Related Party Transactions

9 Months Ended

Mar. 31, 2020

Related Party Transactions

Related Party Transactions

Note 18.  Related Party Transactions

The Company had sales of $0.9 million during each of the three months ended March 31, 2020 and 2019, to a generic distributor, Auburn Pharmaceutical Company (“Auburn”), which is a member of the Premier Buying Group.  Sales to Auburn for the nine months ended March 31, 2020 and 2019 were $2.1 million and $2.4 million, respectively.  Jeffrey Farber, a current board member, is the owner of Auburn.  Accounts receivable includes amounts due from Auburn of $0.8 million and $1.2 million at March 31, 2020 and June 30, 2019, respectively.

The Company also had sales of $0.7 million and $0.5 million during the three months ended March 31, 2020 and 2019, respectively, to a generic distributor, KeySource, which is a member of the OptiSource Buying Group.  Sales to KeySource for the nine months ended March 31, 2020 and 2019 were $1.9 million and $2.0 million, respectively.  Albert Paonessa,  a board member until the date of the Company’s 2020 Annual Meeting of Stockholders, was appointed the CEO of KeySource in May 2017.  Accounts receivable includes amounts due from KeySource of $0.8 million and $0.7 million as of March 31, 2020 and June 30, 2019, respectively.