Lannett (NYSE:LCI) +3.7% after-hours upon disclosure that it approved a restructuring plan for Cody Laboratories, which will include reduction of all 70 remaining positions at the subsidiary.
LCI says it has been unable to sell the Cody API business as an ongoing operation and instead will ease all operations.
LCI estimates it will incur ~$5M of total costs to implement the Cody API restructuring plan.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.