LANNETT COMPANY LAUNCHES FLUPHENAZINE HCL TABLETS USP

Philadelphia, PA – October 18, 2010 – Lannett Company, Inc. (AMEX: LCI), a manufacturer of generic pharmaceuticals, today announced that it has commenced shipping Fluphenazine HCl Tablets USP, the generic equivalent of Prolixin®, in 1 mg, 2.5 mg, 5 mg and 10 mg dosages. For the 12 months ended September 2010, Fluphenazine HCl Tablets USP, 1 mg, 2.5 mg, 5 mg, & 10 mg had U.S. sales of approximately $28 million at Average Wholesale Price. Lannett acquired an FDA approved Abbreviated New Drug Application (ANDA) for Fluphenazine HCl Tablets USP, in 1 mg, 2.5 mg, 5 mg and 10 mg dosages.

“To broaden our product offering and help offset the FDA backlog, we augment our internal drug development efforts with strategic alliances and product acquisitions,” said Arthur Bedrosian, president and chief executive officer of Lannett. “Fluphenazine represents our second product launch resulting from an acquired ANDA. We continue to seek additional opportunities to expand our portfolio through collaboration or the purchase of complementary products.”

Fluphenazine HCl Tablets USP, 1 mg, 2.5 mg, 5 mg and 10 mg are antipsychotic agents used in the treatment of schizophrenia and other mental illnesses.

About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of indications. For more information, visit Lannett Company’s website at www.lannett.com.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Any such statements, including, but not limited to, adding Fluphenazine HCl Tablets to the company’s growing product offering and the successful commercialization of the product, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, Lannett’s estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company’s Form 10-K and other documents filed with the Securities and Exchange Commission from time to time. These forward-looking statements represent the company's judgment as of the date of this news release. The company disclaims any intent or obligation to update these forwardlooking statements. 


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