Subsequent Events |
12 Months Ended |
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Dec. 31, 2017 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
Subsequent Events
On February 12, 2018, the Company closed an acquisition with Avadel U.S. Holdings, Inc., and certain of its subsidiaries (“Avadel”), to purchase and acquire all rights to Avadel's marketed pediatric products. The acquired products consist of Karbinal™ ER, AcipHex® Sprinkle™, Cefaclor for Oral Suspension, and Flexichamber™. Additionally, Avadel Ireland will develop and provide the Company with four stable product formulations of the Company's choosing utilizing its proprietary LiquiTime™ and Micropump® technology. Under the terms of the asset purchase agreement, the Company purchased Avadel’s interest in the Avadel pediatric assets for nominal cash payment and assumed certain of Avadel’s financial obligations to Deerfield CSF, LLC, which include a $15 million loan due in January 2021 and certain royalty obligations through February 2026. Trailing twelve-month net sales for the acquired products were approximately $8 million.
Management is in the process of verifying data related to the Avadel transaction including the valuation and recording of identifiable assets, intangible assets, liabilities assumed and the resulting effects on the value of goodwill, if any.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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