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Lannett Launches Three Recently Approved Products

Philadelphia, PA – October 14, 2011 – Lannett Company, Inc. (NYSE AMEX: LCI) today announced that it has commenced shipping three products - Diethylpropion Tablets 25mg, Phentermine HCI Capsules 37.5mg and Loxapine Capsules 5 mg, 10 mg, 25 mg and 50 mg - recently approved by the U.S. Food and Drug Administration (FDA).

“Sales of the three products augment and strengthen our growing product offering, and we expect will be solid contributors to both sales and profits in fiscal 2012. Sales of the three items were in our guidance issued during our earnings call,” said Arthur P. Bedrosian, president and chief executive officer of Lannett.

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 the 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, the launch and market acceptance and demand of Diethylproprion Tablets, Phentermine HCI Capsules and Loxapine Capsules, 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 forward-looking statements.

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