Annual report pursuant to Section 13 and 15(d)

Segments

v2.4.0.6
Segments
12 Months Ended
Dec. 31, 2012
Segments [Abstract]  
Segments

Note 17 Segments

We currently manage our operations in two reportable segments, pharmaceutical and diagnostics. The pharmaceutical 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, and Spain. The diagnostics segment consists of two operating segments, our (i) pathology operations we acquired in Tennessee through the acquisition of OURLab and (ii) point-of-care and molecular diagnostics operations. Refer to Note 1. 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)   2012     2011     2010  

Product revenues:

                       

Pharmaceutical

  $ 45,295     $ 27,844     $ 21,763  

Diagnostics

    —         —         —    

Corporate

    —         —         —    
   

 

 

   

 

 

   

 

 

 
    $ 45,295     $ 27,844     $ 21,763  
   

 

 

   

 

 

   

 

 

 

Revenue from services and license revenues:

                       

Pharmaceutical

  $ —       $ —       $ —    

Diagnostics

    395       —         —    

Corporate

    1,354       135       6,731  
   

 

 

   

 

 

   

 

 

 
    $ 1,749     $ 135     $ 6,731  
   

 

 

   

 

 

   

 

 

 

Operating loss from continuing operations:

                       

Pharmaceutical

  $ (6,797   $ (3,668   $ (3,257

Diagnostics

    (14,259     (3,984     (695

Corporate

    (15,628     (15,537     (7,184

Less: Operating loss from noncontrolling interests

    (585     —         —    
   

 

 

   

 

 

   

 

 

 
    $ (37,269   $ (23,189   $ (11,136
   

 

 

   

 

 

   

 

 

 

Depreciation and amortization:

                       

Pharmaceutical

  $ 6,367     $ 2,804     $ 2,092  

Diagnostics

    3,614       856       —    

Corporate

    179       170       115  
   

 

 

   

 

 

   

 

 

 
    $ 10,160     $ 3,830     $ 2,207  
   

 

 

   

 

 

   

 

 

 

Net loss from investments in investees:

                       

Pharmaceutical

  $ (2,062   $ (1,589   $ (714

Diagnostics

    —         —         —    

Corporate

    —         —         —    
   

 

 

   

 

 

   

 

 

 
    $ (2,062   $ (1,589   $ (714
   

 

 

   

 

 

   

 

 

 

Revenues:

                       

United States

  $ 1,749     $ 135     $ 6,731  

Chile

    26,514       21,466       17,977  

Mexico

    5,002       6,378       3,786  

Israel

    7,655       —         —    

Spain

    6,124       —         —    
   

 

 

   

 

 

   

 

 

 
    $ 47,044     $ 27,979     $ 28,494  
   

 

 

   

 

 

   

 

 

 

 

                 
    As of December 31,  
    2012     2011  

Assets:

               

Pharmaceutical

  $ 142,299     $ 90,409  

Diagnostics

    112,422       63,317  

Corporate

    35,109       75,759  

Discontinued operations

    —         4  
   

 

 

   

 

 

 
    $ 289,830     $ 229,489  
   

 

 

   

 

 

 

Goodwill:

               

Pharmaceutical

  $ 32,844     $ 21,838  

Diagnostics

    47,606       17,977  

Corporate

    —         —    

Discontinued operations

    —         —    
   

 

 

   

 

 

 
    $ 80,450     $ 39,815  
   

 

 

   

 

 

 

 

During the year ended December 31, 2012, no customers represented more than 10% of our product revenues. During the year ended December 31, 2011, one customer represented 17% of our product revenues. During the year ended December 31, 2010, one customer represented 13% of our revenues. As of December 31, 2012, no customer represented more than 10% of our account receivables balance. As of December 31, 2011, one customer represented 29% of our accounts receivable balance.