Lannett Launches Five New Products In Fiscal 2019 First Quarter
PHILADELPHIA, Oct. 1, 2018 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it commenced marketing five new products in its recently completed fiscal 2019 first quarter, bringing to 12 the total number of products launched since January 1, 2018.
The five products, all launched in the quarter ended September 30, 2018, include Methylphenidate ER Capsules (the authorized generic equivalent of Metadate CD®), Esomeprazole DR Capsules, Buprenorphine plus Naloxone Sublingual Tablets and two pain management products. The five products have an estimated IMS market value of approximately $1.6 billion, although actual generic market values are expected to be lower. From January 1, 2018 to June 30, 2018, the company launched seven new products.
"Adding products to our offering is a key component of our growth plan," said Tim Crew, chief executive officer of Lannett. "We still have as many as 20 products, of which eight have already received FDA approval, that we anticipate we will launch over the next 12 months. In addition, we are in active discussions to acquire and/or in-license products from various partners. Thus, our goal is to maintain this recent cadence of product launches for the foreseeable future."
Earlier this year, the company acquired Metadate CD® from UCB, S.A.
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 Methylphenidate ER Capsules, Esomeprazole DR Capsules, Buprenorphine plus Naloxone SL Tablets and two pain management products, and the planned launches of other products, 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.
Robert Jaffe Co., LLC
SOURCE Lannett Company, Inc.