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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 30, 2012
Summary of Significant Accounting Policies  
Summary of the activity of each major category of revenue allowance

 

 

For the Year Ended June 30, 2012

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Reserve Category

 

Chargebacks

 

Rebates

 

Returns

 

Other

 

Total

 

Reserve Balance as of June 30, 2011

 

$

5,497

 

$

2,925

 

$

5,142

 

$

 

$

13,564

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in prior fiscal years

 

(5,354

)

(3,084

)

(4,294

)

(152

)

(12,884

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserves or (reversals) charged during Fiscal 2012 related to sales in prior fiscal years

 

(143

)

159

 

 

152

 

168

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserves charged to net sales during Fiscal 2012 related to sales recorded in Fiscal 2012

 

68,576

 

21,019

 

4,692

 

1,981

 

96,268

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2012

 

(61,513

)

(16,583

)

 

(1,981

)

(80,077

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of June 30, 2012

 

$

7,063

 

$

4,436

 

$

5,540

 

$

 

$

17,039

 

 

For the Year Ended June 30, 2011

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Reserve Category 

 

Chargebacks

 

Rebates

 

Returns

 

Other

 

Total

 

Reserve Balance as of June 30, 2010

 

$

6,282

 

$

3,566

 

$

5,401

 

$

 

$

15,249

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in prior fiscal years

 

(6,100

)

(3,947

)

(4,592

)

 

(14,639

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserves or (reversals) charged during Fiscal 2011 related to sales in prior fiscal years

 

 

381

 

 

 

381

 

 

 

 

 

 

 

 

 

 

 

 

 

Reserves charged to net sales during Fiscal 2011 related to sales recorded in Fiscal 2011

 

53,687

 

16,587

 

6,715

 

3,502

 

80,491

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2011

 

(48,372

)

(13,662

)

(2,382

)

(3,502

)

(67,918

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of June 30, 2011

 

$

5,497

 

$

2,925

 

$

5,142

 

$

 

$

13,564

 

 

For the Year Ended June 30, 2010

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Reserve Category 

 

Chargebacks

 

Rebates

 

Returns

 

Other

 

Total

 

Reserve Balance as of June 30, 2009

 

$

6,090

 

$

2,538

 

$

5,107

 

$

 

$

13,735

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in prior fiscal years

 

(6,069

)

(2,538

)

(3,833

)

 

(12,440

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserves or (reversals) charged during Fiscal 2010 related to sales in prior fiscal years

 

 

 

(401

)

 

(401

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserves charged to net sales during Fiscal 2010 related to sales recorded in Fiscal 2010

 

48,539

 

16,353

 

4,528

 

1,227

 

70,647

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2010

 

(42,278

)

(12,787

)

 

(1,227

)

(56,292

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of June 30, 2010

 

$

6,282

 

$

3,566

 

$

5,401

 

$

 

$

15,249

 

Summary of net product sales by medical indication

 

 

(In thousands)

 

For the Fiscal Year Ended June 30,

 

Medical Indication

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Migraine Headache

 

$

5,971

 

$

8,654

 

$

9,855

 

Glaucoma

 

4,252

 

3,118

 

2,025

 

Gallstone Prevention

 

5,991

 

5,370

 

2,190

 

Prescription Vitamin

 

 

1,838

 

5,640

 

Cardiovascular

 

18,142

 

12,553

 

20,996

 

Thyroid Deficiency

 

50,849

 

47,051

 

52,225

 

Antibiotic

 

6,724

 

6,101

 

6,449

 

Pain Management

 

20,870

 

14,747

 

14,129

 

Obesity

 

3,755

 

3,164

 

3,612

 

Other

 

6,436

 

4,239

 

8,057

 

 

 

 

 

 

 

 

 

Total

 

$

122,990

 

$

106,835

 

$

125,178

 

Summary of certain of the Company's products which accounted for greater than 10% of net sales

 

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Product 1

 

41

%

44

%

42

%

Product 2

 

9

%

12

%

17

%

 

Summary of certain of the Company's customers which accounted for greater than 10% of net sales

 

 

 

 

2012

 

2011

 

2010

 

 

 

 

 

 

 

 

 

Customer A

 

18

%

17

%

26

%

Customer B

 

12

%

6

%

7

%

Customer C

 

11

%

10

%

11

%