Lannett Company, Inc. (NYSE: LCI) announced that it has entered into an agreement with Adare Pharmaceuticals, Inc., to be the exclusive U.S. distributor of Dexmethylphenidate Hydrochloride Extended Release (ER) Capsules USP (CII), 5 mg, 10 mg, 15 mg, 20 mg, 25 mg, 30 mg, 35 mg and 40 mg. Lannett expects to commence marketing within a few months (see also Lannett Company Inc.).
“This transaction reinforces a key element of our growth plan and complements our internal product development efforts with ready-now products,” said Tim Crew, chief executive officer of Lannett. “We are delighted to be working with Adare and impressed with their proprietary technologies and product development capabilities. Our agreement with Adare initially includes one product; we will look to expand the relationship over time. We also continue to evaluate a number of transactions, all of which are intended to further expand our product offering, enhance our top and bottom lines and fortify our cash position.”
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