PHILADELPHIA, March 31, 2020 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has commenced marketing a generic version of Adderall XR®, an extended-release mixed salt of a single entity Amphetamine capsule product (Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, Amphetamine Sulfate), with strengths of 5 mg, 10 mg, 15 mg, 20 mg, 25 mg and 30 mg capsules. Adderall XR® and its generic versions have an estimated IQVIA market value of approximately $1.3 billion for the 12 months ending January 2020, although actual generic market values are expected to be lower.
The company also said that in the last three months it has launched a total of five products. In addition to generic Adderall XR, the four other products include Propranolol ER, Lactulose Oral Solution, Nystatin Suspension and Numbrino® (Cocaine Hydrochloride Nasal Solution 4%), the company's branded local anesthetic product, recently approved by the FDA.
"Generic Adderall XR® extends our offering of treatments for Attention Deficit Hyperactivity Disorder (ADHD)," said Tim Crew, chief executive officer of Lannett. "As we have previously noted, while the market for Adderall XR is sizable, there currently are several generic suppliers for this product. Our entire team continues to work diligently to bring more affordable medicines to patients."
In March 2019, Lannett entered into an agreement with Elite Pharmaceuticals and SunGen Pharma to be the exclusive U.S. distributor of certain drug products, including generic Adderall® IR and generic Adderall XR®. Under the agreement, Lannett primarily provides sales, marketing and distribution support for the products, for which it receives a share of the profits.
Adderall XR®, a registered trademark of Shire Plc, is a central nervous system (CNS) stimulant, indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and Narcolepsy.
About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of medical indications. For more information, visit the company's website at www.lannett.com.
This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Any such statement, including, but not limited to, successfully commercializing generic Adderall XR®, Propranolol ER, Lactulose Oral Solution, Nystatin suspension and Numbrino®, whether expressed or implied, is subject to market and other conditions, and subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the risk factors discussed in the Company's Form 10-K and other documents filed with the SEC from time to time, including the prospectus supplement related to the proposed offering to be filed with the SEC. These forward-looking statements represent the Company's judgment as of the date of this news release. The Company disclaims any intent or obligation to update these forward-looking statements.
Robert Jaffe Co., LLC
SOURCE Lannett Company, Inc.