Lannett Bets On Respiratory And Insulins Pipeline As Sales Falter
Advair And Flovent Rivals And Biosimilar Insulins Among ‘Durable’ Opportunities
Despite turnover dropping by over a fifth in its financial third quarter, Lannett says it is optimistic that respiratory generics and insulins will offer the firm “durable” opportunities in future. The company has also just reorganized its finances to extend its debt maturity by four years, pushing it back past some of its key launches.
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As Lannett announced the submission of an IND with the FDA for the proposed insulin glargine biosimilar rival to Lantus that it is developing with HEC, the company set out key development and commercialization milestones for the product in 2022, 2023 and 2024.
The generics industry struggled with the prior-year comparison as it saw an expected decline in revenues in the first quarter of 2021, driven by the global impact of the COVID-19 crisis. As a result, the performance of most companies fell short of the numbers reported in Q1 2020. However, a few managed to contradict the trend by reporting growth, either based on the launch of COVID-related drugs or performance in specific geographies.
Hikma has restarted launch activities for its generic version of GSK’s Advair respiratory blockbuster in the US, after the FDA gave the go-ahead following approval of an ANDA amendment.