PHILADELPHIA, March 14, 2016 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that its wholly owned subsidiary, Kremers Urban Pharmaceuticals Inc. (KU), and a key customer are in the process of re-establishing business relations.

"We are extremely pleased to have the opportunity to restore business relations with this important customer," said Arthur Bedrosian, chief executive officer of Lannett. "We have addressed the outstanding concerns related to the customer to their satisfaction, and the customer subsequently extended an invitation to our team to begin rebuilding the relationship. We expect to meet shortly."

About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical 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, re-establishing the business relationship and resuming sales with the key customer, whether expressed or implied, are subject to market and other conditions, and 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 risk factors discussed in the Company's Form 10-K and other documents filed with the SEC from time to time, including the prospectus supplement related to the proposed offering to be filed with the SEC.  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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SOURCE Lannett Company, Inc.