WILMINGTON,aaiPharma is selling what it called its “pharmaceuticals assets” to Xanodyne Pharmaceuticals for $170 million and other considerations.

The financially troubled company filed formally for Chapter 11 bankruptcy protection on May 10.

The sale of the pharmaceutical division had been previously announced. The name of the buyer and terms were disclosed in an SEC filing on Thursday.

The deal includes “substantially all currently marketed pharmaceutical products (including the inventory of such products); the rights to three ‘pipeline’ products, the option to purchase certain products being developed or which may be developed in the future by the Company, concerning certain compounds, and a 50% interest in an additional pipeline product,” aaiPharma said in the filing.

Xanodyne also agreed to contract for a variety of services from aaiPharma.

Xanodyne is based in Florence KY.

aaiPharma: www.aaiPharma.com