Lannett Elects to Pay Down USD 25m of Debt
13 February 2018 - - Philadelphia, Pennsylvania-based generic pharmaceuticals company Lannett Company, Inc. (NYSE: LCI) has voluntarily made a USD 25 m payment against its term loans, the company said.
"This USD 25m payment will save us approximately USD 1.7m in annualized cash interest expense, at current rates," said Tim Crew, chief executive officer of Lannett.
Lannett, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a range of medical indications.
The company offers solid oral, extended release, topical, nasal, and oral solution finished dosage forms of drugs that address a range of therapeutic areas, as well as ophthalmic, patch, foam, buccal, sublingual, soft gel, and injectable dosages.