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And finally, we experienced negative product mix as a result of declines in high-margin products, such as Ephedrine and Nembutal and increases in lower-margin products such as Myorisan. The decline in gross margin rate was primarily driven by the following: first, we had unfavorable manufacturing variances as a result of the decreased production due to the extended planned shutdowns and resulting production ramp-ups at our Decatur and Somerset facilities; second, our manufacturing cost increased as a result of our FDA compliance-related improvement activities; and finally, we experienced unfavorable product mix as a result of declines in high-margin products such as Ephedrine and Nembutal and increases in lower-margin products such as Myorisan, as well as the previously mentioned unfavorable price experienced during the year. For 2018, cash flow from operations was a use of $69 million compared to a source of $248 million for 2017. As of December 31, 2018, long-term debt outstanding was $820 million, net of deferred financing cost. Net revenue for the quarter ended December 31, 2018, was $153 million, a decrease of 17.6% from the prior year quarter. Gross margin rate for the fourth quarter was 16.5% compared to 44.6% for the prior year quarter. ​This c᠎onte​nt was　 done with GSA C ontent G enerator  DEMO.

In the fourth quarter of 2017, we recorded $112 million of intangible asset impairment. Both the 2018 and 2017 impairment expenses are included in our non-GAAP reconciliation table. So we know our journey on quality compliance, remediation is a long one, but we’re very much well along the way and our facilities are all operating at full utilization. From a remediation perspective, as I mentioned, it gets a little bit confusing when you talk cash versus expense. From an industry perspective, increased competition has had a significant impact on many of our products. As we continue to turn this business around, we’ll be guided by a culture of compliance, driven by a commitment to providing our patients with affordable and high-quality products and supported by the strength and resiliency of our team. In other words, how much of that comes from other facilities that the FDA can approve products from and/or customers or partners such as Restasis? Decatur is pretty much there, although they’re going through the remediation of all the FDA commitments that we have.

Chemists have created synthetic flavourings that attempt to duplicate the natural ones, but in most cases these are much simpler and not as full-bodied. ibogaine plant are incorporating mental health goals into their chronic disease prevention efforts. Public health organizations looking to address senior mental health issues such as schizoaffective disorder will typically work to connect seniors with counseling services, including teletherapy (virtual counseling), and psychiatrists who can prescribe helpful medications. After careful consideration, we’ve decided to explore strategic alternatives to exit our facility in India, as we work to improve our operations and simplify our global manufacturing network. So again, with the QSCAP and the activity on place, I believe we are well on our way, but we still have significant work to do to complete the activities and also to maintain sustainable compliance throughout the tenure for the business. For your reference, we are providing a copy of the Form 483 as part of today’s 8-K filing. And part two is, have you interacted with customers yet?

And if you have an update on that one as well, that would be great. That is part one. This was done as part of my emphasis on information sharing, transparency and accountability. We never disclose client information to anybody and neither do we make our clients a subject of discussion. The barbiturates and their sodium salts are subject to control under the Federal Controlled Substances Act. On a 12-month basis, our net debt-to-adjusted-EBITDA ratio was approximately 12.3 times at December 31, 2018. At this time, we are not providing earnings guidance. Note that the $55 million includes approximately $15 million that was expensed in 2018, but wasn’t paid as of December 31, 2018. Finally, during the course of our 2018 year-end close, we identified a material weakness in the internal controls surrounding the process in which we evaluate and record stock compensation expense. And ibogaineclinic.com ‘ll come back to you in due course with kind of our outlook and the plans that we’ll put in place and the actions that it’ll take to execute those plans. However, we expect profitability and margins to improve over the course of the year as our near-term initiatives gain traction. For 2019, the priorities for the Akorn team are to execute our operations, quality systems and compliance enhancement initiatives.  Art᠎icle was cre​at᠎ed ᠎by GSA Content Gener at᠎or Dem over sion᠎!