellectual property includes revenue related to the sale, license or transfer of intellectual property such as upfront license payments, license fees and milestone payments received through our license, collaboration and commercialization agreements. We analyze our multiple-element arrangements to determine whether the elements can be separated and accounted for individually as separate units of accounting. | |
Non-refundable license fees for the out-license of our technology are recognized depending on the provisions of each agreement. We recognize non-refundable upfront license payments as revenue upon receipt if the license has standalone value and the fair value of our undelivered obligations, if any, can be determined. If the license is considered to have standalone value but the fair value of any of the undelivered items cannot be determined, the license payments are recognized as revenue over the period of our performance for such undelivered items or services. License fees with ongoing involvement or performance obligations are recorded as deferred revenue, included in Accrued expenses or Other long-term liabilities, when received and generally are recognized ratably over the period of such performance obligation only after both the license period has commenced and we have delivered the technology. | |
The assessment of our obligations and related performance periods requires significant management judgment. If an agreement contains research and development obligations, the relevant time period for the research and development phase is based on management estimates and could vary depending on the outcome of clinical trials and the regulatory approval process. Such changes could materially impact the revenue recognized, and as a result, management reviews the estimates related to the relevant time period of research and development on a quarterly basis. For the year ended December 31, 2013, we recorded $16.7 million of revenue from the transfer of intellectual property, of which $12.5 million related to the sale of substantially all of our assets in the field of RNA interference to RXi Pharmaceuticals Corporation (“RXi”) and $3.8 million related to the rights granted to OAO Pharmsynthez (“Pharmsynthez”) of certain technologies. Refer to Note 3. For the years ended December 31, 2012 and 2011, we recorded no revenues from the transfer of intellectual property, respectively. | |
Revenue from milestone payments related to arrangements under which we have continuing performance obligations are recognized as Revenue from transfer of intellectual property upon achievement of the milestone only if all of the following conditions are met: the milestone payments are non-refundable; there was substantive uncertainty at the date of entering into the arrangement that the milestone would be achieved; the milestone is commensurate with either the vendor’s performance to achieve the milestone or the enhancement of the value of the delivered item by the vendor; the milestone relates solely to past performance; and the amount of the milestone is reasonable in relation to the effort expended or the risk associated with the achievement of the milestone. If any of these conditions are not met, the milestone payments are not considered to be substantive and are, therefore, deferred and recognized as Revenue from transfer of intellectual property over the term of the arrangement as we complete our performance obligations. | |
Allowance for doubtful accounts | ' |
Allowance for doubtful accounts. We analyze accounts receivable and historical bad debt levels, customer credit worthiness and current economic trends when evaluating the adequacy of the allowance for doubtful accounts using the specific identification method. Our reported net loss is directly affected by our estimate of the collectability of accounts receivable. | |
Product Warranties | ' |
Product Warranties. Product warranty expenses are recorded concurrently with the recording of revenue for product sales. The costs of warranties are recorded as a component of cost of sales. We estimate warranty costs based on our estimated historical experience and adjust for any known product reliability issues. | |
Equity-based compensation | ' |
Equity-based compensation. We measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized in the Consolidated Statement of Operations over the period during which an employee is required to provide service in exchange for the award. We record excess tax benefits, realized from the exercise of stock options as a financing cash inflow rather than as a reduction of taxes paid in cash flow from operations. Equity-based compensation arrangements to non-employees are recorded at their fair value on the measurement date. The measurement of equity-based compensation is subject to periodic adjustment as the underlying equity instruments vest. | |
Segment reporting | ' |
Segment reporting. Our chief operating decision-maker (“CODM”) is comprised of our executive management with the oversight of our Board of Directors. Our CODM reviews our operating results and operating plans and makes resource allocation decisions on a Company-wide or aggregate basis. We currently manage our operations in two reportable segments, pharmaceuticals and diagnostics. The pharmaceuticals segment consists of two operating segments, our (i) pharmaceutical research and development segment which is focused on the research and development of pharmaceutical products and vaccines, and (ii) the pharmaceutical operations we acquired in Chile, Mexico, Israel, Spain and Brazil. The diagnostics segment consists of two operating segments, our (i) pathology operations we acquired through the acquisition of OPKO Lab and (ii) point-of-care and molecular diagnostics operations. There are no inter-segment sales. We evaluate the performance of each segment based on operating profit or loss. There is no inter-segment allocation of interest expense and income taxes. | |
Variable interest entities | ' |
Variable interest entities. The consolidation of variable interest entities (“VIE”) is required when an enterprise has a controlling financial interest. A controlling financial interest in a VIE will have both of the following characteristics: (a) the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE. | |
Investments | ' |
Investments. We have made strategic investments in development stage and emerging companies. We record these investments as equity method investments or investments available for sale based on our percentage of ownership and whether we have significant influence over the operations of the investees. For investments classified under the equity method of accounting, we record our proportionate share of their losses in Losses from investments in investees in our Consolidated Statement of Operations. Refer to Note 3. For investments classified as available for sale, we record changes in their fair value as unrealized gain or loss in Other comprehensive loss based on their closing price per share at the end of each reporting period. | |
Recent accounting pronouncements | ' |
Recent accounting pronouncements. In February 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-2, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, (“ASU 2013-2”). ASU 2013-2 requires the presentation of reclassifications out of accumulated other comprehensive income in either (1) the notes or (2) the face of the financial statements. We adopted ASU 2013-2 for our first quarter ended March 31, 2013. The adoption of ASU 2013-2 did not have a material impact in our Consolidated Financial Statements, but did require certain additional disclosures. Refer to Note 7. | |
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 is intended to eliminate inconsistent practices regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is available to reduce the taxable income or tax payable that would result from the disallowance of a tax position. This ASU will be effective for our fiscal year beginning January 1, 2014 and subsequent interim periods. The adoption of ASU 2013-11 is not expected to have a material effect on our Consolidated Financial Statements. |
Acquisitions_Investments_and_L1
Acquisitions, Investments, and Licenses (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||||||
Pro forma disclosure for acquisitions | ' | |||||||||||||||||||
The following table presents the pro forma results of the acquisitions of Cytochroma and PROLOR for the years ended December 31, 2013 and 2012 as if those acquisitions had been completed as of the beginning of each period, respectively. | ||||||||||||||||||||
For the years ended December 31, | ||||||||||||||||||||
(In thousands, except per share amounts) | 2013 | 2012 | ||||||||||||||||||
Revenues | $ | 96,530 | $ | 53,595 | ||||||||||||||||
Loss from continuing operations | $ | — | $ | (63,479 | ) | |||||||||||||||
Net loss | $ | (147,546 | ) | $ | (55,663 | ) | ||||||||||||||
Net loss attributable to common shareholders | $ | (145,027 | ) | $ | (57,411 | ) | ||||||||||||||
Basic and diluted loss from continuing operations per share | $ | (0.37 | ) | $ | (0.15 | ) | ||||||||||||||
Basic and diluted loss from discontinuing operations per share | $ | — | $ | — | ||||||||||||||||
Basic and diluted loss per share | $ | (0.37 | ) | $ | (0.15 | ) | ||||||||||||||
Maximum exposure of unconsolidated investments | ' | |||||||||||||||||||
The following table reflects our maximum exposure, accounting method, ownership interest and underlying equity in net assets of each of our unconsolidated investments as of December 31, 2013: | ||||||||||||||||||||
(Dollars in thousands, except per share prices) | Year | Accounting method | Ownership at | Investment | Underlying equity in net assets | Closing share price | ||||||||||||||
Investee name | invested | December 31, | at December 31, 2013 | |||||||||||||||||
2013 | for investments | |||||||||||||||||||
available for sale | ||||||||||||||||||||
Cocrystal | 2009 | Equity method | 16 | % | 2,500 | 205 | ||||||||||||||
Neovasc | 2011 | Equity method | 6 | % | 3,798 | 325 | ||||||||||||||
Fabrus | 2010 | VIE, equity method | 12 | % | 750 | (160 | ) | |||||||||||||
BZNE common stock | 2012 | VIE, equity method | 16 | % | 2,976 | (1,686 | ) | |||||||||||||
RXi | 2013 | Equity method | 19 | % | 15,000 | 2,444 | ||||||||||||||
Pharmsynthez | 2013 | Equity method | 11 | % | 5,036 | 5,156 | ||||||||||||||
Zebra | 2013 | VIE, equity method | 19 | % | 2,000 | 1,220 | ||||||||||||||
TESARO | 2010 | Investment available for sale | 1 | % | 56 | $ | 28.24 | |||||||||||||
Neovasc options | 2011 | Investment available for sale | N/A | 925 | CA | $ | 4.1 | |||||||||||||
ChromaDex | 2012 | Investment available for sale | 1 | % | 1,320 | $ | 1.52 | |||||||||||||
ARNO | 2013 | Investment available for sale | 5 | % | 2,000 | $ | 3.2 | |||||||||||||
Plus unrealized/realized gains on investments, options and warrants, net | 12,766 | |||||||||||||||||||
Less accumulated losses in investees | (18,474 | ) | ||||||||||||||||||
Total carrying value of equity method investees and investments, available for sale | $ | 30,653 | ||||||||||||||||||
Cytochroma and PROLOR [Member] | ' | |||||||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||||||
Estimated fair value of the net assets acquired and liabilities assumed in the acquisition of at the date of acquisition | ' | |||||||||||||||||||
The following table summarizes the preliminary purchase price allocation and the estimated fair value of the net assets acquired and liabilities assumed in the acquisitions of Cytochroma and PROLOR at the dates of acquisition, which are subject to change until contingencies that existed on the acquisition date are resolved: | ||||||||||||||||||||
(In thousands) | Cytochroma | PROLOR | ||||||||||||||||||
Current assets (1) | $ | 1,224 | $ | 21,500 | ||||||||||||||||
Intangible assets: | ||||||||||||||||||||
In-process research and development | 191,530 | 590,200 | ||||||||||||||||||
Patents | 210 | — | ||||||||||||||||||
Total intangible assets | 191,740 | 590,200 | ||||||||||||||||||
Goodwill | 2,411 | 139,784 | ||||||||||||||||||
Property, plant and equipment | 306 | 1,057 | ||||||||||||||||||
Other assets | — | 371 | ||||||||||||||||||
Accounts payable and accrued expenses | (1,069 | ) | (9,866 | ) | ||||||||||||||||
Deferred tax liability | — | (156,403 | ) | |||||||||||||||||
Total purchase price | $ | 194,612 | $ | 586,643 | ||||||||||||||||
(1)Current assets include cash of $0.4 million and $20.5 million related to the Cytochroma and PROLOR acquisitions, respectively. | ||||||||||||||||||||
OPKO Lab, Farmadiet and ALS [Member] | ' | |||||||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||||||
Estimated fair value of the net assets acquired and liabilities assumed in the acquisition of at the date of acquisition | ' | |||||||||||||||||||
The following table summarizes the estimated fair value of the net assets acquired and liabilities assumed in the acquisitions of OPKO Lab, Farmadiet and ALS at the dates of acquisition, which are subject to change while contingencies that existed on the acquisition dates are resolved: | ||||||||||||||||||||
(In thousands) | OPKO Lab | Farmadiet | ALS | |||||||||||||||||
Current assets(1)(2) | $ | 6,020 | $ | 8,367 | $ | 767 | ||||||||||||||
Intangible assets: | ||||||||||||||||||||
Customer relationships | 3,860 | 436 | — | |||||||||||||||||
Technology | 1,370 | 3,017 | — | |||||||||||||||||
In-process research and development | — | 1,459 | — | |||||||||||||||||
Product registrations | — | 2,930 | 2,300 | |||||||||||||||||
Licenses | 70 | — | — | |||||||||||||||||
Covenants not to compete | 6,900 | 187 | — | |||||||||||||||||
Tradename | 1,830 | 349 | 680 | |||||||||||||||||
Total intangible assets | 14,030 | 8,378 | 2,980 | |||||||||||||||||
Goodwill | 29,629 | 8,062 | 458 | |||||||||||||||||
Property, plant and equipment | 2,117 | 7,205 | 24 | |||||||||||||||||
Other assets | 37 | 611 | — | |||||||||||||||||
Accounts payable and accrued expenses(2) | (3,214 | ) | (3,438 | ) | (229 | ) | ||||||||||||||
Deferred tax liability | (6,356 | ) | (3,169 | ) | — | |||||||||||||||
Debt assumed | — | (7,829 | ) | — | ||||||||||||||||
Total purchase price | $ | 42,263 | $ | 18,187 | $ | 4,000 | ||||||||||||||
-1 | Current assets include cash of $1.1 million, $0.2 million and $33 thousand related to the OPKO Lab, Farmadiet and ALS acquisitions, respectively. | |||||||||||||||||||
-2 | Current assets, accounts payable and accrued expenses include $1.9 million, respectively for a contingency loss and offsetting indemnification asset. Refer to Note 14. | |||||||||||||||||||
SciVac [Member] | ' | |||||||||||||||||||
Business Acquisition [Line Items] | ' | |||||||||||||||||||
Summary of consolidated assets and non-recourse liabilities related to SciVac | ' | |||||||||||||||||||
The following table represents the consolidated assets and non-recourse liabilities related to SciVac as of December 31, 2013 and 2012. These assets are owned by, and these liabilities are obligations of, SciVac, not us. | ||||||||||||||||||||
December 31, | ||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||
Assets | ||||||||||||||||||||
Current assets: | ||||||||||||||||||||
Cash and cash equivalents | $ | 2 | $ | 174 | ||||||||||||||||
Accounts receivable, net | 283 | 387 | ||||||||||||||||||
Inventories, net | 1,696 | 1,092 | ||||||||||||||||||
Prepaid expenses and other current assets | 218 | 199 | ||||||||||||||||||
Total current assets | 2,199 | 1,852 | ||||||||||||||||||
Property, plant and equipment, net | 1,374 | 1,539 | ||||||||||||||||||
Intangible assets, net | 1,111 | 1,154 | ||||||||||||||||||
Goodwill | 1,821 | 796 | ||||||||||||||||||
Other assets | 261 | 231 | ||||||||||||||||||
Total assets | $ | 6,766 | $ | 5,572 | ||||||||||||||||
Liabilities | ||||||||||||||||||||
Current liabilities: | ||||||||||||||||||||
Accounts payable | $ | 1,136 | $ | 1,108 | ||||||||||||||||
Accrued expenses | 6,498 | 2,859 | ||||||||||||||||||
Notes payable | 1,537 | — | ||||||||||||||||||
Total current liabilities | 9,171 | 3,967 | ||||||||||||||||||
Other long-term liabilities | 1,240 | 1,529 | ||||||||||||||||||
Total liabilities | $ | 10,411 | $ | 5,496 | ||||||||||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||
Financial information for the discontinued operations presented in the Condensed Consolidated Statements of Operations | ' | |||||||
The following table presents summarized financial information for the discontinued operations presented in the Consolidated Statements of Operations for 2012 and 2011. There were no discontinued operations in 2013: | ||||||||
For the years ended December 31 | ||||||||
(In thousands) | 2012 | 2011 | ||||||
Total revenue | $ | — | $ | 4,254 | ||||
Operating income (loss) | 177 | (3,434 | ) | |||||
Gain on sale to Optos | — | 10,597 | ||||||
Income before provision for income taxes | 177 | 7,142 | ||||||
Net income | $ | 109 | $ | 5,181 | ||||
Composition_of_Certain_Financi1
Composition of Certain Financial Statement Captions (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||||
Compositions of Certain Financial Statement Captions [Abstract] | ' | |||||||||||||||||||||||||||||||||||
Composition of certain financial statement captions | ' | |||||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Accounts receivable, net: | ||||||||||||||||||||||||||||||||||||
Accounts receivable | $ | 21,652 | $ | 21,636 | ||||||||||||||||||||||||||||||||
Less: allowance for doubtful accounts | (1,885 | ) | (474 | ) | ||||||||||||||||||||||||||||||||
$ | 19,767 | $ | 21,162 | |||||||||||||||||||||||||||||||||
Inventories, net: | ||||||||||||||||||||||||||||||||||||
Finished products | $ | 13,374 | $ | 17,963 | ||||||||||||||||||||||||||||||||
Work in-process | 1,350 | 688 | ||||||||||||||||||||||||||||||||||
Raw materials | 4,132 | 4,923 | ||||||||||||||||||||||||||||||||||
Less: inventory reserve | (777 | ) | (1,313 | ) | ||||||||||||||||||||||||||||||||
$ | 18,079 | $ | 22,261 | |||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets: | ||||||||||||||||||||||||||||||||||||
Prepaid supplies | $ | 945 | $ | 443 | ||||||||||||||||||||||||||||||||
Prepaid insurance | 892 | 301 | ||||||||||||||||||||||||||||||||||
Pharmsynthez Note Receivable and Purchase Option | 6,151 | — | ||||||||||||||||||||||||||||||||||
Other receivables | 1,985 | 886 | ||||||||||||||||||||||||||||||||||
Taxes recoverable | 3,458 | 1,493 | ||||||||||||||||||||||||||||||||||
Other | 5,653 | 4,750 | ||||||||||||||||||||||||||||||||||
$ | 19,084 | $ | 7,873 | |||||||||||||||||||||||||||||||||
Property and equipment, net: | ||||||||||||||||||||||||||||||||||||
Machinery and equipment | $ | 11,656 | $ | 7,984 | ||||||||||||||||||||||||||||||||
Building | 3,615 | 3,457 | ||||||||||||||||||||||||||||||||||
Land | 2,666 | 2,619 | ||||||||||||||||||||||||||||||||||
Furniture and fixtures | 2,051 | 1,908 | ||||||||||||||||||||||||||||||||||
Software | 807 | 853 | ||||||||||||||||||||||||||||||||||
Leasehold improvements | 3,107 | 2,616 | ||||||||||||||||||||||||||||||||||
Construction in process | 489 | — | ||||||||||||||||||||||||||||||||||
Less: accumulated depreciation | (7,364 | ) | (3,732 | ) | ||||||||||||||||||||||||||||||||
$ | 17,027 | $ | 15,705 | |||||||||||||||||||||||||||||||||
Investment properties, net: | ||||||||||||||||||||||||||||||||||||
Building | $ | — | $ | 384 | ||||||||||||||||||||||||||||||||
Land | — | 450 | ||||||||||||||||||||||||||||||||||
Less: accumulated depreciation | — | (13 | ) | |||||||||||||||||||||||||||||||||
$ | — | $ | 821 | |||||||||||||||||||||||||||||||||
Intangible assets, net: | ||||||||||||||||||||||||||||||||||||
Technologies | $ | 51,660 | $ | 52,810 | ||||||||||||||||||||||||||||||||
Customer relationships | 22,725 | 23,088 | ||||||||||||||||||||||||||||||||||
Product registrations | 9,692 | 9,637 | ||||||||||||||||||||||||||||||||||
Tradenames | 3,669 | 3,746 | ||||||||||||||||||||||||||||||||||
Covenants not to compete | 8,671 | 8,662 | ||||||||||||||||||||||||||||||||||
Other | 2,519 | 367 | ||||||||||||||||||||||||||||||||||
Less: accumulated amortization | (24,403 | ) | (14,072 | ) | ||||||||||||||||||||||||||||||||
$ | 74,533 | $ | 84,238 | |||||||||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Accrued expenses: | ||||||||||||||||||||||||||||||||||||
Taxes payable | $ | 702 | $ | 1,614 | ||||||||||||||||||||||||||||||||
Deferred revenue | 7,639 | 1,518 | ||||||||||||||||||||||||||||||||||
Clinical trials | 3,342 | 50 | ||||||||||||||||||||||||||||||||||
Professional fees | 402 | 675 | ||||||||||||||||||||||||||||||||||
Employee benefits | 4,399 | 3,319 | ||||||||||||||||||||||||||||||||||
Deferred acquisition payments, net of discount | 5,465 | 6,172 | ||||||||||||||||||||||||||||||||||
Contingent consideration | 28,047 | 5,126 | ||||||||||||||||||||||||||||||||||
Interest payable related to the Notes | — | — | ||||||||||||||||||||||||||||||||||
Other | 15,878 | 6,182 | ||||||||||||||||||||||||||||||||||
$ | 65,874 | $ | 24,656 | |||||||||||||||||||||||||||||||||
Other long-term liabilities: | ||||||||||||||||||||||||||||||||||||
Contingent consideration – Cytochroma | $ | 34,401 | $ | — | ||||||||||||||||||||||||||||||||
Contingent consideration – Farmadiet | 504 | 532 | ||||||||||||||||||||||||||||||||||
Contingent consideration – OPKO Diagnostics | 8,340 | 11,310 | ||||||||||||||||||||||||||||||||||
Contingent consideration – FineTech | — | 2,578 | ||||||||||||||||||||||||||||||||||
Contingent consideration – CURNA | 316 | 510 | ||||||||||||||||||||||||||||||||||
Deferred acquisition payments, net of discount | — | 3,931 | ||||||||||||||||||||||||||||||||||
Mortgages and other debts payable | 3,270 | 5,150 | ||||||||||||||||||||||||||||||||||
Deferred tax liabilities | 166,435 | 9,777 | ||||||||||||||||||||||||||||||||||
Other, including deferred revenue | 1,509 | 380 | ||||||||||||||||||||||||||||||||||
$ | 214,775 | $ | 34,168 | |||||||||||||||||||||||||||||||||
Fair values assigned to major intangible asset classes upon each acquisition | ' | |||||||||||||||||||||||||||||||||||
The following table summarizes the fair values assigned to our major intangible asset classes upon each acquisition: | ||||||||||||||||||||||||||||||||||||
(In thousands) | Technology | In-process research and development | Customer relationships | Product registrations | Covenants not to compete | Tradename | Other | Total identified intangible assets | Goodwill | |||||||||||||||||||||||||||
OPKO | $ | — | $ | — | $ | 3,945 | $ | 5,829 | $ | — | $ | 1,032 | $ | — | $ | 10,806 | $ | 5,441 | ||||||||||||||||||
Chile(1) | ||||||||||||||||||||||||||||||||||||
Exakta | — | — | 121 | 77 | 70 | 77 | — | 345 | 21 | |||||||||||||||||||||||||||
OPKO | ||||||||||||||||||||||||||||||||||||
CURNA | — | 10,000 | — | — | — | — | 290 | 10,290 | 4,827 | |||||||||||||||||||||||||||
OPKO Diagnostics | 44,400 | — | — | — | — | — | — | 44,400 | 17,977 | |||||||||||||||||||||||||||
FineTech | 2,700 | — | 14,200 | — | 1,500 | 400 | — | 18,800 | 11,623 | |||||||||||||||||||||||||||
Farmadiet | 3,017 | 1,459 | 436 | 2,930 | 187 | 349 | — | 8,378 | 8,062 | |||||||||||||||||||||||||||
OPKO Lab | 1,370 | — | 3,860 | — | 6,900 | 1,830 | 70 | 14,030 | 29,629 | |||||||||||||||||||||||||||
SciVac | 1,090 | — | 40 | — | — | — | — | 1,130 | 760 | |||||||||||||||||||||||||||
OPKO Brazil | — | — | — | — | — | — | 686 | 686 | — | |||||||||||||||||||||||||||
Cytochroma | — | 191,530 | — | — | — | — | 210 | 191,740 | 2,411 | |||||||||||||||||||||||||||
PROLOR | — | 590,200 | — | — | — | — | — | 590,200 | 139,784 | |||||||||||||||||||||||||||
Weighted average amortization period | 9 years | Indefinite | 6 years | 9 years | 5 years | 4 years | 4 years | Indefinite | ||||||||||||||||||||||||||||
-1 | Includes intangible assets and goodwill related to ALS acquisition. | |||||||||||||||||||||||||||||||||||
Summary of valuation allowance | ' | |||||||||||||||||||||||||||||||||||
The following table reflects the changes in the allowance for doubtful accounts, provision for inventory reserve and tax valuation allowance accounts for continuing operations: | ||||||||||||||||||||||||||||||||||||
(In thousands) | Beginning | Charged | Written-off | Charged | Ending | |||||||||||||||||||||||||||||||
balance | to | to other | balance | |||||||||||||||||||||||||||||||||
expense | ||||||||||||||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | (474 | ) | (979 | ) | 28 | (459 | ) | $ | (1,884 | ) | |||||||||||||||||||||||||
Inventory reserve | $ | (1,313 | ) | (2,015 | ) | 2,188 | 363 | $ | (777 | ) | ||||||||||||||||||||||||||
Tax valuation allowance | $ | (59,145 | ) | (1,148 | ) | — | (25,077 | ) | $ | (85,370 | ) | |||||||||||||||||||||||||
2012 | ||||||||||||||||||||||||||||||||||||
Allowance for doubtful accounts | $ | (440 | ) | (86 | ) | 86 | (34 | ) | $ | (474 | ) | |||||||||||||||||||||||||
Inventory reserve | $ | (325 | ) | (2,544 | ) | 1,582 | (26 | ) | $ | (1,313 | ) | |||||||||||||||||||||||||
Tax valuation allowance | $ | (53,255 | ) | 9,626 | — | (15,516 | ) | $ | (59,145 | ) | ||||||||||||||||||||||||||
Schedule of goodwill | ' | |||||||||||||||||||||||||||||||||||
The following table summarizes the changes in Goodwill. | ||||||||||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||||||||||
(In thousands) | Balance at January 1 | Acquisitions | Foreign exchange, other | Balance at December 31 | Balance at January 1 | Acquisitions | Foreign exchange, other | Balance at December 31 | ||||||||||||||||||||||||||||
Pharmaceuticals | ||||||||||||||||||||||||||||||||||||
CURNA | $ | 4,827 | $ | — | $ | — | $ | 4,827 | $ | 4,827 | $ | — | $ | — | $ | 4,827 | ||||||||||||||||||||
Mexico | 114 | — | — | 113 | 106 | — | 8 | 114 | ||||||||||||||||||||||||||||
Chile | 6,697 | — | (594 | ) | 6,102 | 5,282 | — | 1,415 | 6,697 | |||||||||||||||||||||||||||
Pharmadiet | 8,712 | — | 363 | 9,075 | — | 8,313 | 399 | 8,712 | ||||||||||||||||||||||||||||
Finetech | 11,698 | — | — | 11,698 | 11,623 | — | 74 | 11,698 | ||||||||||||||||||||||||||||
SciGen | 796 | — | 943 | 1,740 | — | 796 | — | 796 | ||||||||||||||||||||||||||||
Cytochroma | — | 2,411 | (342 | ) | 2,069 | — | — | — | — | |||||||||||||||||||||||||||
Prolor | — | 139,784 | — | 139,784 | — | — | — | — | ||||||||||||||||||||||||||||
Diagnostics | ||||||||||||||||||||||||||||||||||||
Claros | 17,977 | — | — | 17,977 | 17,977 | — | — | 17,977 | ||||||||||||||||||||||||||||
OPKO Lab | 29,629 | — | 3,359 | 32,988 | — | 29,629 | — | 29,629 | ||||||||||||||||||||||||||||
$ | 80,450 | $ | 142,195 | $ | 3,729 | $ | 226,373 | $ | 39,815 | $ | 38,739 | $ | 1,896 | $ | 80,450 | |||||||||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Debt Instrument [Line Items] | ' | |||||||||||||||
Schedule of principal amounts, unamortized discount and net carrying amounts | ' | |||||||||||||||
The following table sets forth information related to the 3.00% convertible senior notes which are included in our Consolidated Balance Sheets: | ||||||||||||||||
(In thousands) | Embedded conversion option | 2033 Senior Notes | Discount | Total | ||||||||||||
Balance at December 31, 2012 | $ | — | $ | — | $ | — | $ | — | ||||||||
Issuance of 3.00% convertible notes | 59,204 | 175,000 | (59,204 | ) | 175,000 | |||||||||||
Amortization of debt discount | — | — | 6,596 | 6,596 | ||||||||||||
Change in fair value of embedded derivative | 43,082 | — | — | 43,082 | ||||||||||||
Conversion | (1,199 | ) | (16,936 | ) | 5,369 | (12,766 | ) | |||||||||
Balance at December 31, 2013 | $ | 101,087 | $ | 158,064 | $ | (47,239 | ) | $ | 211,912 | |||||||
Summary of lines of credit | ' | |||||||||||||||
The following table summarizes the amounts outstanding under the Chilean and Spanish lines of credit: | ||||||||||||||||
(Dollars in thousands) | Balance Outstanding | |||||||||||||||
Lender | Interest rate on | Credit line | December 31, | December 31, | ||||||||||||
borrowings | capacity | 2013 | 2012 | |||||||||||||
Itau Bank | 8.04 | % | $ | 3,000 | $ | 1,999 | $ | 2,738 | ||||||||
Bank of Chile | 7.8 | % | 2,250 | 2,079 | 2,292 | |||||||||||
BICE Bank | 5.5 | % | 1,500 | 516 | 2,451 | |||||||||||
Corp Banca | 5.5 | % | — | (47 | ) | 1,248 | ||||||||||
BBVA Bank | 8.29 | % | 2,000 | 523 | 2,823 | |||||||||||
Penta Bank | 9.48 | % | 1,000 | 946 | 833 | |||||||||||
Security Bank | 7.56 | % | 1,337 | 1,075 | — | |||||||||||
BCI | 5.5 | % | 198 | 198 | — | |||||||||||
Estado Bank | 6.88 | % | 2,000 | 1,772 | 1,963 | |||||||||||
Sabadell Bank | 7.6 | % | — | — | 3 | |||||||||||
Banco Bilbao Vizcaya | 4.9 | % | 344 | — | 377 | |||||||||||
Banco Popular | 8.25 | % | 275 | — | 260 | |||||||||||
Santander Bank | 6 | % | 207 | — | — | |||||||||||
Banesto | 5.8 | % | 207 | — | 163 | |||||||||||
Banca March | 6.25 | % | — | — | 44 | |||||||||||
Deutsche Bank | 4 | % | 206 | |||||||||||||
Total | $ | 14,524 | $ | 9,061 | $ | 15,195 | ||||||||||
Farmadiet [Member] | ' | |||||||||||||||
Debt Instrument [Line Items] | ' | |||||||||||||||
Schedule of principal amounts, unamortized discount and net carrying amounts | ' | |||||||||||||||
At December 31, 2013 and December 31, 2012, we had mortgage notes and other debt payables related to Farmadiet as follows: | ||||||||||||||||
December 31, | ||||||||||||||||
(In thousands) | 2013 | 2012 | ||||||||||||||
Current portion of notes payable | $ | 1,964 | $ | 2,331 | ||||||||||||
Other long-term liabilities | 3,270 | 3,916 | ||||||||||||||
Total mortgage notes and other debt payables | $ | 5,234 | $ | 6,247 | ||||||||||||
Notes [Member] | ' | |||||||||||||||
Debt Instrument [Line Items] | ' | |||||||||||||||
Inputs to lattice model used to value the embedded derivative | ' | |||||||||||||||
The following table sets forth the inputs to the lattice model used to value the embedded derivative: | ||||||||||||||||
December 31, 2013 | Issuance Date | |||||||||||||||
Stock price | $8.44 | $6.20 | ||||||||||||||
Conversion Rate | 141.4827 | 141.4827 | ||||||||||||||
Conversion Price | $7.07 | $7.07 | ||||||||||||||
Maturity date | February 1, 2033 | February 1, 2033 | ||||||||||||||
Risk-free interest rate | 1.78% | 1.12% | ||||||||||||||
Estimated stock volatility | 55% | 40% | ||||||||||||||
Estimated credit spread | 828 basis points | 944 basis points | ||||||||||||||
Fair value of notes with and without the embedded derivatives and fair value of embedded derivatives | ' | |||||||||||||||
The following table sets forth the fair value of the 2033 Senior Notes with and without the embedded derivatives, and the fair value of the embedded derivatives as of the issuance date and December 31, 2013. At December 31, 2013 and at issuance date the principal amount of the 2033 Senior Notes was $158.1 million and $175.0 million, respectively: | ||||||||||||||||
(In thousands) | December 31, 2013 | Issuance Date | ||||||||||||||
Fair value of Notes: | ||||||||||||||||
With the embedded derivatives | $ | 218,081 | $ | 175,000 | ||||||||||||
Without the embedded derivatives | $ | 116,993 | $ | 115,796 | ||||||||||||
Estimated fair value of the embedded derivatives | $ | 101,087 | $ | 59,204 | ||||||||||||
Shareholders_Equity_Tables
Shareholders' Equity (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Equity [Abstract] | ' | ||||||||
Additional information for warrants outstanding | ' | ||||||||
The table below provides additional information for warrants outstanding as of December 31, 2013. | |||||||||
Warrants | Number of | Weighted | Expiration date | ||||||
warrants | average | ||||||||
exercise price | |||||||||
Outstanding at December 31, 2012 | 25,841,868 | $ | 0.95 | Various from September 2014 through March 2017 | |||||
Issued | 281,622 | 0.89 | |||||||
Exercised | (1,626,826 | ) | — | ||||||
Expired | — | — | |||||||
Outstanding and Exercisable at December 31, 2013 | 24,496,664 | $ | 0.94 | Various from | |||||
September 2014 | |||||||||
through March 2017 | |||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Equity [Abstract] | ' | |||||||
Changes in accumulated other comprehensive income net of tax | ' | |||||||
For the year ended December 31, 2013, changes in Accumulated other comprehensive income, net of tax, were as follows: | ||||||||
(In thousands) | Foreign | Unrealized | ||||||
currency | gains in | |||||||
Accumulated | ||||||||
OCI | ||||||||
Balance at December 31, 2012 | $ | 3,196 | $ | 4,160 | ||||
Other comprehensive income before reclassifications, net of tax (1) | (1,825 | ) | 2,467 | |||||
Amounts reclassified from accumulated other comprehensive income, net of tax (1) | (4,580 | ) | ||||||
Net other comprehensive income | (1,825 | ) | (2,113 | ) | ||||
Balance at December 31, 2013 | $ | 1,371 | $ | 2,047 | ||||
-1 | Effective tax rate of 38.47%. |
EquityBased_Compensation_Table
Equity-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||||||
Schedule of Stock Options | ' | ||||||||||||
We apply the following assumptions in our Black-Scholes-Merton Model option-pricing formula: | |||||||||||||
Year Ended | Year Ended | Year Ended | |||||||||||
December 31, | December 31, | December 31, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Expected term (in years) | 1.0 - 7.0 | 1.0 - 7.0 | 0.6 - 7.0 | ||||||||||
Risk-free interest rate | 0.15% - 2.45% | 0.09% - 2.61% | 1.3% - 2.7% | ||||||||||
Expected volatility | 31% - 83% | 69% | 69% - 74% | ||||||||||
Expected dividend yield | 0% | 0% | 0% | ||||||||||
Summary of Option Activity Under Stock Plans | ' | ||||||||||||
A summary of option activity under our stock option plans as of December 31, 2013, and the changes during the year is presented below: | |||||||||||||
Options | Number of | Weighted | Weighted | Aggregate | |||||||||
options | average | average | intrinsic value | ||||||||||
exercise | remaining | (in thousands) | |||||||||||
price | contractual | ||||||||||||
term (years) | |||||||||||||
Outstanding at December 31, 2012 | 17,761,804 | $ | 2.9 | 3.8 | $ | 34,227 | |||||||
Granted | 5,722,000 | $ | 7.76 | ||||||||||
Assumed from PROLOR | 7,612,537 | $ | 3.09 | ||||||||||
Exercised | (9,254,744 | ) | $ | 2.46 | |||||||||
Forfeited | (488,500 | ) | $ | 2.44 | |||||||||
Expired | (2,500 | ) | $ | 4.02 | |||||||||
Outstanding at December 31, 2013 | 21,350,597 | $ | 4.47 | 4.85 | $ | 85,186 | |||||||
Vested and expected to vest at December 31, 2013 | 19,765,840 | $ | 4.35 | 4.79 | $ | 81,229 | |||||||
Exercisable at December 31, 2013 | 11,088,879 | $ | 3.13 | 4.21 | $ | 58,889 | |||||||
Summary of Grant Date Fair Value Under Stock Option Activity | ' | ||||||||||||
The following table provides the grant date fair value for each of the following groups of stock option activity during 2013: | |||||||||||||
Options | Number of | Weighted | |||||||||||
options | average | ||||||||||||
grant | |||||||||||||
date fair | |||||||||||||
value | |||||||||||||
Nonvested at December 31, 2012 | 6,227,914 | $ | 1.45 | ||||||||||
Granted | 5,722,000 | $ | 4 | ||||||||||
Forfeited | 488,500 | $ | 1.37 | ||||||||||
Nonvested at December 31, 2013 | 10,261,718 | $ | 3.2 | ||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Components of income tax expense benefit | ' | |||||||||||
The (expense) benefit from continuing operations for incomes taxes consists of the following: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Current | ||||||||||||
Federal | $ | — | $ | — | $ | — | ||||||
State | — | — | — | |||||||||
Foreign | (1,073 | ) | (332 | ) | (391 | ) | ||||||
(1,073 | ) | (332 | ) | (391 | ) | |||||||
Deferred | ||||||||||||
Federal | (1,161 | ) | 8,191 | 18,043 | ||||||||
State | (104 | ) | 1,038 | 1,220 | ||||||||
Foreign | 666 | 729 | 486 | |||||||||
(599 | ) | 9,958 | 19,749 | |||||||||
Total, net | $ | (1,672 | ) | $ | 9,626 | $ | 19,358 | |||||
Components of deferred income tax assets and liabilities from continuing operations | ' | |||||||||||
Deferred income tax assets and liabilities from continuing operations as of December 31, 2013 and 2012 are comprised of the following: | ||||||||||||
(In thousands) | 31-Dec-13 | 31-Dec-12 | ||||||||||
Deferred income tax assets: | ||||||||||||
Federal net operating loss | $ | 43,869 | $ | 50,174 | ||||||||
State net operating loss | 6,987 | 6,774 | ||||||||||
Foreign net operating loss | 20,545 | 3,427 | ||||||||||
Capitalized research and development expense | 4,746 | 2,162 | ||||||||||
Research and development tax credit | 4,876 | 4,204 | ||||||||||
Stock options | 13,981 | 6,326 | ||||||||||
Equity investments | 4,756 | 1,234 | ||||||||||
Accruals | 1,936 | 1,556 | ||||||||||
Other | 2,904 | 2,860 | ||||||||||
Deferred income tax assets | 104,600 | 78,717 | ||||||||||
Deferred income tax liabilities: | ||||||||||||
Intangible assets | (179,414 | ) | (25,738 | ) | ||||||||
Other | (4,996 | ) | (3,277 | ) | ||||||||
Deferred income tax liabilities | (184,410 | ) | (29,015 | ) | ||||||||
Net deferred income tax assets | (79,810 | ) | 49,702 | |||||||||
Valuation allowance | (85,370 | ) | (59,145 | ) | ||||||||
Net deferred income tax liabilities | $ | (165,180 | ) | $ | (9,443 | ) | ||||||
Summary of gross unrecognized income tax benefits | ' | |||||||||||
The following summarizes the changes in our gross unrecognized income tax benefits. | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Unrecognized tax benefits at beginning of period | $ | 9,245 | $ | 5,250 | $ | 5,413 | ||||||
Gross increases – tax positions in prior period | 575 | 4,467 | 257 | |||||||||
Gross decreases – tax positions in prior period | (589 | ) | (472 | ) | (420 | ) | ||||||
Unrecognized tax benefits at end of period | $ | 9,231 | $ | 9,245 | $ | 5,250 | ||||||
Summary of difference between the federal statutory tax rate and the effective tax rate | ' | |||||||||||
For the years ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Federal statutory rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal benefit | 2.4 | % | 3.1 | % | 3.6 | % | ||||||
Foreign income tax | (7.9 | )% | (0.9 | )% | (1.9 | )% | ||||||
Research and development tax credits | 1 | % | (0.3 | )% | 0.2 | % | ||||||
Original issue discount | — | % | — | % | 0.1 | % | ||||||
Non-Deductible components of Convertible Debt | (16.7 | )% | — | % | — | % | ||||||
Valuation allowance | (11.4 | )% | (11.4 | )% | 35.9 | % | ||||||
Other | (3.9 | )% | (0.7 | )% | 2 | % | ||||||
Total | (1.5 | )% | 24.8 | % | 74.9 | % | ||||||
Summary of losses from continuing operations before income taxes between U.S. and foreign jurisdictions | ' | |||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Pre-tax loss: | ||||||||||||
U.S. | $ | (74,861 | ) | $ | (34,058 | ) | $ | (24,089 | ) | |||
Foreign | (37,874 | ) | (4,725 | ) | (1,733 | ) | ||||||
Total | $ | (112,735 | ) | $ | (38,783 | ) | $ | (25,822 | ) | |||
Reconciliation of long lived assets between U.S. and foreign jurisdictions | ' | |||||||||||
(In thousands) | December 31, 2013 | December 31, 2012 | ||||||||||
Long-lived assets: | ||||||||||||
U.S. | $ | 4,582 | $ | 4,324 | ||||||||
Foreign | 12,445 | 12,202 | ||||||||||
Total | $ | 17,027 | $ | 16,526 | ||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Summary of Supplemental Cash Flow Information | ' | |||||||||||
Supplemental cash flow information is summarized as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Interest paid | $ | 3,407 | $ | 945 | $ | 726 | ||||||
Income taxes paid, net | $ | 1,321 | $ | 575 | $ | 338 | ||||||
RXi common stock received | $ | 12,500 | $ | — | $ | — | ||||||
Non-cash financing: | ||||||||||||
Shares issued upon the conversion of: | ||||||||||||
Series D Preferred Stock | $ | 24,386 | $ | — | $ | 1,742 | ||||||
3.00% convertible senior notes | $ | 20,839 | $ | — | $ | — | ||||||
Common Stock warrants, net exercised | $ | 815 | $ | 7 | $ | 1,155 | ||||||
Issuance of Common Stock, Common Stock | $ | 586,643 | $ | — | $ | — | ||||||
options and warrants to acquire PROLOR | ||||||||||||
Issuance of capital stock to acquire: | ||||||||||||
OPKO Diagnostics | $ | — | $ | — | $ | 22,452 | ||||||
FineTech | $ | — | $ | — | $ | 17,717 | ||||||
Farmadiet | $ | 4,435 | $ | 805 | $ | — | ||||||
OURLab | $ | — | $ | 32,888 | $ | — | ||||||
OPKO Brazil | $ | 435 | $ | — | $ | — | ||||||
Cytochroma | $ | 146,902 | $ | — | $ | — | ||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Leases [Abstract] | ' | |||
Aggregate future minimum lease payments under all non-cancelable operating leases | ' | |||
As of December 31, 2013, the aggregate future minimum lease payments under all non-cancelable operating leases with initial or remaining lease terms in excess of one year are as follows: | ||||
Year Ending | (In thousands) | |||
2014 | $ | 2,660 | ||
2015 | 1,841 | |||
2016 | 1,565 | |||
2017 | 951 | |||
2018 | 566 | |||
Thereafter | — | |||
Total minimum lease commitments | $ | 7,583 | ||
Segments_Tables
Segments (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||
Information regarding our geographic activities | ' | |||||||||||
Information regarding our operations and assets for our operating segments and the unallocated corporate operations as well as geographic information are as follows: | ||||||||||||
For the years ended December 31, | ||||||||||||
(In thousands) | 2013 | 2012 | 2011 | |||||||||
Product revenues: | ||||||||||||
Pharmaceuticals | $ | 68,161 | $ | 45,295 | $ | 27,844 | ||||||
Diagnostics | — | — | — | |||||||||
Corporate | — | — | — | |||||||||
$ | 68,161 | $ | 45,295 | $ | 27,844 | |||||||
Revenue from services: | ||||||||||||
Pharmaceuticals | $ | — | $ | — | $ | — | ||||||
Diagnostics | 10,833 | 395 | — | |||||||||
Corporate | 825 | 1,354 | 135 | |||||||||
$ | 11,658 | $ | 1,749 | $ | 135 | |||||||
Revenue from transfer of intellectual property: | ||||||||||||
Pharmaceuticals | $ | 15,160 | $ | — | $ | — | ||||||
Diagnostics | 1,551 | — | — | |||||||||
Corporate | — | — | — | |||||||||
$ | 16,711 | $ | — | $ | — | |||||||
Operating loss from continuing operations: | ||||||||||||
Pharmaceuticals | $ | (29,809 | ) | $ | (6,797 | ) | $ | (3,668 | ) | |||
Diagnostics | (22,199 | ) | (14,259 | ) | (3,984 | ) | ||||||
Corporate | (24,473 | ) | (15,628 | ) | (15,537 | ) | ||||||
Less: Operating loss attributable to noncontrolling interests | (3,151 | ) | (585 | ) | — | |||||||
$ | (79,632 | ) | $ | (37,269 | ) | $ | (23,189 | ) | ||||
Depreciation and amortization: | ||||||||||||
Pharmaceuticals | $ | 8,234 | $ | 6,367 | $ | 2,804 | ||||||
Diagnostics | 6,833 | 3,614 | 856 | |||||||||
Corporate | 149 | 179 | 170 | |||||||||
$ | 15,216 | $ | 10,160 | $ | 3,830 | |||||||
Net loss from investment in investees: | ||||||||||||
Pharmaceuticals | (11,456 | ) | (2,062 | ) | (1,589 | ) | ||||||
Diagnostics | — | — | — | |||||||||
Corporate | — | — | — | |||||||||
$ | (11,456 | ) | $ | (2,062 | ) | $ | (1,589 | ) | ||||
Revenues: | ||||||||||||
U.S. | $ | 28,369 | $ | 1,749 | $ | 135 | ||||||
Chile | 31,650 | 26,514 | 21,466 | |||||||||
Spain | 18,800 | 6,124 | — | |||||||||
Israel | 13,252 | 7,655 | — | |||||||||
Mexico | 4,459 | 5,002 | 6,378 | |||||||||
$ | 96,530 | $ | 47,044 | $ | 27,979 | |||||||
(In thousands) | December 31, | December 31, | ||||||||||
2013 | 2012 | |||||||||||
Assets: | ||||||||||||
Pharmaceuticals | $ | 1,065,033 | $ | 142,299 | ||||||||
Diagnostics | 116,944 | 112,422 | ||||||||||
Corporate | 209,539 | 35,109 | ||||||||||
$ | 1,391,516 | $ | 289,830 | |||||||||
Goodwill: | ||||||||||||
Pharmaceuticals | $ | 175,408 | $ | 32,844 | ||||||||
Diagnostics | 50,965 | 47,606 | ||||||||||
Corporate | — | — | ||||||||||
$ | 226,373 | $ | 80,450 | |||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||||||
Summary of investments classified as available for sale, and carried at fair value | ' | |||||||||||||||||||
A summary of our investments classified as available for sale, and carried at fair value, is as follows: | ||||||||||||||||||||
As of December 31, 2013 | ||||||||||||||||||||
(In thousands) | Amortized | Gross | Gross | Gain/(Loss) | Fair | |||||||||||||||
Cost | unrealized | unrealized | in | value | ||||||||||||||||
gains in | losses in | Accumulated | ||||||||||||||||||
Accumulated | Accumulated | Deficit | ||||||||||||||||||
OCI | OCI | |||||||||||||||||||
Common stock investments, available for sale | $ | 3,376 | $ | 2,698 | $ | — | $ | — | $ | 6,074 | ||||||||||
Common stock options/warrants | 925 | 1,041 | — | 4,022 | 5,988 | |||||||||||||||
Total assets | $ | 4,301 | $ | 3,739 | $ | — | $ | 4,022 | $ | 12,062 | ||||||||||
As of December 31, 2012 | ||||||||||||||||||||
(In thousands) | Amortized | Gross | Gross | Gain/(Loss) | Fair | |||||||||||||||
Cost | unrealized | unrealized | in | value | ||||||||||||||||
gains in | losses in | Accumulated | ||||||||||||||||||
Accumulated | Accumulated | Deficit | ||||||||||||||||||
OCI | OCI | |||||||||||||||||||
Common stock investments, available for sale | $ | 2,051 | $ | 6,185 | $ | — | $ | — | $ | 8,236 | ||||||||||
BZNE Note and conversion feature | 1,700 | 53 | — | 287 | 2,040 | |||||||||||||||
Common stock options | 925 | 293 | — | 176 | 1,394 | |||||||||||||||
Common stock warrants | 659 | 194 | — | (375 | ) | 478 | ||||||||||||||
Total assets | $ | 5,335 | $ | 6,725 | $ | — | $ | 88 | $ | 12,148 | ||||||||||
Financial assets and liabilities measured at fair value on a recurring basis | ' | |||||||||||||||||||
Our financial assets and liabilities measured at fair value on a recurring basis are as follows: | ||||||||||||||||||||
Fair value measurements as of December 31, 2013 | ||||||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total | ||||||||||||||||
prices in | other | unobservable | ||||||||||||||||||
active | observable | inputs | ||||||||||||||||||
markets for | inputs | (Level 3) | ||||||||||||||||||
identical | (Level 2) | |||||||||||||||||||
assets | ||||||||||||||||||||
(Level 1) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Money market funds | $ | 168,418 | $ | — | $ | — | $ | 168,418 | ||||||||||||
Certificates of deposit | — | 827 | — | 827 | ||||||||||||||||
Pharmsynthez Notes Receivable & Purchase Option | — | 6,151 | — | 6,151 | ||||||||||||||||
Common stock investments, available for sale | 6,074 | — | — | 6,074 | ||||||||||||||||
Common stock options/warrants | — | 5,988 | — | 5,988 | ||||||||||||||||
Forward contracts | — | 49 | — | 49 | ||||||||||||||||
Total assets | $ | 174,492 | $ | 13,015 | $ | — | $ | 187,507 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Embedded conversion option | — | — | 101,087 | 101,087 | ||||||||||||||||
Deferred acquisition payments, net of discount | — | — | 5,465 | 5,465 | ||||||||||||||||
Contingent consideration: | ||||||||||||||||||||
CURNA | — | — | 573 | 573 | ||||||||||||||||
OPKO Diagnostics | — | — | 13,776 | 13,776 | ||||||||||||||||
FineTech | — | — | 3,124 | 3,124 | ||||||||||||||||
Cytochroma | — | — | 53,092 | 53,092 | ||||||||||||||||
Farmadiet | — | — | 1,043 | 1,043 | ||||||||||||||||
Total liabilities | $ | — | $ | — | $ | 178,160 | $ | 178,160 | ||||||||||||
Fair value measurements as of December 31, 2012 | ||||||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total | ||||||||||||||||
prices in | other | unobservable | ||||||||||||||||||
active | observable | inputs | ||||||||||||||||||
markets for | inputs | (Level 3) | ||||||||||||||||||
identical | (Level 2) | |||||||||||||||||||
assets | ||||||||||||||||||||
(Level 1) | ||||||||||||||||||||
Assets: | ||||||||||||||||||||
Money market funds | $ | 18,716 | $ | — | $ | — | $ | 18,716 | ||||||||||||
Certificates of deposit | — | 820 | — | 820 | ||||||||||||||||
Common stock investments, available for sale | 8,236 | — | — | 8,236 | ||||||||||||||||
BZNE Note and conversation feature | — | — | 2,040 | 2,040 | ||||||||||||||||
Neovasc common stock options | — | 1,394 | — | 1,394 | ||||||||||||||||
Neovasc common stock warrants | — | 478 | — | 478 | ||||||||||||||||
Total assets | $ | 26,952 | $ | 2,692 | $ | 2,040 | $ | 31,684 | ||||||||||||
Liabilities: | ||||||||||||||||||||
Forward contracts | $ | — | $ | 10 | $ | — | $ | 10 | ||||||||||||
Deferred acquisition payments, net of discount | — | — | 10,103 | 10,103 | ||||||||||||||||
Contingent consideration: | ||||||||||||||||||||
CURNA | — | — | 510 | 510 | ||||||||||||||||
OPKO Diagnostics | — | — | 12,974 | 12,974 | ||||||||||||||||
FineTech | — | — | 5,262 | 5,262 | ||||||||||||||||
Farmadiet | — | — | 1,310 | 1,310 | ||||||||||||||||
Total liabilities | $ | — | $ | 10 | $ | 30,159 | $ | 30,169 | ||||||||||||
The carrying amount and estimated fair value of our long-term debt | ' | |||||||||||||||||||
. The fair value of the 2033 Senior Notes is determined using a binomial lattice approach in order to estimate the fair value of the embedded derivative in the 2033 Senior Notes. Refer to Note 6. | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
(In thousands) | Carrying | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||
Value | Fair Value | |||||||||||||||||||
2033 Senior Notes | $ | 110,825 | $ | 116,993 | $ | — | $ | — | $ | 116,993 | ||||||||||
Reconcile the beginning and ending balances of Level 3 assets and liabilities | ' | |||||||||||||||||||
The following tables reconcile the beginning and ending balances of our Level 3 assets and liabilities as of December 31, 2013 and 2012: | ||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||
(In thousands) | BZNE Note | Contingent | Deferred | Embedded | ||||||||||||||||
and | consideration | acquisition | conversion | |||||||||||||||||
conversion | payments, net | option | ||||||||||||||||||
feature | of discount | |||||||||||||||||||
Balance at December 31, 2012 | $ | 2,040 | $ | 20,056 | $ | 10,103 | $ | — | ||||||||||||
Additions | — | 47,710 | — | 59,204 | ||||||||||||||||
Total losses (gains) for the period: | ||||||||||||||||||||
Included in results of operations | — | 6,947 | 829 | 43,082 | ||||||||||||||||
Foreign currency remeasurement | 31 | |||||||||||||||||||
Conversion | (2,040 | ) | — | — | (1,199 | ) | ||||||||||||||
Payments | — | (3,124 | ) | (5,448 | ) | — | ||||||||||||||
Balance at December 31, 2013 | $ | — | $ | 71,620 | $ | 5,484 | $ | 101,087 | ||||||||||||
December 31, 2012 | ||||||||||||||||||||
(In thousands) | BZNE Note | Contingent | Deferred | |||||||||||||||||
and | consideration | acquisition | ||||||||||||||||||
conversion | payments, net | |||||||||||||||||||
feature | of discount | |||||||||||||||||||
Balance at December 31, 2011 | $ | — | $ | 18,002 | $ | — | ||||||||||||||
Additions | 1,700 | 1,234 | 9,673 | |||||||||||||||||
Total losses (gains) for the period: | ||||||||||||||||||||
Included in results of operations | 1,563 | 820 | 430 | |||||||||||||||||
Included in Other comprehensive loss | 53 | — | — | |||||||||||||||||
Transfer out to equity method investment | (1,276 | ) | — | — | ||||||||||||||||
Balance at December 31, 2012 | $ | 2,040 | $ | 20,056 | $ | 10,103 | ||||||||||||||
Derivative_Contracts_Tables
Derivative Contracts (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||
Summary of fair values and derivative financial instrument | ' | ||||||||||||
The following table summarizes the fair values and the presentation of our derivative financial instruments in the Consolidated Balance Sheets: | |||||||||||||
(In thousands) | Balance Sheet Component | December 31, | December 31, | ||||||||||
2013 | 2012 | ||||||||||||
Derivative financial instruments: | |||||||||||||
Pharmsynthez Note Receivable and | Prepaid expenses and other current assets | $ | 6,151 | $ | — | ||||||||
Purchase Option | |||||||||||||
Common stock options/warrants | Investments, net | $ | 5,988 | $ | 1,872 | ||||||||
Embedded conversion option | 3.00% convertible senior notes, net of discount | $ | 101,087 | $ | — | ||||||||
and estimated fair value of embedded | |||||||||||||
derivatives | |||||||||||||
Forward contracts (1) | Current portion of lines of credit and notes | $ | 1,585 | $ | 1,294 | ||||||||
payable | |||||||||||||
-1 | The loss on forward contracts is recorded in Accrued expenses. The gain on the forward contracts is recorded in Prepaid expenses and other current assets. | ||||||||||||
Summary of loss (gain) recorded in Fair value changes of derivative financial instruments | ' | ||||||||||||
The following table summarizes the (losses) and gains recorded during the three and years ended December 31, 2013 and 2012: | |||||||||||||
For the years ended December 31, | |||||||||||||
(In thousands) | 2013 | 2012 | 2011 | ||||||||||
Derivative gain (loss): | |||||||||||||
Pharmsynthez Note Receivable and Purchase Option | $ | 1,936 | $ | — | $ | — | |||||||
Common stock options/warrants and BZNE Note conversion feature (1) | 4,608 | 1,350 | (77 | ) | |||||||||
Notes | (43,082 | ) | — | — | |||||||||
Forward contracts | 49 | (10 | ) | 38 | |||||||||
Total | $ | (36,489 | ) | $ | 1,340 | $ | (39 | ) | |||||
Outstanding contracts recorded at fair value and their maturity details | ' | ||||||||||||
The outstanding forward contracts at December 31, 2013 and 2012 have been recorded at fair value and their maturity details are as follows: | |||||||||||||
(In thousands) | Contract value | Fair value at | Effect on income (loss) | ||||||||||
Days until maturity | December 31, 2013 | ||||||||||||
0 to 30 | $ | 472 | $ | 489 | $ | 17 | |||||||
31 to 60 | 562 | 579 | 18 | ||||||||||
61 to 90 | 503 | 517 | 14 | ||||||||||
91 to 120 | — | — | — | ||||||||||
121 to 180 | — | — | — | ||||||||||
More than 180 | — | — | — | ||||||||||
Total | $ | 1,537 | $ | 1,585 | $ | 49 | |||||||
(In thousands) | Contract value | Fair value at | Effect on income (loss) | ||||||||||
Days until maturity | December 31, 2012 | ||||||||||||
0 to 30 | $ | — | $ | — | $ | — | |||||||
31 to 60 | 581 | 577 | (4 | ) | |||||||||
61 to 90 | 341 | 339 | (2 | ) | |||||||||
91 to 120 | 212 | 210 | (2 | ) | |||||||||
121 to 180 | 170 | 168 | (2 | ) | |||||||||
More than 180 | — | — | — | ||||||||||
Total | $ | 1,304 | $ | 1,294 | $ | (10 | ) | ||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | |||||||||||||||
Summary of quarterly financial data | ' | |||||||||||||||
For the 2013 Quarters Ended | ||||||||||||||||
(In thousands, except per share data) | March 31 | June 30 | September 30 | December 31 | ||||||||||||
Total revenues | $ | 31,376 | $ | 23,821 | $ | 20,641 | $ | 20,692 | ||||||||
Total costs and expenses | 38,149 | 41,805 | 39,650 | 56,558 | ||||||||||||
Net loss | (34,763 | ) | (4,353 | ) | (60,801 | ) | (17,429 | ) | ||||||||
Net loss attributable to common shareholders | (34,635 | ) | (3,394 | ) | (59,998 | ) | (16,800 | ) | ||||||||
(Loss) income per share, basic and diluted: | $ | (0.11 | ) | $ | (0.01 | ) | $ | (0.16 | ) | $ | (0.04 | ) | ||||
For the 2012 Quarters Ended | ||||||||||||||||
(In thousands, except per share data) | March 31 | June 30 | September 30 | December 31 | ||||||||||||
Total revenues | $ | 8,777 | $ | 10,211 | $ | 11,795 | $ | 16,261 | ||||||||
Total costs and expenses | 17,624 | 19,552 | 21,163 | 25,974 | ||||||||||||
Net loss | (8,611 | ) | (10,244 | ) | (9,646 | ) | (1,039 | ) | ||||||||
Net loss attributable to common shareholders | (9,171 | ) | (10,805 | ) | (10,206 | ) | (1,106 | ) | ||||||||
(Loss) income per share, basic and diluted: | $ | (0.03 | ) | $ | (0.04 | ) | $ | (0.03 | ) | $ | — | |||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Apr. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Oct. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Segment | Pharmaceutical [Member] | Diagnostics [Member] | Research and Development Expense [Member] | Research and Development Expense [Member] | Research and Development Expense [Member] | Pharmsynthez [Member] | Pharmsynthez [Member] | Rxi Pharmaceuticals Corporation [Member] | Rxi Pharmaceuticals Corporation [Member] | Rxi Pharmaceuticals Corporation [Member] | Neovasc [Member] | Neovasc [Member] | Neovasc [Member] | Common Stock [Member] | Common Stock [Member] | Series D Preferred Stock [Member] | Series D Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Minimum [Member] | Maximum [Member] | Software [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Buildings and Improvements [Member] | Buildings and Improvements [Member] | |||
Segment | Segment | Common Stock [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||||||||||||
Summary of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction of research and development expense from equity based compensation expense | ' | ' | ' | ' | ' | ($3,600,000) | ($2,000,000) | ($4,000,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Number of Days Interest Bearing Instruments with Original Maturities to Consider as Cash Equivalent | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Number of Days Interest Bearing Instruments with Remaining Maturities to Consider as Marketable Securities | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, Plant and Equipment, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | '10 years | '3 years | '5 years | '8 years | '5 years | '10 years | '10 years | '40 years |
Depreciation | 4,100,000 | 1,800,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill and intangible assets | 1,100,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Asset, Useful Life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '10 years | ' | ' | ' | ' | ' | ' | ' |
Amortization of Intangible Assets | 11,133,000 | 8,335,000 | 3,404,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2014 | 11,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2015 | 10,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2016 | 9,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2017 | 9,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Amortization Expense, 2018 | 7,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short Term Investments Maturities Period Minimum | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short Term Investments Maturities Period Maximum | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long Term Investments Maturities Period Minimum | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,105,859 | 26,695,436 | 26,661,326 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series D preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80,654 | 940,141 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Stock Options and Warrants Exercised | 10,881,570 | 1,086,361 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Stock Options and Warrants Exercised, Net of Shares Surrendered in Lieu of Cash Payment | 10,732,745 | 1,084,982 | 3,348,394 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Surrendered in Lieu of Cash Payment | 148,825 | 1,379 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise of Common Stock Warrants To Purchase Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,702,497 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Surrender In Lieu Of Cash Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 354,103 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from services | 11,658,000 | 1,749,000 | 135,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | 1,400,000 | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from transfer of intellectual property | 16,711,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue related to sale of intellectual property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,500,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue related to our license agreements | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total deferred revenue related to other revenues | 7,600,000 | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allowance for doubtful accounts receivable | 1,885,000 | 474,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity-based compensation expense for continuing operations | $10,983,000 | $5,131,000 | $6,953,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of reportable segments | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of operating segments | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Investments_and_L2
Acquisitions, Investments, and Licenses - Textual (Details) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | ||||||||||||||||||||||||||||||||||||||
Feb. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 31, 2011 | Jun. 30, 2012 | Dec. 31, 2013 | Oct. 31, 2013 | Aug. 31, 2011 | Sep. 30, 2013 | Aug. 31, 2011 | Aug. 31, 2011 | Apr. 30, 2013 | Apr. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Feb. 29, 2012 | Oct. 31, 2013 | Jan. 03, 2014 | Feb. 29, 2012 | Aug. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2010 | Dec. 31, 2013 | Jun. 30, 2009 | Nov. 30, 2010 | Aug. 29, 2013 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 31, 2013 | Aug. 31, 2012 | Aug. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 29, 2013 | Aug. 31, 2012 | Aug. 29, 2013 | Aug. 29, 2013 | Nov. 30, 2013 | Aug. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 31, 2011 | Jan. 31, 2011 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 31, 2012 | Dec. 31, 2013 | Apr. 30, 2012 | Sep. 30, 2009 | Oct. 31, 2011 | Sep. 30, 2009 | Jan. 31, 2014 | Feb. 14, 2014 | Jan. 03, 2014 | Oct. 31, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | SciVac [Member] | SciVac [Member] | ARNO [Member] | Neovasc [Member] | Neovasc [Member] | Neovasc Inc [Member] | Neovasc Inc [Member] | Pharmsynthez [Member] | Pharmsynthez [Member] | Pharmsynthez [Member] | Pharmsynthez [Member] | RXi Pharmaceuticals Corporation [Member] | RXi Pharmaceuticals Corporation [Member] | RXi Pharmaceuticals Corporation [Member] | RXi Pharmaceuticals Corporation [Member] | Chromadex Corporation [Member] | Chromadex Corporation [Member] | Zebra [Member] | BZNE [Member] | BZNE [Member] | Neovasc [Member] | Neovasc [Member] | Neovasc [Member] | TESARO [Member] | Investments [Member] | Investments [Member] | Investments [Member] | PROLOR [Member] | PROLOR [Member] | Cytochroma acquisition [Member] | Cytochroma acquisition [Member] | OPKO Brazil [Member] | OPKO Brazil [Member] | OURLab [Member] | OURLab [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Finetech Acquisition [Member] | Finetech Acquisition [Member] | OPKO Diagnostics [Member] | OPKO Diagnostics [Member] | CURNA [Member] | FineTech [Member] | FineTech [Member] | ALS Acquisition [Member] | ALS Acquisition [Member] | ALS Acquisition [Member] | Cocrystal Discovery Inc [Member] | Cocrystal Discovery Inc [Member] | Cocrystal Discovery Inc [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Series A Preferred Stock [Member] | Restricted Stock [Member] | Common Stock [Member] | ||
Variable Interest Entity, Primary Beneficiary [Member] | Variable Interest Entity, Primary Beneficiary [Member] | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | RUB | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | Sorrento Therapeutics Inc [Member] | Sorrento Therapeutics Inc [Member] | Fabrus [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | Ancillary Transaction One [Member] | Ancillary Transaction One [Member] | Ancillary Transaction Two [Member] | Ancillary Transaction Two [Member] | Ancillary Transaction Two [Member] | Ancillary Transaction Two [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Teva Pharmaceutical Industries [Member] | Investments [Member] | Pharmsynthez [Member] | Farmadiet [Member] | Cocrystal Discovery Inc [Member] | Zebra [Member] | Zebra [Member] | BZNE [Member] | ||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Transaction | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | EUR (€) | Biozone Pharmaceuticals Inc [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
member | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares conversion ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.9951 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Delivery of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 63,670,805 | ' | 20,517,030 | ' | 64,684 | ' | 7,072,748 | ' | 585,703 | ' | ' | ' | ' | ' | 125,000 | ' | 70,421 | 70,421 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $540,600,000 | ' | $146,900,000 | ' | $400,000 | ' | $32,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | ' | ' | ' | $17,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share price (in dollars per share) | ' | ' | ' | ' | $3.27 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8.49 | $8.49 | $7.16 | ' | $6.73 | $6.73 | $4.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options and warrants outstanding (shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,889,265 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of warrants outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 3,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership held by chairman | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of ownership held by directors | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of trading days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | '10 days | ' | '15 days | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition share price on shares issue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.87 | ' | $4.64 | ' | $4.33 | ' | $7.61 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount payable in cash or shares on achieving milestones for acquiring a product in development | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 190,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration | ' | 71,600,000 | ' | 20,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,700,000 | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Issued, Achievement of Milestone | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,993 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid at closing date | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | ' | 9,400,000 | ' | ' | 8,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | 10,000,000 | 10,000,000 | ' | ' | 2,400,000 | 800,000 | ' | ' | ' | ' | ' | 3,400,000 | ' | ' | ' | ' |
Stock consideration issued in the transaction is being held in a separate escrow account to secure the indemnification obligations of OURLab | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,732,102 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | 13,500,000 | ' | ' | ' | ' | ' | 1,300,000 | 1,000,000 | ' | ' | 27,700,000 | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid at closing date percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of deferred payment paid at our option in cash or shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of paid on first anniversary of closing date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Paid in eighteen months after closing date in percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25.00% | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred acquisition payments | ' | 5,465,000 | ' | 6,172,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,800,000 | 6,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred acquisition payments discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Trading Days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Payment to satisfy indemnify claims | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,900,000 | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of ancillary transactions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage for ancillary transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue of common stock / Issue of common stock against acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares issued upon achieving certain milestone | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of amount payable on cash or shares on achieving certain milestone | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase Consideration in cash at closing into a separate escrow account | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consideration paid in common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,700,000 | ' | ' | 22,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share price (usd per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.90 | ' | $5.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,200,000 | ' | 22,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue | ' | 7,600,000 | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for development of technology | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from collection of notes feceivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue received from collaboration agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue related to our license agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue collaboration agreement, offset to research and development | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Received In Satisfaction of Notes Receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | ' | ' | ' | ' | ' |
Issue of common stock shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue related to sale of intellectual property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,500,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Milestone payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | 13,600,000 | 13,600,000 | ' | ' | 17,241,380 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Invested in common shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares Received As Gift | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23.50% | ' | ' |
Investment Owned, Balance, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 840,000 | ' | ' |
Asset purchase agreement financing for Rxi | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | ' | ' | ' | ' | ' | ' |
Equity Method Investment, Realized Gain (Loss) on Disposal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Income | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Acquisitions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 205.0830864 | ' | ' | ' |
Business Acquisition Purchase Of Common Stock Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,333,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to purchase common shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Warrants, Exercise Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Asset Purchase Agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of share options received in purchase agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds to be received from sale of proprietary technology | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,100,000 | 265,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cocrystal on a fully diluted basis | ' | ' | ' | ' | ' | ' | 45.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional working capital | ' | ' | ' | ' | ' | ' | ' | 1,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of members of board of directors | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of members of board of directors appointed by reporting entity | ' | ' | ' | ' | ' | ' | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of board of directors appointed by reporting entity | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise Price of Warrants Acquired In Equity Method Investment | $0.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, stock issued from conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 |
Proceeds from Issuance of Private Placement | 3,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Shares Received for Providing Consulting Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of Warrants Acquired in Equity Method Investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrealized Gain On Warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of options, Granted | ' | 5,722,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 913,750 | 913,750 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 86,250 | 86,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period | ' | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement by Share Based Payment Award Options Grants in Period Grant Date Fair Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of Years Over Which Revenue will be Recognized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments Under License Agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 121,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
License And Collaboration Agreements Proceeds As Up Front Payment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment in Variable Interest Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | ' | ' | ' | ' | ' | ' |
Business Acquisition Purchase Of Series Preferred Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,701,723 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 7,829,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Secured Convertible Promissory Notes Interest Rate Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Cost of Acquired Entity Equity Interests Issued and Issuable Par Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Promissory Notes Maturity Date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24-Feb-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants to Purchase Common Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Shares Received | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Shares Received, Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Shares Received, Escrow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Escrow Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Shares Received, Escrow Shares Available for Buyback, Per Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing for Variable Interest Entities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Current assets include cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,500,000 | ' | 400,000 | ' | ' | ' | ' | 1,100,000 | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 33,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingency Loss And Offsetting Indemnification Asset | ' | 1,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average Closing Sales Price Per Share of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4.84 | ' | $4.45 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Working Capital Surplus | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of Stock Consideration Held in Escrow Account | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Claim Against Escrow for Undisclosed Liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional Paid in Capital, Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Consideration Transferred, Liabilities Incurred | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Cost of Acquired Entity Liabilities Incurred Paid at Closing | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition Cost of Acquired Entity Contingent Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets of equity method investees | ' | 100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total liabilities of equity method investees | ' | 39,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net losses of equity method investees | ' | $75,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Investments_and_L3
Acquisitions, Investments, and Licenses - Summary of Assets Acquired and Liabilities Assumed (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Mar. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2013 | Aug. 29, 2013 | Aug. 29, 2013 | Aug. 29, 2013 | ||||
In Thousands, unless otherwise specified | Cytochroma acquisition [Member] | Cytochroma acquisition [Member] | Cytochroma acquisition [Member] | PROLOR [Member] | PROLOR [Member] | PROLOR [Member] | PROLOR [Member] | |||||||
Patents [Member] | In Process Research and Development [Member] | Patents [Member] | In Process Research and Development [Member] | |||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Current assets | ' | ' | ' | $1,224 | [1] | ' | ' | ' | $21,500 | [1] | ' | ' | ||
Intangible assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
In-process research and development | ' | ' | ' | ' | ' | 191,530 | ' | ' | ' | 590,200 | ||||
Patents | ' | ' | ' | ' | 210 | ' | ' | ' | 0 | ' | ||||
Total intangible assets | ' | ' | ' | 191,740 | ' | ' | ' | 590,200 | ' | ' | ||||
Goodwill | 226,373 | [2] | 80,450 | [2] | 39,815 | 2,411 | ' | ' | 139,784 | 139,784 | ' | ' | ||
Property, plant and equipment | ' | ' | ' | 306 | ' | ' | ' | 1,057 | ' | ' | ||||
Other assets | ' | ' | ' | 0 | ' | ' | ' | 371 | ' | ' | ||||
Accounts payable and accrued expenses | ' | ' | ' | -1,069 | ' | ' | ' | -9,866 | ' | ' | ||||
Business Acquisition, Purchase Price Allocation, Deferred Taxes Asset (Liability), Net, Noncurrent | ' | ' | ' | 0 | ' | ' | ' | -156,403 | ' | ' | ||||
Total purchase price | ' | ' | ' | 194,612 | ' | ' | ' | 586,643 | ' | ' | ||||
Current assets include cash | ' | ' | ' | $400 | ' | ' | ' | $20,500 | ' | ' | ||||
[1] | Current assets include cash of $0.4 million and $20.5 million related to the Cytochroma and PROLOR acquisitions, respectively | |||||||||||||
[2] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Summary_Estimated_Fair_Value_o
- Summary Estimated Fair Value of Assets and Liabilities Assumed (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | |||||
Intangible assets: | ' | ' | ' | ||
Goodwill | $226,373 | [1] | $80,450 | [1] | $39,815 |
OURLab [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Current assets | 6,020 | ' | ' | ||
Intangible assets: | ' | ' | ' | ||
Customer relationships | 3,860 | ' | ' | ||
Technology | 1,370 | ' | ' | ||
In-process research and development | 0 | ' | ' | ||
Product registrations | 0 | ' | ' | ||
Licenses | 70 | ' | ' | ||
Covenants not to compete | 6,900 | ' | ' | ||
Tradename | 1,830 | ' | ' | ||
Total intangible assets | 14,030 | ' | ' | ||
Goodwill | 29,629 | ' | ' | ||
Property, plant and equipment | 2,117 | ' | ' | ||
Other assets | 37 | ' | ' | ||
Accounts payable and accrued expenses | -3,214 | ' | ' | ||
Deferred tax liability | -6,356 | ' | ' | ||
Debt assumed | 0 | ' | ' | ||
Total purchase price | 42,263 | ' | ' | ||
Farmadiet [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Current assets | 8,367 | ' | ' | ||
Intangible assets: | ' | ' | ' | ||
Customer relationships | 436 | ' | ' | ||
Technology | 3,017 | ' | ' | ||
In-process research and development | 1,459 | ' | ' | ||
Product registrations | 2,930 | ' | ' | ||
Licenses | 0 | ' | ' | ||
Covenants not to compete | 187 | ' | ' | ||
Tradename | 349 | ' | ' | ||
Total intangible assets | 8,378 | ' | ' | ||
Goodwill | 8,062 | ' | ' | ||
Property, plant and equipment | 7,205 | ' | ' | ||
Other assets | 611 | ' | ' | ||
Accounts payable and accrued expenses | -3,438 | ' | ' | ||
Deferred tax liability | -3,169 | ' | ' | ||
Debt assumed | -7,829 | ' | ' | ||
Total purchase price | 18,187 | ' | ' | ||
ALS Acquisition [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Current assets | 767 | ' | ' | ||
Intangible assets: | ' | ' | ' | ||
Customer relationships | 0 | ' | ' | ||
Technology | 0 | ' | ' | ||
In-process research and development | 0 | ' | ' | ||
Product registrations | 2,300 | ' | ' | ||
Licenses | 0 | ' | ' | ||
Covenants not to compete | 0 | ' | ' | ||
Tradename | 680 | ' | ' | ||
Total intangible assets | 2,980 | ' | ' | ||
Goodwill | 458 | ' | ' | ||
Property, plant and equipment | 24 | ' | ' | ||
Other assets | 0 | ' | ' | ||
Accounts payable and accrued expenses | -229 | ' | ' | ||
Deferred tax liability | 0 | ' | ' | ||
Debt assumed | 0 | ' | ' | ||
Total purchase price | $4,000 | ' | ' | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Acquisitions_Investments_and_L4
Acquisitions, Investments, and Licenses - Summary of Pro Forma Results (Details) (Cytochroma and PROLOR [Member], USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Cytochroma and PROLOR [Member] | ' | ' |
Pro Forma Result of Combined Companies | ' | ' |
Revenues | $96,530 | $53,595 |
Loss from continuing operations | 0 | -63,479 |
Net loss | -147,546 | -55,663 |
Net loss attributable to common shareholders | ($145,027) | ($57,411) |
Basic and diluted loss from continuing operations per share | ($0.37) | ($0.15) |
Basic and diluted loss from discontinued operations per share | $0 | $0 |
Basic and diluted loss per share (in dollars per share) | ($0.37) | ($0.15) |
Acquisitions_Investments_and_L5
Acquisitions, Investments, and Licenses - Summary of Investments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, except Per Share data, unless otherwise specified | |||||
Investment [Line Items] | ' | ' | ' | ||
Investment, available for sale | $4,301 | $5,335 | ' | ||
Plus unrealized/realized gains on investments, options and warrants, net | 12,766 | ' | ' | ||
Less accumulated losses in investees | -18,474 | ' | ' | ||
Investments, net | 30,653 | [1] | 15,636 | [1] | ' |
Share price (in dollars per share) | ' | ' | $3.27 | ||
Cocrystal [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 16.00% | ' | ' | ||
Investment, equity method | 2,500 | ' | ' | ||
Underlying equity in net assets | 205 | ' | ' | ||
Neovasc [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 6.00% | ' | ' | ||
Investment, equity method | 3,798 | ' | ' | ||
Underlying equity in net assets | 325 | ' | ' | ||
Fabrus [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 12.00% | ' | ' | ||
Investment, equity method | 750 | ' | ' | ||
Underlying equity in net assets | -160 | ' | ' | ||
BZNE [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 16.00% | ' | ' | ||
Investment, equity method | 2,976 | ' | ' | ||
Underlying equity in net assets | -1,686 | ' | ' | ||
RXi [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 19.00% | ' | ' | ||
Investment, equity method | 15,000 | ' | ' | ||
Underlying equity in net assets | 2,444 | ' | ' | ||
Pharmasynthez [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 11.00% | ' | ' | ||
Investment, equity method | 5,036 | ' | ' | ||
Underlying equity in net assets | 5,156 | ' | ' | ||
Zebra [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 19.00% | ' | ' | ||
Investment, equity method | 2,000 | ' | ' | ||
Underlying equity in net assets | 1,220 | ' | ' | ||
TESARO [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 1.00% | ' | ' | ||
Investment, available for sale | 56 | ' | ' | ||
Share price (in dollars per share) | $28.24 | ' | ' | ||
Neovasc Options [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Investment, available for sale | 925 | ' | ' | ||
Share price (in dollars per share) | $4.10 | ' | ' | ||
ChromaDex [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 1.00% | ' | ' | ||
Investment, available for sale | 1,320 | ' | ' | ||
Share price (in dollars per share) | $1.52 | ' | ' | ||
ARNO [Member] | ' | ' | ' | ||
Investment [Line Items] | ' | ' | ' | ||
Ownership percentage | 5.00% | ' | ' | ||
Investment, available for sale | $2,000 | ' | ' | ||
Share price (in dollars per share) | $3.20 | ' | ' | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Acquisitions_Investments_and_L6
Acquisitions, Investments, and Licenses - Schedule of Consolidated Assets and Non-Recourse Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||
In Thousands, unless otherwise specified | ||||||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | $185,798 | [1] | $27,361 | [1] | $71,516 | $18,016 |
Accounts receivable, net | 19,767 | [1] | 21,162 | [1] | ' | ' |
Inventory, net | 18,079 | [1] | 22,261 | [1] | ' | ' |
Prepaid expenses and other current assets | 19,084 | [1] | 7,873 | [1] | ' | ' |
Total current assets | 242,728 | [1] | 78,657 | [1] | ' | ' |
Property, plant and equipment, net | 17,027 | 15,705 | ' | ' | ||
Intangible assets, net | 74,533 | [1] | 84,238 | [1] | ' | ' |
Goodwill | 226,373 | [1] | 80,450 | [1] | 39,815 | ' |
Other assets | 6,861 | [1] | 2,777 | [1] | ' | ' |
Total assets | 1,391,516 | [1] | 289,830 | [1] | ' | ' |
Current liabilities: | ' | ' | ' | ' | ||
Accounts payable | 13,414 | [1] | 10,200 | [1] | ' | ' |
Accrued expenses | 65,874 | [1] | 24,656 | [1] | ' | ' |
Total current liabilities | 91,850 | [1] | 52,382 | [1] | ' | ' |
Other long-term liabilities | 214,775 | [1] | 34,168 | [1] | ' | ' |
Total liabilities | 518,537 | [1] | 86,550 | [1] | ' | ' |
SciVac [Member] | Variable Interest Entity, Primary Beneficiary [Member] | ' | ' | ' | ' | ||
Current assets: | ' | ' | ' | ' | ||
Cash and cash equivalents | 2 | 174 | ' | ' | ||
Accounts receivable, net | 283 | 387 | ' | ' | ||
Inventory, net | 1,696 | 1,092 | ' | ' | ||
Prepaid expenses and other current assets | 218 | 199 | ' | ' | ||
Total current assets | 2,199 | 1,852 | ' | ' | ||
Property, plant and equipment, net | 1,374 | 1,539 | ' | ' | ||
Intangible assets, net | 1,111 | 1,154 | ' | ' | ||
Goodwill | 1,821 | 796 | ' | ' | ||
Other assets | 261 | 231 | ' | ' | ||
Total assets | 6,766 | 5,572 | ' | ' | ||
Current liabilities: | ' | ' | ' | ' | ||
Accounts payable | 1,136 | 1,108 | ' | ' | ||
Accrued expenses | 6,498 | 2,859 | ' | ' | ||
Notes payable | 1,537 | 0 | ' | ' | ||
Total current liabilities | 9,171 | 3,967 | ' | ' | ||
Other long-term liabilities | 1,240 | 1,529 | ' | ' | ||
Total liabilities | $10,411 | $5,496 | ' | ' | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financial information for the discontinued operations presented in the Condensed Consolidated Statements of Operations | ' | ' | ' |
Total revenue | ' | $0 | $4,254 |
Operating income (loss) | ' | 177 | -3,434 |
Gain on sale to Optos | ' | 0 | 10,597 |
Income (loss) before provision for income taxes | ' | 177 | 7,142 |
Income (loss) from discontinued operations, net of tax | $0 | $109 | $5,181 |
Discontinued_Operations_Detail1
Discontinued Operations (Details Textual) (USD $) | 1 Months Ended | 12 Months Ended | ||
Oct. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Discontinued Operations and Disposal Groups [Abstract] | ' | ' | ' | ' |
Cash received from disposal of business | $17,500,000 | ' | ' | ' |
Estimated royalty to be received from disposal of business | 22,500,000 | ' | ' | ' |
Income (loss) from discontinued operations, net of tax | ' | $0 | $109,000 | $5,181,000 |
Composition_of_Certain_Financi2
Composition of Certain Financial Statement Captions (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Accounts receivable, net: | ' | ' | ||
Accounts receivable | $21,652 | $21,636 | ||
Less: allowance for doubtful accounts | -1,885 | -474 | ||
Accounts receivable, net | 19,767 | [1] | 21,162 | [1] |
Inventories, net: | ' | ' | ||
Finished products | 13,374 | 17,963 | ||
Work in-process | 1,350 | 688 | ||
Raw materials | 4,132 | 4,923 | ||
Less: inventory reserve | -777 | -1,313 | ||
Inventory, net | 18,079 | [1] | 22,261 | [1] |
Prepaid expense and other assets: | ' | ' | ||
Prepaid supplies | 945 | 443 | ||
Prepaid insurance | 892 | 301 | ||
Pharmsynthez Note Receivable and Purchase Option | 6,151 | 0 | ||
Other receivables | 1,985 | 886 | ||
Taxes recoverable | 3,458 | 1,493 | ||
Other | 5,653 | 4,750 | ||
Prepaid expenses and other current assets | 19,084 | [1] | 7,873 | [1] |
Property, plant and equipment, net: | ' | ' | ||
Machinery and equipment | 11,656 | 7,984 | ||
Building | 3,615 | 3,457 | ||
Land | 2,666 | 2,619 | ||
Furniture and fixtures | 2,051 | 1,908 | ||
Software | 807 | 853 | ||
Leasehold improvements | 3,107 | 2,616 | ||
Construction in process | 489 | 0 | ||
Less: accumulated depreciation | -7,364 | -3,732 | ||
Property, plant and equipment, net | 17,027 | 15,705 | ||
Investment properties, net: | ' | ' | ||
Building | 0 | 384 | ||
Land | 0 | 450 | ||
Less: accumulated depreciation | 0 | -13 | ||
Investment Properties Net | 0 | 821 | ||
Intangible assets, net: | ' | ' | ||
Less: accumulated amortization | 24,403 | 14,072 | ||
Intangible assets, net | 74,533 | [1] | 84,238 | [1] |
Accrued expenses: | ' | ' | ||
Taxes payable | 702 | 1,614 | ||
Deferred revenue | 7,639 | 1,518 | ||
Clinical trials | 3,342 | 50 | ||
Professional fees | 402 | 675 | ||
Employee benefits | 4,399 | 3,319 | ||
Deferred acquisition payments, net of discount | 5,465 | 6,172 | ||
Contingent consideration | 28,047 | 5,126 | ||
Interest payable related to the Notes | 0 | 0 | ||
Other | 15,878 | 6,182 | ||
Accrued expenses | 65,874 | [1] | 24,656 | [1] |
Other long-term liabilities: | ' | ' | ||
Deferred acquisition payments, net of discount | 0 | 3,931 | ||
Mortgages and other debts payable | 3,270 | 5,150 | ||
Deferred tax liabilities | 166,435 | 9,777 | ||
Other, including deferred revenue | 1,509 | 380 | ||
Other long-term liabilities | 214,775 | [1] | 34,168 | [1] |
Cytochroma [Member] | ' | ' | ||
Other long-term liabilities: | ' | ' | ||
Contingent consideration | 34,401 | 0 | ||
Farmadiet [Member] | ' | ' | ||
Other long-term liabilities: | ' | ' | ||
Contingent consideration | 504 | 532 | ||
OPKO Diagnostics [Member] | ' | ' | ||
Other long-term liabilities: | ' | ' | ||
Contingent consideration | 8,340 | 11,310 | ||
FineTech [Member] | ' | ' | ||
Other long-term liabilities: | ' | ' | ||
Contingent consideration | 0 | 2,578 | ||
CURNA [Member] | ' | ' | ||
Other long-term liabilities: | ' | ' | ||
Contingent consideration | 316 | 510 | ||
Technologies [Member] | ' | ' | ||
Intangible assets, net: | ' | ' | ||
Intangible assets | 51,660 | 52,810 | ||
Customer relationships [Member] | ' | ' | ||
Intangible assets, net: | ' | ' | ||
Intangible assets | 22,725 | 23,088 | ||
Product registrations [Member] | ' | ' | ||
Intangible assets, net: | ' | ' | ||
Intangible assets | 9,692 | 9,637 | ||
Tradenames [Member] | ' | ' | ||
Intangible assets, net: | ' | ' | ||
Intangible assets | 3,669 | 3,746 | ||
Covenants not to compete [Member] | ' | ' | ||
Intangible assets, net: | ' | ' | ||
Intangible assets | 8,671 | 8,662 | ||
Other [Member] | ' | ' | ||
Intangible assets, net: | ' | ' | ||
Intangible assets | $2,519 | $367 | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Composition_of_Certain_Financi3
Composition of Certain Financial Statement Captions (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 29, 2013 | Dec. 31, 2013 | ||||||
In Thousands, unless otherwise specified | Technology [Member] | Customer relationships [Member] | Product registrations [Member] | Covenants Not to Compete [Member] | Tradename [Member] | Other [Member] | OPKO Chile [Member] | OPKO Chile [Member] | OPKO Chile [Member] | OPKO Chile [Member] | Exakta OPKO [Member] | Exakta OPKO [Member] | Exakta OPKO [Member] | Exakta OPKO [Member] | Exakta OPKO [Member] | CURNA [Member] | CURNA [Member] | CURNA [Member] | OPKO Diagnostics [Member] | OPKO Diagnostics [Member] | FineTech [Member] | FineTech [Member] | FineTech [Member] | FineTech [Member] | FineTech [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | Farmadiet [Member] | OURLab [Member] | OURLab [Member] | OURLab [Member] | OURLab [Member] | OURLab [Member] | OURLab [Member] | SciGen [Member] | SciGen [Member] | SciGen [Member] | OPKO Brazil [Member] | OPKO Brazil [Member] | Cytochroma [Member] | Cytochroma [Member] | Cytochroma [Member] | PROLOR [Member] | PROLOR [Member] | PROLOR [Member] | |||||||||
Customer relationships [Member] | Product registrations [Member] | Tradename [Member] | Customer relationships [Member] | Product registrations [Member] | Covenants Not to Compete [Member] | Tradename [Member] | In-process research research and development [Member] | Other [Member] | Technology [Member] | Technology [Member] | Customer relationships [Member] | Covenants Not to Compete [Member] | Tradename [Member] | Technology [Member] | In-process research research and development [Member] | Customer relationships [Member] | Product registrations [Member] | Covenants Not to Compete [Member] | Tradename [Member] | Technology [Member] | Customer relationships [Member] | Covenants Not to Compete [Member] | Tradename [Member] | Other [Member] | Technology [Member] | Customer relationships [Member] | Other [Member] | In-process research research and development [Member] | Other [Member] | In-process research research and development [Member] | ||||||||||||||||||||||||||||
Fair values assigned to major intangible asset classes upon each acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Total identified intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | $10,806 | [1] | $3,945 | [1] | $5,829 | [1] | $1,032 | [1] | $345 | $121 | $77 | $70 | $77 | $10,290 | $10,000 | $290 | $44,400 | $44,400 | $18,800 | $2,700 | $14,200 | $1,500 | $400 | $8,378 | $3,017 | $1,459 | $436 | $2,930 | $187 | $349 | $14,030 | $1,370 | $3,860 | $6,900 | $1,830 | $70 | $1,130 | $1,090 | $40 | $686 | $686 | $191,740 | $191,530 | $210 | $590,200 | ' | $590,200 | ||
Goodwill | $226,373 | [2] | $80,450 | [2] | $39,815 | ' | ' | ' | ' | ' | ' | $5,441 | [1] | ' | ' | ' | $21 | ' | ' | ' | ' | $4,827 | ' | ' | $17,977 | ' | $11,623 | ' | ' | ' | ' | $8,062 | ' | ' | ' | ' | ' | ' | $29,629 | ' | ' | ' | ' | ' | $760 | ' | ' | ' | ' | $2,411 | ' | ' | $139,784 | $139,784 | ' | |||
Weighted average amortization period | ' | ' | ' | '9 years | '6 years | '9 years | '5 years | '4 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
[1] | Current assets include cash of $0.4 million and $20.5 million related to the Cytochroma and PROLOR acquisitions, respectively | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Composition_of_Certain_Financi4
Composition of Certain Financial Statement Captions (Details 2) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance for doubtful accounts [Member] | ' | ' |
Allowance for doubtful accounts for inventory reserve and tax valuation | ' | ' |
Beginning balance | ($474) | ($440) |
Charged to expense | -979 | -86 |
Written-off | 28 | 86 |
Charged to other | -459 | -34 |
Ending balance | -1,884 | -474 |
Inventory Reserve [Member] | ' | ' |
Allowance for doubtful accounts for inventory reserve and tax valuation | ' | ' |
Beginning balance | -1,313 | -325 |
Charged to expense | -2,015 | -2,544 |
Written-off | 2,188 | 1,582 |
Charged to other | 363 | -26 |
Ending balance | -777 | -1,313 |
Tax valuation allowance [Member] | ' | ' |
Allowance for doubtful accounts for inventory reserve and tax valuation | ' | ' |
Beginning balance | -59,145 | -53,255 |
Charged to expense | -1,148 | 9,626 |
Charged to other | -25,077 | -15,516 |
Ending balance | ($85,370) | ($59,145) |
Composition_of_Certain_Financi5
Composition of Certain Financial Statement Captions Composition of Certain Financial Statement Captions (Details 3) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | ||
Sci Gen [Member] | Cytochroma [Member] | PROLOR [Member] | PROLOR [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Pharmaceutical [Member] | Diagnostics [Member] | Diagnostics [Member] | Diagnostics [Member] | Diagnostics [Member] | |||||
MEXICO | MEXICO | CHILE | CHILE | CURNA [Member] | CURNA [Member] | Farmadiet [Member] | Farmadiet [Member] | FineTech [Member] | FineTech [Member] | Sci Gen [Member] | Sci Gen [Member] | Cytochroma [Member] | Cytochroma [Member] | PROLOR [Member] | PROLOR [Member] | Claros [Member] | Claros [Member] | Opko Diagnostics [Member] | Opko Diagnostics [Member] | |||||||||
Goodwill [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Beginning balance | $80,450 | [1] | $39,815 | $760 | $2,411 | $139,784 | $139,784 | $114 | $106 | $6,697 | $5,282 | $4,827 | $4,827 | $8,712 | $0 | $11,698 | $11,623 | $796 | $0 | $0 | $0 | $0 | $0 | $17,977 | $17,977 | $29,629 | $0 | |
Acquisitions | 142,195 | 38,739 | ' | ' | ' | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8,313 | 0 | 0 | 0 | 796 | 2,411 | 0 | 139,784 | 0 | 0 | 0 | 0 | 29,629 | ||
Foreign exchange, other | 3,729 | 1,896 | ' | ' | ' | ' | 0 | 8 | -594 | 1,415 | 0 | 0 | 363 | 399 | 0 | 74 | 943 | 0 | -342 | 0 | 0 | 0 | 0 | 0 | 3,359 | 0 | ||
Ending balance | $226,373 | [1] | $80,450 | [1] | $760 | $2,411 | $139,784 | $139,784 | $113 | $114 | $6,102 | $6,697 | $4,827 | $4,827 | $9,075 | $8,712 | $11,698 | $11,698 | $1,740 | $796 | $2,069 | $0 | $139,784 | $0 | $17,977 | $17,977 | $32,988 | $29,629 |
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Debt_Details
Debt (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Jan. 30, 2013 |
Notes [Member] | Notes [Member] | ||||
Debt Instrument [Roll Forward] | ' | ' | ' | ' | ' |
Embedded derivatives, beginning balance | ' | ' | ' | ' | $59,204 |
Convertible notes, beginning balance | ' | ' | ' | ' | 175,000 |
Discount, beginning balance | ' | ' | ' | ' | -59,204 |
Total, beginning balance | ' | ' | ' | ' | 175,000 |
Amortization of debt discount | ' | ' | ' | 6,596 | ' |
Change in fair value of embedded derivative | -36,489 | 1,340 | -39 | 43,082 | ' |
Embedded derivative, conversion | ' | ' | ' | -1,199 | ' |
Convertible notes, conversion | ' | ' | ' | -16,936 | ' |
Conversion of debt discount | ' | ' | ' | 5,369 | ' |
Total, conversion | ' | ' | ' | -12,766 | ' |
Embedded derivatives, ending balance | ' | ' | ' | 101,087 | 59,204 |
Convertible notes, ending balance | ' | ' | ' | 158,064 | 175,000 |
Discount, ending balance | ' | ' | ' | -47,239 | -59,204 |
Total, ending balance | ' | ' | ' | $211,912 | $175,000 |
Debt_Details_1
Debt (Details 1) (USD $) | Dec. 31, 2011 | Aug. 29, 2013 | Jan. 30, 2013 | Dec. 31, 2013 |
Notes [Member] | Notes [Member] | Notes [Member] | ||
Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | ||
Rate | Rate | |||
Debt Instrument [Line Items] | ' | ' | ' | ' |
Share price (in dollars per share) | $3.27 | ' | $6.20 | $8.44 |
Conversion Rate | ' | 141.4827 | 141.4827 | 141.4827 |
Conversion Price | ' | ' | $7.07 | $7.07 |
Maturity date | ' | ' | 1-Feb-33 | 1-Feb-33 |
Risk-free interest rate | ' | ' | 1.12% | 1.78% |
Estimated stock volatility | ' | ' | 40.00% | 55.00% |
Estimated credit spread | ' | ' | 9.44% | 8.28% |
Debt_Details_2
Debt (Details 2) (Notes [Member], USD $) | Dec. 31, 2013 | Jan. 30, 2013 |
In Thousands, unless otherwise specified | ||
Notes [Member] | ' | ' |
Fair value of Notes: | ' | ' |
With the embedded derivatives | $218,081 | $175,000 |
Without the embedded derivatives | 116,993 | 115,796 |
Estimated fair value of the embedded derivatives | $101,087 | $59,204 |
Debt_Details_3
Debt (Details 3) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Line of Credit Facility [Line Items] | ' | ' |
Credit line capacity | $14,524,000 | ' |
Balance outstanding | 9,061,000 | 15,195,000 |
Itau Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 8.04% | ' |
Credit line capacity | 3,000,000 | ' |
Balance outstanding | 1,999,000 | 2,738,000 |
Bank of Chile [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 7.80% | ' |
Credit line capacity | 2,250,000 | ' |
Balance outstanding | 2,079,000 | 2,292,000 |
BICE Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 5.50% | ' |
Credit line capacity | 1,500,000 | ' |
Balance outstanding | 516,000 | 2,451,000 |
Corp Banca [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 5.50% | ' |
Credit line capacity | 0 | ' |
Balance outstanding | -47,000 | 1,248,000 |
BBVA Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 8.29% | ' |
Credit line capacity | 2,000,000 | ' |
Balance outstanding | 523,000 | 2,823,000 |
Penta Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 9.48% | ' |
Credit line capacity | 1,000,000 | ' |
Balance outstanding | 946,000 | 833,000 |
Security Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 7.56% | ' |
Credit line capacity | 1,337,340 | ' |
Balance outstanding | 1,075,000 | 0 |
BCI [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 5.50% | ' |
Credit line capacity | 198,000 | ' |
Balance outstanding | 198,000 | 0 |
Estado Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 6.88% | ' |
Credit line capacity | 2,000,000 | ' |
Balance outstanding | 1,772,000 | 1,963,000 |
Sabadell Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 7.60% | ' |
Credit line capacity | 0 | ' |
Balance outstanding | 0 | 3,000 |
Bilbao Vizcaya Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 4.90% | ' |
Credit line capacity | 344,200 | ' |
Balance outstanding | 0 | 377,000 |
Banco Popular [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 8.25% | ' |
Credit line capacity | 275,300 | ' |
Balance outstanding | 0 | 260,000 |
Santander Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 6.00% | ' |
Credit line capacity | 206,500 | ' |
Balance outstanding | 0 | 0 |
Banesto [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 5.80% | ' |
Credit line capacity | 206,500 | ' |
Balance outstanding | 0 | 163,000 |
Banca March [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 6.25% | ' |
Credit line capacity | 0 | ' |
Balance outstanding | 0 | 44,000 |
Deutsche Bank [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Interest rate on borrowings | 4.00% | ' |
Credit line capacity | $206,000 | ' |
Debt_Details_4
Debt (Details 4) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Mortgage notes and other debt payables | ' | ' | ||
Current portion of lines of credit and notes payable | $12,562 | [1] | $17,526 | [1] |
Other long-term liabilities | 3,270 | 5,150 | ||
Farmadiet [Member] | ' | ' | ||
Mortgage notes and other debt payables | ' | ' | ||
Current portion of lines of credit and notes payable | 1,964 | 2,331 | ||
Other long-term liabilities | 3,270 | 3,916 | ||
Total mortgage notes and other debt payables | $5,234 | $6,247 | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Debt_Details_Textual
Debt (Details Textual) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 29, 2013 | Jan. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
institution | Farmadiet [Member] | Farmadiet [Member] | Minimum [Member] | Maximum [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Line of Credit [Member] | Line of Credit [Member] | |||
Farmadiet [Member] | Farmadiet [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | ||||||||
conversion_right | Rate | Rate | Minimum [Member] | Maximum [Member] | On or after February 1, 2017 and before February 1, 2019 [Member] | On or after February 1, 2019 [Member] | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt face amount | ' | ' | ' | ' | ' | ' | ' | ' | $175,000,000 | $158,100,000 | ' | ' | ' | ' | ' | ' | ' |
Interest rate of notes payable | 3.00% | ' | ' | ' | ' | ' | ' | ' | 3.00% | 3.00% | 3.00% | ' | ' | ' | ' | ' | ' |
Equivalent redemption price | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | 100.00% | 100.00% | ' | ' |
Convertible debt, conversion ratio | ' | ' | ' | ' | ' | ' | ' | 141.4827 | 141.4827 | 141.4827 | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, principal amount for conversion | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, conversion price | ' | ' | ' | ' | ' | ' | ' | ' | $7.07 | $7.07 | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, conversion right triggered | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, converted amount | ' | 0 | 0 | ' | ' | ' | ' | 16,900,000 | ' | 20,839,000 | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, stock issued from conversion | ' | ' | ' | ' | ' | ' | ' | 2,396,145 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on conversion of 3.00% convertible senior notes | -8,688,000 | 0 | 0 | ' | ' | ' | ' | 8,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, threshold percentage of stock price trigger | ' | ' | ' | ' | ' | ' | ' | ' | ' | 130.00% | ' | ' | ' | ' | ' | ' | ' |
Number of trading days applicable conversion price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 days | ' | ' | ' | ' | ' |
Number of consecutive trading days applicable conversion price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '30 days | ' | ' | ' | ' |
Gain (loss) on embedded derivative | $43,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of financial institutions | 16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | ' | ' | 3.90% | 4.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.70% | 6.50% |
Variable interest rates | ' | ' | ' | ' | ' | 2.70% | 6.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shareholders_Equity_Details
Shareholders' Equity (Details) (Warrant [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Warrant [Member] | ' |
Additional information for warrants outstanding | ' |
Number of warrants, Outstanding at December 31, 2012 | 25,841,868 |
Weighted average exercise price, Outstanding at December 31, 2012 | $0.95 |
Number of warrants, Issued | 281,622 |
Weighted average exercise price, Issued | $0.89 |
Number of warrants, Exercised | -1,626,826 |
Weighted average exercise price, Exercised | $0 |
Number of warrants, Expired | 0 |
Weighted average exercise price, Expired | $0 |
Outstanding and Exercisable at December 31, 2013 | 24,496,664 |
Weighted average exercise price, Outstanding and Exercisable at December 31, 2013 | $0.94 |
Shareholders_Equity_Details_Te
Shareholders' Equity (Details Textual) (USD $) | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 08, 2013 | Oct. 31, 2011 | Dec. 31, 2013 | Jun. 30, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Jun. 03, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 22, 2007 | Mar. 08, 2013 | Oct. 31, 2011 | Dec. 31, 2013 | |
Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series C Preferred Stock [Member] | Series D Preferred Stock | Series D Preferred Stock | Series D Preferred Stock | ||||
Stockholder | |||||||||||||||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares authorized (in shares) | 750,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, par value | $0.01 | $0.01 | $3.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, shares authorized (in shares) | 10,000,000 | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | 4,000,000 | ' | 500,000 | 500,000 | ' | ' | ' | 2,000,000 |
Preferred Stock, par value (in dollars per share) | $0.01 | ' | ' | ' | ' | ' | ' | $0.01 | ' | $0.01 | ' | $0.01 | $0.01 | ' | ' | ' | ' |
Exercise of common stock warrants, shares | ' | ' | ' | ' | ' | 1,626,826 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares surrendered in lieu of cash payment | 139,052 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Designate shares of preferred stock | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividends payable on Series A preferred stock | ' | ' | ' | ' | ' | ' | ' | $0.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Redemption of Series A Preferred Stock, shares | ' | ' | ' | ' | ' | ' | 602,759 | ' | 602,759 | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock aggregate redemption price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,800,000 | ' | ' | ' | ' | ' | ' |
Preferred Stock, shares outstanding | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | 0 | 0 | 457,603 | ' | ' | ' |
Number of stock holders held Series C preferred stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30 | ' | ' | ' |
Preferred Share Per share Arrears | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.54 | ' | ' | ' | ' | $2.30 |
Rate of dividend per annum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% |
Cash on amount per outstanding shares | $24.80 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Series D preferred stock | ' | ' | ' | ' | 940,141 | ' | ' | ' | -294,680 | ' | ' | ' | ' | ' | ' | 80,654 | ' |
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 3,015,000 | 0 | 4,704,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | ' | ' |
Number of Series D Preferred Stock converted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,129,032 | ' | 10 |
Conversion of Stock, Shares Issued | ' | ' | ' | 11,290,320 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, shares outstanding (in shares) | 0 | 1,129,032 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Total cash dividend | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 |
Preferred Shares Arrears | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,600,000 |
Conversion Price | $2.48 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Closing Bid Price | $5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of consecutive trading days | '30 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Accumulated Other Comprehensive Income (Loss), Net [Rollforward] | ' | ' | ' | ||
Beginning Balance | $7,356 | [1] | ' | ' | |
Ending Balance | 3,418 | [1] | 7,356 | [1] | ' |
Effective tax rate | -1.50% | 24.80% | 74.90% | ||
Foreign currency [Member] | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net [Rollforward] | ' | ' | ' | ||
Beginning Balance | 3,196 | ' | ' | ||
Other comprehensive income before reclassifications, net of tax | -1,825 | [2] | ' | ' | |
Amounts reclassified from accumulated other comprehensive income, net of tax | ' | [2] | ' | ' | |
Net other comprehensive income | -1,825 | ' | ' | ||
Ending Balance | 1,371 | ' | ' | ||
Unrealized gains in Accumulated OCI [Member] | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net [Rollforward] | ' | ' | ' | ||
Beginning Balance | 4,160 | ' | ' | ||
Other comprehensive income before reclassifications, net of tax | 2,467 | [2] | ' | ' | |
Amounts reclassified from accumulated other comprehensive income, net of tax | -4,580 | [2] | ' | ' | |
Net other comprehensive income | -2,113 | ' | ' | ||
Ending Balance | $2,047 | ' | ' | ||
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ||
Accumulated Other Comprehensive Income (Loss), Net [Rollforward] | ' | ' | ' | ||
Effective tax rate | 38.47% | ' | ' | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. | ||||
[2] | Effective tax rate of 38.47%. |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Details Textual) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Equity [Abstract] | ' |
Realized gain | $10.80 |
Unrealized gain reclassified | $7.50 |
EquityBased_Compensation_Detai
Equity-Based Compensation (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Schedule of stock options | ' | ' | ' |
Risk-free interest rate, Minimum | 0.15% | 0.09% | 1.30% |
Risk-free interest rate, Maximum | 2.45% | 2.61% | 2.70% |
Expected volatility | ' | 69.00% | ' |
Expected volatility, Minimum | 31.00% | ' | 69.00% |
Expected volatility, Maximum | 83.00% | ' | 74.00% |
Expected dividend yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | ' | ' | ' |
Schedule of stock options | ' | ' | ' |
Expected term | '1 year | '1 year | '7 months 6 days |
Maximum [Member] | ' | ' | ' |
Schedule of stock options | ' | ' | ' |
Expected term | '7 years | '7 years | '7 years |
EquityBased_Compensation_Detai1
Equity-Based Compensation (Details 1) (USD $) | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Summary of option activity under stock plans | ' | ' |
Number of options Outstanding, Beginning balance | 17,761,804 | ' |
Number of options, Granted | 5,722,000 | ' |
Number of options, Assumed from PROLOR | 7,612,537 | ' |
Number of options, Exercised | -9,254,744 | ' |
Number of options, Forfeited | -488,500 | ' |
Number of options, Expired | -2,500 | ' |
Number of options Outstanding, Ending balance | 21,350,597 | 17,761,804 |
Weighted Average Exercise Price, Beginning balance | $2.90 | ' |
Weighted Average Exercise Price, Granted | $7.76 | ' |
Weighted Average Exercise Price, Assumed from PROLOR | $3.09 | ' |
Weighted Average Exercise Price, Exercised | $2.46 | ' |
Weighted Average Exercise Price, Forfeited | $2.44 | ' |
Weighted Average Exercise Price, Expired | $4.02 | ' |
Weighted Average Exercise Price, Ending balance | $4.47 | $2.90 |
Weighted average remaining contractual term, Outstanding, Beginning balance | '4 years 10 months 6 days | '3 years 9 months 18 days |
Weighted average remaining contractual term, Outstanding, Ending balance | '4 years 10 months 6 days | '3 years 9 months 18 days |
Aggregate intrinsic value, Outstanding, Beginning balance | $34,227 | ' |
Aggregate intrinsic value, Outstanding, Ending balance | 85,186 | 34,227 |
Vested and expected to vest, Number of options | 19,765,840 | ' |
Exercisable, Number of options | 11,088,879 | ' |
Vested and expected to vest, Weighted Average Exercise Price | $4.35 | ' |
Exercisable, Weighted Average Exercise Price | $3.13 | ' |
Weighted average remaining contractual term, Vested and expected to vest | '4 years 9 months 15 days | ' |
Weighted average remaining contractual term, Exercisable | '4 years 2 months 16 days | ' |
Aggregate intrinsic value, Vested and expected to vest | 81,229 | ' |
Exercisable, Aggregate intrinsic value | $58,889 | ' |
EquityBased_Compensation_Detai2
Equity-Based Compensation (Details 2) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of grant date fair value under stock option activity | ' |
Number of options, Non Vested, Beginning balance | 6,227,914 |
Number of options, Granted | 5,722,000 |
Number of options, Forfeited | 488,500 |
Number of options, Non Vested, Ending balance | 10,261,718 |
Weighted average grant date fair value, Nonvested, Beginning balance | $1.45 |
Weighted average grant date fair value, Granted | $4 |
Weighted average grant date fair value, Forfeited | $1.37 |
Weighted average grant date fair value, Nonvested, Ending balance | $3.20 |
EquityBased_Compensation_Detai3
Equity-Based Compensation (Details Textual) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2009 | |
Plan | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Number of equity-based incentive compensation plans | 5 | ' | ' | ' |
Expiration period | '10 years | ' | ' | ' |
Vesting period | '5 years | ' | ' | '5 years |
Excess tax benefits | $0 | $0 | $0 | ' |
Unrecognized compensation cost | 32,100,000 | ' | ' | ' |
Weighted-average expected period for recognition | '2 years 9 months 19 days | ' | ' | ' |
Expected volatility for options based on historical volatility | '6 years | ' | ' | ' |
Expected volatility for options based on a peer group | '7 years | ' | ' | ' |
Common stock shares reserved for issuance | 21,399,502 | ' | ' | ' |
Intrinsic value of stock options exercised | 59,500,000 | 2,400,000 | 800,000 | ' |
Weighted average grant date fair value of stock options granted | $4 | $2.44 | $2.49 | ' |
Fair value of stock options vested | 5,900,000 | 3,400,000 | 6,400,000 | ' |
Restricted common stock shares issued | ' | ' | ' | 30,000 |
2007 Equity Incentive Plan [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Expiration period | '7 years | ' | ' | '7 years |
Continuing Operations [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Equity based compensation expense | 11,000,000 | 5,100,000 | 7,000,000 | ' |
Discontinued Operations [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Equity based compensation expense | ' | 200,000 | ' | ' |
Selling, General and Administrative Expenses [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Equity based compensation expense | 7,300,000 | 3,100,000 | 3,000,000 | ' |
Research and Development Expense [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Equity based compensation expense | 3,600,000 | 2,000,000 | 4,000,000 | ' |
Cost of Revenue [Member] | ' | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' | ' |
Equity based compensation expense | $100,000 | ' | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current | ' | ' | ' |
Federal | $0 | $0 | $0 |
State | 0 | 0 | 0 |
Foreign | -1,073 | -332 | -391 |
Current income tax benefit, Total | -1,073 | -332 | -391 |
Deferred | ' | ' | ' |
Federal | -1,161 | 8,191 | 18,043 |
State | -104 | 1,038 | 1,220 |
Foreign | 666 | 729 | 486 |
Income tax benefit, Total | -599 | 9,958 | 19,749 |
Total, net | ($1,672) | $9,626 | $19,358 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred income tax assets: | ' | ' |
Federal net operating loss | $43,869 | $50,174 |
State net operating loss | 6,987 | 6,774 |
Foreign net operating loss | 20,545 | 3,427 |
Capitalized research and development expense | 4,746 | 2,162 |
Research and development tax credit | 4,876 | 4,204 |
Stock options | 13,981 | 6,326 |
Equity investments | 4,756 | 1,234 |
Accruals | 1,936 | 1,556 |
Other | 2,904 | 2,860 |
Deferred income tax assets | 104,600 | 78,717 |
Deferred income tax liabilities: | ' | ' |
Intangible assets | -179,414 | -25,738 |
Other | -4,996 | -3,277 |
Deferred income tax liabilities | -184,410 | -29,015 |
Net deferred income tax assets | -79,810 | 49,702 |
Valuation allowance | -85,370 | -59,145 |
Net deferred income tax liabilities | ($165,180) | ($9,443) |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of gross unrecognized income tax benefits | ' | ' | ' |
Unrecognized tax benefits at beginning of period | $9,245 | $5,250 | $5,413 |
Gross increases - tax positions in prior period | 575 | 4,467 | 257 |
Gross decreases - tax positions in prior period | -589 | -472 | -420 |
Unrecognized tax benefits at end of period | $9,231 | $9,245 | $5,250 |
Income_Taxes_Details_3
Income Taxes (Details 3) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Summary of difference between the federal statutory tax rate and the effective tax rate | ' | ' | ' |
Federal statutory rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | 2.40% | 3.10% | 3.60% |
Foreign income tax | -7.90% | -0.90% | -1.90% |
Research and development tax credits | 1.00% | -0.30% | 0.20% |
Original issue discount | 0.00% | 0.00% | 0.10% |
Non-Deductible components of convertible debt | -16.70% | 0.00% | 0.00% |
Other items including valuation allowance adjustments and permanent items | -11.40% | -11.40% | 35.90% |
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | -3.90% | -0.70% | 2.00% |
Total | -1.50% | 24.80% | 74.90% |
Income_Taxes_Details_4
Income Taxes (Details 4) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of losses from continuing operations before income taxes between U.S. and foreign jurisdictions | ' | ' | ' |
U.S. | ($74,861) | ($34,058) | ($24,089) |
Foreign | -37,874 | -4,725 | -1,733 |
Loss from continuing operations before income taxes and investment losses | ($112,735) | ($38,783) | ($25,822) |
Income_Taxes_Details_5
Income Taxes (Details 5) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Schedule of Long Lived Assets as Per Income Tax Jurisdiction [Line Items] | ' | ' | ||
Property, Plant, Equipment and Investment Property, Net | $17,027 | [1] | $16,526 | [1] |
U.S. [Member] | ' | ' | ||
Schedule of Long Lived Assets as Per Income Tax Jurisdiction [Line Items] | ' | ' | ||
Property, Plant, Equipment and Investment Property, Net | 4,582 | 4,324 | ||
Foreign [Member] | ' | ' | ||
Schedule of Long Lived Assets as Per Income Tax Jurisdiction [Line Items] | ' | ' | ||
Property, Plant, Equipment and Investment Property, Net | $12,445 | $12,202 | ||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost, Unrecognized | $11,800,000 | ' | ' | ' |
Income Taxes (Textual) [Abstract] | ' | ' | ' | ' |
Federal net operating loss carryforwards, utilized | 39,700,000 | ' | ' | ' |
Accrued interest and penalties on unrecognized tax benefits | 500,000 | ' | ' | ' |
Increase in unrecognized tax benefit | 100,000 | ' | ' | ' |
Approximate unrecognized tax benefits | 200,000 | 200,000 | ' | ' |
Effective income tax rate | 300,000 | ' | ' | ' |
Total gross unrecognized tax benefit | 9,231,000 | 9,245,000 | 5,250,000 | 5,413,000 |
Minimum [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Expiration Period | '15 years | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Expiration Period | '20 years | ' | ' | ' |
Research and Development Tax Credit Carryforwards [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Research and development tax credit carryforwards | 4,900,000 | ' | ' | ' |
Federal [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Operating loss carryforwards | 223,800,000 | ' | ' | ' |
State [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Operating loss carryforwards | 200,200,000 | ' | ' | ' |
Foreign [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Operating loss carryforwards | 76,800,000 | ' | ' | ' |
Foreign [Member] | PROLOR [Member] | ' | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' | ' |
Operating loss carryforwards | $54,600,000 | ' | ' | ' |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of supplemental cash flow information | ' | ' | ' |
Interest paid | $3,407 | $945 | $726 |
Income taxes paid, net | 1,321 | 575 | 338 |
Shares issued upon the conversion of: | ' | ' | ' |
Series D Preferred Stock | 24,386 | 0 | 1,742 |
3.00% convertible senior notes | ' | 0 | 0 |
Common Stock warrants, net exercised | 815 | 7 | 1,155 |
PROLOR [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 586,643 | 0 | 0 |
OPKO Diagnostics [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 0 | 0 | 22,452 |
FineTech [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 0 | 0 | 17,717 |
Farmadiet [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 4,435 | 805 | 0 |
OURLab [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 0 | 32,888 | 0 |
OPKO Brazil [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 435 | 0 | 0 |
Cytochroma [Member] | ' | ' | ' |
Issuance of capital stock to acquire: | ' | ' | ' |
Issuance of common stock | 146,902 | 0 | 0 |
Rxi Pharmaceuticals Corporation [Member] | ' | ' | ' |
Summary of supplemental cash flow information | ' | ' | ' |
Revenue related to sale of intellectual property | $12,500 | $0 | $0 |
Related_Party_Transactions_Tex
Related Party Transactions - Textual (Details) (USD $) | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2011 | Oct. 31, 2013 | Feb. 29, 2012 | Feb. 29, 2012 | Jan. 03, 2014 | Feb. 29, 2012 | Nov. 30, 2010 | Sep. 21, 2009 | Sep. 30, 2009 | Oct. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2009 | Aug. 29, 2013 | Dec. 31, 2013 | Jan. 30, 2013 | Sep. 21, 2011 | Aug. 31, 2011 | Sep. 21, 2011 | Oct. 31, 2013 | Aug. 29, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 21, 2011 | Aug. 31, 2011 | Sep. 21, 2011 | Aug. 29, 2013 | Dec. 31, 2013 | Oct. 31, 2013 | 2-May-13 | Oct. 31, 2013 | Oct. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2012 | Dec. 31, 2013 | Jun. 30, 2009 | Dec. 31, 2013 | Aug. 31, 2011 | Sep. 21, 2011 | Aug. 29, 2013 | Feb. 29, 2012 | Jan. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 29, 2012 | Feb. 29, 2012 | Dec. 31, 2012 | Apr. 30, 2012 | Feb. 29, 2012 | Nov. 30, 2010 | Oct. 31, 2013 | Oct. 31, 2013 | Sep. 21, 2011 | 16-May-11 | Sep. 21, 2011 | Sep. 21, 2011 | Nov. 30, 2010 | Jun. 30, 2010 | Sep. 30, 2009 | Aug. 31, 2012 | Nov. 30, 2007 | Oct. 31, 2013 | Oct. 31, 2013 | Feb. 29, 2012 | Jan. 16, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 03, 2014 | Jan. 02, 2014 | |
Zebra [Member] | Chromadex Corporation [Member] | Biozone Pharmaceuticals Inc [Member] | BZNE [Member] | BZNE [Member] | Fabrus Inc [Member] | Cocrystal [Member] | Cocrystal [Member] | Series A Preferred Stock [Member] | Common Stock [Member] | Convertible Preferred Stock [Member] | Notes [Member] | Notes [Member] | Notes [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr Frost [Member] | Dr. Hsiao [Member] | Dr. Hsiao [Member] | Dr. Hsiao [Member] | Dr. Hsiao [Member] | Dr. Hsiao [Member] | Dr. Hsiao [Member] | Dr. Hsiao [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Mr. Rubin [Member] | Mr. Rubin [Member] | Mr. Rubin [Member] | Director [Member] | Frost Gamma Investments Trust and Hsu Gamma Investment, L.P. [Member] | Avi Properties LLC [Member] | Teva [Member] | Teva [Member] | Scripps Research Institute [Member] | Gamma Trust [Member] | Gamma Trust [Member] | Gamma Trust [Member] | Hsu Gamma [Member] | Dr. Lerner [Member] | Dr. Lerner [Member] | Fabrus [Member] | Aero Pharmaceuticals Inc [Member] | Aero Pharmaceuticals Inc [Member] | Mr. Prego Novo [Member] | Mr. Prego Novo [Member] | Gamma Trust and Hsu Gamma [Member] | Academia Sinica [Member] | Frost Group, LLC [Member] | Real Estate Holdings LLC [Member] | Real Estate Holdings LLC [Member] | One Year Warrants [Member] | Five Year Warrants [Member] | Biozone Pharmaceuticals Inc [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
Zebra [Member] | BZNE [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Notes Due February 1, 2033 [Member] | Biozone Pharmaceuticals Inc [Member] | Series A Preferred Stock [Member] | PROLOR [Member] | Gifting of Shares of Restricted Common Stock [Member] | Reimbursement Of Travel Expense [Member] | Reimbursement Of Travel Expense [Member] | Biozone Pharmaceuticals Inc [Member] | PROLOR [Member] | Consulting Agreement [Member] | FTC Filings [Member] | Lab Space Agreement [Member] | ARNO [Member] | BZNE [Member] | BZNE [Member] | Sorrento [Member] | Sorrento [Member] | License Agreement Early Termination Fee [Member] | Biozone Pharmaceuticals Inc [Member] | PROLOR [Member] | Chromadex Corporation [Member] | Notes [Member] | sqft | FineTech [Member] | FineTech [Member] | Chromadex Corporation [Member] | Biozone Pharmaceuticals Inc [Member] | Biozone Pharmaceuticals Inc [Member] | Chromadex Corporation [Member] | Fabrus Inc [Member] | Series A Preferred Stock [Member] | Loans Receivable [Member] | Biozone Pharmaceuticals Inc [Member] | Biozone Pharmaceuticals Inc [Member] | Biozone Pharmaceuticals Inc [Member] | Fabrus Inc [Member] | Installment | sqft | Equity Method Investee [Member] | Equity Method Investee [Member] | Management Four [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Equity Method Investee [Member] | Real Estate Holdings LLC [Member] | |||||||||||||||||||||
Zebra [Member] | Series A Preferred Stock [Member] | sqft | Sorrento [Member] | Notes Due February 1, 2033 [Member] | Zebra [Member] | ARNO [Member] | ARNO [Member] | BZNE [Member] | BZNE [Member] | Common Stock [Member] | Series B Convertible Preferred Stock [Member] | sqft | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Zebra [Member] | MusclePharm Corporation [Member] | BZNE [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for Filing Fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beneficially owned held by members | ' | ' | ' | ' | ' | ' | 13.00% | ' | ' | ' | ' | ' | ' | ' | ' | 46.00% | 36.00% | 9.20% | ' | 5.00% | ' | ' | ' | 12.00% | 6.00% | 1.70% | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 1.00% | 5.00% | 1.00% | ' | ' | ' | ' | ' | 16.00% | ' | ' | 1.00% | ' | ' | ' | ' | ' | 23.00% | 8.20% | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' |
Debt face amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 158,100,000 | 175,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period of lease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Square feet of laboratory | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,300 | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of lease per month | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Exceeds consumer price index | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of API to TEVA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fund for research agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research agreement maturity period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Approximate funding for development of technology | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Period for development of technology | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beneficially owned held by owners | ' | ' | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Invested in common shares | ' | ' | 1,000,000 | 1,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible senior notes interest rate | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Par value | ' | ' | ' | $0.20 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants duration | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' |
Warrants to purchase common shares | ' | ' | ' | 8,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 833,333 | 833,333 | ' | 1,000,000 | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.4 | 4 | ' | 0.5 | ' | ' | ' | ' |
Investment Agreement, Requirement to Hold Rights to Board, Minimum Stock Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercise price per share | ' | ' | ' | $0.40 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue of common stock / Issue of common stock against acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,914 | 8,331,396 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loan to bzne | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | 300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, stock issued from conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | 2,396,145 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Biozone Pharmaceuticals Warrants Exercised | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Noncash or Part Noncash Divestiture, Shares Received | ' | ' | ' | ' | 1,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 | ' | ' |
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' |
Stock Conversion, Common Shares Issued upon Conversion | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 205.0830864 | ' | ' | ' |
Investment was part of financing for Fabrus | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership percentage held by director | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Due from Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction, Rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and development agreement amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Invested in common shares | ' | 2,000,000 | ' | ' | ' | ' | ' | 2,500,000 | 2,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | ' | 2,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' |
Equity Method Investment, Realized Gain (Loss) on Disposal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Related Party Transaction, Other Revenues from Transactions with Related Party | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Private Placement Financing | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,750,000 | ' | ' | ' | ' |
Equity Method Investment, Ownership Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity method investment, number of shares purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,701,723 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Previous investment by a group of investor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional investment by a group of investor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of equal installments payable for additional investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease rent per month for fifth year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Credit for tenant improvements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Period of lease agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursement paid to related party for travel | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 93,000 | 203,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursement Paid to Related Party for Travel | 170,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Investment Owned, Balance, Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | 840,000 | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 833,333 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' |
Area of Real Estate Property | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000 |
Operating Leases, Monthly Payments, Year One | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 |
Operating Leases, Monthly Payments, Year Five | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 34,000 |
Tenant Improvements, Offset Against Operating Lease in Next Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 155,200 |
Tenant Improvements, Rent Reduction, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 68,000 |
Warrants expiration period | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '5 years | ' | ' | ' | ' | ' | ' |
Contractual Obligation, Due in Next Twelve Months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual Obligation, Due in Second Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual Obligation, Due in Third Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual Obligation, Due in Fourth Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual Obligation, Due in Fifth Year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Compensation and Retirement Disclosure [Abstract] | ' | ' | ' |
Employees contribution | 50.00% | ' | ' |
Company's matching discretion on employee contributions to the Plan | 100.00% | ' | ' |
Participant's earnings contributed to the Plan | 4.00% | ' | ' |
Company's matching discretion on employee contributions to the Plan | $0.50 | $0.30 | $0.20 |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 1 Months Ended | 0 Months Ended | ||||||
In Millions, unless otherwise specified | Jul. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | 6-May-13 |
claim | Accrued Liabilities [Member] | Accrued Liabilities [Member] | Other Noncurrent Liabilities [Member] | Other Noncurrent Liabilities [Member] | Pending Litigation [Member] | |||
PROLOR Biotech, Inc. Shareholders' Litigation [Member] | ||||||||
Suit | ||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Number of putative class action suits filed | ' | ' | ' | ' | ' | ' | ' | 5 |
Number of claims included in post-payment audit | 183 | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Contingent Consideration [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent consideration | ' | $71.60 | $20.10 | $28 | $5.10 | $43.60 | $15 | ' |
Leases_Details_Textual
Leases (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Leases [Abstract] | ' | ' | ' |
Lease rent expenses | $1.90 | $1.30 | $0.70 |
Leases_Details
Leases (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Future minimum lease payments | ' |
2014 | $2,660 |
2015 | 1,841 |
2016 | 1,565 |
2017 | 951 |
2018 | 566 |
Thereafter | 0 |
Total minimum lease commitments | $7,583 |
Segments_Details_Textual
Segments (Details Textual) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Segment | |||
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of reportable segments | 2 | ' | ' |
Inter-segment allocation of income taxes | $1,672,000 | ($9,626,000) | ($19,358,000) |
Customer Concentration Risk [Member] | Total Revenue [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of customer represented | 0 | 0 | ' |
Percentage of product revenue contributed by customer | 10.00% | 10.00% | ' |
Customer Concentration Risk [Member] | Product Revenue [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of Customer Representation | ' | 1 | ' |
Percentage of Customer in Revenue | ' | 17.00% | ' |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of customer represented | 0 | 0 | ' |
Percentage of product revenue contributed by customer | 10.00% | 10.00% | ' |
Intersegment Elimination [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Inter-segment sales | 0 | ' | ' |
Inter-segment allocation of interest expense | 0 | ' | ' |
Inter-segment allocation of income taxes | $0 | ' | ' |
Pharmaceutical [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of operating segments | 2 | ' | ' |
Diagnostics [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of operating segments | 2 | ' | ' |
Segments_Details
Segments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Product revenues | ' | ' | ' | ' | ' | ' | ' | ' | $68,161 | $45,295 | $27,844 | ||||
Revenue from services | ' | ' | ' | ' | ' | ' | ' | ' | 11,658 | 1,749 | 135 | ||||
Revenue from transfer of intellectual property | ' | ' | ' | ' | ' | ' | ' | ' | 16,711 | 0 | 0 | ||||
Operating (loss) income | ' | ' | ' | ' | -1,039 | -9,646 | -10,244 | -8,611 | -79,632 | -37,269 | -23,189 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 15,216 | 10,160 | 3,830 | ||||
Gain (Loss) on Investments | ' | ' | ' | ' | ' | ' | ' | ' | -11,456 | -2,062 | -1,589 | ||||
Total revenues | 20,692 | 20,641 | 23,821 | 31,376 | 16,261 | 11,795 | 10,211 | 8,777 | 96,530 | 47,044 | 27,979 | ||||
Assets | 1,391,516 | [1] | ' | ' | ' | 289,830 | [1] | ' | ' | ' | 1,391,516 | [1] | 289,830 | [1] | ' |
Goodwill | 226,373 | [1] | ' | ' | ' | 80,450 | [1] | ' | ' | ' | 226,373 | [1] | 80,450 | [1] | 39,815 |
U.S. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 28,369 | 1,749 | 135 | ||||
Chile [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 31,650 | 26,514 | 21,466 | ||||
Spain [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 18,800 | 6,124 | 0 | ||||
Israel [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 13,252 | 7,655 | 0 | ||||
Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,459 | 5,002 | 6,378 | ||||
Corporate, Non-Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Product revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Revenue from services | ' | ' | ' | ' | ' | ' | ' | ' | 825 | 1,354 | 135 | ||||
Revenue from transfer of intellectual property | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -24,473 | -15,628 | -15,537 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 149 | 179 | 170 | ||||
Gain (Loss) on Investments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Assets | 209,539 | ' | ' | ' | 35,109 | ' | ' | ' | 209,539 | 35,109 | ' | ||||
Goodwill | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reconciling Items [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -3,151 | -585 | 0 | ||||
Pharmaceutical [Member] | Chile [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 6,102 | ' | ' | ' | 6,697 | ' | ' | ' | 6,102 | 6,697 | 5,282 | ||||
Pharmaceutical [Member] | Mexico [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Goodwill | 113 | ' | ' | ' | 114 | ' | ' | ' | 113 | 114 | 106 | ||||
Pharmaceutical [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Product revenues | ' | ' | ' | ' | ' | ' | ' | ' | 68,161 | 45,295 | 27,844 | ||||
Revenue from services | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Revenue from transfer of intellectual property | ' | ' | ' | ' | ' | ' | ' | ' | 15,160 | 0 | 0 | ||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -29,809 | -6,797 | -3,668 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 8,234 | 6,367 | 2,804 | ||||
Gain (Loss) on Investments | ' | ' | ' | ' | ' | ' | ' | ' | -11,456 | -2,062 | -1,589 | ||||
Assets | 1,065,033 | ' | ' | ' | 142,299 | ' | ' | ' | 1,065,033 | 142,299 | ' | ||||
Goodwill | 175,408 | ' | ' | ' | 32,844 | ' | ' | ' | 175,408 | 32,844 | ' | ||||
Diagnostics [Member] | Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Product revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Revenue from services | ' | ' | ' | ' | ' | ' | ' | ' | 10,833 | 395 | 0 | ||||
Revenue from transfer of intellectual property | ' | ' | ' | ' | ' | ' | ' | ' | 1,551 | 0 | 0 | ||||
Operating (loss) income | ' | ' | ' | ' | ' | ' | ' | ' | -22,199 | -14,259 | -3,984 | ||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6,833 | 3,614 | 856 | ||||
Gain (Loss) on Investments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||
Assets | 116,944 | ' | ' | ' | 112,422 | ' | ' | ' | 116,944 | 112,422 | ' | ||||
Goodwill | $50,965 | ' | ' | ' | $47,606 | ' | ' | ' | $50,965 | $47,606 | ' | ||||
[1] | As of December 31, 2013 and 2012, total assets include $6.7 million and $5.6 million, respectively, and total liabilities include $10.4 million and $5.5 million, respectively related to SciVac Ltd (“SciVacâ€), previously known as SciGen (I.L.) Ltd, a consolidated variable interest entity. SciVac’s consolidated assets are owned by SciVac and the holders of SciVac’s consolidated liabilities have no recourse against us. Refer to Note 3. |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary Of Investments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $4,301 | $5,335 |
Gross unrealized gains in Accumulated OCI | 3,739 | 6,725 |
Gross unrealized losses in Accumulated OCI | ' | 0 |
Gain/(Loss) in Accumulated Deficit | 4,022 | 88 |
Fair value | 12,062 | 12,148 |
Common Stock [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 3,376 | 2,051 |
Gross unrealized gains in Accumulated OCI | 2,698 | 6,185 |
Gross unrealized losses in Accumulated OCI | 0 | 0 |
Gain/(Loss) in Accumulated Deficit | ' | ' |
Fair value | 6,074 | 8,236 |
BZNE Note and conversion feature [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 1,700 |
Gross unrealized gains in Accumulated OCI | ' | 53 |
Gross unrealized losses in Accumulated OCI | ' | 0 |
Gain/(Loss) in Accumulated Deficit | ' | 287 |
Fair value | ' | 2,040 |
Neovasc common stock options [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 925 | 925 |
Gross unrealized gains in Accumulated OCI | 1,041 | 293 |
Gross unrealized losses in Accumulated OCI | 0 | 0 |
Gain/(Loss) in Accumulated Deficit | 4,022 | 176 |
Fair value | 5,988 | 1,394 |
Neovasc common stock warrants [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | ' | 659 |
Gross unrealized gains in Accumulated OCI | ' | 194 |
Gross unrealized losses in Accumulated OCI | ' | 0 |
Gain/(Loss) in Accumulated Deficit | ' | -375 |
Fair value | ' | $478 |
Fair_Value_Measurements_Assets
Fair Value Measurements - Assets And Liabilities Measured At Fair Value (Details) (Fair Value, Measurements, Recurring [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | $174,492 | $26,952 |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 13,015 | 2,692 |
Liabilities: | ' | ' |
Total liabilities | 0 | 10 |
Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 2,040 |
Liabilities: | ' | ' |
Total liabilities | 178,160 | 30,159 |
Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 187,507 | 31,684 |
Liabilities: | ' | ' |
Total liabilities | 178,160 | 30,169 |
Forward contracts [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Forward contracts [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 49 | 10 |
Forward contracts [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Forward contracts [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 49 | 10 |
Embedded conversion option [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | ' |
Embedded conversion option [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | ' |
Embedded conversion option [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 101,087 | ' |
Embedded conversion option [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 101,087 | ' |
Deferred acquisition payments, net of discount [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Deferred acquisition payments, net of discount [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Deferred acquisition payments, net of discount [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 5,465 | 10,103 |
Deferred acquisition payments, net of discount [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 5,465 | 10,103 |
Contingent consideration [Member] | CURNA [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | CURNA [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | CURNA [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 573 | 510 |
Contingent consideration [Member] | CURNA [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 573 | 510 |
Contingent consideration [Member] | Opko Diagnostics [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | Opko Diagnostics [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | Opko Diagnostics [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 13,776 | 12,974 |
Contingent consideration [Member] | Opko Diagnostics [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 13,776 | 12,974 |
Contingent consideration [Member] | FineTech [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | FineTech [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | FineTech [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 3,124 | 5,262 |
Contingent consideration [Member] | FineTech [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 3,124 | 5,262 |
Contingent consideration [Member] | Cytochroma [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | ' |
Contingent consideration [Member] | Cytochroma [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | ' |
Contingent consideration [Member] | Cytochroma [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 53,092 | ' |
Contingent consideration [Member] | Cytochroma [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 53,092 | ' |
Contingent consideration [Member] | Farmadiet [Member] | Level 1 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | Farmadiet [Member] | Level 2 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Contingent consideration [Member] | Farmadiet [Member] | Level 3 [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 1,043 | 1,310 |
Contingent consideration [Member] | Farmadiet [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 1,043 | 1,310 |
Money market funds [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 168,418 | 18,716 |
Money market funds [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Money market funds [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Money market funds [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 168,418 | 18,716 |
Certificates of Deposit [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Certificates of Deposit [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 827 | 820 |
Certificates of Deposit [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Certificates of Deposit [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 827 | 820 |
Notes Receivable [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | ' |
Notes Receivable [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | ' |
Notes Receivable [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 6,151 | ' |
Notes Receivable [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 6,151 | ' |
Common Stock [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 6,074 | 8,236 |
Common Stock [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Common Stock [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Common Stock [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 6,074 | 8,236 |
BZNE Note and conversion feature [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
BZNE Note and conversion feature [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 5,988 | 0 |
BZNE Note and conversion feature [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 2,040 |
BZNE Note and conversion feature [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 5,988 | 2,040 |
Neovasc common stock options [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 0 |
Neovasc common stock options [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 1,394 |
Neovasc common stock options [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 0 |
Neovasc common stock options [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 1,394 |
Neovasc common stock warrants [Member] | Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 0 |
Neovasc common stock warrants [Member] | Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 478 |
Neovasc common stock warrants [Member] | Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 0 |
Neovasc common stock warrants [Member] | Estimate of Fair Value Measurement [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | $478 |
Fair_Value_Measurements_Notes_
Fair Value Measurements - Notes (Details) (Notes [Member], USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Estimate of Fair Value Measurement [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
2033 Senior Notes | $116,993 |
Level 1 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
2033 Senior Notes | ' |
Level 2 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
2033 Senior Notes | ' |
Level 3 [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
2033 Senior Notes | 116,993 |
Carrying Value [Member] | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' |
2033 Senior Notes | $110,825 |
Fair_Value_Measurements_Level_
Fair Value Measurements - Level 3 Reconciliation (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Contingent consideration [Member] | ' | ' |
Total losses (gains) for the period: | ' | ' |
Included in results of operations, assets | $6,947 | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Beginning Balance, liabilities | 20,056 | 18,002 |
Additions, liabilities | 47,710 | 1,234 |
Total losses (gains) for the period: | ' | ' |
Included in results of operations, liabilities | ' | 820 |
Foreign currency impact | 31 | ' |
Payments/conversions, liabilities | -3,124 | ' |
Ending Balance, liabilities | 71,620 | 20,056 |
Deferred acquisition payments, net of discount [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Beginning Balance, liabilities | 10,103 | 0 |
Additions, liabilities | ' | 9,673 |
Total losses (gains) for the period: | ' | ' |
Included in results of operations, liabilities | 829 | 430 |
Payments/conversions, liabilities | -5,448 | ' |
Ending Balance, liabilities | 5,484 | 10,103 |
Embedded conversion option [Member] | ' | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Beginning Balance, liabilities | 0 | ' |
Additions, liabilities | 59,204 | ' |
Total losses (gains) for the period: | ' | ' |
Included in results of operations, liabilities | 43,082 | ' |
Payments/conversions, liabilities | -1,199 | ' |
Ending Balance, liabilities | 101,087 | ' |
BZNE Note and conversion feature [Member] | ' | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' |
Beginning Balance, assets | 2,040 | 0 |
Additions, assets | ' | 1,700 |
Total losses (gains) for the period: | ' | ' |
Included in results of operations, assets | ' | 1,563 |
Included in Other comprehensive loss, assets | ' | 53 |
Transfer out to equity method investment, assets | ' | -1,276 |
Conversion of the 2033 Senior Notes | 2,040 | ' |
Ending Balance, assets | $0 | $2,040 |
Fair_Value_Measurements_Textua
Fair Value Measurements - Textual (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Percentage Of Increase Decrease In Discount Rate | 1.00% | ' |
Change in contingent consideration on discount rates increase | $1.70 | ' |
Percentage Of Increase Decrease In Future Sales | 10.00% | ' |
Decrease of estimated future sales in amount | 0.7 | ' |
Contingent consideration | 71.6 | 20.1 |
Accrued Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Contingent consideration | 28 | 5.1 |
Other Noncurrent Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Contingent consideration | $43.60 | $15 |
Minimum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount rates related to consideration | 6.00% | ' |
Maximum [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Discount rates related to consideration | 27.00% | ' |
Derivative_Contracts_Details
Derivative Contracts (Details) (USD $) | Dec. 31, 2013 | Jan. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | |||||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Convertible senior notes interest rate | 3.00% | ' | ' | ||
Notes [Member] | Notes Due February 1, 2033 [Member] | ' | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Convertible senior notes interest rate | 3.00% | 3.00% | 3.00% | ||
Not Designated as Hedging Instrument [Member] | Pharmsynthez Notes Receivable and Purchase Option [Member] | Prepaid expenses and other current assets [Member] | ' | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Derivative asset, fair value | 6,151 | ' | 0 | ||
Not Designated as Hedging Instrument [Member] | Neovasc common stock options/warrants [Member] | Investments [Member] | ' | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Derivative asset, fair value | 5,988 | ' | 1,872 | ||
Not Designated as Hedging Instrument [Member] | Embedded conversion option [Member] | 3.00% convertible, senior notes, net of discount and estimated fair value of embedded derivatives [Member] | ' | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Derivative liability, fair value | 101,087 | ' | 0 | ||
Not Designated as Hedging Instrument [Member] | Forward contracts [Member] | ' | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Derivative liability, fair value | 1,585 | ' | 1,294 | ||
Not Designated as Hedging Instrument [Member] | Forward contracts [Member] | Current portion of lines of credit and notes payable [Member] | ' | ' | ' | ||
Derivatives, Fair Value [Line Items] | ' | ' | ' | ||
Derivative liability, fair value | 1,585 | [1] | ' | 1,294 | [1] |
[1] | The loss on forward contracts is recorded in Accrued expenses. The gain on the forward contracts is recorded in Prepaid expenses and other current assets. |
Derivative_Contracts_Details_1
Derivative Contracts (Details 1) (Not Designated as Hedging Instrument [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Total | ($36,489) | $1,340 | ($39) |
Pharmsynthez Notes Receivable and Purchase Option [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Total | 1,936 | 0 | 0 |
Neovasc common stock options/warrants and BZNE Note conversion feature [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Total | 4,608 | 1,350 | -77 |
Notes [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Total | -43,082 | ' | ' |
Forward contracts [Member] | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' |
Total | $49 | ($10) | $38 |
Derivative_Contracts_Details_2
Derivative Contracts (Details 2) (Not Designated as Hedging Instrument [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Derivative [Line Items] | ' | ' | ' |
Derivative, Gain (Loss) on Derivative, Net | ($36,489) | $1,340 | ($39) |
Forward Contracts [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 1,537 | 1,304 | ' |
Fair value | 1,585 | 1,294 | ' |
Derivative, Gain (Loss) on Derivative, Net | 49 | -10 | 38 |
Forward Contracts [Member] | 0 to 30 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 472 | ' | ' |
Fair value | 489 | ' | ' |
Derivative, Gain (Loss) on Derivative, Net | 17 | 0 | ' |
Contract days until maturity, lower range | '0 days | '0 days | ' |
Contract days until maturity, higher range | '30 days | '30 days | ' |
Forward Contracts [Member] | 31 to 60 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 562 | 581 | ' |
Fair value | 579 | 577 | ' |
Derivative, Gain (Loss) on Derivative, Net | 18 | -4 | ' |
Contract days until maturity, lower range | '31 days | '31 days | ' |
Contract days until maturity, higher range | '60 days | '60 days | ' |
Forward Contracts [Member] | 61 to 90 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 503 | 341 | ' |
Fair value | 517 | 339 | ' |
Derivative, Gain (Loss) on Derivative, Net | 14 | -2 | ' |
Contract days until maturity, lower range | '61 days | '61 days | ' |
Contract days until maturity, higher range | '90 days | '90 days | ' |
Forward Contracts [Member] | 91 to 120 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 0 | 212 | ' |
Fair value | 0 | 210 | ' |
Derivative, Gain (Loss) on Derivative, Net | 0 | -2 | ' |
Contract days until maturity, lower range | '91 days | '91 days | ' |
Contract days until maturity, higher range | '120 days | '120 days | ' |
Forward Contracts [Member] | 121 to 180 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 0 | 170 | ' |
Fair value | 0 | 168 | ' |
Derivative, Gain (Loss) on Derivative, Net | 0 | -2 | ' |
Contract days until maturity, lower range | '121 days | '121 days | ' |
Contract days until maturity, higher range | '180 days | '180 days | ' |
Forward Contracts [Member] | More than 180 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Contract value | 0 | 0 | ' |
Fair value | 0 | ' | ' |
Derivative, Gain (Loss) on Derivative, Net | $0 | $0 | ' |
Contract days until maturity, higher range | '180 days | '180 days | ' |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of quarterly financial data | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $20,692 | $20,641 | $23,821 | $31,376 | $16,261 | $11,795 | $10,211 | $8,777 | $96,530 | $47,044 | $27,979 |
Gross margin, excluding amortization of intangible assets | 56,558 | 39,650 | 41,805 | 38,149 | 25,974 | 21,163 | 19,552 | 17,624 | ' | ' | ' |
Net loss | -17,429 | -60,801 | -4,353 | -34,763 | ' | ' | ' | ' | -117,346 | -29,540 | -1,283 |
(Loss) income from continuing operations | ' | ' | ' | ' | -1,039 | -9,646 | -10,244 | -8,611 | -79,632 | -37,269 | -23,189 |
Net (loss) income attributable to common shareholders | ($16,800) | ($59,998) | ($3,394) | ($34,635) | ($1,106) | ($10,206) | ($10,805) | ($9,171) | ($114,827) | ($31,288) | ($3,662) |
(Loss) income per share, basic and diluted: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss from continuing operations | ' | ' | ' | ' | $0 | ($0.03) | ($0.04) | ($0.03) | ($0.32) | ($0.11) | ($0.03) |
Income (loss) from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0.02 |
Net loss operations | ($0.04) | ($0.16) | ($0.01) | ($0.11) | ' | ' | ' | ' | ($0.32) | ($0.11) | ($0.01) |