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Related Party Transactions
12 Months Ended
Jun. 30, 2013
Related Party Transactions  
Related Party Transactions

Note 19.  Related Party Transactions

 

The Company had sales of $1.3 million, $757 thousand and $876 thousand during the fiscal years ended June 30, 2013, 2012, and 2011, respectively, to a generic distributor, Auburn Pharmaceutical Company (“Auburn”).  Jeffrey Farber, Chairman of the Board and the son of William Farber, Chairman Emeritus of the Board of Directors and principal stockholder of the Company, is the owner of Auburn.  Accounts receivable includes amounts due from Auburn of $200 thousand and $234 thousand at June 30, 2013 and 2012, respectively.  In the Company’s opinion, the terms of these transactions were not more favorable to Auburn than would have been to a non-related party.