Lannett Comments On Amended Civil Complaint

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PR Newswire 1-Nov-2017 6:53 AM
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PHILADELPHIA, Nov. 1, 2017 /PRNewswire/ --Lannett Company, Inc. (NYSE: LCI) today responded to the allegations in the amended civil complaint by a number of states' attorneys general pending in the U.S. District Court for the Eastern District of Pennsylvania against a number of sellers of generic pharmaceuticals involving a number of products.

Lannett has reviewed the complaint and believes the price fixing allegations regarding the single product named in the complaint that Lannett sells are meritless. The company intends to vigorously defend the claims in the lawsuit.
About Lannett Company, Inc.: Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications. For more information, visit the company's website at www.lannett.com.
This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Any such statements, including, but not limited to, management's belief that the price fixing allegations regarding the single product named in the complaint that Lannett sells are meritless, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, Lannett's estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company's Form 10-K and other documents filed with the Securities and Exchange Commission from time to time. These forward-looking statements represent the company's judgment as of the date of this news release. The company disclaims any intent or obligation to update these forward-looking statements.
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Contact: Robert Jaffe
Robert Jaffe Co., LLC
(424) 288-4098
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SOURCE Lannett Company, Inc.