Lannett Company Inc. (fka LCINQ)

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$LCI - Lannett Launches Morphine Sulfate Oral Solution:

Lannett Company Inc.Posted on:11 Aug 11

Lannett Company, Inc. (NYSE AMEX: LCI) today announced that it has commenced shipping of its Morphine Sulfate Oral Solution product. The company received approval from the U.S. Food and Drug Administration (FDA) for its 505(b)(2) New Drug Application (NDA) on June 23, 2011. Sales of Morphine Sulfate Oral Solution for the last 12 months at Average Wholesale Price (AWP) were approximately $31.7 million, according to Wolters Kluwer.

“This is our first drug approval using a 505(b)(2) application,” said Arthur P. Bedrosian, president and chief executive officer of Lannett. “We have received orders from drug wholesalers, nursing home providers and distributors.”


Link:
http://www.pharmiweb.com/pressreleases/pressrel.asp?ROW_ID=45543