SUBSEQUENT EVENT

3 Months Ended

Mar. 31, 2021

SUBSEQUENT EVENT

SUBSEQUENT EVENT

14. SUBSEQUENT EVENT

On April 1, 2021, we acquired the NDAs for OXISTAT^® Lotion, VEREGEN^® Ointment, and Pandel^® Cream and the ANDA for ApexiCon^® E Cream from Sandoz Inc. for a purchase price of $18.5 million plus approximately $2.2 million for the purchase of API and finished goods inventory. Pandel^® Cream will be transitioned later upon receiving the requisite approvals. The acquisition was funded by a $24.0 million borrowing under our Revolver, which was drawn on April 1, 2021.