Accrued Expenses

6 Months Ended

Jun. 30, 2021

Accrued Expenses

Accrued Expenses

7)    Accrued Expenses

Accrued expenses are comprised of the following:

	June 30, 2021		December 31, 2020
Accrued price protection	$	1,853,979	$	1,853,979
Accrued product returns		8,107,386		9,452,248
Accrued contract rebates		506,229		412,046
Due to Vivus (see Note 14)		2,267,523		2,267,523
Due to third-party logistic provider		532,321		—
Accrued severance		75,436		519,609
Accrued professional fees		23,479		—
Other accrued expenses		398,504		178,381
Total accrued expenses	$	13,764,857	$	14,683,786

As part of its acquisition of Stendra®, the Company provides the previous owner with price protection for certain Stendra® product returns that are processed by the previous owner in accordance with the Company's returned goods policy. Some customer agreements require that product returns be credited at the current wholesale acquisition cost (“WAC”). If the Company subsequently raises the WAC, the Company will reimburse the previous owner for the difference between the current WAC and the original sale price for returns processed by the previous owner.