SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended			12 Months Ended
	Mar. 31, 2015 Payment Plan	Mar. 31, 2014	Mar. 31, 2012 Payment	Dec. 31, 2014
Cash, Cash Equivalents and Investments [Abstract]
Aggregate fair value of investments	$ 13,010,685			$ 10,900,436
Fair Value Disclosures [Abstract]
Held-to-maturity securities, unrecognized gain	0			0
Held-to-maturity securities, unrecognized loss	0			0
Concentration Risk [Line Items]
Accounts receivable	3,656,516			2,938,731
Royalty revenue	5,594,109	2,740,318
Treasury Stock [Abstract]
Treasury stock purchased (in shares)	2,910	3,225
Average price of share (in dollars per share)	$ 39.27	$ 25.10
Deferred Revenue [Abstract]
Deferred revenue recognized	12,345	17,283
Deferred revenue balances	135,790			148,135
Reimbursable Third Party Development Costs [Abstract]
Accrued patent costs	15,000			34,000
Royalty Buy-Down [Abstract]
Royalty expenses	400,000	100,000
Payment for royalty buy down	600,000		1,500,000
Number of additional cash payments for royalty buy down			5
Number of cash payments made for royalty obligation	2
Deferred costs amortization period	5 years
Amount amortized related to agreement	126,000
Deferred royalty buy-down - long term	3,085,706
Share-based Compensation [Abstract]
Number of stock based compensation plans in effect	1
Weighted-Average Exercise Price [Roll Forward]
Proceeds from stock option exercises	37,200	66,100
Closing price of Company stock (in dollars per share)	$ 39.15
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property, plant and equipment	5 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of property, plant and equipment	10 years
Stock Options [Member]
Stock Option Activity [Roll Forward]
Outstanding, beginning of period (in shares)	759,958
Grants (in shares)	0
Exercised (in shares)	(12,000)
Forfeitures or expirations (in shares)	0
Outstanding, end of period (in shares)	747,958			759,958
Exercisable, end of period (in shares)	716,708
Weighted-Average Exercise Price [Roll Forward]
Outstanding, beginning of period (in dollars per share)	$ 11.04
Grants (in dollars per share)	$ 0
Exercised (in dollars per share)	$ 3.10
Forfeitures or expirations (in dollars per share)	$ 0
Outstanding, end of period (in dollars per share)	$ 11.16			$ 11.04
Exercisable, end of period (in dollars per share)	$ 10.55
Weighted average remaining contractual term, Options outstanding	2 years 10 months 28 days			3 years 1 month 13 days
Weighted average remaining contractual term, Options outstanding	2 years 10 months 28 days			3 years 1 month 13 days
Weighted average remaining contractual term, Exercisable	2 years 9 months 7 days
Aggregate intrinsic value, Options outstanding	23,483,235
Aggregate intrinsic value, Grants	0
Aggregate intrinsic value, Exercised	450,467
Aggregate intrinsic value, Forfeitures or expirations	0
Aggregate intrinsic value, Options outstanding	23,924,725			23,483,235
Aggregate intrinsic value, Exercisable	20,494,302
Proceeds from stock option exercises	37,200	66,100
Unrecognized compensation cost related to non-vested stock options outstanding	52,000
Recognized compensation period	2 years 6 months
General and Administrative [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	5,354	5,354
Accounts Receivables [Member] | Auxilium [Member]
Concentration Risk [Line Items]
Accounts receivable	3,700,000	2,900,000
Number of customers	1
Accounts Receivables [Member] | Endo [Member]
Concentration Risk [Line Items]
Number of customers	1
Revenues [Member] | Auxilium [Member]
Concentration Risk [Line Items]
Royalty revenue	$ 5,600,000	$ 2,700,000