Lannett Confident Of $1bn In Sales By 2025
Lantus And Advair Among Key Projects
US-centric generics player Lannett has an ambitious sales and profitability goals for the next five years, driven by several rewarding pipeline opportunities and a leaner cost base. CEO Tim Crew told investors of Lannett’s plans as he presented year-end financial results
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Lannett will launch a further seven products in fiscal 2021, after launching four products recently in the first quarter of FY21. The company also plans to pay off its Term Loan ‘A’ in full, by the end of November 2020.
As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
Lannett has partnered with China’s Respirent for a generic version of GlaxoSmithKline’s Flovent Diskus. At the same time, the US company has extended its exclusive US distribution rights for Respirent’s Advair Diskus rival from 10 years to 12 years, as Lannett remains on track to file its ANDA this calendar year.