Company: SUPN
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001356576-25-000033
Chunk: 62

Company: SUPERNUS PHARMACEUTICALS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 62
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 15,989 (3,188)(20)%Oxtellar XR10,198 26,943 (16,745)(62)%Other(1)8,579 7,214 1,365 19%Total net product sales141,988 138,461 3,527 3%Royalty, licensing and other revenues7,836 5,183 2,653 51%Total revenues$149,824 $143,644 $6,180 4%___________________________________________

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

Net Product Sales

Net product sales were $142.0 million and $138.5 million for the three months ended March 31, 2025 and 2024, respectively. The increase was primarily due to increases in net product sales from Qelbree and GOCOVRI due to higher volume and higher price partially offset by the decline in net product sales of Oxtellar XR and Trokendi XR due to generic erosion.

Adjustments related to prior year sales for the three months period ended March 31, 2025 is less than 5% of net product sales. The majority of the adjustments is attributable to Qelbree, reflecting favorable actual returns experienced in 2025. As a result, the Company changed its estimated provision for product returns based on the most recent experience. Adjustments related to prior year sales for the three months period ended March 31, 2024 was less than 1% of net product sales.  Refer to discussion Sales Deductions and Related Accruals below. 

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 condensed consolidated balance sheets. We record sales discounts as a reduction against Accounts receivable, net on the unaudited condensed 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 activity with respect to accrued product returns and rebates during the periods indicated (dollars in thousands): Accrued Product Returns and RebatesProductReturnsProductRebatesSales DiscountsTotalBalance at December 31, 2024$53,375 $115,330 $12,347 $181,052