Lannett Enters Supply And Distribution Agreement For Levothyroxine
Lannett enters into an agreement with Cediprof for an exclusive 10-year future supply and distribution agreement of levothyroxine starting 1 August 2022.
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Having failed to find a buyer for its raw materials business in Cody, US, Lannett now intends to shut down the operation.
US firm Lannett, which recently lost a key distribution deal involving a highly profitable thyroid drug, raised its sales guidance for fiscal 2019 and was upbeat on its prospects after reporting third-quarter net profit that fell by 17% to $10.6m.
How do you solve a problem like levothyroxine? Lannett’s management has been wondering exactly that since its partner opted to sign with Amneal instead of renewing its deal with the Philadelphia-based player. A steady stream of launches combined with the company’s cost-cutting scheme should go some way to plugging the gap, Lannett says.