10.    Related Party Transactions

From July 2010 to November 2013, the Company manufactured and sold products to Allergan at Juniper’s cost plus 10%; the revenues generated from these sales were recorded within product revenues from related party. Pursuant to the Purchase and Collaboration Agreement dated July 2, 2010, Juniper receives royalties equal to a minimum of 10% of annual net sales of CRINONE by Allergan for annual net sales up to $150 million, 15% for sales above $150 million but less than $250 million; and 20% for annual net sales of $250 million and over.

On March 7, 2014 the Company acquired all of its common stock beneficially owned by Allergan, which represented approximately 11.5% of the Company’s outstanding common stock. Immediately following the closing of the stock repurchase and as of December 31, 2014, Allergan did not own any of the Company’s outstanding common stock. Juniper purchased the 1.4 million shares held by Allergan at a price of $6.08 per share, which represented a 10.75% discount to the market closing price on March 6, 2014. The total purchase price was approximately $8.5 million. At December 31, 2013, Allergan owned 11.5% of the Company’s outstanding common stock.

 

The table below presents the related party transactions between the Company and Allergan for the years ended, December 31, 2014 and 2013 (in thousands):

 

		2014				2013
Revenues:
Product revenues		$	167			$	—
Royalties			714				3,436
Other revenues			—				300
Total revenues			881				3,736
Cost of product revenues:
Cost of product revenues			—				—
Gross profit		$	881			$	3,736

As of December 31, 2015 and December 31, 2014, nothing was due from related party for these sales. There were no amounts due to Allergan as of December 30, 2015 and December 31, 2014.

Other revenues for the year ended December 31, 2013, consisted of a $0.3 million one-time payment associated with the termination of the supply agreement with Allergan in fourth quarter of 2013.