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Related Party Transactions
12 Months Ended
Jun. 30, 2014
Related Party Transactions  
Related Party Transactions

Note 18.  Related Party Transactions

 

The Company had sales of $2.3 million, $1.3 million and $757 thousand during the fiscal years ended June 30, 2014, 2013, and 2012, 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 and principal stockholder of the Company, is the owner of Auburn.  Accounts receivable includes amounts due from Auburn of $980 thousand and $200 thousand at June 30, 2014 and 2013, 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.