Lannett Begins Marketing Generic Adderall®
PHILADELPHIA, May 16, 2019 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has begun marketing a generic version of Adderall®, an immediate-release (IR) mixed salt of a single entity Amphetamine tablet product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate), with strengths of 5 mg, 7.5 mg, 10 mg, 12.5 mg, 15 mg, 20 mg and 30 mg tablets. Adderall® including generic versions have an estimated IQVIA market value of approximately $349 million for the 12 months ending March 2019, although actual generic market values are expected to be lower.
"As planned, we launched the generic version of Adderall® IR in our fiscal 2019 fourth quarter," said Tim Crew, chief executive officer of Lannett. "This medication is an important addition to our offering, and the first of additional products for which we are looking to collaborate on with our strategic partner."
As previously announced, Lannett entered into an agreement with Elite Pharmaceuticals and SunGen Pharma to be the exclusive U.S. distributor of a generic version of Adderall® IR. Under the agreement, Lannett primarily provides sales, marketing and distribution support for the product, for which it will receive a share of the profits.
Adderall®, a registered trademark of Teva Pharmaceutical Industries Ltd, is a central nervous system (CNS) stimulant, indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and Narcolepsy.
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 generic Adderall IR®, 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.
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SOURCE Lannett Company, Inc.