Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 6 : Goodwill and Intangible Assets

The Company's amortizable and unamortizable intangible assets at December 31, 2015 and 2014 are as follows:

	2015						2014
	Gross		Accumulated		Net Book		Gross		Accumulated		Net Book
	Value		Amortization		Value		Value		Amortization		Value
Amortizable intangible assets:
Acquired IPR&D - Bloxiverz	$	35,248	$	(23,498)	$	11,750	$	35,248	$	(11,749)	$	23,499
Acquired IPR&D - Vazculep		12,061		(7,986)		4,075		12,061		(7,171)		4,890
Total amortizable intangible assets	$	47,309	$	(31,484)	$	15,825	$	47,309	$	(18,920)	$	28,389

Unamortizable intangible assets:
Goodwill		19,035		(544)		18,491		19,035		(544)		18,491
Total unamortizable intangible assets	$	19,035	$	(544)	$	18,491	$	19,035	$	(544)	$	18,491

The Company recorded amortization expense related to amortizable intangible assets of $12,564, $11,749 and $0 for the years ended December 31, 2015, 2014 and 2013, respectively. Accumulated amortization in the above tables includes an impairment charge of $7,171 which was recognized during the year ended December 31, 2012 relative to the Acquired IPR&D – Vazculep intangible asset.

Amortizable intangible assets are amortized over their estimated useful lives, which range from three to six years, using the straight-line method. Total future amortization of intangible assets for the next five years is as follows:

	Estimated
	Amortization
Years ending December 31,	Expense
2016	$	12,565
2017		815
2018		815
2019		815
2020		815
Total	$	15,825

During the years ended December 31, 2015 and 2014, the Company did not acquire any intangible assets or goodwill.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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