Lannett: Pricing Pressure ‘Intensified Beyond Historical Norms’
OTC, Rx Generics Firm ‘Not Sitting Back’ To Address Challenges
Not many firms report a negative EBITDA when adjusted for costs, but this Lannett's fate during its FY2022 Q2. Management addressed challenges for Lannett’s base business and the ways in which it intends to turn the tide in the coming years.
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US firm has received a notice of non-compliance from NYSE due to price of company’s shares. Lannett insists there is no immediate impact, but it is evaluating options, including “transactions that are subject to approval of Lannett’s stockholders.”
Lannett says it is ready to kick off the pivotal clinical trial for the biosimilar insulin glargine candidate it is developing with HEC, after the US FDA completed the safety review of the product’s investigational new drug application.
Lannett is once again taking the axe to its operations in order to tighten its focus and save on costs, including the planned divestment of its liquids generics manufacturing facility in Carmel, NY.