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August 20, 2014
10:08 EDTLCILannett does not expect study to significantly impact Digoxin sales
Lannett commented on the utilization of Digoxin, following a recently published abstract in the Journal of the American College of Cardiology, which suggested a potential increased risk of mortality in patients with newly diagnosed atrial fibrillation. The abstract was based on data of the TREAT-AF study from the U.S. Department of Veterans Affairs healthcare system, the company said. "Digoxin has long been an important treatment option for cardiovascular disease,” said Arthur Bedrosian, CEO of Lannett. “As with most medications, we believe medical care providers will continue to prescribe Digoxin unless a more effective alternative medication is available. The company said it does not expect prescriptions of Digoxin to be significantly impacted by the findings of the JACC study. Digoxin currently represents less than 10 percent of the company’s net revenues." Bedrosian went on to say that the company has "implemented a comprehensive strategy to expand and diversify its product offering by developing products internally, forming strategic alliances and acquiring products complementary to its business."
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November 27, 2015
06:57 EDTLCILannett completes acquisition of Kremers Urban for roughly $1.23B
Lannett Company (LCI) announced that it has completed the acquisition of Kremers Urban Pharmaceuticals, the U.S. specialty generic pharmaceuticals subsidiary of global biopharmaceuticals company UCB S.A. (UCBJY). Lannett has acquired KU from UCB for total consideration of approximately $1.23B, subject to certain adjustments, including a customary working capital adjustment, a deduction of certain reimbursable amounts payable in connection with the financing of the transaction, and a reduction for any indebtedness and unpaid transaction expenses of KU existing at closing. In connection with the transaction, Lannett issued to UCB $200M senior unsecured notes along with 2.5M warrants, which may be net settled. UCB will also be eligible to receive contingent payments for Methylphenidate HCI ER when the product's AB rating is restored. The combined company generated pro-forma revenues of more than $800M for the 12 months ended June 30, 2015. KU brings a diversified commercial product portfolio of 18 products; a strong pipeline that includes 11 product applications pending at the FDA.

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