Lannett Company To Reassess Its 2016 Guidance - Quick Facts

(RTTNews) - Lannett Company, Inc. (LCI) announced it is reviewing sales projections for fiscal 2016 as the company is experiencing unanticipated market softness. The company expects to issue an updated fiscal 2016 full-year guidance by the end of next week.

Arthur Bedrosian, CEO of Lannett, said: "We are reviewing a number of factors that have or are expected to impact our business in the near-term, the net effect of which we expect to be modest. These factors include a mild flu season, some reduction in sales of our authorized generic Tussionex product due to a change by the FDA in the classification of hydrocodone combination products to Schedule II and additional competition for our Ursodiol product, as well as delays to certain anticipated product launches in our fiscal 2016 third and fourth quarters."

Lannett also announced its subsidiary, Kremers Urban Pharmaceuticals Inc., and a key customer are in the process of re-establishing business relations.