Lannett to acquire 24 Endo generics
Endo is selling 23 approved and one pending generic drug application to Philadelphia-based Lannett. The deal, which required cash upfront and milestone payments in the future, adds to Lannett’s portfolio various oral solutions and semi-solid products that had more than $175 million in sales for the 12 months ended in March, according to IQVIA data.
"This transaction perfectly dovetails with our strategy to grow our top and bottom lines and diversify our product offering by complementing internal development efforts with the acquisition of commercially ready products,” Lannett CEO Tim Crew said. “The acquired products, combined with our planned launches of our previously approved and other recently acquired products, create new, near-term revenue and profitability streams.
Crew noted that Lannett is aiming to launch the products under its label once the transfer activities were complete and the appropriate regulatory filings are made — likely in the second half of 2019.. He also said the products would be manufactured at its Carmel, N.Y., liquid generics facility.
"This transaction perfectly dovetails with our strategy to grow our top and bottom lines and diversify our product offering by complementing internal development efforts with the acquisition of commercially ready products,” Lannett CEO Tim Crew said. “The acquired products, combined with our planned launches of our previously approved and other recently acquired products, create new, near-term revenue and profitability streams.
Crew noted that Lannett is aiming to launch the products under its label once the transfer activities were complete and the appropriate regulatory filings are made — likely in the second half of 2019.. He also said the products would be manufactured at its Carmel, N.Y., liquid generics facility.