Subsequent Events

12 Months Ended

Jun. 30, 2019

Subsequent Events

Subsequent Events

Note 22. Subsequent Events

Levothyroxine Sodium Tablets USP Distribution Agreement

In July 2019, the Company entered into an agreement with Cediprof for the exclusive right, commencing no later than August 1,2022, to market and supply Levothyroxine Sodium Tablets USP manufactured by Cediprof in the United States of America and its territories and possessions, with the exception of Puerto Rico and the Virgin Islands. The Company made an up-front payment to Cediprof in the amount of $20.0 million upon entering into the agreement.

Posaconazole Distribution Agreement

In August 2019, the Company entered into a distribution and supply agreement with Sinotherapeutics Inc. to be the exclusive distributor of Posaconazole Delayed-Release Tablets 100mg (the “Product”), which is an AB-rated generic equivalent of Merck & Co., Inc.’s Noxafil® Delayed-Release Tablets. On August 21, 2019, Sinotherapeutics received final approval from the FDA of its ANDA for the Product, and is currently the sole company to receive ANDA approval for the Product. As a result of Sinotherapeutics’ receiving approval of its ANDA application, the Company will commence marketing the Product. The Company will also be required to pay Sinotherapeutics a portion of the net profits the Company receives from the sale of Products plus an earn out payment based on aggregate net profits of the Product that can vary based on market dynamics.