Gain on Sale of Assets

9 Months Ended

Sep. 30, 2011

Gain Loss On Sale Of Assets [Abstract]

GAIN ON SALE OF ASSETS

14) GAIN ON SALE OF ASSETS

     On June 30, 2011 the Company entered into an Asset Purchase Agreement with Acella Pharmaceuticals, LLC (“Acella”) pursuant to which the Company sold to Acella U.S. Patent No. 6,979,468 covering Nicomide^®, together with the trademarks Nicomide^® and Nicomide-T^®, and related domain names (the “Divested Assets”). The Divested Assets, which had a book value of $0, were sold for cash consideration of $750,000, all of which was paid at the closing. The Company ceased selling Nicomide^® in June, 2008. The agreement includes customary representations, warranties and covenants for a transaction of this type.