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Summary of Significant Accounting Policies (Tables)
6 Months Ended
Dec. 31, 2012
Summary of Significant Accounting Policies  
Summary of the activity of each major category of revenue allowance

 

 

For the six months ended December 31, 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

 

(6,584

)

(4,000

)

(1,644

)

(61

)

(12,289

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

(461

)

131

 

 

61

 

(269

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

37,235

 

11,951

 

2,456

 

1,250

 

52,892

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2013

 

(29,176

)

(7,986

)

 

(1,250

)

(38,412

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of December 31, 2012

 

$

8,077

 

$

4,532

 

$

6,352

 

$

 

$

18,961

 

 

For the six months ended December 31, 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

 

(5,213

)

(2,985

)

(2,469

)

(133

)

(10,800

)

 

 

 

 

 

 

 

 

 

 

 

 

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

 

(62

)

255

 

 

133

 

326

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

34,292

 

10,211

 

2,444

 

356

 

47,303

 

 

 

 

 

 

 

 

 

 

 

 

 

Actual credits issued related to sales recorded in Fiscal 2012

 

(27,488

)

(5,663

)

 

(356

)

(33,507

)

 

 

 

 

 

 

 

 

 

 

 

 

Reserve Balance as of December 31, 2011

 

$

7,026

 

$

4,743

 

$

5,117

 

$

 

$

16,886

 

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

 

 

 

 

December 31, 2012

 

June 30, 2012

 

(In thousands)

 

$

 

%

 

$

 

%

 

Chargeback reserve

 

$

8,077

 

43

%

$

7,063

 

41

%

Rebate reserve

 

4,532

 

24

%

4,436

 

26

%

Return reserve

 

6,352

 

33

%

5,540

 

33

%

Other reserve

 

 

%

 

%

 

 

$

18,961

 

100

%

$

17,039

 

100

%

Summary of net product sales by medical indication

 

 

(In thousands)

 

For the Three Months Ended
December 31,

 

For the Six Months Ended
December 31,

 

Medical Indication

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Migraine Headache

 

$

1,447

 

$

1,547

 

$

2,696

 

$

3,159

 

Glaucoma

 

1,608

 

1,068

 

2,981

 

2,100

 

Gallstone Prevention

 

1,708

 

1,567

 

3,286

 

2,867

 

Cardiovascular

 

7,269

 

2,952

 

14,369

 

5,462

 

Thyroid Deficiency

 

14,474

 

11,211

 

28,111

 

24,246

 

Antibiotic

 

1,082

 

1,457

 

2,771

 

3,136

 

Pain Management

 

4,240

 

5,257

 

9,772

 

10,566

 

Obesity

 

1,104

 

1,044

 

2,414

 

1,591

 

Other

 

3,632

 

1,631

 

5,458

 

3,485

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

36,564

 

$

27,734

 

$

71,858

 

$

56,612

 

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

 

 

 

 

For the Three Months Ended
December 31,

 

For the Six Months Ended
December 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Product 1

 

40

%

40

%

39

%

43

%

Product 2

 

12

%

1

%

11

%

1

%

Product 3

 

10

%

8

%

9

%

10

%

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

 

 

 

 

For the Three Months Ended
December 31,

 

For the Six Months Ended
December 31,

 

 

 

2012

 

2011

 

2012

 

2011

 

 

 

 

 

 

 

 

 

 

 

Customer A

 

16

%

17

%

17

%

19

%

Customer B

 

13

%

11

%

12

%

11

%

Customer C

 

10

%

19

%

10

%

15

%