Lannett to distribute levothyroxine sodium
Lannett has entered into an exclusive supply and distribution agreement with Neolpharma Pharmaceutical Group's Cediprof subsidiary for levothyroxine sodium tablets.
Lannett will begin distributing the product no later than Aug. 1, 2022. Lannett will make an upfront payment of $20 million within the next five business days and will receive a portion of the net profits once it commences distribution of the product, the company said.
The term of the agreement is 10 years, which begins upon commencement of distribution. Other terms were not disclosed.
"The levothyroxine product covered under the agreement includes all 12 currently marketed dosage strengths, is FDA approved and presently commercialized by another party," Lannett CEO Tim Crew said, adding, "We know well the market dynamics for levothyroxine, and look forward to re-entering the space, especially with Cediprof's high-quality product. Levothyroxine is one of the most widely prescribed drugs in the United States. and continues to be a critically important medication for thyroid deficiency."
Lannett will begin distributing the product no later than Aug. 1, 2022. Lannett will make an upfront payment of $20 million within the next five business days and will receive a portion of the net profits once it commences distribution of the product, the company said.
The term of the agreement is 10 years, which begins upon commencement of distribution. Other terms were not disclosed.
"The levothyroxine product covered under the agreement includes all 12 currently marketed dosage strengths, is FDA approved and presently commercialized by another party," Lannett CEO Tim Crew said, adding, "We know well the market dynamics for levothyroxine, and look forward to re-entering the space, especially with Cediprof's high-quality product. Levothyroxine is one of the most widely prescribed drugs in the United States. and continues to be a critically important medication for thyroid deficiency."