ANI Pharmaceuticals (ANIP) 10-Q 7 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 31, 2013	Oct. 31, 2013
		Common stock	Class C special stock
Document Information [Line Items]	'	'	'
Entity Registrant Name	'ANI PHARMACEUTICALS INC	'	'
Entity Central Index Key	'0001023024	'	'
Document Type	'10-Q	'	'
Document Period End Date	30-Sep-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Smaller Reporting Accelerated Filer	'	'
Trading Symbol	'ANIP	'	'
Entity Common Stock, Shares Outstanding	'	9,480,206	10,868
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'Q3	'	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Current Assets	'	'
Cash and cash equivalents	$10,929,806	$11,028
Restricted cash	2,260,100	0
Accounts receivable, net	9,515,096	5,432,401
Inventories, net	2,809,160	2,809,685
Prepaid expenses	580,597	313,193
Total Current Assets	26,094,759	8,566,307
Property and Equipment	'	'
Land	86,949	86,949
Buildings	3,682,006	3,682,006
Machinery, furniture and equipment	3,736,484	3,564,948
Construction in progress	197,948	208,069
Property, Plant and Equipment, Gross, Total	7,703,387	7,541,972
Less: accumulated depreciation	3,062,900	2,662,799
Total Property and Equipment, net	4,640,487	4,879,173
Other Assets	'	'
Intangible assets, net	10,712,273	85,000
Goodwill	1,838,309	0
Deferred loan costs, net	0	217,290
Total Other Assets	12,550,582	302,290
Total Assets	43,285,828	13,747,770
Current Liabilities	'	'
Accounts payable	2,086,847	1,993,567
Accrued expenses	1,338,215	555,635
Returned goods reserve	457,890	410,992
Deferred revenue	46,712	314,794
Borrowings under line of credit	0	4,065,307
Accrued compensation	2,535,746	21
Current liabilities, discontinued operation	131,613	370,766
Total Current Liabilities	6,597,023	7,711,082
Commitments and Contingencies (Note 10)	'	'
Stockholders' Equity/(Deficit)	'	'
Additional paid-in capital	89,024,878	1,083,431
Accumulated deficit	-51,904,465	-43,798,333
Treasury stock, 59,093 shares of common stock, at cost, on September 30, 2013	-432,562	0
Total Stockholders' Equity/(Deficit)	36,688,805	-42,714,495
Total Liabilities and Stockholders' Equity/(Deficit)	43,285,828	13,747,770
Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	0	48,751,183
Series A Preferred Stock | Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	0	11,579,126
Series B Preferred Stock | Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	0	10,560,082
Series C Preferred Stock | Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	0	4,814,735
Series D Preferred Stock | Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	'	'
Redeemable Convertible Preferred Stock	0	21,797,240
Common Stock $0.0001 Par Value	'	'
Stockholders' Equity/(Deficit)	'	'
Common Stock Value	954	407
Class C special stock	'	'
Stockholders' Equity/(Deficit)	'	'
Common Stock Value	$0	$0

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets [Parenthetical] (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
Treasury Stock, Shares	59,093	'
Series A Preferred Stock	'	'
Preferred Stock, Dividend Rate, Percentage	10.00%	10.00%
Redeemable Convertible Preferred Stock Par Value Per Share	$0.10	$0.10
Redeemable Convertible Preferred Stock Stated Value Per Share	$100	$100
Redeemable Convertible Preferred Stock Authorized Shares	0	108,494
Redeemable Convertible Preferred Stock Issued Shares	0	102,774
Redeemable Convertible Preferred Stock Outstanding Shares	0	102,774
Redeemable Convertible Preferred Stock Cumulative Dividends	'	$2,186,326
Series B Preferred Stock	'	'
Preferred Stock, Dividend Rate, Percentage	10.00%	10.00%
Redeemable Convertible Preferred Stock Par Value Per Share	$0.10	$0.10
Redeemable Convertible Preferred Stock Stated Value Per Share	$110	$110
Redeemable Convertible Preferred Stock Authorized Shares	0	118,915
Redeemable Convertible Preferred Stock Issued Shares	0	78,491
Redeemable Convertible Preferred Stock Outstanding Shares	0	78,491
Redeemable Convertible Preferred Stock Cumulative Dividends	'	1,836,734
Series C Preferred Stock	'	'
Preferred Stock, Dividend Rate, Percentage	12.00%	12.00%
Redeemable Convertible Preferred Stock Par Value Per Share	$0.10	$0.10
Redeemable Convertible Preferred Stock Stated Value Per Share	$110	$110
Redeemable Convertible Preferred Stock Authorized Shares	0	37,956
Redeemable Convertible Preferred Stock Issued Shares	0	34,810
Redeemable Convertible Preferred Stock Outstanding Shares	0	34,810
Redeemable Convertible Preferred Stock Cumulative Dividends	'	994,471
Series D Preferred Stock	'	'
Preferred Stock, Dividend Rate, Percentage	10.00%	10.00%
Redeemable Convertible Preferred Stock Par Value Per Share	$0.10	$0.10
Redeemable Convertible Preferred Stock Stated Value Per Share	$30	$30
Redeemable Convertible Preferred Stock Authorized Shares	0	3,400,000
Redeemable Convertible Preferred Stock Issued Shares	0	2,375,312
Redeemable Convertible Preferred Stock Outstanding Shares	0	2,375,312
Redeemable Convertible Preferred Stock Cumulative Dividends	'	$4,184,858
Common Stock $0.0001 Par Value	'	'
Common Stock, Par Value (in dollars per share)	$0.00	$0.00
Common Stock, Authorized Shares	33,333,334	33,333,334
Common Stock, Issued Shares	9,539,299	4,070,373
Common Stock, Outstanding Shares	9,480,206	4,070,373
Class C special stock	'	'
Common Stock, Par Value (in dollars per share)	$0.00	$0.00
Common Stock, Authorized Shares	781,281	781,281
Common Stock, Issued Shares	10,868	10,868
Common Stock, Outstanding Shares	10,868	10,868

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net Revenues	$7,836,222	$5,036,024	$19,549,670	$15,049,619
Operating Expenses	'	'	'	'
Cost of sales (excluding depreciation and amortization)	2,629,119	2,321,773	7,066,195	6,292,377
Salaries and benefits	1,729,066	1,291,667	8,699,638	3,516,427
Freight	81,416	80,622	224,189	242,814
Research and development	453,897	148,650	1,187,461	636,726
Selling, general and administrative	1,750,734	1,256,754	4,261,182	2,961,649
Depreciation and amortization	381,699	143,959	672,828	425,238
Total Operating Expenses	7,025,931	5,243,425	22,111,493	14,075,231
Operating Income/(Loss) from Continuing Operations	810,291	-207,401	-2,561,823	974,388
Other Income/(Expense)	'	'	'	'
Interest expense	0	-81,225	-466,902	-1,239,137
Other income/(expense)	147,563	-91,205	-336,393	-190,605
Net Income/(Loss) from Continuing Operations Before Income Tax Benefit	957,854	-379,831	-3,365,118	-455,354
Income tax benefit	82,852	866	82,852	36,327
Net Income/(Loss) from Continuing Operations	1,040,706	-378,965	-3,282,266	-419,027
Discontinued Operation	'	'	'	'
Gain on discontinued operation, net of tax	150,337	1,617	150,337	67,793
Net Income/(Loss)	1,191,043	-377,348	-3,131,929	-351,234
Computation of Income/(Loss) from Continuing Operations Attributable to Common Stockholders:	'	'	'	'
Net Income/(Loss) from Continuing Operations	1,040,706	-378,965	-3,282,266	-419,027
Preferred stock dividends	0	-2,527,565	-4,974,199	-4,326,622
Income/(Loss) from Continuing Operations Attributable to Common Stockholders	$1,040,706	($2,906,530)	($8,256,465)	($4,745,649)
Basic and Diluted Income/(Loss) Per Share:	'	'	'	'
Continuing operations (in dollars per share)	$0.11	($1,295.82)	($2.31)	($4,689.38)
Discontinued operation (in dollars per share)	$0.02	$0.72	$0.04	$66.99
Basic and Diluted Income/(Loss) Per Share (in dollars per share)	$0.13	($1,295.10)	($2.27)	($4,622.39)
Basic and Diluted Weighted-Average Shares Outstanding (in shares)	9,480,206	2,243	3,578,178	1,012

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash Flows From Operating Activities	'	'
Net loss from continuing operations	($3,282,266)	($419,027)
Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities:	'	'
Stock-based compensation	2,951	0
Depreciation and amortization	672,828	425,238
Non-cash interest relating to convertible debt and loan cost amortization	217,290	1,027,713
Non-cash compensation relating to business combination	4,418,524	0
Changes in operating assets and liabilities, net of those acquired in business combination:	'	'
Accounts receivable	-4,082,695	-518,429
Inventories	525	-387,172
Prepaid expenses	-188,143	83,031
Accounts payable	93,280	87,897
Accrued expenses, returned goods reserve and deferred revenue	-382,858	188,271
Net Cash and Cash Equivalents (Used in)/Provided by Continuing Operations	-2,530,564	487,522
Net Cash Used in Discontinued Operation	-88,816	-65,917
Net Cash and Cash Equivalents (Used in)/Provided by Operating Activities	-2,619,380	421,605
Cash Flows From Investing Activities	'	'
Cash acquired in business combination	18,197,442	0
Acquisition of property and equipment, net of disposals	-161,415	-76,888
Net Cash and Cash Equivalents Provided by/(Used in) Investing Activities	18,036,027	-76,888
Cash Flows From Financing Activities	'	'
(Repayments)/borrowings under line of credit, net	-4,065,307	364,362
Payment of debt issuance costs	0	-260,748
Treasury stock purchases	-432,562	0
Net Cash and Cash Equivalents Used in Continuing Operations	-4,497,869	103,614
Net Cash Used in Discontinued Operation	0	-300,000
Net Cash and Cash Equivalents Used in Financing Activities	-4,497,869	-196,386
Change in Cash and Cash Equivalents	10,918,778	148,331
Cash and cash equivalents, beginning of period	11,028	0
Cash and cash equivalents, end of period	10,929,806	148,331
Supplemental disclosure for cash flow information:	'	'
Cash paid for interest	249,612	211,424
Supplemental non-cash investing and financing activities:	'	'
Issuance of common stock in business combination	40,033,695	0
Cancellation of Series D, Series C, Series B, Series A, and common stock	57,296,106	0
Acquired intangibles	10,900,000	0
Acquired goodwill	1,838,309	0
Acquired restricted cash	2,260,100	0
Other acquired tangible assets	79,261	0
Assumed liabilities	3,479,979	0
Preferred stock dividends	4,974,199	4,326,622
Issuance of common and preferred stock upon cashless warrant exercise	0	4,984
Issuance of preferred stock upon convertible debt conversion	$0	$17,609,646

DESCRIPTION_OF_BUSINESS_AND_SU

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2013
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	1.     DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Overview
	ANI Pharmaceuticals, Inc. (the “Company”) is a specialty pharmaceutical company, developing and marketing generic and branded prescription products. In two facilities located in Baudette, Minnesota, with combined manufacturing, packaging and laboratory capacity totaling 173,000 sq. ft., the Company manufactures oral solid dose products, as well as liquids and topicals, including those that must be manufactured in a fully contained environment due to their potency and/or toxicity. The Company also performs contract manufacturing for other pharmaceutical companies.
	On June 19, 2013, BioSante Pharmaceuticals, Inc. (“BioSante”) acquired ANIP Acquisition Company (“ANIP”) in an all-stock, tax-free reorganization (Note 2), in which ANIP became a wholly-owned subsidiary of BioSante. BioSante was renamed ANI Pharmaceuticals, Inc. The Merger was accounted for as a reverse acquisition pursuant to which ANIP was considered the acquiring entity for accounting purposes. As such, ANIP's historical results of operations replace BioSante's historical results of operations for all periods prior to the Merger. The results of operations of both companies are included in the Company’s financial statements for all periods after completion of the Merger.
	The Company's operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history and uncertainty of future profitability and possible fluctuations in financial results. The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet the Company’s obligations as they become due. Management believes the going-concern basis is appropriate for the accompanying unaudited condensed consolidated financial statements based on its current operating plan through September 30, 2014.
	Basis of Presentation
	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly the Company’s financial position, results of operations and cash flows. The condensed consolidated balance sheet at December 31, 2012, has been derived from audited financial statements of that date. The interim condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. Certain information and footnote disclosure normally included in financial statements prepared in accordance with US GAAP have been omitted pursuant to instructions, rules and regulations prescribed by the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission. Management believes that the disclosures provided herein are adequate to make the information presented not misleading when these condensed consolidated financial statements are read in conjunction with the audited financial statements and notes previously distributed in the Company’s annual report on Form 10-K for the year ended December 31, 2012 and proxy statement/prospectus filed on May 8, 2013. Certain prior period information has been reclassified to conform to the current period presentation.
	Principles of  Consolidation
	The condensed consolidated financial statements include the accounts of ANI Pharmaceuticals, Inc. and its wholly-owned subsidiary, ANIP. All significant inter-company accounts and transactions are eliminated in consolidation.
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for doubtful accounts, accruals for chargebacks, returns and other allowances, allowance for inventory obsolescence, valuation of derivative liabilities, allowances for contingencies and litigation, deferred tax valuation allowance, and the depreciable lives of fixed assets. Actual results could differ from those estimates.
	Credit Concentration
	The Company’s customers are primarily pharmaceutical companies, wholesale distributors, chain drug stores, and group purchasing organizations.
	During the three month period ended September 30, 2013, two customers represented 27% and 19% of net revenues. During the three month period ended September 30, 2012, these same customers represented 24% and 25% of net revenues, respectively. As of September 30, 2013, accounts receivable from these customers totaled $6,105,271. During the nine month period ended September 30, 2013, four customers represented approximately 28%, 18%, 10%, and 5% of net revenues. During the nine month period ended September 30, 2012, these same four customers represented 24%, 21%, 8%, and 12% of net revenues, respectively.
	Vendor Concentration
	During the three month period ended September 30, 2013, the Company purchased approximately 54% of total costs of goods sold from two suppliers. As of September 30, 2013, amounts payable to these suppliers totaled $700,424. During the nine month period ended September 30, 2013, the Company purchased approximately 31% of total costs of goods sold from two suppliers. During the three month period ended September 30, 2012, the Company purchased approximately 43% of total costs of goods sold from two suppliers. During the nine month period ended September 30, 2012, the Company purchased approximately 55% of total costs of goods sold from three suppliers.
	Revenue Recognition
	Revenue is recognized for product sales upon passing of risk and title to the customer, when estimates of discounts, rebates, promotional adjustments, price adjustments, returns, chargebacks, and other potential adjustments are reasonably determinable, collection is reasonably assured, and the Company has no further performance obligations. These estimates reduce gross revenues to net revenues in the accompanying unaudited condensed consolidated statements of operations, and are presented as current liabilities or reductions in accounts receivable in the accompanying unaudited condensed consolidated balance sheets.
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with original maturities of three months or less to be cash equivalents. All interest bearing and non-interest bearing accounts are guaranteed by the FDIC up to $250,000. The Company may maintain cash balances in excess of FDIC coverage. Management considers this to be a normal business risk.
	In conjunction with the Merger, the Company acquired restricted cash, which will be paid out in satisfaction of certain severance liabilities assumed in the Merger (Note 2).
	Accounts Receivable
	The Company extends credit to customers on an unsecured basis. The Company uses the allowance method to provide for doubtful accounts based on management’s evaluation of the collectability of accounts receivable, whereby the Company provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. Management’s estimate is based on historical collection experience and a review of the current status of trade accounts receivable. The Company determines trade receivables to be delinquent when they are greater than 30 days past due. Receivables are written off when it is determined that amounts are uncollectible. Management determined that no allowance for doubtful accounts was necessary as of September 30, 2013 and December 31, 2012.
	Accruals for Chargebacks, Returns and Other Allowances
	The Company’s generic and branded product revenues are typically subject to agreements with customers allowing chargebacks, product returns, administrative fees, and other rebates and prompt payment discounts. The Company accrues for these items at the time of sale and continually monitors and re-evaluates the accruals as additional information becomes available. The Company makes adjustments to the accruals at the end of each reporting period, to reflect any such updates to the relevant facts and circumstances. Accruals are relieved upon receipt of payment from the customer or upon issuance of credit to the customer.
	The following table summarizes activity in the balance sheet for accruals and allowances for the nine month periods ended September 30, 2013 and 2012, respectively:
							Administrative		Prompt
							Fees and Other		Payment
			Chargebacks		Returns		Rebates		Discounts
	Balance at January 1, 2013		$	5,661,974	$	410,992	$	230,575	$	241,840
	Accruals/adjustments			20,132,724		1,154,726		1,435,996		751,993
	Credits taken against reserve			-19,734,545		-1,107,828		-979,404		-667,473
	Balance at September 30, 2013		$	6,060,153	$	457,890	$	687,167	$	326,360
							Administrative		Prompt
							Fees and Other		Payment
			Chargebacks		Returns		Rebates		Discounts
	Balance at January 1, 2012		$	3,680,838	$	252,045	$	238,195	$	166,439
	Accruals/adjustments			15,996,550		486,844		925,488		522,812
	Credits taken against reserve			-15,348,165		-351,274		-892,370		-481,435
	Balance at September 30, 2012		$	4,339,223	$	387,615	$	271,313	$	207,816
	Inventories
	Inventories consist of raw materials, packaging materials, work-in-progress, and finished goods. Inventories are stated at the lower of cost or net realizable value. The Company values inventory at standard cost. The Company reviews and adjusts standard costs periodically and its inventory, as valued, approximates weighted average cost.
	Property and Equipment
	Property and equipment are recorded at cost. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is recorded on a straight-line basis over estimated useful lives as follows:
		Buildings and improvements	20-40 years
		Machinery, furniture and equipment	3-10 years
	Construction in progress includes the cost of construction and other direct costs attributable to the construction, along with capitalized interest, if any. Depreciation is not recorded on construction in progress until such time as the assets are placed in service. During the nine month period ended September 30, 2013 and the year ended December 31, 2012, there was no material interest capitalized into construction in progress.
	Depreciation expense for the three month periods ended September 30, 2013 and 2012 totaled $133,972 and $131,459, respectively. Depreciation expense for the nine month periods ended September 30, 2013 and 2012 totaled $400,101 and $387,738, respectively.
	Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the long-lived asset is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Assets held for disposal are reportable at the lower of the carrying amount or fair value, less costs to sell. Management determined that no assets were impaired and no assets were held for disposal as of September 30, 2013 and December 31, 2012.
	Income Taxes
	The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that such tax rate changes are enacted. The measurement of a deferred tax asset is reduced, if necessary, by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. For interim periods, the Company recognizes an income tax provision (benefit) based on its estimated annual effective tax rate expected for the entire year.
	Management uses a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return, as well as guidance on derecognition, classification, interest and penalties and financial statement reporting disclosures. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company has not identified any uncertain income tax positions that could have a material impact on the financial statements. The Company is subject to taxation in various jurisdictions and remains subject to examination by taxing jurisdictions for the years 1998 and all subsequent periods due to the availability of net operating loss carryforwards.
	The Company recognizes interest and penalties accrued on any unrecognized tax exposures as a component of income tax expense. The Company did not have any amounts accrued relating to interest and penalties as of September 30, 2013 and December 31, 2012.
	The Company considers potential tax effects resulting from discontinued operations and records intra-period tax allocations, when those effects are deemed material.
	Income/(Loss) per Share
	Basic income/(loss) per share is calculated by dividing net income/(loss) less preferred stock dividends by the weighted-average number of shares of common stock outstanding during the period.
	For periods of net income, and when the effects are not anti-dilutive, diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding plus the impact of all potential dilutive common shares, consisting primarily of stock purchase warrants and common stock options, using the treasury stock method.
	For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses.
	The number of anti-dilutive shares, consisting of Class C Special stock, common stock options, and warrants exercisable for common stock (and prior to the Merger, warrants exercisable for preferred stock, convertible debt, and convertible preferred stock), which have been excluded from the computation of diluted income/(loss) per share for the three month periods ended September 30, 2013 and 2012, were 909,792 and 242,247, respectively. The number of anti-dilutive shares, consisting of Class C Special stock, common stock options, and warrants exercisable for common stock, (and prior to the Merger, warrants exercisable for preferred stock, convertible debt, and convertible preferred stock), which have been excluded from the computation of diluted income/(loss) per share for the nine month periods ended September 30, 2013 and 2012, were 498,647 and 115,351, respectively.
	As of September 30, 2013, the Company had 120,066 common stock options and 781,349 warrants exercisable for common stock outstanding.
	Stock Splits
	In July 2013, the Company's Board of Directors and stockholders approved a resolution to effect a one-for-six reverse stock split of the Company's common stock and Class C Special stock with no corresponding change to the par value. The number of authorized shares of common stock, Class C Special stock and blank check preferred stock was reduced proportionally. Common stock and Class C Special share numbers for all periods presented have been adjusted retrospectively to reflect the one-for-six reverse stock split.
	Redeemable Convertible Preferred Stock
The carrying value of the Company’s redeemable convertible preferred stock was increased by the accretion of any related discounts and accrued but unpaid dividends so that the carrying amount would equal the redemption amount at the dates the stock became redeemable. The Company’s Series A, B, C and D preferred stock was redeemable at the option of the holders, subject to certain additional requirements. All of the Company’s Series D preferred stock was exchanged for shares of BioSante common stock and all of the Company’s Series A, B and C preferred stock were canceled in conjunction with the Merger (Note 2).
Segment Information
The Company currently operates in a single business segment.
Recent Accounting Pronouncements
The Company has evaluated all issued and unadopted Accounting Standards Updates and believes the adoption of these standards will not have a material impact on its results of operations, financial position, or cash flows.

BUSINESS_COMBINATION

BUSINESS COMBINATION	9 Months Ended
	Sep. 30, 2013
BUSINESS COMBINATION	'
BUSINESS COMBINATION	'
	2.    BUSINESS COMBINATION
	Summary
	On June 19, 2013, BioSante acquired ANIP in an all-stock, tax-free reorganization. The Company is operating under the leadership of the ANIP management team and the board of directors is comprised of two former directors from BioSante and five former ANIP directors.
	BioSante issued to ANIP stockholders shares of BioSante common stock such that the ANIP stockholders owned 57 percent of the combined company’s shares outstanding, and the former BioSante stockholders owned 43 percent. In addition, immediately prior to the Merger, BioSante distributed to its then current stockholders contingent value rights (“CVR”) providing payment rights arising from a future sale, transfer, license or similar transaction(s) involving BioSante’s LibiGel ® (female testosterone gel).
	The Merger was accounted for as a reverse acquisition pursuant to which ANIP was considered the acquiring entity for accounting purposes. As such, ANIP's historical results of operations replace BioSante's historical results of operations for all periods prior to the Merger. BioSante, the accounting acquiree, was a pharmaceutical company focused on developing high value, medically-needed products. ANIP entered into the Merger to secure additional capital and gain access to capital market opportunities as a public company.
	The results of operations of both companies are included in the Company’s financial statements for all periods after completion of the Merger.
	Transaction Costs
	In conjunction with the Merger, the Company incurred approximately $7.1 million in transaction costs, which were expensed in the periods in which they were incurred. Costs incurred through September 30, 2013, include:
	Category
	Legal fees	$	1,226,535
	Accounting fees		121,748
	Consulting fees		119,194
	Monitoring and advisory fees		390,000
	Transaction bonuses		4,801,364
	Other		428,992
	Total transaction costs	$	7,087,833
	Of the total expenses, $928,695 was incurred and expensed in 2012 and $6,159,138 was incurred and expensed in the nine months ended September 30, 2013.
	Purchase Consideration and Net Assets Acquired
	The fair value of BioSante’s common stock used in determining the purchase price was $1.22 per share, the closing price on June 19, 2013. The fair value of the vested BioSante stock options was not material. The following presents the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed on June 19, 2013:
	Fair value of BioSante shares outstanding	$	29,795,133
	Estimated fair value of vested BioSante stock options		-
	Total purchase consideration	$	29,795,133
	Assets acquired
	Cash and cash equivalents	$	18,197,442
	Restricted cash		2,260,100
	Teva license intangible asset		10,900,000
	Other tangible assets		79,261
	Deferred tax assets, net		-
	Goodwill		1,838,309
	Total assets		33,275,112
	Liabilities assumed
	Accrued severance		2,964,962
	Other liabilities		515,017
	Total liabilities		3,479,979
	Total net assets acquired	$	29,795,133
	The above allocation of the purchase price is based upon certain preliminary valuations and other analyses that have not been completed as of the date of this filing. Any changes in the estimated fair values of the net assets recorded for this business combination upon the finalization of more detailed analyses of the facts and circumstances that existed at the date of the transaction will change the allocation of the purchase price. As such, the purchase price allocations for this transaction are preliminary estimates, which are subject to change within the measurement period. Any subsequent changes to the purchase allocation that are material will be adjusted retrospectively during the measurement period.
	The Teva license is being amortized on a straight-line basis over its estimated useful life of 11 years. Goodwill, which is not tax deductible since the transaction was structured as a tax-free exchange, is considered an indefinite-lived asset and relates primarily to intangible assets that do not qualify for separate recognition.
	Former BioSante operations did not generate any revenue or expense from the acquisition date through September 30, 2013.
	Pro Forma Condensed Combined Financial Information (unaudited)
	The following unaudited pro forma condensed combined financial information summarizes the results of operations for the periods indicated as if the Merger had been completed as of January 1, 2012. Pro forma information reflects adjustments relating to (i) elimination of the interest on ANIP’s senior and convertible debt, (ii) elimination of monitoring and advisory fees payable to two ANIP investors, (iii) elimination of transaction costs, and (iv) amortization of intangibles acquired. The pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the Merger had occurred as of January 1, 2012 or that may be obtained in the future.
		Three months ended September 30,				Nine months ended September 30,
		2013		2012		2013		2012
	Net revenues	$	7,836,222	$	5,146,407	$	19,694,710	$	15,382,782
	Net income/(loss)	$	1,691,720	$	-6,246,057	$	-3,178,713	$	-23,066,678

ACCOUNTS_RECEIVABLE

ACCOUNTS RECEIVABLE	9 Months Ended
	Sep. 30, 2013
ACCOUNTS RECEIVABLE	'
ACCOUNTS RECEIVABLE	'
	3.     ACCOUNTS RECEIVABLE
	Accounts receivable consist of the following as of:
		September 30,		December 31,
		2013		2012
	Accounts receivable, gross	$	16,568,775	$	11,556,510
	Adjustments for chargebacks and other allowances		-7,053,679		-6,124,109
	Accounts receivable, net	$	9,515,096	$	5,432,401

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2013
INVENTORIES	'
INVENTORIES	'
	4.     INVENTORIES
	Inventories consist of the following as of:
		September 30,		December 31,
		2013		2012
	Raw materials	$	1,407,457	$	974,967
	Packaging materials		650,058		584,654
	Work-in-progress		171,464		374,257
	Finished goods		664,180		890,683
			2,893,159		2,824,561
	Reserve for excess/obsolete inventories		-83,999		-14,876
	Inventories, net	$	2,809,160	$	2,809,685

GOODWILL_AND_INTANGIBLE_ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2013
GOODWILL AND INTANGIBLE ASSETS	'
GOODWILL AND INTANGIBLE ASSETS	'
	5.     GOODWILL AND INTANGIBLE ASSETS
	Goodwill
	As a result of the Merger (Note 2), the Company recorded goodwill of $1,838,309. The Company conducts an impairment test of goodwill on an annual basis as of October 31 of each year. The Company also conduct tests if events occur or circumstances change that would, more likely than not, reduce the fair value of the Company below its carrying value. No such triggering events were identified during the period from the date of the Merger to September 30, 2013 and therefore no impairment loss was recognized as of September 30, 2013.
	Intangible Assets
	The components of net intangible assets are as follows:
		September 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		-247,727		-		-	11 years
		$	11,060,000	$	-347,727	$	160,000	$	-75,000
	Intangible assets are stated at the lower of cost or fair value, net of amortization using the straight line method over the expected useful lives of the product rights, once the related products begin to sell. Amortization expense was $247,727 and $12,500 for the three month periods ended September 30, 2013 and 2012, respectively. Amortization expense was $272,727 and $37,500 for the nine month periods ended September 30, 2013 and 2012, respectively.
	The Company tests for impairment of definite-lived intangible assets when events or circumstances indicate that the carrying value of the assets may not be recoverable. No such triggering events were identified during the period from the date of the Merger to September 30, 2013 and therefore no impairment loss was recognized as of September 30, 2013.
	Expected future amortization expense is as follows:
	2013 (remainder of year)	$	247,728
	2014		997,577
	2015		1,010,910
	2016		1,010,910
	2017		1,004,243
	2018 and thereafter		6,440,905
	Total	$	10,712,273

DISCONTINUED_OPERATION

DISCONTINUED OPERATION	9 Months Ended
	Sep. 30, 2013
DISCONTINUED OPERATION	'
DISCONTINUED OPERATIONS	'
	6.    DISCONTINUED OPERATION
	On September 17, 2010, the Company sold its operation in Gulfport, Mississippi to a third-party. The decision to sell the Gulfport operation was based on its historical underperformance and recurring losses and the anticipated need for continued financing from outside sources to maintain ongoing operations.
	As of September 30, 2013 and December 31, 2012, total net liabilities associated with discontinued operation were $131,613 and $370,766, respectively, and consisted of balances due to various vendors of the discontinued operation and other remaining liabilities. These liabilities have been segregated from continuing operations in the accompanying unaudited condensed consolidated balance sheets.
	The gains on discontinued operation totaled $150,337 and $1,617, net of $82,852 and $866 of income tax expense, respectively, for the three month periods ended September 30, 2013 and 2012, respectively. The gains on discontinued operation totaled $150,337 and $67,793, net of $82,852 and $36,327 of income tax expense, respectively, for the nine month periods ended September 30, 2013 and 2012, respectively and have been segregated from continuing operations in the accompanying unaudited condensed consolidated statements of operations. During the three and nine month periods ended September 30, 2013, the gain on discontinued operation was the result of finalizing a portion of the remaining liabilities. During the nine month period ended September 30, 2012, the gain on discontinued operation consisted of various vendor settlements.

LINE_OF_CREDIT

LINE OF CREDIT	9 Months Ended
	Sep. 30, 2013
LINE OF CREDIT	'
LINE OF CREDIT	'
	7.    LINE OF CREDIT
	Prior to June 2012, the Company had borrowings under a line of credit agreement with a commercial lender. Under the terms of a forbearance agreement, amended in October 2011, the Company could borrow an amount equal to the lesser of the borrowing base, as defined, or $3.5 million. Interest accrued at an annual rate of the Base Rate, as defined, plus 6.0%. In addition, a usage fee equal to 0.75% per annum of the unused facility and a management fee equal to $9,000 per annum were assessed monthly. The line of credit was secured by substantially all of the Company’s assets. The line of credit and amended forbearance agreement expired in June 2012 and all amounts borrowed were repaid in full at that time.
	In June 2012, the Company entered into a new revolver loan agreement with a commercial bank in the amount of $5,000,000. The revolver loan agreement bore interest daily at the greater of (i) LIBOR plus 5%, or (ii) 6%, and was secured by substantially all of the Company’s assets. In addition, a usage fee equal to 0.375% per annum of the unused facility and a management fee equal to $18,000 per annum were assessed monthly. Under the agreement, the Company was required to maintain a minimum fixed charge coverage ratio of 1.1 to 1.0, calculated by dividing (a) (i) earnings before interest, taxes, depreciation and amortization (EBITDA) less (ii) unfinanced capital expenditures, by the sum of cash paid for (b) (i) interest and (ii) monitoring and advisory fees (Note 10). Also, the Company was required to generate at least $800,000 in EBITDA measured on a trailing four-quarter basis. Restrictive covenants applied to, among other things, research and development expenditures, additional liens, mergers or consolidations, and sales of assets. The Company was not in compliance with certain covenants as of December 31, 2012. The Company subsequently obtained a waiver from its lender, the loan covenants were revised, and the revolver loan limit was increased to $6.0 million.
	Beginning in 2013, the Company was required to maintain a minimum fixed charge coverage ratio of 1.1 to 1.0. Also beginning in 2013, the Company was required to generate at least $225,000 in EBITDA during the three month period ending March 31, 2013, $450,000 in EBITDA during the six month period ending June 30, 2013, $675,000 in EBITDA during the nine month period ending September 30, 2013, and $900,000 in EBITDA for the year ended December 31, 2013 and for every quarterly period thereafter measured on a trailing four-quarter basis. Restrictive covenants applied to, among other things, additional liens, mergers or consolidations, and sales of assets. In the event of early termination, the Company was required to pay a prepayment fee of $180,000 if termination occurred in the first year, $120,000 if termination occurred in the second year, and $60,000 if termination occurred after the second year but prior to the last day of the term. As of December 31, 2012, $4,065,307 was outstanding on the revolver, at an effective interest rate of 6.0%. The revolver loan was repaid in full in June 2013.

STOCKBASED_COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2013
STOCK-BASED COMPENSATION	'
STOCK-BASED COMPENSATION	'
	8.    STOCK-BASED COMPENSATION
	All options are granted under the ANI Pharmaceuticals, Inc. Amended and Restated 2008 Stock Incentive Plan (the “2008 Plan”). As of September 30, 2013, 185,490 shares of the Company’s common stock remained available for issuance under the 2008 Plan.
	On July 12, 2013, the Company’s Board of Directors approved grants of stock options to employees under the 2008 Plan, subject to shareholder approval of an increase in the total shares available for issuance under the 2008 Plan. As of September 30, 2013, the Company had 326,424 common stock options outstanding pending shareholder approval. Expense related to these stock options will begin to be recognized upon shareholder approval.
	During the three and nine month periods ended September 30, 2013, the Company granted 20,832 options to board members under the 2008 Plan. Total expense related to these options was $2,951 during the three and nine month periods ended September 30, 2013. No options expired or were exercised during the three month periods ended September 30, 2013. Options to purchase an aggregate 67,093 shares of the Company’s common stock expired and were cancelled during the nine month period ended September 30, 2013. No options were exercised during the nine month period ended September 30, 2013.
	No warrants were granted or exercised during the three and nine month periods ended September 30, 2013. During the nine month period ended September 30, 2013, 8,333 warrants expired. No warrants expired during the three month period ended September 30, 2013.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2013
INCOME TAXES	'
INCOME TAXES	'
	9.    INCOME TAXES
	The Company has no current tax provision due to its current and accumulated losses, which result in net operating loss carryforwards. The utilization of the net operating loss carryforwards may be limited in future years as prescribed by Section 382 of the US Internal Revenue Code. Based upon the historical losses and uncertainty of future taxable income, management has fully reserved for the net operating loss carryforwards balance as of September 30, 2013 and December 31, 2012.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2013
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	10.  COMMITMENTS AND CONTINGENCIES
	Operating Leases
	The Company leases equipment under operating leases that expire in May 2017. The Company also leases office space under operating leases that expire in beginning in February 2014 through July 2018. Future minimum lease payments due under these leases total $478,169 as of September 30, 2013.
	Rent expense for the three month periods ended September 30, 2013 and 2012 totaled $11,324 and $2,356, respectively. Rent expense for the nine month periods ended September 30, 2013 and 2012 totaled $25,721 and $6,987, respectively.
	Monitoring and Advisory Fees
	The Company was required to pay monitoring and advisory fees to two investors. A total of $0 and $50,000 of monitoring fees is included in other expense in the accompanying unaudited condensed consolidated statements of operations for the three month periods ended September 30, 2013 and 2012, respectively. A total of $483,956 and $150,000 is included in other expense in the accompanying unaudited condensed consolidated statements of operations for the nine month periods ended September 30, 2013 and 2012, respectively. These fees were paid quarterly in advance on the first business day of each calendar quarter.
	Included in the amounts above and in conjunction with the Merger, the Company paid additional monitoring and advisory fees totaling $390,000 to the same two investors (Note 2). Upon completion of the Merger, the Company’s obligation to pay monitoring and advisory fees was terminated.
	Government Regulation
	The Company’s products and facilities are subject to regulation by a number of federal and state governmental agencies. The Food and Drug Administration (“FDA”), in particular, maintains oversight of the formulation, manufacture, distribution, packaging and labeling of all of the Company’s products. The Drug Enforcement Administration (“DEA”) maintains oversight over the Company’s products that are considered controlled substances.
	Unapproved Products
	Two of the  Company’s products, Esterified Estrogen with Methyltestosterone tablets and Opium Tincture, are marketed without approved New Drug Applications (“NDA”) or Abbreviated New Drug Applications (“ANDA”). During the three month periods ended September 30, 2013 and 2012, net revenues for these products totaled $4,418,166 and $1,634,542, respectively. During the nine month periods ended September 30, 2013 and 2012, net revenues for these products totaled $7,704,753 and $4,298,629, respectively.
	The FDA’s policy with respect to the continued marketing of unapproved products is stated in the FDA’s September 2011 compliance policy guide, Marketed New Drugs without Approved NDAs or ANDAs. Under this policy, the FDA has stated that it will follow a risk-based approach with regard to enforcement against such unapproved products. The FDA evaluates whether to initiate enforcement action on a case-by-case basis, but gives higher priority to enforcement action against products in certain categories, such as those marketed as unapproved drugs with potential safety risks or that lack evidence of effectiveness. The Company believes that so long as it complies with applicable manufacturing and labeling standards, the FDA will not take action against it under the current enforcement policy. There can be no assurance, however, that the FDA will continue this policy or not take a contrary position with any individual product or group of products. If the FDA were to take a contrary position, the Company may be required to seek FDA approval for these products or withdraw such products from the market.
	In addition, one group of products that the Company manufactures on behalf of a contract customer is marketed by that customer without an FDA-approved NDA. If the FDA took enforcement action against such customer, the customer may be required to seek FDA approval for the group of products or withdraw them from the market. The Company’s contract manufacturing revenues for the group of unapproved products for the three month periods ended September 30, 2013 and 2012 were $468,717 and $370,695, respectively. The Company’s contract manufacturing revenues for the group of unapproved products for the nine month periods ended September 30, 2013 and 2012 were $1,692,921 and $774,653, respectively.
	The Company receives royalties on the net sales of a group of contract-manufactured products, which are marketed by the contract customer without an FDA-approved NDA. If the FDA took enforcement action against such customer, the customer may be required to seek FDA approval for the group of products or withdraw them from the market. The Company’s royalties on the net sales of these unapproved products for the three month periods ended September 30, 2013 and 2012 were $134,745 and $88,502, respectively. The Company’s royalties on the net sales of these unapproved products for the nine month periods ended September 30, 2013 and 2012 was $320,018 and $219,926, respectively.
	In October 2012, the Company received a telephone call requesting a meeting with the FDA representatives from the Minneapolis district of the FDA to discuss continued manufacturing and distribution of the Opium 10mg/mL Solution 118mL product (“Opium Tincture”), which is a non-NDA Product. That meeting was held on October 25, 2012 by conference telephone call and included FDA representatives from the Office of Compliance at the Center for Drug Evaluation and Research. Counsel to the Company sent a letter to the FDA on November 9, 2012 in support of the Company’s position. Although the FDA confirmed receipt of this letter, the Company has received no further response thereto. If the FDA were to make a determination that the Company could not continue to sell Opium Tincture as an unapproved product, the Company would be required to seek FDA approval for such product or withdraw such product from the market. If the Company determined to withdraw the product from the market, the Company’s net revenues for generic pharmaceutical products would decline materially, and if the Company decided to seek FDA approval, it would face increased expenses and might need to suspend sales of the product until such approval is obtained, and there are no assurances that the Company would receive such approval.
	Shareholder Class Action and Derivative Lawsuits
	On February 3, 2012, a purported class action lawsuit was filed in the United States District Court for the Northern District of Illinois under the caption Thomas Lauria, on behalf of himself and all others similarly situated v. BioSante Pharmaceuticals, Inc. and Stephen M. Simes naming the Company and its former President and Chief Executive Officer, Stephen M. Simes, as defendants. The complaint alleges that certain of the Company’s disclosures relating to the efficacy of LibiGel® and its commercial potential were false and/or misleading and that such false and/or misleading statements had the effect of artificially inflating the price of the Company’s securities resulting in violations of Section 10(b) of the Exchange Act, Rule 10b-5 and Section 20(a) of the Exchange Act. Although a substantially similar complaint was filed in the same court on February 21, 2012, such complaint was voluntarily dismissed by the plaintiff in April 2012. The plaintiff sought to represent a class of persons who purchased the Company’s securities between February 12, 2010 and December 15, 2011, and sought unspecified compensatory damages, equitable and/or injunctive relief, and reasonable costs, expert fees and attorneys’ fees on behalf of such purchasers. On November 6, 2012, the plaintiff filed a consolidated amended complaint. On December 28, 2012, the Company and Mr. Simes filed motions to dismiss the consolidated amended complaint. On September 11, 2013, the Illinois district court judge granted defendants’ motions to dismiss, without prejudice, and gave plaintiffs 28 days to file an amended complaint.  The plaintiffs did not file an amended complaint and the matter has been concluded.
	On May 7, 2012, Jerome W. Weinstein, a purported stockholder of the Company, filed a shareholder derivative action in the United States District Court for the Northern District of Illinois under the caption Weinstein v. BioSante Pharmaceuticals, Inc. et al., naming the Company’s directors as defendants and the Company as a nominal defendant. A substantially similar complaint was filed in the same court on May 22, 2012 and another substantially similar complaint was filed in the Circuit Court for Cook County, Illinois, County Department, Chancery Division, on June 27, 2012. The suits generally related to the same events that are the subject of the class action litigation described above. The complaints allege breaches of fiduciary duty, abuse of control, gross mismanagement and unjust enrichment as causes of action occurring from at least February 2010 through December 2011. The complaints seek unspecified damages, punitive damages, costs and disbursements and unspecified reform and improvements in the Company’s corporate governance and internal control procedures.
	On September 24, 2012, the United States District Court consolidated the two shareholder derivative cases before it and on November 20, 2012, the plaintiffs filed their consolidated amended complaint. On January 11, 2013, the defendants filed a motion to dismiss the amended complaint. On September 11, 2013, the Illinois district court judge granted defendants’ motions to dismiss, without prejudice, and gave plaintiffs 28 days to file an amended complaint.  The plaintiffs did not file an amended complaint and the district court matter has been concluded.
	On November 27, 2012, the plaintiff in the shareholder derivative action pending in Illinois state court filed an amended complaint. On January 18, 2013, the defendants filed a motion to dismiss the amended complaint. On July 1, 2013, the Illinois state court judge granted defendants’ motions to dismiss, without prejudice, and gave plaintiffs until July 31, 2013 to file an amended complaint.  On September 9, 2013, the Illinois state court judge granted defendants’ motion to dismiss, with prejudice. On October 9, 2013, the plaintiffs filed a notice of appeal to Illinois state appellate court. The Company believes the state court complaint is without merit and will continue to defend the action vigorously.
	Management is unable to predict the outcome of the remaining lawsuit and the possible loss or range of loss, if any, associated with its resolution or any potential effect the lawsuit may have on the Company’s operations. Depending on the outcome or resolution of the remaining lawsuit, it could have a material effect on the Company’s operations, including its financial condition, results of operations, or cash flows. No amounts have been accrued related to this lawsuit as of September 30, 2013.
	Other Commitments and Contingencies
	All manufacturers of the drug Reglan® and its generic equivalent metoclopramide, including the Company, are facing allegations from plaintiffs in various states claiming bodily injuries as a result of ingestion of metoclopramide or its brand name Reglan® prior to the FDA's February 2009 Black Box warning requirement. The Company has been named and served in 85 separate complaints, including three in Pennsylvania, nine in New Jersey, and 73 in California, covering 2,934 plaintiffs in total. In August 2012, the Company was dismissed with prejudice from all New Jersey cases. Management considers the Company’s exposure to this litigation to be limited due to several factors: (1) the only generic metoclopramide manufactured by the Company prior to the implementation of the FDA's warning requirement was an oral solution introduced after May 28, 2008; (2) the Company’s market share for the oral solution was a very small portion of the overall metoclopramide market; and (3) once the Company received a request for change of labeling from the FDA, it submitted its proposed changes within 30 days, and such changes were subsequently approved by the FDA. At the present time, management is unable to assess the likely outcome of the remaining cases. The Company’s insurance company has assumed the defense of this matter. In addition, the Company’s insurance company renewed the Company’s product liability insurance on September 1, 2011 and 2012 with absolute exclusions for claims related to Reglan® and metoclopramide. Management cannot provide assurances that the outcome of these matters will not have an adverse effect on its business, results of operations, financial condition and cash flow. Furthermore, like all pharmaceutical manufacturers, the Company in the future may be exposed to other product liability claims, which could harm its business, results of operations, financial condition and cash flow.

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2013
FAIR VALUE DISCLOSURES	'
FAIR VALUE DISCLOSURES	'
	11.  FAIR VALUE DISCLOSURES
	Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. US GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value.
	The inputs used in measuring the fair value of cash and cash equivalents are considered to be level 1 in accordance with the three-tier fair value hierarchy. The fair market values are based on period-end statements supplied by the various banks and brokers that held the majority of the Company’s funds. The fair value of short-term financial instruments (primarily accounts receivable, prepaid expenses, accounts payable, accrued expenses, borrowings under line of credit, notes payable, and other current liabilities) approximate their carrying values because of their short-term nature.
	The Company’s CVRs (Note 2) are classified as liabilities and are measured at fair value using level 3 inputs. The fair value of CVRs was estimated using the present value of management’s projection of the expected payments pursuant to the terms of the CVR agreement. The present value of the liability was calculated using a discount rate of 15%. The Company determined that the fair value of the CVRs, and the changes in such fair value, was not material as of September 30, 2013 and for the period from the date of the Merger to September 30, 2013.
	ANIP’s stock purchase warrants were classified as derivative liabilities and were measured at fair value using level 3 inputs. The fair value of stock purchase warrants was determined using a two-step process which included valuing ANIP’s equity using both market and discounted cash flow methods, and then apportioning that value, using an equity allocation model, to each of ANIP’s classes of stock. These models required the use of unobservable inputs such as fair value of the ANIP’s common and preferred stock, expected term, anticipated volatility, future interest and interest rates, expected cash flows and the number of outstanding common and preferred shares as of a future date. The Company determined that the fair value of the ANIP stock purchase warrants as of the date of the Merger, and the changes in such fair value for the period from December 31, 2012 to the date of the Merger, was not material. The ANIP stock purchase warrants were canceled in conjunction with the Merger (Note 2).
	The Company has no other financial assets and liabilities that are measured at fair value. The Company has no nonfinancial assets or liabilities that are measured at fair value on a recurring basis.

DESCRIPTION_OF_BUSINESS_AND_SU1

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2013
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Overview	'
	Overview
	ANI Pharmaceuticals, Inc. (the “Company”) is a specialty pharmaceutical company, developing and marketing generic and branded prescription products. In two facilities located in Baudette, Minnesota, with combined manufacturing, packaging and laboratory capacity totaling 173,000 sq. ft., the Company manufactures oral solid dose products, as well as liquids and topicals, including those that must be manufactured in a fully contained environment due to their potency and/or toxicity. The Company also performs contract manufacturing for other pharmaceutical companies.
	On June 19, 2013, BioSante Pharmaceuticals, Inc. (“BioSante”) acquired ANIP Acquisition Company (“ANIP”) in an all-stock, tax-free reorganization (Note 2), in which ANIP became a wholly-owned subsidiary of BioSante. BioSante was renamed ANI Pharmaceuticals, Inc. The Merger was accounted for as a reverse acquisition pursuant to which ANIP was considered the acquiring entity for accounting purposes. As such, ANIP's historical results of operations replace BioSante's historical results of operations for all periods prior to the Merger. The results of operations of both companies are included in the Company’s financial statements for all periods after completion of the Merger.
	The Company's operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history and uncertainty of future profitability and possible fluctuations in financial results. The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet the Company’s obligations as they become due. Management believes the going-concern basis is appropriate for the accompanying unaudited condensed consolidated financial statements based on its current operating plan through September 30, 2014.
Basis of Presentation	'
	Basis of Presentation
	The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”). In the opinion of management, the accompanying unaudited interim condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly the Company’s financial position, results of operations and cash flows. The condensed consolidated balance sheet at December 31, 2012, has been derived from audited financial statements of that date. The interim condensed consolidated results of operations are not necessarily indicative of the results that may occur for the full fiscal year. Certain information and footnote disclosure normally included in financial statements prepared in accordance with US GAAP have been omitted pursuant to instructions, rules and regulations prescribed by the instructions to Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission. Management believes that the disclosures provided herein are adequate to make the information presented not misleading when these condensed consolidated financial statements are read in conjunction with the audited financial statements and notes previously distributed in the Company’s annual report on Form 10-K for the year ended December 31, 2012 and proxy statement/prospectus filed on May 8, 2013. Certain prior period information has been reclassified to conform to the current period presentation.
Principles of consolidation	'
	Principles of  Consolidation
	The condensed consolidated financial statements include the accounts of ANI Pharmaceuticals, Inc. and its wholly-owned subsidiary, ANIP. All significant inter-company accounts and transactions are eliminated in consolidation
Use of Estimates	'
	Use of Estimates
	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying unaudited condensed consolidated financial statements, estimates are used for, but not limited to, stock-based compensation, allowance for doubtful accounts, accruals for chargebacks, returns and other allowances, allowance for inventory obsolescence, valuation of derivative liabilities, allowances for contingencies and litigation, deferred tax valuation allowance, and the depreciable lives of fixed assets. Actual results could differ from those estimates.
Credit Concentration	'
	Credit Concentration
	The Company’s customers are primarily pharmaceutical companies, wholesale distributors, chain drug stores, and group purchasing organizations.
	During the three month period ended September 30, 2013, two customers represented 27% and 19% of net revenues. During the three month period ended September 30, 2012, these same customers represented 24% and 25% of net revenues, respectively. As of September 30, 2013, accounts receivable from these customers totaled $6,105,271. During the nine month period ended September 30, 2013, four customers represented approximately 28%, 18%, 10%, and 5% of net revenues. During the nine month period ended September 30, 2012, these same four customers represented 24%, 21%, 8%, and 12% of net revenues, respectively.
Vendor Concentration	'
	Vendor Concentration
	During the three month period ended September 30, 2013, the Company purchased approximately 54% of total costs of goods sold from two suppliers. As of September 30, 2013, amounts payable to these suppliers totaled $700,424. During the nine month period ended September 30, 2013, the Company purchased approximately 31% of total costs of goods sold from two suppliers. During the three month period ended September 30, 2012, the Company purchased approximately 43% of total costs of goods sold from two suppliers. During the nine month period ended September 30, 2012, the Company purchased approximately 55% of total costs of goods sold from three suppliers.
Revenue Recognition	'
	Revenue Recognition
	Revenue is recognized for product sales upon passing of risk and title to the customer, when estimates of discounts, rebates, promotional adjustments, price adjustments, returns, chargebacks, and other potential adjustments are reasonably determinable, collection is reasonably assured, and the Company has no further performance obligations. These estimates reduce gross revenues to net revenues in the accompanying unaudited condensed consolidated statements of operations, and are presented as current liabilities or reductions in accounts receivable in the accompanying unaudited condensed consolidated balance sheets.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents
	The Company considers all highly liquid instruments with original maturities of three months or less to be cash equivalents. All interest bearing and non-interest bearing accounts are guaranteed by the FDIC up to $250,000. The Company may maintain cash balances in excess of FDIC coverage. Management considers this to be a normal business risk.
	In conjunction with the Merger, the Company acquired restricted cash, which will be paid out in satisfaction of certain severance liabilities assumed in the Merger (Note 2).
Accounts Receivable	'
	Accounts Receivable
	The Company extends credit to customers on an unsecured basis. The Company uses the allowance method to provide for doubtful accounts based on management’s evaluation of the collectability of accounts receivable, whereby the Company provides an allowance for doubtful accounts equal to the estimated uncollectible amounts. Management’s estimate is based on historical collection experience and a review of the current status of trade accounts receivable. The Company determines trade receivables to be delinquent when they are greater than 30 days past due. Receivables are written off when it is determined that amounts are uncollectible. Management determined that no allowance for doubtful accounts was necessary as of September 30, 2013 and December 31, 2012.
Accruals for Chargebacks, Returns and Other Allowances	'
	Accruals for Chargebacks, Returns and Other Allowances
	The Company’s generic and branded product revenues are typically subject to agreements with customers allowing chargebacks, product returns, administrative fees, and other rebates and prompt payment discounts. The Company accrues for these items at the time of sale and continually monitors and re-evaluates the accruals as additional information becomes available. The Company makes adjustments to the accruals at the end of each reporting period, to reflect any such updates to the relevant facts and circumstances. Accruals are relieved upon receipt of payment from the customer or upon issuance of credit to the customer.
	The following table summarizes activity in the balance sheet for accruals and allowances for the nine month periods ended September 30, 2013 and 2012, respectively:
							Administrative		Prompt
							Fees and Other		Payment
			Chargebacks		Returns		Rebates		Discounts
	Balance at January 1, 2013		$	5,661,974	$	410,992	$	230,575	$	241,840
	Accruals/adjustments			20,132,724		1,154,726		1,435,996		751,993
	Credits taken against reserve			-19,734,545		-1,107,828		-979,404		-667,473
	Balance at September 30, 2013		$	6,060,153	$	457,890	$	687,167	$	326,360
							Administrative		Prompt
							Fees and Other		Payment
			Chargebacks		Returns		Rebates		Discounts
	Balance at January 1, 2012		$	3,680,838	$	252,045	$	238,195	$	166,439
	Accruals/adjustments			15,996,550		486,844		925,488		522,812
	Credits taken against reserve			-15,348,165		-351,274		-892,370		-481,435
	Balance at September 30, 2012		$	4,339,223	$	387,615	$	271,313	$	207,816
Inventories	'
	Inventories
	Inventories consist of raw materials, packaging materials, work-in-progress, and finished goods. Inventories are stated at the lower of cost or net realizable value. The Company values inventory at standard cost. The Company reviews and adjusts standard costs periodically and its inventory, as valued, approximates weighted average cost.
Property and Equipment	'
	Property and Equipment
	Property and equipment are recorded at cost. Expenditures for repairs and maintenance are charged to expense as incurred. Depreciation is recorded on a straight-line basis over estimated useful lives as follows:
		Buildings and improvements	20-40 years
		Machinery, furniture and equipment	3-10 years
	Construction in progress includes the cost of construction and other direct costs attributable to the construction, along with capitalized interest, if any. Depreciation is not recorded on construction in progress until such time as the assets are placed in service. During the nine month period ended September 30, 2013 and the year ended December 31, 2012, there was no material interest capitalized into construction in progress.
	Depreciation expense for the three month periods ended September 30, 2013 and 2012 totaled $133,972 and $131,459, respectively. Depreciation expense for the nine month periods ended September 30, 2013 and 2012 totaled $400,101 and $387,738, respectively.
	Management reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of the long-lived asset is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Assets held for disposal are reportable at the lower of the carrying amount or fair value, less costs to sell. Management determined that no assets were impaired and no assets were held for disposal as of September 30, 2013 and December 31, 2012.
Income Taxes	'
	Income Taxes
	The Company uses the asset and liability method of accounting for income taxes. Deferred tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that are expected to be in effect when the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that such tax rate changes are enacted. The measurement of a deferred tax asset is reduced, if necessary, by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized. For interim periods, the Company recognizes an income tax provision (benefit) based on its estimated annual effective tax rate expected for the entire year.
	Management uses a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return, as well as guidance on derecognition, classification, interest and penalties and financial statement reporting disclosures. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company has not identified any uncertain income tax positions that could have a material impact on the financial statements. The Company is subject to taxation in various jurisdictions and remains subject to examination by taxing jurisdictions for the years 1998 and all subsequent periods due to the availability of net operating loss carryforwards.
	The Company recognizes interest and penalties accrued on any unrecognized tax exposures as a component of income tax expense. The Company did not have any amounts accrued relating to interest and penalties as of September 30, 2013 and December 31, 2012.
	The Company considers potential tax effects resulting from discontinued operations and records intra-period tax allocations, when those effects are deemed material.
Income (Loss) per Share	'
	Income/(Loss) per Share
	Basic income/(loss) per share is calculated by dividing net income/(loss) less preferred stock dividends by the weighted-average number of shares of common stock outstanding during the period.
	For periods of net income, and when the effects are not anti-dilutive, diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding plus the impact of all potential dilutive common shares, consisting primarily of stock purchase warrants and common stock options, using the treasury stock method.
	For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses.
	The number of anti-dilutive shares, consisting of Class C Special stock, common stock options, and warrants exercisable for common stock (and prior to the Merger, warrants exercisable for preferred stock, convertible debt, and convertible preferred stock), which have been excluded from the computation of diluted income/(loss) per share for the three month periods ended September 30, 2013 and 2012, were 909,792 and 242,247, respectively. The number of anti-dilutive shares, consisting of Class C Special stock, common stock options, and warrants exercisable for common stock, (and prior to the Merger, warrants exercisable for preferred stock, convertible debt, and convertible preferred stock), which have been excluded from the computation of diluted income/(loss) per share for the nine month periods ended September 30, 2013 and 2012, were 498,647 and 115,351, respectively.
	As of September 30, 2013, the Company had 120,066 common stock options and 781,349 warrants exercisable for common stock outstanding.
Stock Splits and Reclassifications	'
	Stock Splits
	In July 2013, the Company's Board of Directors and stockholders approved a resolution to effect a one-for-six reverse stock split of the Company's common stock and Class C Special stock with no corresponding change to the par value. The number of authorized shares of common stock, Class C Special stock and blank check preferred stock was reduced proportionally. Common stock and Class C Special share numbers for all periods presented have been adjusted retrospectively to reflect the one-for-six reverse stock split.
Redeemable Preferred Stock	'
	Redeemable Convertible Preferred Stock
	The carrying value of the Company’s redeemable convertible preferred stock was increased by the accretion of any related discounts and accrued but unpaid dividends so that the carrying amount would equal the redemption amount at the dates the stock became redeemable. The Company’s Series A, B, C and D preferred stock was redeemable at the option of the holders, subject to certain additional requirements. All of the Company’s Series D preferred stock was exchanged for shares of BioSante common stock and all of the Company’s Series A, B and C preferred stock were canceled in conjunction with the Merger (Note 2).
Segment Information	'
	Segment Information
	The Company currently operates in a single business segment.
Recent Accounting Pronouncements	'
	Recent Accounting Pronouncements
	The Company has evaluated all issued and unadopted Accounting Standards Updates and believes the adoption of these standards will not have a material impact on its results of operations, financial position, or cash flows.

DESCRIPTION_OF_BUSINESS_AND_SU2

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2013
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Schedule of Valuation and Qualifying Accounts Disclosure	'
	The following table summarizes activity in the balance sheet for accruals and allowances for the nine month periods ended September 30, 2013 and 2012, respectively:
						Administrative		Prompt
						Fees and Other		Payment
		Chargebacks		Returns		Rebates		Discounts
	Balance at January 1, 2013	$	5,661,974	$	410,992	$	230,575	$	241,840
	Accruals/adjustments		20,132,724		1,154,726		1,435,996		751,993
	Credits taken against reserve		-19,734,545		-1,107,828		-979,404		-667,473
	Balance at September 30, 2013	$	6,060,153	$	457,890	$	687,167	$	326,360
						Administrative		Prompt
						Fees and Other		Payment
		Chargebacks		Returns		Rebates		Discounts
	Balance at January 1, 2012	$	3,680,838	$	252,045	$	238,195	$	166,439
	Accruals/adjustments		15,996,550		486,844		925,488		522,812
	Credits taken against reserve		-15,348,165		-351,274		-892,370		-481,435
	Balance at September 30, 2012	$	4,339,223	$	387,615	$	271,313	$	207,816

BUSINESS_COMBINATION_Tables

BUSINESS COMBINATION (Tables)	9 Months Ended
	Sep. 30, 2013
BUSINESS COMBINATION	'
Business Combination Transaction Costs	'
	Costs incurred through September 30, 2013, include:
	Category
	Legal fees	$	1,226,535
	Accounting fees		121,748
	Consulting fees		119,194
	Monitoring and advisory fees		390,000
	Transaction bonuses		4,801,364
	Other		428,992
	Total transaction costs	$	7,087,833
Business Combination Purchase Price Allocation	'
	The following presents the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed on June 19, 2013:
	Fair value of BioSante shares outstanding	$	29,795,133
	Estimated fair value of vested BioSante stock options		-
	Total purchase consideration	$	29,795,133
	Assets acquired
	Cash and cash equivalents	$	18,197,442
	Restricted cash		2,260,100
	Teva license intangible asset		10,900,000
	Other tangible assets		79,261
	Deferred tax assets, net		-
	Goodwill		1,838,309
	Total assets		33,275,112
	Liabilities assumed
	Accrued severance		2,964,962
	Other liabilities		515,017
	Total liabilities		3,479,979
	Total net assets acquired	$	29,795,133
Business Acquisition, Pro Forma Information	'
	The pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the Merger had occurred as of January 1, 2012 or that may be obtained in the future.
		Three months ended September 30,				Nine months ended September 30,
		2013		2012		2013		2012
	Net revenues	$	7,836,222	$	5,146,407	$	19,694,710	$	15,382,782
	Net income/(loss)	$	1,691,720	$	-6,246,057	$	-3,178,713	$	-23,066,678

ACCOUNTS_RECEIVABLE_Tables

ACCOUNTS RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2013
ACCOUNTS RECEIVABLE	'
Schedule of Accounts, Notes, Loans and Financing Receivable	'
	Accounts receivable consist of the following as of:
		September 30,		December 31,
		2013		2012
	Accounts receivable, gross	$	16,568,775	$	11,556,510
	Adjustments for chargebacks and other allowances		-7,053,679		-6,124,109
	Accounts receivable, net	$	9,515,096	$	5,432,401

INVENTORIES_Tables

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2013
INVENTORIES	'
Schedule of Inventory, Current	'
	Inventories consist of the following as of:
		September 30,		December 31,
		2013		2012
	Raw materials	$	1,407,457	$	974,967
	Packaging materials		650,058		584,654
	Work-in-progress		171,464		374,257
	Finished goods		664,180		890,683
			2,893,159		2,824,561
	Reserve for excess/obsolete inventories		-83,999		-14,876
	Inventories, net	$	2,809,160	$	2,809,685

GOODWILL_AND_INTANGIBLE_ASSETS1

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2013
GOODWILL AND INTANGIBLE ASSETS	'
Schedule of Intangible Assets and Goodwill	'
	The components of net intangible assets are as follows:
		September 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		-247,727		-		-	11 years
		$	11,060,000	$	-347,727	$	160,000	$	-75,000
Finite-lived Intangible Assets Amortization Expense	'
	Expected future amortization expense is as follows:
	2013 (remainder of year)	$	247,728
	2014		997,577
	2015		1,010,910
	2016		1,010,910
	2017		1,004,243
	2018 and thereafter		6,440,905
	Total	$	10,712,273

DESCRIPTION_OF_BUSINESS_AND_SU3

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
			Chargebacks	Chargebacks	Returns	Returns	Administrative Fees And Other Rebates	Administrative Fees And Other Rebates	Prompt Payment Discounts	Prompt Payment Discounts
Valuation and Qualifying Accounts Disclosure	'	'	'	'	'	'	'	'	'	'
Balance, Beginning balance	$7,053,679	$6,124,109	$5,661,974	$3,680,838	$410,992	$252,045	$230,575	$238,195	$241,840	$166,439
Accruals/adjustments	'	'	20,132,724	15,996,550	1,154,726	486,844	1,435,996	925,488	751,993	522,812
Credits taken against reserve	'	'	-19,734,545	-15,348,165	-1,107,828	-351,274	-979,404	-892,370	-667,473	-481,435
Balance, Ending balance	$7,053,679	$6,124,109	$6,060,153	$4,339,223	$457,890	$387,615	$687,167	$271,313	$326,360	$207,816

DESCRIPTION_OF_BUSINESS_AND_SU4

DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Accounts Receivable, Net, Current, Total	$9,515,096	'	$9,515,096	'	$5,432,401
Accounts Payable, Current	2,086,847	'	2,086,847	'	1,993,567
Depreciation	133,972	131,459	400,101	387,738	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	909,792	242,247	498,647	115,351	'
Reverse Stock Split Ratio Description	'	'	'one-for-six	'	'
FDIC Guaranteed Amount	250,000	'	250,000	'	'
Employee Stock Option [Member]	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance	120,066	'	120,066	'	'
Warrant [Member]	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Beginning Balance	781,349	'	781,349	'	'
Three Suppliers	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	'	'	'	55.00%	'
Two Suppliers 2012	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	'	43.00%	'	'	'
Two Suppliers 2013	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	54.00%	'	31.00%	'	'
Accounts Payable, Current	700,424	'	700,424	'	'
Maximum | Building and Building Improvements	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'40 years	'	'
Maximum | Machinery, Furniture And Equipment	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'10 years	'	'
Minimum | Building and Building Improvements	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'20 years	'	'
Minimum | Machinery, Furniture And Equipment	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Property, Plant and Equipment, Useful Life	'	'	'3 years	'	'
Two Customers	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Accounts Receivable, Net, Current, Total	$6,105,271	'	$6,105,271	'	'
Customer One	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	27.00%	24.00%	28.00%	24.00%	'
Customer Two	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	19.00%	25.00%	18.00%	21.00%	'
Customer Three	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	'	'	10.00%	8.00%	'
Customer Four	'	'	'	'	'
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'	'	'	'	'
Concentration Risk, Percentage	'	'	5.00%	12.00%	'

BUSINESS_COMBINATION_Details

BUSINESS COMBINATION (Details) (USD $)	Sep. 30, 2013
Legal fees	$1,226,535
Accounting fees	121,748
Consulting fees	119,194
Monitoring and advisory fees	390,000
Transaction bonuses	4,801,364
Other	428,992
Total transaction costs	$7,087,833

BUSINESS_COMBINATION_Details_2

BUSINESS COMBINATION (Details 2) (USD $)	Jun. 19, 2013
Fair value of BioSante shares outstanding	$29,795,133
Estimated fair value of vested BioSante stock options	0
Total purchase consideration	29,795,133
Assets acquired	'
Cash and cash equivalents	18,197,442
Restricted cash	2,260,100
Teva license intangible asset	10,900,000
Other tangible assets	79,261
Deferred tax assets, net	0
Goodwill	1,838,309
Total assets	33,275,112
Liabilities assumed	'
Accrued severance	2,964,962
Other liabilities	515,017
Total liabilities	3,479,979
Total net assets acquired	$29,795,133

BUSINESS_COMBINATION_Details_3

BUSINESS COMBINATION (Details 3) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net revenues	$7,836,222	$5,146,407	$19,694,710	$15,382,782
Net income/(loss)	$1,691,720	($6,246,057)	($3,178,713)	($23,066,678)

BUSINESS_COMBINATION_Details_4

BUSINESS COMBINATION (Details 4) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2013	Dec. 31, 2012	Jun. 19, 2013
Business Combination, Acquisition Related Costs	$6,159,138	$928,695	'
Share Price	'	'	$1.22
Teva License Intangible Asset [Member]	'	'	'
Finite-Lived Intangible Asset, Useful Life	'11 years	'	'
BioSante Pharmaceuticals Inc [Member]	'	'	'
Business Acquisition, Percentage of Voting Interests Acquired	'	'	43.00%
ANIP Acquisition Company [Member]	'	'	'
Business Acquisition, Percentage of Voting Interests Acquired	'	'	57.00%

ACCOUNTS_RECEIVABLE_Details

ACCOUNTS RECEIVABLE (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable	'	'
Accounts receivable, gross	$16,568,775	$11,556,510
Adjustments for chargebacks and other allowances	-7,053,679	-6,124,109
Accounts receivable, net	$9,515,096	$5,432,401

INVENTORIES_Details

INVENTORIES (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Inventories	'	'
Raw materials	$1,407,457	$974,967
Packaging materials	650,058	584,654
Work-in-progress	171,464	374,257
Finished goods	664,180	890,683
Inventory, Gross, Total	2,893,159	2,824,561
Reserve for excess/obsolete inventories	-83,999	-14,876
Inventories, net	$2,809,160	$2,809,685

GOODWILL_AND_INTANGIBLE_ASSETS2

GOODWILL AND INTANGIBLE ASSETS (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Dec. 31, 2012
GOODWILL AND INTANGIBLE ASSETS	'	'
Finite-Lived Intangible Assets, Gross	$11,060,000	$160,000
Finite-Lived Intangible Assets, Accumulated Amortization	-347,727	-75,000
Acquired ANDA Intangible Asset	'	'
GOODWILL AND INTANGIBLE ASSETS	'	'
Finite-Lived Intangible Assets, Gross	60,000	60,000
Finite-Lived Intangible Assets, Accumulated Amortization	0	0
Amortization period	'3 years	'
Reglan Intangible Asset	'	'
GOODWILL AND INTANGIBLE ASSETS	'	'
Finite-Lived Intangible Assets, Gross	100,000	100,000
Finite-Lived Intangible Assets, Accumulated Amortization	-100,000	-75,000
Amortization period	'2 years	'
Teva License Intangible Asset	'	'
GOODWILL AND INTANGIBLE ASSETS	'	'
Finite-Lived Intangible Assets, Gross	10,900,000	0
Finite-Lived Intangible Assets, Accumulated Amortization	($247,727)	$0
Amortization period	'11 years	'

GOODWILL_AND_INTANGIBLE_ASSETS3

GOODWILL AND INTANGIBLE ASSETS (Details 2) (USD $)	Sep. 30, 2013
GOODWILL AND INTANGIBLE ASSETS	'
2013 (remainder of year)	$247,728
2014	997,577
2015	1,010,910
2016	1,010,910
2017	1,004,243
2018 and thereafter	6,440,905
Total	$10,712,273

GOODWILL_AND_INTANGIBLE_ASSETS4

GOODWILL AND INTANGIBLE ASSETS (Details 3) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
GOODWILL AND INTANGIBLE ASSETS	'	'	'	'
Amortization of Intangible Assets	$247,727	$12,500	$272,727	$37,500
Goodwill, Acquired During Period	'	'	$1,838,309	$0

DISCONTINUED_OPERATION_Details

DISCONTINUED OPERATION (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
DISCONTINUED OPERATION	'	'	'	'	'
Liabilities of Disposal Group, Including Discontinued Operation	$131,613	'	$131,613	'	$370,766
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Total	150,337	1,617	150,337	67,793	'
Discontinued Operation, Tax Effect of Income (Loss) from Disposal of Discontinued Operation	$82,852	$866	$82,852	$36,327	'

LINE_OF_CREDIT_Details

LINE OF CREDIT (Details) (USD $)	1 Months Ended		9 Months Ended
	Jun. 30, 2012	Oct. 31, 2011	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Line of Credit Facility	'	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	$5,000,000	$3,500,000	'	'	$6,000,000
Line of Credit Facility, Interest Rate Description	'The revolver loan agreement bore interest daily at the greater of (i) LIBOR plus 5%, or (ii) 6%, and was secured by substantially all of the Companys assets.	'Base Rate, as defined, plus 6.0%	'	'	'
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.38%	0.75%	'	'	'
Line Of Credit Facility Management Fee	18,000	9,000	'	'	'
Line of Credit Facility, Covenant Terms	'	'	'Beginning in 2013, the Company was required to maintain a minimum fixed charge coverage ratio of 1.1 to 1.0. Also beginning in 2013, the Company was required to generate at least $225,000 in EBITDA during the three month period ending March 31, 2013, $450,000 in EBITDA during the six month period ending June 30, 2013, $675,000 in EBITDA during the nine month period ending September 30, 2013, and $900,000 in EBITDA for the year ended December 31, 2013 and for every quarterly period thereafter measured on a trailing four-quarter basis. Restrictive covenants applied to, among other things, additional liens, mergers or consolidations, and sales of assets.	'Under the agreement, the Company was required to maintain a minimum fixed charge coverage ratio of 1.1 to 1.0, calculated by dividing (a) (i) earnings before interest, taxes, depreciation and amortization (EBITDA) less (ii) unfinanced capital expenditures, by the sum of cash paid for (b) (i) interest and (ii) monitoring and advisory fees (Note 10). Also, the Company was required to generate at least $800,000 in EBITDA measured on a trailing four-quarter basis. Restrictive covenants applied to, among other things, research and development expenditures, additional liens, mergers or consolidations, and sales of assets.	'
Line Of Credit Facility, Termination Fee In First Year	'	'	180,000	'	'
Line Of Credit Facility, Termination Fee In Second Year	'	'	120,000	'	'
Line Of Credit Facility, Termination Fee After Second Year	'	'	60,000	'	'
Line of Credit Facility, Amount Outstanding	'	'	$0	'	$4,065,307
Line of Credit Facility, Interest Rate at Period End	'	'	'	'	6.00%

STOCKBASED_COMPENSATION_Detail

STOCK-BASED COMPENSATION (Details) (USD $)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
Warrant [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Expirations	'	8,333
2008 Plan [Member]	'	'
Share-based Compensation Arrangement by Share-based Payment Award	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	185,490	185,490
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total	'	67,093
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	326,424	326,424
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	20,832	20,832
Allocated Share-based Compensation Expense, Total	$2,951	$2,951

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
COMMITMENTS AND CONTINGENCIES	'	'	'	'
Operating Leases, Future Minimum Payments Due, Total	$478,169	'	$478,169	'
Operating Leases, Rent Expense	11,324	2,356	25,721	6,987
Monitoring And Advisory Fee In Conjunction With Business Combination	'	'	390,000	'
Monitoring And Advisory Fee	0	50,000	483,956	150,000
Unapproved Generic Products	'	'	'	'
COMMITMENTS AND CONTINGENCIES	'	'	'	'
Revenue, Net	4,418,166	1,634,542	7,704,753	4,298,629
Unapproved Generic Products | Contract Customer	'	'	'	'
COMMITMENTS AND CONTINGENCIES	'	'	'	'
Revenue, Net	468,717	370,695	1,692,921	774,653
Royalty Revenue, Total	$134,745	$88,502	$320,018	$219,926

FAIR_VALUE_DISCLOSURES_Details

FAIR VALUE DISCLOSURES (Details)	9 Months Ended
	Sep. 30, 2013
Fair Value Inputs, Assets, Quantitative Information	'
Fair Value Inputs, Discount Rate	15.00%