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Lannett Company Inc (LCI.N)

LCI.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Lannett Says Nonrenewal Of Deal With JSP Represents A “Triggering Event” Under U.S. GAAP
Thursday, 23 Aug 2018 

Aug 23 (Reuters) - Lannett Company Inc ::LANNETT SAYS DETERMINED NONRENEWAL OF DEAL WITH JEROME STEVENS PHARMACEUTICALS REPRESENTS A “TRIGGERING EVENT” UNDER U.S. GAAP - SEC FILING.LANNETT COMPANY - BELIEVES THAT ITS IMPAIRMENT ASSESSMENT TO LIKELY RESULT IN MATERIAL IMPAIRMENT OF THE CO'S GOODWILL.LANNETT COMPANY INC - ANY IMPAIRMENT WOULD RESULT IN NONCASH CHARGE TO EARNINGS IN Q1 OF FISCAL 2019.LANNETT SAYS DUE TO "TRIGGERING EVENT", TO PERFORM ANALYSIS TO DETERMINE POTENTIAL FOR IMPAIRMENT OF GOODWILL, CERTAIN LONG-LIVED ASSETS IN Q1 2019.  Full Article

Lannett Co Sees FY 2018 Adjusted EPS $3.08 To $3.10
Monday, 20 Aug 2018 

Aug 20 (Reuters) - Lannett Company Inc ::LANNETT PROVIDES UPDATE ON CONTRACT RENEWAL WITH JEROME STEVENS PHARMACEUTICALS.SEES FY 2018 ADJUSTED EARNINGS PER SHARE $3.08 TO $3.10.SEES Q4 2018 ADJUSTED EARNINGS PER SHARE $0.62 TO $0.64.SEES FY 2018 GAAP EARNINGS PER SHARE $0.73 TO $0.75.SEES Q4 2018 GAAP LOSS PER SHARE $0.30 TO $0.32.SEES FY 2019 SALES $50 MILLION.SEES FY 2018 SALES ABOUT $685 MILLION.SEES Q4 2018 SALES ABOUT $171 MILLION.FOR FISCAL 2018 Q4, NET SALES ARE EXPECTED TO BE APPROXIMATELY $171 MILLION.LANNETT COMPANY - DISTRIBUTION AGREEMENT WITH JEROME STEVENS PHARMACEUTICALS, WHICH EXPIRES ON MARCH 23, 2019, WILL NOT BE RENEWED.FOR FISCAL 2018 Q4 GAAP LOSS PER SHARE ATTRIBUTABLE TO LANNETT TO BE BETWEEN $0.30 AND $0.32.SEESS FISCAL 2018 Q4 ADJUSTED EPS ATTRIBUTABLE TO LANNETT TO BE BETWEEN $0.62 AND $0.64.EXPECT TO EXPAND RESTRUCTURING INITIATIVES TO FURTHER REDUCE EXPENDITURES.Q4 EARNINGS PER SHARE VIEW $0.66, REVENUE VIEW $173.5 MILLION -- THOMSON REUTERS I/B/E/S.FY2018 EARNINGS PER SHARE VIEW $3.12, REVENUE VIEW $687.2 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Lannett Company Expects To Report Impairment Charge Of About $21.5 Mln
Monday, 6 Aug 2018 

Aug 6 (Reuters) - Lannett Company Inc ::LANNETT COMPANY - CONCLUDED EXPECTS TO REPORT IMPAIRMENT CHARGE OF ABOUT $21.5 MILLION.LANNETT COMPANY INC - ALSO CONCLUDED EXPECTS TO REPORT AN IMPAIRMENT CHARGE OF APPROXIMATELY $3.5 MILLION.LANNETT - CHARGE OF ABOUT $21.5 MILLION RELATED TO FACILITY, OTHER PLANT-RELATED ASSETS ASSOCIATED TO EXPANSION PROJECT AT CODY LABORATORIES.LANNETT COMPANY - IMPAIRMENT CHARGES WILL BE REPORTED IN CO'S RESULTS OF OPERATIONS FOR THREE MONTHS AND YEAR ENDED JUNE 30, 2018 - SEC FILING.  Full Article

Lannett Enters Licensing Agreement For Generic Concerta, Methylphenidate Hydrochloride ER Tablets
Friday, 3 Aug 2018 

Aug 3 (Reuters) - Lannett Company Inc ::LANNETT ENTERS LICENSING AGREEMENT FOR GENERIC CONCERTA®, METHYLPHENIDATE HYDROCHLORIDE ER TABLETS.LANNETT COMPANY INC - UNDER AGREEMENT, CO WILL PRIMARILY PROVIDE SALES, MARKETING AND DISTRIBUTION SUPPORT OF ANDOR'S METHYLPHENIDATE ER PRODUCT.LANNETT COMPANY INC - ENTERED INTO AN EXCLUSIVE PERPETUAL LICENSING AGREEMENT WITH ANDOR PHARMACEUTICALS, LLC.LANNETT - BASED ON ANDOR'S TARGET ACTION DATE, "OPTIMISTIC" ABOUT LAUNCHING PRODUCT WELL WITHIN CALENDAR 2019.LANNETT - WILL GET PERCENT OF NET PROFITS FOR PROVIDING SALES, MARKETING AND DISTRIBUTION SUPPORT OF ANDOR'S METHYLPHENIDATE ER PRODUCT.LANNETT CO - ANDOR'S PENDING ANDA OF METHYLPHENIDATE EXPECTED TO BE APPROVED AS AN AB-RATED GENERIC EQUIVALENT TO BRAND CONCERTA.  Full Article

Lannett Announces Restructuring Plan Of Cody Labs Subsidiary
Friday, 29 Jun 2018 

June 29 (Reuters) - Lannett Company Inc ::LANNETT ANNOUNCES RESTRUCTURING PLAN OF CODY LABORATORIES SUBSIDIARY.LANNETT COMPANY INC - PLAN IS EXPECTED TO GENERATE ANNUALIZED COST SAVINGS OF ABOUT $10 MILLION AND BE SUBSTANTIALLY COMPLETED BY DEC 2018.LANNETT COMPANY - ESTIMATES IT WILL INCUR ABOUT $5 MILLION OF TOTAL COSTS TO IMPLEMENT PLAN, COMPRISED PRIMARILY OF SEVERANCE, EMPLOYEE RELATED COST.LANNETT COMPANY - MAY INCUR NON-CASH IMPAIRMENT CHARGES RELATED TO CODY'S FACILITY, EQUIPMENT AND OTHER PLANT-RELATED ASSETS.LANNETT COMPANY INC - RESTRUCTURING ACTIONS ARE ESTIMATED TO ULTIMATELY RESULT IN REDUCTION OF ABOUT 50 POSITIONS AT CODY.  Full Article

Lannett Acquires Portfolio Of Generic Products From Endo International
Monday, 7 May 2018 

May 7 (Reuters) - Lannett Company Inc ::LANNETT ACQUIRES PORTFOLIO OF GENERIC PRODUCTS FROM ENDO INTERNATIONAL.LANNETT COMPANY INC - TRANSACTION INCLUDES 23 APPROVED AND 1 PENDING DRUG PRODUCT APPLICATIONS, PRIMARILY ORAL SOLUTIONS.LANNETT - ACQUIRED 23 APPROVED AND ONE PENDING DRUG PRODUCT APPLICATIONS FROM UNIT OF ENDO FOR UPFRONT PAYMENT PLUS FUTURE MILESTONE PAYMENTS.LANNETT - EXPECT TO BEGIN LAUNCHING PRODUCTS, AFTER TRANSFER ACTIVITIES ARE COMPLETED, REGULATORY FILINGS MADE, ESTIMATED TO BE IN H2 2019.  Full Article

Lannett Appoints Patrick Lepore Chairman Of Board
Monday, 30 Apr 2018 

April 30 (Reuters) - Lannett Company Inc ::LANNETT ANNOUNCES CHANGES TO BOARD OF DIRECTORS.SAYS JOHN C. CHAPMAN APPOINTED TO THE BOARD.SAYS PATRICK LEPORE APPOINTED CHAIRMAN OF THE BOARD.LEPORE WILL SUCCEED JEFFREY FARBER, WHO WILL REMAIN A MEMBER OF BOARD.  Full Article

Lannett Appoints Timothy Crew As CEO
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Lannett Company Inc ::LANNETT APPOINTS TIMOTHY C. CREW AS CEO.LANNETT COMPANY INC - TIMOTHY CREW WILL SUCCEED ARTHUR BEDROSIAN, WHO WILL CONTINUE TO SERVE AS CEO UNTIL CREW JOINS COMPANY.LANNETT COMPANY INC - BOARD NAMED TIMOTHY C. CREW AS CHIEF EXECUTIVE OFFICER, EFFECTIVE JANUARY 2, 2018.  Full Article

Lannett Reports FDA Acceptance Of 505(B)(2) NDA For Cocaine Hydrochloride Topical Solution
Friday, 1 Dec 2017 

Dec 1 (Reuters) - Lannett Company Inc ::LANNETT ANNOUNCES FDA ACCEPTANCE OF 505(B)(2) NEW DRUG APPLICATION FOR COCAINE HYDROCHLORIDE TOPICAL SOLUTION, A PROPRIETARY ANESTHETIC PRODUCT.LANNETT COMPANY - ‍FDA HAS ASSIGNED A PRESCRIPTION DRUG USER FEE ACT (PDUFA) GOAL DATE OF JULY 21, 2018, TEN MONTHS FROM OFFICIAL NDA SUBMISSION DATE​.  Full Article

Lannett Announces Agreement For Authorized Generic Version Of Toprol-XL
Wednesday, 29 Nov 2017 

Nov 29 (Reuters) - Lannett Company Inc ::LANNETT ANNOUNCES AGREEMENT FOR AUTHORIZED GENERIC VERSION OF TOPROL-XL®.LANNETT COMPANY INC - FINANCIAL TERMS WERE NOT DISCLOSED..LANNETT COMPANY INC - HAS ENTERED INTO AN AGREEMENT WITH ARALEZ PHARMACEUTICALS TRADING DAC.LANNETT COMPANY - ‍AGREEMENT WITH ARALEZ PHARMACEUTICALS TRADING DAC TO BECOME EXCLUSIVE DISTRIBUTOR IN U.S. OF AUTHORIZED GENERIC VERSION OF TOPROL-XL​.LANNETT COMPANY INC - DEAL TO BECOME EXCLUSIVE DISTRIBUTOR IN U.S. OF TOPROL-XL EXTENDED RELEASE TABLETS IN 25 MG, 50 MG, 100 MG AND 200MG.  Full Article

BRIEF-Lannett Receives FDA Approval For Dronabinol Capsules

* LANNETT COMPANY INC - RECEIVED APPROVAL OF ABBREVIATED NEW DRUG APPLICATION FOR DRONABINOL CAPSULES USP, 2.5 MG, 5 MG AND 10 MG