SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2013

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 16. SUBSEQUENT EVENTS

        On March 12, 2014, the FDA approved Mallinckrodt's NDA for XARTEMIS™ XR (oxycodone hydrochloride and acetaminophen) Extended-Release Tablets (CII). The approval of the NDA triggers a $10.0 million milestone payment to the Company under its license agreement with Mallinckrodt, which is payable within 30 days. The Company will recognize the entire milestone payment in the first quarter of 2014. The Company will also receive high single digit royalties on net sales of XARTEMIS XR.