GOODWILL AND INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2013

GOODWILL AND INTANGIBLE ASSETS

Schedule of Intangible Assets and Goodwill

The components of net intangible assets are as follows:

	June 30, 2013				December 31, 2012
	Gross Carrying		Accumulated		Gross Carrying			Accumulated	Amortization
	Amount		Amortization		Amount		Amortization		Period
Acquired ANDA intangible asset	$	60,000	$	-	$	60,000	$	-		3 years
Reglan® intangible asset		100,000		(100,000)		100,000		(75,000)		2 years
Teva license intangible asset		10,900,000		-		-		-		11 years
	$	11,060,000	$	(100,000)	$	160,000	$	(75,000)

Finite-lived Intangible Assets Amortization Expense

Expected future amortization expense is as follows:

2013	$	495,455	(remainder of year)
2014		997,577
2015		1,010,910
2016		1,010,910
2017		1,004,243
2018 and thereafter		6,440,905
Total	$	10,960,000