Lannett Announces Launch Of FDA Approved Levothyroxine Tablets
Lannett Company (NYSE: LCI) announced the launch of Cediprof's FDA-approved Levothyroxine Sodium Tablets USP, under a new exclusive supply and distribution agreement.
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Rhea-AI Summary
Lannett Company (NYSE: LCI) announced the launch of Cediprof's FDA-approved Levothyroxine Sodium Tablets USP, under a new exclusive supply and distribution agreement. The launch follows favorable legal rulings rejecting a temporary restraining order against Cediprof's distribution rights transfer to Lannett. These rulings remove potential obstacles, allowing Lannett to start distributing the product in the U.S. Levothyroxine Sodium is essential for treating thyroid-related conditions, presenting significant market opportunities.
Positive
- Launch of FDA-approved Levothyroxine Sodium Tablets USP, enhancing product portfolio.
- Legal victories against previous distributor removed distribution hurdles.
Negative
- None.
Details
News Market Reaction – LCI
The recorded move for LCI in the trading session of this news was +5.21%.
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PHILADELPHIA, Aug. 3, 2020 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced the launch of Cediprof, Inc.'s FDA approved Levothyroxine Sodium Tablets USP, under the companies recently announced interim exclusive supply and distribution agreement.
The companies also said they have prevailed in separate legal challenges by Cediprof's previous distributor of the product. Judges in two courts denied a request by the previous distribution partner for a temporary restraining order that sought to enjoin Cediprof from terminating the prior agreement and transferring distribution rights to Lannett.
Lannett said the rulings removed a potential hurdle for it to commence distributing the product in the U.S., notwithstanding any ongoing dispute with Cediprof's prior partner on the earlier termination.
Cediprof, Inc. is a part of the Neolpharma Pharmaceutical Group family of companies.
About Neolpharma Pharmaceutical Group:
Neolpharma Pharmaceutical Group engages in the research, development, production and distribution of generic medicines in the following therapeutic areas: CNS, oncology, metabolic disease, rheumatology and infectious diseases. Based in Mexico City, Mexico, Neolpharma Group has affiliates and operations in Puerto Rico, the U.S. and Latin America. For more information, visit the company's website at www.neolpharma.com.
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, the company successfully commercializing Levothyroxine Sodium Tablets, and the potential material impact of COVID-19 on future financial results, 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.
Contact: | Robert Jaffe | |
Robert Jaffe Co., LLC | ||
(424) 288-4098 |
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SOURCE Lannett Company, Inc.
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