Lannett signs contract with Elite Pharmaceuticals
1 July 2019 -

Lannett Company Inc (NYSE: LCI), a company that develops, manufactures, packages, markets and distributes generic pharmaceutical products, has signed a three-year agreement with Elite Pharmaceuticals, a specialty pharmaceutical company, to be the exclusive United States distributor of Dantrolene Capsules 25mg, 50mg and 100mg, it was reported on Friday.

According to the contract, Lannett will mainly offer sales, marketing and distribution support for the product, for which it will receive a share of the profits. Other financial terms were not revealed.

Tim Crew, chief executive officer of Lannett, said, 'We have commenced the distribution of Dantrolene, for which the market is currently comprised of a small number of competitors. While the sales potential for this product is modest, adding Dantrolene to our portfolio demonstrates our commitment to our customers and patients, as well as our success in expanding relationships with existing strategic partners. This is our second transaction with Elite.'