Lannett Pays Off, In Full, Remaining Term A Loans
PHILADELPHIA, Nov. 30, 2020 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that the company used a portion of its existing cash on hand to pay off, in full, the remaining
"Paying off our Term A Loans is an important achievement and a key step toward strengthening our balance sheet and improving our long-term financial health," said Tim Crew, chief executive officer of Lannett. "This payoff will result in annual reductions of interest expense and principal payments of approximately
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 paying off the company's remaining outstanding debt, 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 |
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SOURCE Lannett Company, Inc.
