Lannett Launches Fluvastatin Sodium ER Tablets
PHILADELPHIA, July 12, 2021 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it recently began marketing Fluvastatin Sodium Extended-release Tablets, 80 mg, a partnered product. Total U.S. sales of Fluvastatin Sodium Extended-release Tablets, 80 mg, according to IQVIA market, were approximately $10 million for the 12 months ending May 2021, although actual generic market values are expected to be lower.
"Although the market potential is modest, we are pleased to offer an affordable Fluvastatin alternative to our customers," said Tim Crew, chief executive officer of Lannett. "Currently, only one other competitor markets generic Fluvastatin Sodium Extended-release Tablets, 80 mg, in the U.S."
Fluvastatin Sodium Extended-release Tablets, the generic equivalent of Novartis' Lescol XL® Tablets, is used as an adjunct to diet to treat elevated cholesterol levels.
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 Fluvastatin Sodium Extended-release Tablets, 80 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.
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SOURCE Lannett Company, Inc.