Subsequent Event

6 Months Ended

Jun. 30, 2015

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On July 2, 2015, the Federal Circuit Court ruled against the Company in its patent infringement litigation with Hospira with respect to the principal U.S. patents covering Angiomax. In its ruling, the Federal Circuit Court held the '727 patent and '343 patent invalid. As a result, the Company does not have market exclusivity for Angiomax (bivalirudin) in the United States. The effect of this decision has been included in the financial statements. In light of the decision by the Federal Circuit Court, in July 2015 the Company entered into a supply and distribution agreement with Sandoz under which it granted Sandoz the exclusive right to sell in the United States an authorized generic of Angiomax (bivalirudin). In addition, in July 2015 Hospira's ANDAs for its generic versions of bivalirudin were approved by the FDA. As a result, Angiomax is now subject to generic competition with the authorized generic and Hospira's generic bivalirudin. Given the generic competition, the Company has determined to suspend its efforts and expenditures with respect to Angiomax other than for supply chain, quality and safety monitoring and other necessary activities.