NovaDel Pharma Reports Resolution Of Contingent Liabilities

BRIDGEWATER, N.J.--(BUSINESS WIRE)--As previously reported, NovaDel Pharma Inc. sold its ZolpiMist® assets to Amherst Pharmaceuticals, Inc. principally in exchange for the assumption of Novadel’s FDA liabilities of approximately $2.2 million.

Regrettably, it has taken over a year for Amherst to reach a payment plan agreement with the FDA for this liability. During this period, Novadel has been contingently liable for these outstanding liabilities. As a result of a February 1, 2016 agreed payment plan between the FDA and Amherst, Novadel’s contingent liability for these payments has been negated.

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