Subsequent Events	9 Months Ended
Mar. 31, 2022
Subsequent Events.
Subsequent Events	Note 21. Subsequent Events Societal CDMO Gainesville LLC The Company is a party to a Distribution and Supply Agreement (“Agreement”) between Societal CDMO Gainesville LLC (“Societal”) and Lannett Company, Inc. (“Lannett”), for the distribution of three verapamil products, only one of which has meaningful sales. The Agreement, as amended, is scheduled to expire on December 31, 2024. On May 5, 2022, Lannett received a letter from Societal purporting to terminate the Agreement as of June 2, 2022. Societal claims Lannett is in default under the Agreement. The Company believes the letter is procedurally and substantively defective, and disputes that the Company is in default under the Agreement. Lannett maintains that the purported termination is ineffective and is in the process of responding to the letter. The Company intends to exercise all available rights and remedies available under the Agreement and prevailing law. Verapamil is a higher than average margin product, which contributed approximately 7% of total net sales for the nine months ended March 31, 2022, and is included in the Company’s KUPI product rights intangible asset portfolio. An impairment of the Company’s intangible asset could result if the Company’s available rights and remedies, under the Agreement and prevailing law, are not successful. Any impairment would result in a noncash charge to earnings in the fourth quarter of Fiscal 2022.

Subsequent Events

9 Months Ended

Mar. 31, 2022

Note 21. Subsequent Events

Societal CDMO Gainesville LLC

The Company is a party to a Distribution and Supply Agreement (“Agreement”) between Societal CDMO Gainesville LLC (“Societal”) and Lannett Company, Inc. (“Lannett”), for the distribution of three verapamil products, only one of which has meaningful sales. The Agreement, as amended, is scheduled to expire on December 31, 2024. On May 5, 2022, Lannett received a letter from Societal purporting to terminate the Agreement as of June 2, 2022. Societal claims Lannett is in default under the Agreement. The Company believes the letter is procedurally and substantively defective, and disputes that the Company is in default under the Agreement. Lannett maintains that the purported termination is ineffective and is in the process of responding to the letter. The Company intends to exercise all available rights and remedies available under the Agreement and prevailing law.

Verapamil is a higher than average margin product, which contributed approximately 7% of total net sales for the nine months ended March 31, 2022, and is included in the Company’s KUPI product rights intangible asset portfolio. An impairment of the Company’s intangible asset could result if the Company’s available rights and remedies, under the Agreement and prevailing law, are not successful. Any impairment would result in a noncash charge to earnings in the fourth quarter of Fiscal 2022.