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RELATED PARTIES
9 Months Ended
Sep. 30, 2015
Related Party Transactions [Abstract]  
RELATED PARTIES

NOTE 13 – RELATED PARTIES

 

On February 29, 2012, Cooper C. Collins, who was then president and largest shareholder of Pernix Therapeutics, LLC, or Pernix, was elected to serve on our board of directors. From time to time, we have entered into agreements with Pernix in the normal course of business. All such agreements are reviewed by independent directors of our company or a committee consisting of independent directors of our company.

 

During the nine months ended September 30, 2015 and 2014, we did not engage in any transactions with Pernix. At September 30, 2015 and December 31, 2014, there were amounts due Pernix of approximately $46,000.

 

Additionally, there were amounts due to us from Pernix for legal fee reimbursement relating to a litigation matter stemming from a license and supply agreement in the amounts of approximately $250,000 at both September 30, 2015 and December 31, 2014.