LONDON, UK / ACCESSWIRE / July 17, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Lannett Co., Inc. (NYSE: LCI), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=LCI. The Philadelphia based Company announced on July 14, 2017, that it has received consent from the US Food and Drug Administration (FDA) of its Abbreviated New Drug Application (ANDA) for Cyproheptadine Hydrochloride Syrup (Cyproheptadine Hydrochloride Oral Solution, USP) 2 mg/5 mL, the therapeutic equivalent to the reference standard drug, Cyproheptadine Hydrochloride Syrup (Cyproheptadine Hydrochloride Oral Solution USP) by Lyne Laboratories, Inc. The product was previously marketed under the brand name Periactin® Syrup, 2 mg/5 mL of Merck and Co., Inc. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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According to IMS, the total US sales of Cyproheptadine Hydrochloride Syrup, 2 mg/5 ml, at Average Wholesale Price (AWP) was approximately $6 million for the 12 months ending in May 2017.
Cyproheptadine Hydrochloride Syrup Uses
The drug is used for the treatment of allergic reactions caused by seasonal allergies, food, blood or plasma. It is also used to treat mild, uncomplicated hives.
Approval Helped in Portfolio Expansion
Arthur Bedrosian, Chief Executive Officer of Lannett Co., exclaimed that the approval of Cyproheptadine Hydrochloride Syrup helped the company in expanding its portfolio of medications in liquid dosage form. He further expressed that through Lannett Co.'s wholly owned subsidiary, Silarx Pharmaceuticals, it develops and manufactures oral solution drug products, thereby differentiating Lannett from other generic drug companies. Oral solution products also act as key driver of Lannett Co.'s growth strategy, and the Company caters to the needs of the aging baby boomer population. Over the last two months, the Company has received six product approvals.
Approval of Other Drugs in 2017
As per the news releases, Lannett Co. received the approval for Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/325 mg, 7.5 mg/325 mg and 10 mg/325 mg, the therapeutic equivalent to the reference listed drug, Hydrocodone Bitartrate and Acetaminophen Tablets USP, 5 mg/300 mg, 7.5 mg/300 mg and 10 mg/300 mg, of Mikart, Inc, and Amantadine Hydrochloride Capsules USP, 100 mg, the therapeutic equivalent to the reference standard drug, Amantadine Hydrochloride Capsules USP, 100 mg, of Sandoz Pharmaceuticals, from FDA on June 26 and June 19, 2017, respectively.
On May 16, 2017, Lannett Co., also announced the approval of its ANDA for Levocetirizine Dihydrochloride Oral Solution, 2.5 mg/5 mL (0.5 mg/mL), the therapeutic equivalent to the reference listed drug, Xyzal® Oral Solution, 2.5 mg/5 mL (0.5 mg/mL), of UCB Inc, from the FDA
About Lannett Co., Inc.
Lannett Co. develops, manufactures, and distributes high qualitygeneric prescription pharmaceutical products in tablet, capsule, and oral liquid forms to customers throughout the United States. Lannett markets its products primarily to drug wholesalers, retail drug chains, distributors, and government agencies. The Company was established in 1942.
Last Close Stock Review
On Friday, July 14, 2017, the stock closed the trading session at $22.70, climbing 6.57% from its previous closing price of $21.30. A total volume of 648.34 thousand shares has exchanged hands. Lannett's stock price surged 22.37% in the last one month and 11.55% in the previous six months. Furthermore, since the start of the year, shares of the Company have gained 2.95%. The stock currently has a market cap of $792.91 million.
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SOURCE: Pro-Trader Daily