PHILADELPHIA, May 27, 2016 /PRNewswire/ -- Lannett Company,
Inc. (NYSE: LCI) today announced that it has completed the
repurchase of $50 million of the
$250 million aggregate principal
amount of the 12% Senior Notes due in 2023 in open market
transactions. Yesterday, the company announced its intention
to repurchase the notes.
"We plan to continue to delever our outstanding debt and, as a
result, further reduce our interest expense," said Arthur Bedrosian, chief executive officer of
Lannett. "Our cost savings plan remains on track, the
integration of Kremers Urban is proceeding on schedule and our
business continues to be strong."
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, the continued pay down of debt, cost savings plan remains on
track, the integration of Kremers Urban is proceeding on schedule
and business is strong, 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, including acquired products, and 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.
Contact:
|
Robert
Jaffe
|
|
Robert Jaffe
Co., LLC
|
|
(424)
288-4098
|
Logo - http://photos.prnewswire.com/prnh/20150417/199461LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lannett-completes-50-million-pay-down-of-12-senior-notes-300275993.html
SOURCE Lannett Company, Inc.