Acquisitions (Tables)

6 Months Ended

Dec. 31, 2015

KUPI

Acquisitions

Summary of fair value of total consideration transferred

The following table summarizes the fair value of total consideration transferred to KUPI shareholders at the acquisition date of November 25, 2015:

(In thousands)
Cash purchase price paid to KUPI shareholders	$	1,030,000
Estimated working capital adjustment	(46,202		)
Certain amounts reimbursable by UCB	(37,340		)
Total cash consideration transferred to KUPI shareholders	946,458
Unsecured 12.0% Senior Notes issued to UCB	200,000
Acquisition-related contingent consideration	35,000
Warrant issued to UCB	29,920
Total consideration to KUPI shareholders	$	1,211,378

Schedule of preliminary purchase price allocated to assets acquired and liabilities assumed

(In thousands)	Kremers Urban Pharmaceuticals, Inc.
Cash and cash equivalents	$	16,877
Accounts receivable, net of revenue-related reserves	149,209
Inventories	83,815
Other current assets	12,873
Property, plant and equipment	97,418
Product rights	409,000
Trade name	2,920
Other intangible assets	20,000
In-process research and development	232,000
Goodwill	240,575
Deferred tax assets	4,956
Other assets	4,859
Total assets acquired	1,274,502
Accounts payable	(19,249		)
Accrued expenses	(4,161		)
Accrued payroll and payroll-related expenses	(20,731		)
Rebates payable	(9,816		)
Royalties payable	(3,798		)
Other long-term liabilities	(5,369		)
Total net assets acquired	$	1,211,378

Schedule of revenue, net income and earnings per common share included in Company's Condensed Consolidated Statements of Operations

	For the Three and Six Months Ended December 31,
(In thousands, except per share data)	2015
Revenues	$	26,131
Net loss attributable to Lannett Company, Inc.		(6,307	)
Loss per common share attributable to Lannett Company, Inc.:
Basic	$	(0.17	)
Diluted	$	(0.17	)

Schedule of unaudited pro forma information

	For the Three Months Ended December 31,				For the Six Months Ended December 31,
(In thousands, except per share data)	2015		2014		2015		2014
Revenues	$	173,189	$	224,982	$	357,155	$	422,471
Net income attributable to Lannett Company, Inc.	28,810		56,636		55,129		60,119
Earnings per common share attributable to Lannett Company, Inc.:
Basic	$	0.79	$	1.59	$	1.52	$	1.69
Diluted	$	0.77	$	1.53	$	1.47	$	1.62

Silarx

Acquisitions

Schedule of preliminary purchase price allocated to assets acquired and liabilities assumed

(In thousands)	Silarx
Cash	$	664
Accounts receivable, net of revenue-related reserves	4,396
Inventories	2,705
Other current assets	467
Property, plant and equipment	7,247
Product rights	10,000
In-process research and development	18,000
Goodwill	141
Other assets	9
Total assets acquired	43,629
Accounts payable	(711		)
Income taxes payable	(392		)
Total net assets acquired	$	42,526