Intangible Assets

6 Months Ended

Dec. 31, 2014

Intangible Assets

Intangible Assets

Note 9.  Intangible Assets

Intangible assets, net as of December 31, 2014 and June 30, 2014, consisted of the following:

	Gross Carrying Amount				Accumulated Amortization						Intangible Assets, Net
(In thousands)	December 31, 2014		June 30, 2014		December 31, 2014			June 30, 2014			December 31, 2014		June 30, 2014
Cody Labs Import License	582		582		(251		)	(232		)	331		350
Morphine Sulfate Oral Solution NDA	202		202		(71		)	(65		)	131		137
Other ANDA Product Rights	900		600		(176		)	(160		)	724		440
	$	1,684	$	1,384	$	(498	)	$	(457	)	$	1,186	$	927

For the three months ended December 31, 2014 and 2013, the Company incurred amortization expense of $20 thousand and $467 thousand, respectively.  For the six months ended December 31, 2014 and 2013, the Company incurred amortization expense of $41 thousand and $937 thousand, respectively.  There were no impairments related to intangible assets during each of the three and six months ended December 31, 2014 and 2013.

Future annual amortization expense consisted of the following as of December 31, 2014:

(In thousands) Fiscal Year Ending June 30,	Annual Amortization Expense
2015	$	41
2016	82
2017	82
2018	82
2019	79
Thereafter	371
	$	737

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.