Lannett Announces Agreement For Authorized Generic Version Of Toprol-XL®

PHILADELPHIA, Nov. 29, 2017 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has entered into an agreement with Aralez Pharmaceuticals Trading DAC, an Irish designated activity company, to become the exclusive distributor in the U.S. of the authorized generic version of Toprol-XL® (Metoprolol Succinate) Extended Release Tablets in 25 mg, 50 mg, 100 mg and 200mg.  For the 12 months ended September 2017, total U.S. sales at Average Wholesale Price (AWP) of Metoprolol Succinate extended release tablets 25 mg, 50 mg, 100 mg and 200 mg were approximately $690 million, according to IMS.  Financial terms were not disclosed.

Lannett Logo (PRNewsFoto/Lannett Company, Inc.)

"Metoprolol Succinate is a widely prescribed medication and will be an important addition to our cardiovascular product offering," said Arthur Bedrosian, chief executive officer of Lannett.  "We expect to launch the product, under the Lannett label, in the near future."

Metoprolol Succinate extended release is a beta-blocker used to treat chest pain (angina), heart failure and high blood pressure.  Lowering high blood pressure helps prevent strokes, heart attacks, and kidney problems.

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 statement, including, but not limited to, successfully commercializing Metoprolol Succinate extended release tablets 25 mg, 50 mg, 100 mg and 200 mg, whether expressed or implied, is 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.

Contact:

Robert Jaffe


Robert Jaffe Co., LLC


(424) 288-4098

 

SOURCE Lannett Company, Inc.


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