Amended Credit Agreement Aids Lannett As It Commits To The US Generics Space

13 Dec 2018

Saddled with a mountain of debt and the loss of a lucrative distribution contract representing around a third of annual revenues, Lannett is looking to bounce back in 2019. A recently-signed amendment to its credit agreement, providing much-needed financial breathing room, and a stacked pipeline are boons for the US-centric player.

ManOnChair — With greater financial breathing room secured, Lannett is better positioned to move on opportunities • Source: Shutterstock

“We are pleased to have the support of our lenders and appreciate their confidence in Lannett, due in part to the excellent progress we are making expanding our pipeline and launching new products, while also reducing our costs.”

So said Lannett’s chief executive Tim Crew as the company announced a further amendment to the credit agreement it entered...