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11. Royalties Payable
12 Months Ended
Dec. 31, 2018
Royalties Payable  
Royalties Payable

As part of a subscription agreement entered into in 2016, the Company had an obligation to pay a royalty of 5% of net sales on one of its generic products (Anastrozole) for a period of three (3) years from the date of the first sale of that product. In September 2018, 50,000 shares of the Company’s Common Stock valued at $5,900 were issued in exchange for cancellation of this royalty obligation.