Lannett Begins Marketing Chlorpromazine Hydrochloride Tablets
Lannett Company (NYSE: LCI) has commenced marketing Chlorpromazine Hydrochloride Tablets in various dosages, following FDA approval of its Abbreviated New Drug Application. The total U.S. sales for this product were approximately $120 million for the 12 months ending November 2020, although actual market values may be lower. CEO Tim Crew stated that these tablets, used for treating psychotic disorders, are expected to enhance the company’s product offerings with margins exceeding the company average.
- FDA approval obtained for Chlorpromazine Hydrochloride Tablets.
- Potential market for Chlorpromazine Hydrochloride Tablets estimated at $120 million.
- Expected to contribute higher than average margins.
- Actual generic market values expected to be lower than estimated sales.
- Risks associated with successful commercialization of the product.
PHILADELPHIA, Feb. 8, 2021 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has begun marketing Chlorpromazine Hydrochloride Tablets, USP, 10 mg, 25 mg, 50 mg, 100 mg and 200 mg. The company recently received approval from the U.S. Food and Drug Administration (FDA) of its Abbreviated New Drug Application (ANDA). Total U.S. sales of the product, according to IQVIA market, were approximately
"Chlorpromazine Hydrochloride Tablets, an internally developed product, is used to treat psychotic disorders such as schizophrenia or manic-depression in adults," said Tim Crew, chief executive officer of Lannett. "We expect Chlorpromazine Hydrochloride Tablets will be a solid addition to our product offering, with margins above our company average."
Chlorpromazine Hydrochloride Tablets, USP, 10 mg, 25 mg, 50 mg, 100 mg and 200 mg is the therapeutic equivalent of the reference listed drug Thorazine® Tablets10 mg, 25 mg, 50 mg, 100 mg and 200 mg of GlaxoSmithKline.
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 Chlorpromazine Hydrochloride Tablets, USP, 10 mg, 25 mg, 50 mg, 100 mg and 200 mg, 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.
Contact: | Robert Jaffe |
Robert Jaffe Co., LLC | |
(424) 288-4098 |
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SOURCE Lannett Company, Inc.
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