Lannett Co. Inc. shares rose 4.5% to $1.62 premarket after the generic pharmaceutical company said the U.S. Food and Drug Administration said it could proceed with a proposed clinical investigation for biosimilar insulin glargine.
The company said it expects the pivotal clinical trial to start by March and be completed by early 2023.
If the trial is successful, the company said it anticipates filing the biologics license application in early 2023 and potentially launching the product by early 2024.
Glargine is a product the company is co-developing with its strategic alliance partners within the HEC Group of companies.
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