Lannett Company develops, manufactures, markets and distributes a broad spectrum of off-patent pharmaceutical products in a variety of dosage forms, including tablets, capsules, extended release, topicals, oral solutions and parenterals. Additionally, the company develops and manufactures active pharmaceutical ingredients (APIs) through its wholly owned subsidiary, Cody Laboratories.
The company is committed to product development and has built a deep pipeline that includes a substantial number of product applications pending at the FDA in addition to a large number of product candidates in various stages of development. Lannett has grown substantially, with a top line compounded annual growth rate of more than 25% since 2001. The company intends to grow its business organically, as well as by acquiring complementary products or companies and forming strategic relationships.
Lannett has targeted three areas of its business for expansion. The strategy for its base generics business is to commercialize products in its pipeline, develop products with market barriers to entry, acquire complementary products and form strategic relationships. For its controlled substance business, the company intends to continue to invest in the development of higher margin products, with a focus on novel forms of delivery, to become a dominant player in the U.S. Lastly, the company will continue to ramp up its branded products business.
Each of Lannett’s business areas are primed for growth. The company anticipates that the demand for its generic medications, narcotics and controlled drugs, and branded products will fueled by, among other things, the aging Baby Boomer population. Lannett’s strong track record of regulatory compliance and manufacturing excellence, combined with strong management team, position the company well for the future.