Lannett Company, Inc. (NYSE: LCI) today announced that it commenced marketing five new products in its recently completed fiscal 2019 first quarter, bringing to 12 the total number of products launched since January 1, 2018.
The five products, all launched in the quarter ended September 30, 2018, include Methylphenidate ER Capsules (the authorized generic equivalent of Metadate CD), Esomeprazole DR Capsules, Buprenorphine plus Naloxone Sublingual Tablets and two pain management products. The five products have an estimated IMS market value of approximately $1.6 billion, although actual generic market values are expected to be lower. From January 1, 2018 to June 30, 2018, the company launched seven new products.
‘Adding products to our offering is a key component of our growth plan,’ said Tim Crew, chief executive officer of Lannett. ‘We still have as many as 20 products, of which eight have already received FDA approval, that we anticipate we will launch over the next 12 months. In addition, we are in active discussions to acquire and/or in-license products from various partners. Thus, our goal is to maintain this recent cadence of product launches for the foreseeable future.’
Earlier this year, the company acquired Metadate CD from UCB, S.A.
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