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Subsequent Events | 12 Months Ended
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Dec. 31, 2015
Subsequent Events |
Subsequent Events | 19. Subsequent Event s Mortgage Payable with East West Bank—Due February 2021 In January 2016, the Company refinanced the existing mortgage term loan with East West Bank, which had a principal balance outstanding of $3.7 million at December 31, 2015. The loan is payable in monthly installments with a final balloon payment of $3.3 million. The loan is secured by one of the buildings at the Company’s Rancho Cucamonga, California, headquarters complex. The loan has a variable interest rate at the prime rate as published by The Wall Street Journal. Subsequently, the Company entered into a fixed interest rate swap contract on this loan to exchange the variable interest rate for a fixed interest payment over the life of the loan without the exchange of the underlying notional debt amount. The loan bears interest at a fixed rate of 4.39%, and matures in February 2021. Acquisition of Nanjing Letop Medical Technology Co. Ltd. In January 2016, the Company’s subsidiary ANP acquired Nanjing Letop Medical Technology Co. Ltd. or Letop, for $0.7 million. Letop had previously supplied ANP with intermediates used in making various active pharmaceutical ingredients. The Company has concluded that this transaction will be accounted for as a business combination in accordance with ASC 805. Acquisition of fourteen injectable products from Hikma Pharmaceuticals PLC In March 2016, the Company acquired fourteen ANDAs, representing eleven different injectable chemical entities from Hikma Pharmaceuticals PLC for $4.0 million. The Company plans to transfer the products to its facilities in California, which will require FDA approval before the products can be launched.

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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. + References No definition available. + Details
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