Intangible Assets

3 Months Ended

Sep. 30, 2014

Intangible Assets

Intangible Assets

Note 9.  Intangible Assets

Intangible assets, net as of September 30, 2014 and June 30, 2014, consisted of the following:

	Gross Carrying Amount				Accumulated Amortization						Intangible Assets, Net
(In thousands)	September 30, 2014		June 30, 2014		September 30, 2014			June 30, 2014			September 30, 2014		June 30, 2014
Cody Labs Import License	$	582	$	582	$	(241	)	$	(232	)	$	341	$	350
Morphine Sulfate Oral Solution NDA	202		202		(68		)	(65		)	134		137
Other ANDA Product Rights	900		600		(168		)	(160		)	732		440
	$	1,684	$	1,384	$	(477	)	$	(457	)	$	1,207	$	927

For the three months ended September 30, 2014 and 2013, the Company incurred amortization expense of approximately $20 thousand and $470 thousand, respectively.  There were no impairments related to intangible assets during each of the three months ended September 30, 2014 and 2013.

Future annual amortization expense consisted of the following as of September 30, 2014:

(In thousands) Fiscal Year Ending June 30,	Annual Amortization Expense
2015	$	61
2016	82
2017	82
2018	82
2019	79
Thereafter	372
	$	758

The amounts above do not include the product line covered by the ANDA purchased in August 2009 for $149 thousand and ANDAs purchased in September 2014 for $300 thousand.  Amortization on these assets will begin when the Company begins shipping the product.