--Approval Allows Site to Rapidly Expand
Liquid Drug Manufacturing--
PHILADELPHIA, Oct. 21,
2022 /PRNewswire/ -- Lannett Company, Inc. (NYSE:
LCI) today announced that it has received approval from the US Food
and Drug Administration (FDA) to manufacture Numbrino®,
the company's branded topical anesthetic product, at its main plant
in Seymour, Indiana. The company
previously manufactured Numbrino and other liquid drug products at
its Carmel, New York plant, which
it sold in March of this year as part of a restructuring and cost
reduction plan.
"We completed the liquid drug build-out at our Seymour plant and received this FDA approval
well ahead of schedule, demonstrating our team's capabilities,
dedication and focus," said Tim
Crew, chief executive officer of Lannett. "Moreover, the
approval indicates that we can continue transferring our liquid
drug products with confidence, and it opens the door for expansion
of our contract development and manufacturing efforts we market to
other companies into the solution and suspension categories. We
also expect our overall manufacturing efficiencies will be enhanced
as production ramps up of Numbrino and other liquid and suspension
drug products at the Seymour
plant."
Crew noted that at the time of the sale of the Carmel plant the company said the buyer would
support production of certain Lannett products for a period of up
to 18 months. Now, our team will only need such production support
for less than 10 months - a remarkably expeditious time frame by
prevailing industry standards.
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,
achieving enhanced efficiencies related liquid drug manufacturing
and contract manufacturing at its Seymour plant, successfully manufacturing
Numbrino, and completing the transfer and production of other
liquid drug products at the Seymour plant, 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
Robert Jaffe Co., LLC
(424) 288-4098
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SOURCE Lannett Company, Inc.