$LCI (Lannett Company, Inc.)

$LCI {{ '2016-08-24T06:42:13+0000' | timeago}} • Webcast

For 4Q16, $LCI's adjusted gross profit was 54% of net sales versus 73% of net sales in 4Q15, down mainly due to the addition of KU's lower margin business. Adjusted operating income grew versus 4Q15. At June 30, 2016, cash, cash equivalents and investment securities were $238.9MM and total debt outstanding was $1.16Bil.

$LCI {{ '2017-12-21T16:48:17+0000' | timeago}} • Announcement

$LCI BoD named Timothy C. Crew as the company's chief executive officer, effective January 2, 2018. He has over 25 years of experience in the generic and branded pharmaceutical industries. Crew will succeed Arthur Bedrosian, the current CEO.

$CELG {{ '2017-10-31T16:07:34+0000' | timeago}} • Announcement

In a confidential license agreement, $CELG and $LCI enter into a settlement related to Celgene's Thalomid drug, which is used to treat the plasma cell cancer. This agreement allows Lannett to manufacture and market a generic thalidomide product in the US from Aug. 1, 2019, or earlier under certain circumstances.

$LCI {{ '2017-10-02T12:26:03+0000' | timeago}} • Announcement

Pharma company $LCI said the FDA has approved its Abbreviated New Drug Applications for two variants of Lansoprazole Delayed-Release Capsules  -  the therapeutic equivalents to the respective doses of Prevacid Delayed-Release Capsules, manufactured by Takeda and GlaxoSmithKline. Prevacid is indicated for the treatment of excessive stomach acid.

$LCI {{ '2017-09-27T12:29:17+0000' | timeago}} • Announcement

$LCI got the FDA nod for its Abbreviated New Drug Application (ANDA) for Oxycodone and Acetaminophen Tablets, USP, 5 mg/325 mg and 10 mg/325 mg, part of the company’s pain management portfolio.

$LCI {{ '2017-09-26T12:33:03+0000' | timeago}} • Announcement

$LCI has received approval from the FDA for Dexmethylphenidate Hydrochloride Tablets, 2.5 mg, 5 mg, and 10 mg, used in the treatment of attention deficit and hyperactivity disorder. The tablet is expected to reach the market in a few months.

$LCI {{ '2017-09-25T12:01:59+0000' | timeago}} • Announcement

$LCI filed a 505(b)(2) New Drug Application with the FDA for Cocaine Hydrochloride (HCl) Topical Solution, its proprietary local anesthetic product. The solution is a proposed indication for the introduction of local (topical) anesthesia for diagnostic procedures and surgeries on or through the accessible mucous membranes of the nasal cavities.

$LCI {{ '2017-09-25T12:00:01+0000' | timeago}} • Announcement

$LCI's BoD begun a search for a new CEO. As part of the unanimously approved search process, the board has retained a leading executive search firm to identify potential candidates to assume the role of CEO, succeeding Arthur Bedrosian, who has agreed to step down once a new CEO is appointed. During process, Bedrosian will remain a member of BoD.

$LCI {{ '2017-09-05T12:56:38+0000' | timeago}} • Announcement

$LCI said it won the U.S. FDA's approval for its Abbreviated New Drug Application (ANDA) for Esomeprazole Magnesium Delayed-Release Capsules, USP in the strengths of 20mg and 40mg. This is used to treat gastroesophageal reflux disease.

$LCI {{ '2017-08-23T20:41:59+0000' | timeago}} • Announcement

While much of the industry is facing pricing pressures, $LCI expects its adjusted gross margins to continue to be above 50%, which exceeds the average of its peer companies. Planned product launches, combined with a number of initiatives $LCI has put in place, make the company confident in its near- and longer term growth.

$LCI {{ '2017-08-23T20:39:45+0000' | timeago}} • Announcement

$LCI expects FY18 net sales of $655-665MM, gross margin of 46-47% and adjusted gross margin of 51-52%. The company sees R&D expense of $46-48MM, SG&A expense of $75-77MM, interest expense of $88-89MM, effective tax rate of about 35% and capital expenditures of $65-75MM.

$LCI {{ '2017-08-23T20:39:32+0000' | timeago}} • Announcement

$LCI reported a rise in 4Q17 earnings driven by lower interest expense and narrower other loss as well as lower costs and expenses, despite a decline in net sales. Net income rose to $5.73MM or $0.15 per share from $3.59MM or $0.10 per share last year. Net sales dropped to $139.12MM from $168.89MM. Adjusted EPS decreased to $0.40 from $0.73.

$LCI {{ '2017-07-17T13:38:10+0000' | timeago}} • Announcement

Pharmaceutical company $LCI appointed Samuel H. Israel as  vice president, chief legal officer and general counsel. Prior to this, he served as the outside general counsel for 19 years, coordinating all aspects of the company's legal work.

$LCI {{ '2017-06-20T12:30:53+0000' | timeago}} • Announcement

$LCI appointed Patrick LePore to its BoD, effective July 1, 2017. The addition of LePore will increase the total number of directors to seven. Since 2007, LePore served as chairman, CEO and president of Par Pharmaceuticals, Inc., until the company's acquisition by private equity investor TPG in 2012.

$LCI {{ '2017-06-19T13:12:15+0000' | timeago}} • Announcement

$LCI received an approval from FDA for its Niacin extended-release tablets, which reduces LDL cholesterol and triglycerides and increases HDL cholesterol. The drug, which comes from $LCI's subsidiary Kremers Urban Pharmaceuticals, is expected to launch shortly, the company said.

$IPXL {{ '2017-03-31T10:43:08+0000' | timeago}} • Announcement

U.S. District Court of Delaware ruled in favor of $IPXL as they found that the U.S. patents 6,750,237 and 7,220,767 protecting the zolmitriptan nasal spray are not invalid and are infringed by the defendants Lannett Holdings, Inc. and $LCI.

$LCI {{ '2017-03-30T13:15:23+0000' | timeago}} • Announcement

$LCI made a $25MM payment against its existing revolving credit facility. This payment, combined with the $75MM payment made in January, is expected to save about $5.5MM in annualized cash interest expense, at current rates.

$LCI {{ '2017-02-07T17:40:48+0000' | timeago}} • Announcement

$LCI completed the extraction of the core software supporting the operations of Kremers Urban Pharmaceuticals, Inc. (KU) from UCB Pharma.

$LCI {{ '2017-01-23T14:58:26+0000' | timeago}} • Announcement

$LCI announced that the company voluntarily made a $75MM payment against its existing revolving credit facility. This payment will save $LCI approximately $4.1MM in annualized cash interest expense, at current rates.

$LCI {{ '2017-01-03T18:22:56+0000' | timeago}} • Announcement

$LCI received approval last week from the US Food and Drug Administration of its Abbreviated New Drug Application for Lopinavir and Ritonavir Oral Solution USP, 80 mg/20 mg per mL, the therapeutic equivalent to the reference listed drug, Kaletra Oral Solution of AbbVie Inc. Lopinavir and Ritonavir Oral Solution is indicated for HIV-1 infections.

$LCI {{ '2016-11-28T12:30:20+0000' | timeago}} • Announcement

$LCI received approval from the U.S. Food and Drug Administration of its Abbreviated New Drug Application (ANDA) for Metaxalone Tablets USP, 800 mg, the therapeutic equivalent to the reference listed drug, Skelaxin of King Pharmaceuticals Inc.

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