Lannett Hits A High After Loss Of Levothyroxine
Company Plans To Launch Several New Products By End Of June
Despite reporting a 16.4% drop in turnover in its financial third quarter, Lannett says it has recorded the highest quarterly sales since a key levothyroxine distribution deal fell apart last year. The company has launched 14 products in the financial year so far and plans to launch several more.
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For its proposed biosimilar to Lantus, Lannett promised in early February this year “to send the FDA our briefing book within the next few weeks and meet with them later this fiscal year to review the development plan.” The date for the meeting has now been confirmed.
Lannett has begun marketing a US rival to Adderall XR through a partnership with Elite and SunGen. But the product will face competition from a range of other generics.
Lannett has struck a deal giving it exclusive US distribution rights for 10 years to a generic version of Advair Diskus being developed by China’s Respirent.