SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2012

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

9. SUBSEQUENT EVENTS

We have evaluated subsequent events for recognition or disclosure through the time of filing these consolidated financial statements on Form 10-Q with the U.S. Securities and Exchange Commission on November 9, 2012.

On November 7, 2012, Auxilium announced that it has submitted a supplemental Biologics License Application ("sBLA") to the U.S. Food and Drug Administration ("FDA") for XIAFLEX for the potential treatment of Peyronie's disease. Auxilium has requested Priority Review designation for the sBLA and expects to hear back from the FDA regarding that designation within approximately 60 days from the filing date. Under Prescription Drug User Fee Act guidelines, if Priority Review designation is granted for the submission, the FDA's goal for completing the Priority Review is six months from the date of receipt.

Also on November 7, 2012, Auxilium and Pfizer announced that they have amended their collaboration agreement for the development, commercialization and supply of XIAPEX for the treatment of Dupuytren's contracture and the potential treatment of Peyronie's disease in the European Union and certain other European and Eurasian countries to include a mutual termination date of April 24, 2013.  After the termination date, rights to commercialize XIAPEX and responsibility for regulatory activities for XIAPEX in these countries will revert to Auxilium.