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Lannett Hits A High After Loss Of Levothyroxine

Company Plans To Launch Several New Products By End Of June

 
• By Akriti Seth

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.

Coming_Soon
Lannett’s pipeline has 20 products in development and 17 pending ANDAs • Source: Shutterstock

Lannett says it is satisfied with its reported sales of $144.4m for the third quarter of its financial year ending in June 2020, despite this representing a 16.4% drop compared to the $172.8m reported for the third quarter of fiscal 2019.

CEO Tim Crew explained that after losing the distribution deal for highly profitable thyroid drug levothyroxine – when former partner Jerome Stevens chose to switch its supply contract to Amneal in March 2019 – the reported third-quarter

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