Lannett Enters Into Distribution Agreement For Trientine Hydrochloride Capsules, Launch Imminent
Company Has Begun Marketing Entacapone IR Tablets
PHILADELPHIA, Jan. 22, 2019 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has entered into an agreement with a strategic alliance partner to be the exclusive U.S. distributor of Trientine Hydrochloride Capsules, 250 mg, which is the AB-rated generic equivalent to Syprine® of Valeant Pharmaceuticals International, Inc. (now Bausch Health Companies Inc.). Under the agreement, Lannett will primarily provide sales, marketing and distribution support for the product, for which it will receive a percentage of net profits. Other financial terms were not disclosed.
"We expect to commence shipping Trientine soon and believe we will be one of only a few suppliers," said Tim Crew, chief executive officer of Lannett. "We are focused and remain on track to launch a sizeable number of products in the near term. These include internally developed as well as in-licensed products. Our ongoing goal is to add products to our growing portfolio, increasing and further diversifying our revenue base."
Crew added that Lannett has begun marketing Entacapone Immediate Release (IR) Tablets 200 mg, the therapeutic equivalent to the reference listed drug, Comtan®, of Novartis International AG. The company previously announced that it had expanded its agreement with Sunshine Lake LLC, the U.S. subsidiary of the HEC Pharm Group of China, to be the exclusive distributor in the U.S. of Entacapone IR Tablets 200 mg.
Trientine Hydrochloride Oral Capsules and Entacapone IR Tablets have estimated IQVIA market values of approximately $140 million and $23 million, respectively, for the 12-month period ending November 2018, although actual generic market values are expected to be lower.
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 Trientine Hydrochloride Capsules and Entacapone IR Tablets, 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.