XML 39 R24.htm IDEA: XBRL DOCUMENT v3.6.0.2
Subsequent Events
12 Months Ended
Dec. 31, 2016
Subsequent Events  
Subsequent Events

17. Subsequent Events

Subsequent to December 31, 2016, holders of the Notes converted approximately $1.0 million of the Notes. We issued a total of approximately 0.2 million shares of common stock in conversion of the principal amount of the Notes and accrued interest thereon resulting in a remaining outstanding balance of $3.6 million.

During the first quarter of 2017, the Company entered into settlement and license agreements with Zydus Pharmaceutical (USA), Inc. and Cadila Healthcare Limited (collectively, “Zydus”) and with Actavis Laboratories, FL, Inc. et al. (collectively, "Actavis,” now a subsidiary of Teva Pharmaceuticals Industries, Ltd.) to settle ongoing patent litigation regarding Zydus’ and Actavis’ respective ANDA filings seeking approval to market a generic version of the Company’s Trokendi XR (extended-release topiramate) capsules.   These agreements prohibit Zydus and Actavis from selling a generic version of Trokendi XR before January 1, 2023 except under certain circumstances.