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SUBSEQUENT EVENT
6 Months Ended
Jun. 30, 2021
SUBSEQUENT EVENT  
SUBSEQUENT EVENT

14.

SUBSEQUENT EVENT

On August 3, 2021, the Company entered into a Settlement Agreement with Arbor Pharmaceuticals, LLC to resolve all claims related to Civil Action 17-4910, Arbor Pharmaceuticals, LLC (“Arbor”) v. ANI Pharmaceuticals, Inc., which was pending trial in the United States District Court for the District of Minnesota. Under the terms of the agreement, ANI will pay Arbor $8.4 million and Arbor will dismiss the action with prejudice. Neither party admitted wrongdoing in reaching this settlement. The Company will pay the settlement from cash on the balance sheet.