Lannett Launches Fluvastatin Sodium ER Tablets

Rhea-AI Summary

Lannett Company (NYSE: LCI) has launched Fluvastatin Sodium Extended-release Tablets, 80 mg, marking its entry into a modest market valued at $10 million for the year ending May 2021. The product serves as a generic alternative to Novartis' Lescol XL and is designed to aid in managing elevated cholesterol levels. Currently, only one competitor markets this generic in the U.S. CEO Tim Crew emphasized the company’s commitment to providing affordable medication options.

Positive

• Launch of Fluvastatin Sodium Extended-release Tablets presents a new revenue stream.
• Total U.S. sales for this product were approximately $10 million in the past year.

Negative

• Market potential for Fluvastatin Sodium is described as modest, which may limit revenue growth.
• Only one other competitor is in the market, indicating limited competition but also limited demand.

PHILADELPHIA, July 12, 2021 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it recently began marketing Fluvastatin Sodium Extended-release Tablets, 80 mg, a partnered product. Total U.S. sales of Fluvastatin Sodium Extended-release Tablets, 80 mg, according to IQVIA market, were approximately $10 million for the 12 months ending May 2021, although actual generic market values are expected to be lower.

"Although the market potential is modest, we are pleased to offer an affordable Fluvastatin alternative to our customers," said Tim Crew, chief executive officer of Lannett. "Currently, only one other competitor markets generic Fluvastatin Sodium Extended-release Tablets, 80 mg, in the U.S."

Fluvastatin Sodium Extended-release Tablets, the generic equivalent of Novartis' Lescol XL^® Tablets, is used as an adjunct to diet to treat elevated cholesterol levels.

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 Fluvastatin Sodium Extended-release Tablets, 80 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.

FAQ

What is Lannett's latest product announcement regarding Fluvastatin Sodium (LCI)?

Lannett announced the launch of Fluvastatin Sodium Extended-release Tablets, 80 mg.

What is the market size for Fluvastatin Sodium Extended-release Tablets (LCI)?

The total U.S. market sales were approximately $10 million for the year ending May 2021.

Who is the CEO of Lannett Company announcing the Fluvastatin launch (LCI)?

Tim Crew is the CEO of Lannett Company.

What is the purpose of Fluvastatin Sodium Extended-release Tablets (LCI)?

The tablets are used to treat elevated cholesterol levels as an adjunct to diet.

How many competitors are there for Fluvastatin Sodium in the U.S. market (LCI)?

Currently, only one other competitor markets the generic Fluvastatin Sodium Extended-release Tablets.