Lannett Announces Senior Management Promotions

--Company Appoints Kristie Stephens Vice President Regulatory Affairs and Chief Compliance Officer and John Kozlowski Vice President Financial Operations and Corporate Controller--

PHILADELPHIA, July 25, 2016 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced two promotions. Kristie Stephens has been appointed vice president of regulatory affairs and chief compliance officer, and John Kozlowski has been appointed vice president financial operations and corporate controller.

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"Over the last year, we have completed a major acquisition that nearly doubled the size of our company, significantly expanded our relationships with strategic partners and augmented our pipeline with large market opportunity products in new therapeutic categories," said Arthur Bedrosian chief executive officer of Lannett. "I am pleased that we have a cadre of capable and experienced internal staff from which we can draw and effectuate our continued growth and success.

"Our industry is heavily regulated making Kristie's role extremely important. She has become an integral part of our management team and we are confident that she has the ability, knowledge and experience to excel at her new position. John has been instrumental in aligning the company's strategic initiatives with financial operations around the country and implementing improvements to our accounting and finance processes. Kristie and John are well deserving of their promotions, having made significant contributions to the company and demonstrated tremendous leadership and commitment in their respective positions."

Stephens will be responsible for ensuring regulatory compliance, engaging in effective dialogue with all U.S. regulatory bodies and overseeing the company's clinical and regulatory affairs. Prior to the promotion, Stephens served as Lannett's director of regulatory affairs. She first joined the company in 1999 as a chemist. Over her 16-year tenure, Stephens rose through the ranks of the company's regulatory department. She led the company's regulatory affairs efforts during the due diligence process of two recent acquisitions; and, afterward, was responsible for integrating the regulatory affairs staff from three sites to establish one corporate group. Stephens earned a bachelor of science degree in biology from Millersville University of Pennsylvania and a master of science degree in quality assurance and regulatory affairs from Temple University.

Kozlowski joined Lannett in 2009, most recently serving as corporate controller. In his expanded role, he will be responsible for directing the company's accounting activities to ensure accurate and timely compliance with all internal and external requirements, and driving efficiencies and standardization throughout the accounting function to enhance the monthly close, consolidations, controls and reporting processes. In addition, he will lead the company's financial planning, and budget management and analysis, and collaborate with senior leadership on the development of the company's business plans. Prior to joining Lannett, Kozlowski served in senior finance and accounting roles for Optium Corporation and Finisar Australia. Kozlowski earned a bachelor of arts degree in finance from James Madison University and a master of business administration degree from Rider University.

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.

Contact:
Robert Jaffe
Robert Jaffe Co., LLC
(424) 288-4098

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SOURCE Lannett Company, Inc.


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