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Lannett Generics Company Intelligence Report
Espicom Business Intelligence Ltd, Jan 2011, Pages: 10
Founded in 1942, Lannett is headquartered in Philadelphia, Pennsylvania, and began trading on the American Stock Exchange in 2002. The company manufactures and distributes generics, and historically has sold them under trade or brand names.
Lannett tries to avoid going down the route of developing off-patent blockbuster drugs, but looks instead to developing other generic drugs with more secure markets and less competition. Additionally, the company pursues long-term alliances with API suppliers. Lannett also licenses the marketing of its products to other manufacturers.
Lannett reported net sales worth US$119.0 million in fiscal 2009, up from US$72.4 million a year earlier. The firm cited increased sales of drugs to treat thyroid deficiency and heart failure, along with the introduction of prenatal vitamins. The firm reported that sales had risen by 164% between fiscal year 2005 and fiscal year 2009.
The firm reported in June 2009 that over the previous five years it had experienced a 164% growth in its revenues from around US$45 million in fiscal year 2005 to over US$119 million in fiscal year 2009. Lannett commented that the rapid growth had been achieved through strategic partnerships and opportunities resulting from certain difficulties its competitors had experienced with regulatory compliance.
In 2004, the firm entered into an exclusive distribution agreement with Jerome Stevens Pharmaceuticals covering four product lines. Two of these accounted for around 62% of net sales in fiscal year 2009. In 2008, Lannett completed its acquisition of Cody Laboratories, which became one of seven companies in the US to be granted a licence from the DEA to directly import raw poppy straw
Executive Summary
Espicom's generics company reports will help you to understand the dynamic and complex issues affecting the business of leading generic industry players. These informative reports provide an insight into the company, covering the structure of the business, the most recent quarterly and annual financial results, information on the company's active product lines and ANDA approvals, along with a review of major developments, such as M&A activity, strategic alliances, and litigation.
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