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

For the three months ended September 30, 2012

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Reserve Category

 

Chargebacks

 

Rebates

 

Returns

 

Other

 

Total

 

Reserve Balance as of July 1, 2012

 

$

7,063

 

$

4,436

 

$

5,540

 

$

 

$

17,039

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in prior fiscal years

 

(6,504

)

(3,743

)

(875

)

(55

)

(11,177

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserves or (reversals) charged during Fiscal 2013 related to sales in prior fiscal years

 

(372

)

105

 

 

55

 

(212

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserves charged to net sales during Fiscal 2013 related to sales recorded in Fiscal 2013

 

19,350

 

5,675

 

1,405

 

139

 

26,569

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2013

 

(11,490

)

(2,277

)

 

(139

)

(13,906

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of September 30, 2012

 

$

8,047

 

$

4,196

 

$

6,070

 

$

 

$

18,313

 

 

For the three months ended September 30, 2011

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Reserve Category

 

Chargebacks

 

Rebates

 

Returns

 

Other

 

Total

 

Reserve Balance as of July 1, 2011

 

$

5,497

 

$

2,925

 

$

5,142

 

$

 

$

13,564

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in prior fiscal years

 

(5,262

)

(2,686

)

(1,412

)

(92

)

(9,452

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

(36

)

72

 

 

92

 

128

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

17,477

 

4,358

 

1,337

 

202

 

23,374

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2012

 

(11,119

)

(1,943

)

 

(202

)

(13,264

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of September 30, 2011

 

$

6,557

 

$

2,726

 

$

5,067

 

$

 

$

14,350

 

 

Summary of the activity of reserves for each of the major category of revenue allowance

 

 

 

September 30,

 

June 30,

 

(In thousands)

 

2012

 

%

 

2012

 

%

 

Chargeback reserve

 

$

8,047

 

44

%

$

7,063

 

41

%

Rebate reserve

 

4,196

 

23

%

4,436

 

26

%

Return reserve

 

6,070

 

33

%

5,540

 

33

%

Other reserve

 

 

%

 

%

 

 

$

18,313

 

100

%

$

17,039

 

100

%

Summary of net product sales by medical indication

 

(In thousands)

 

For the Three Months Ended September 30,

 

Medical Indication

 

2012

 

2011

 

 

 

 

 

 

 

Migraine Headache

 

$

1,249

 

$

1,612

 

Glaucoma

 

1,373

 

1,032

 

Gallstone Prevention

 

1,578

 

1,300

 

Cardiovascular

 

7,100

 

2,510

 

Thyroid Deficiency

 

13,637

 

13,034

 

Antibiotic

 

1,689

 

1,679

 

Pain Management

 

5,532

 

5,310

 

Obesity

 

1,310

 

547

 

Other

 

1,826

 

1,854

 

 

 

 

 

 

 

Total

 

$

35,294

 

$

28,878

 

 

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

 

2012

 

2011

 

 

 

 

 

 

 

Product 1

 

39

%

45

%

Product 2

 

10

%

9

%

Product 3

 

10

%

 

Product 4

 

8

%

12

%

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

 

 

 

2012

 

2011

 

 

 

 

 

 

 

Customer A

 

17

%

21

%

Customer B

 

11

%

12

%

Customer C

 

10

%

9

%

Customer D

 

10

%

11

%