Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 322

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1A
Chunk 322
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's future outlook of the brands.

Results of Operations

In this section, we discuss the results of our operations for the year ended December 31, 2024, compared to the year ended December 31, 2023. Our Annual Report on Form 10-K for the year ended December 31, 2023, includes a discussion and analysis of our financial condition and results of operations for the year ended December 31, 2022, in Part II, Item 7—Management's Discussion and Analysis of Financial Condition and Results of Operations.

Revenues 

Revenues consist primarily of net product sales of our commercial products in the U.S., supplemented by royalty and licensing revenues from our collaborative licensing arrangements. The following table provides information regarding our revenues during the years ended December 31, 2024 and 2023 (dollars in thousands):   Year Ended December 31,Change 20242023AmountPercentNet product salesQelbree$241,273 $140,192 $101,081 72 %GOCOVRI130,824 119,637 11,187 9 %Oxtellar XR99,464 113,404 (13,940)(12)%APOKYN73,926 75,083 (1,157)(2)%Trokendi XR63,201 94,336 (31,135)(33)%Other(1)29,008 31,281 (2,273)(7)%Total net product sales$637,696 $573,933 $63,763 11 %Royalty, licensing and other revenues24,121 33,588 (9,467)(28)%Total revenues$661,817 $607,521 $54,296 9 %______________________________

(1)   Includes net product sales of MYOBLOC, XADAGO and Osmolex ER.

Net Product Sales

Net product sales increased by $63.8 million from $573.9 million in 2023 to $637.7 million in 2024. The increase was primarily due to increases in net product sales from Qelbree and GOCOVRI partially offset by the decline in net product sales of Trokendi XR and Oxtellar XR due to generic erosion.

Sales Deductions and Related Accruals 

We record accrued product returns and accrued product rebates as current liabilities in Accrued product returns and rebates,