Related Party Transactions

6 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

(11) Related Party Transactions

The table below presents the transactions between the Company and Actavis:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Revenues
Net product revenues	$	—	$	1,922,782	$	—	$	2,163,183
Royalties		836,913		727,558		1,636,913		1,327,558
Total net revenues	$	836,913	$	2,650,340	$	1,636,913	$	3,490,741
Cost of product revenues
Cost of product revenues		—		1,747,809		—		1,966,333
Gross profit	$	836,913	$	902,531	$	1,636,913	$	1,524,408

As of June 30, 2013 and December 31, 2012, amounts due from related party for these sales were approximately $0.8 million and $2.2 million, respectively. There were no amounts due to Actavis as of June 30, 2013 and December 31, 2012.

In the three and six months ended June 30, 2012, Actavis reimbursed Columbia $3,100 and $0.4 million, respectively, for research and development expenses pursuant to the purchase agreement. There are no further expenses to be reimbursed by Actavis related to research and development.