PHILADELPHIA, Dec. 12, 2019 /PRNewswire/ -- Lannett
Company, Inc. (NYSE: LCI) today announced that it expects to
commence marketing in the coming months a generic version of
Adderall XR®, an extended-release mixed salt of a single
entity Amphetamine tablet product (Dextroamphetamine Saccharate,
Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine
Sulfate), with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg and 30
mg tablets. Adderall XR® including generic versions have
an estimated IQVIA market value of approximately $1.3 billion for the 12 months ending
October 2019, although actual generic
market values are expected to be lower.
"Our strategic alliance partners already have received FDA
approval for generic Adderall XR®, paving the way for a
near-term launch," said Tim Crew,
chief executive officer of Lannett. "Generic Adderall
XR® complements our previously launched generic
Adderall® immediate release (IR) and is included in the
dozen or so products we expect to launch by the end of our current
fiscal year. While the Adderall XR market is sizable, there
currently are several generic suppliers for this
product."
In March 2019, Lannett entered
into an agreement with Elite Pharmaceuticals and SunGen Pharma to
be the exclusive U.S. distributor of certain drug products,
including generic Adderall® IR and generic Adderall
XR®. Under the agreement, Lannett primarily provides
sales, marketing and distribution support for the products, for
which it receives a share of the profits.
Adderall XR®, a registered trademark of Shire Plc, is
a central nervous system (CNS) stimulant, indicated for the
treatment of Attention Deficit Hyperactivity Disorder (ADHD) and
Narcolepsy.
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 statement, including, but not limited
to, successfully commercializing generic Adderall
XR®, whether expressed or implied, is subject to
market and other conditions, and 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 risk factors discussed in the Company's
Form 10-K and other documents filed with the SEC from time to time,
including the prospectus supplement related to the proposed
offering to be filed with the SEC. 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.
Lannett Contact:
Robert Jaffe
Robert Jaffe Co., LLC
(424) 288-4098
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SOURCE Lannett Company, Inc.