CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Jun. 30, 2011
Current Assets
Cash and cash equivalents	$ 22,562	$ 5,277
Investment securities	6,667	19,382
Trade accounts receivable (net of allowance of $124 and $124, respectively)	42,215	33,464
Inventories, net	27,064	26,903
Income taxes receivable	2,120	3,636
Deferred tax assets	4,833	4,538
Other current assets	1,020	942
Total Current Assets	106,481	94,142
Property, plant and equipment, net	34,909	29,929
Construction in progress	2,159	5,761
Intangible assets (product rights), net	4,429	5,910
Deferred tax assets	9,069	10,446
Other assets	1,171	1,556
TOTAL ASSETS	158,218	147,744
Current Liabilities
Accounts payable	17,989	18,378
Accrued expenses	1,572	1,354
Accrued payroll and payroll related	3,144	935
Current portion of long-term debt	648	629
Rebates, chargebacks and returns payable	17,039	13,564
Total Current Liabilities	40,392	34,860
Long-term debt, less current portion	6,513	7,193
Other long-term liabilities		2
TOTAL LIABILITIES	46,905	42,055
Commitment and Contingencies, See Notes 13 and 14
SHAREHOLDERS' EQUITY
Common stock - authorized 50,000,000 shares, par value per share $0.001; issued, 28,594,437 and 28,403,946 shares, respectively; outstanding, 28,252,192 and 28,247,335 shares, respectively	29	28
Additional paid in capital	99,515	97,082
Retained earnings	13,236	9,288
Accumulated other comprehensive income (loss)	(63)	24
Treasury stock at cost - 342,245 and 156,611 shares, respectively	(1,594)	(872)
Total Shareholders' Equity Attributable to Lannett Company, Inc.	111,123	105,550
Noncontrolling Interest	190	139
Total Shareholders' Equity	111,313	105,689
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 158,218	$ 147,744