Company: SUPN
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001356576-25-000017
Chunk: 135

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 135
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rokendi 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, on our consolidated balance sheets. We record sales discounts as a reduction against Accounts receivable, net on the consolidated balance sheets. Both amounts are generally affected by changes in gross product sales, changes in the provision for net product sales deductions, and the timing of payments/credits.

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The following table provides a summary of activities with respect to accrued product returns and rebates for the years ended December 31, 2024 and 2023 (dollars in thousands):Accrued Product Returns and RebatesProductReturnsProductRebatesSales DiscountsTotalBalance at December 31, 2023$57,290 $96,984 $10,719 $164,993 ProvisionProvision for current year sales17,677 389,842 69,589 477,108 Adjustments relating to prior year sales(11,943)(2,049)(42)(14,034)Total provision5,734 387,793 69,547 463,074 Less: Actual payments/credits(9,649)(369,447)(67,919)(447,015)Balance at December 31, 2024$53,375 $115,330 $12,347 $181,052 Balance at December 31, 2022$45,008