PHILADELPHIA, PA – September 14, 2004 – LANNETT COMPANY, INC. (AMEX: LCInews) is pleased to announce the addition of Albert I. Wertheimer, PhD, MBA, to its Board of Directors.

Dr. Wertheimer has a long and distinguished career in various aspects of pharmacy, health care, education and pharmaceutical research. Presently, Dr. Wertheimer is a professor at the School of Pharmacy at Temple University, and director of its Center for Pharmaceutical Health Services Research. In addition to his academic responsibilities, he is the author of 20 books and more than 350 journal articles. Dr. Wertheimer also provides consulting services to institutions in the pharmaceutical industry. Dr. Wertheimer’s academic experience includes professorships and other faculty and administrative positions at several educational institutions, including the Medical College of Virginia, St. Joseph’s University, Philadelphia College of Pharmacy and Science and the University of Minnesota. Dr. Wertheimer’s previous professional experience includes pharmacy services in commercial and non-profit environments. Professor Wertheimer is a licensed pharmacist in five states, and is a member of several health associations, including the American Pharmacists Association and the American Public Health Association. Dr. Wertheimer is the editor of the JOURNAL OF PHARMACEUTICAL FINANCE AND ECONOMIC POLICY; and he has been on the editorial board of the Journal of Managed Pharmaceutical Care, Medical Care, and other healthcare journals. Dr. Wertheimer has a B.S. Degree in Pharmacy from the University of Buffalo, an M.B.A. from the State University of New York at Buffalo, a Ph.D. from Purdue University and a Post Doctoral Fellowship from the University of London, St. Thomas’ Medical School.

William Farber, Lannett’s Chairman of the Board of Directors, stated “Dr. Wertheimer provides the Lannett Board with a thorough knowledge of drug products and medicine, in addition to offering us a direct communication to several academic resources involved in the pharmaceutical business. He has excellent relationships in both the academic and commercial arenas of the drug industry.”

The Company’s common stock trades on the American Stock Exchange under the symbol (“LCI”). For more information, please call Investor Relations at 215/333-9000.