Announcement • Jun 21
Lannett Company, Inc. Files Form 15 Lannett Company, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.001per share. Reported Earnings • Feb 03
Second quarter 2023 earnings released: US$0.88 loss per share (vs US$2.01 loss in 2Q 2022) Second quarter 2023 results: US$0.88 loss per share (improved from US$2.01 loss in 2Q 2022). Revenue: US$80.9m (down 6.5% from 2Q 2022). Net loss: US$36.3m (loss narrowed 55% from 2Q 2022). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has fallen by 58% per year, which means it is performing significantly worse than earnings. Announcement • Jan 26
Lannett Company, Inc. to Report Q2, 2023 Results on Feb 01, 2023 Lannett Company, Inc. announced that they will report Q2, 2023 results After-Market on Feb 01, 2023 Announcement • Jan 05
Lannett Company Provides Development Update on Biosimilar Insulin Products On January 4, 2023, Lannett Company, Inc. provided an update on the clinical advancement and development of its biosimilar insulin aspart and biosimilar insulin glargine products. Lannett is developing both products with its strategic alliance partner, the HEC Group of companies (HEC). The company said results from the study of Lannett/HEC biosimilar insulin aspart versus US NovoLog® (the reference biologic) indicated the products were highly comparable when animals were dosed with equal quantities of the drugs via subcutaneous route. Data from the study will be submitted to the FDA as part of the company's request, expected in the first half of calendar 2023, for a Biosimilar Biological Product Development (BPD) Type II meeting. The company also said that analysis of the pivotal trial results for its biosimilar insulin glargine continues, though it now anticipates top-line data to be available by the end of February 2023. Announcement • Nov 30
Lannett Company, Inc., Annual General Meeting, Jan 25, 2023 Lannett Company, Inc., Annual General Meeting, Jan 25, 2023, at 09:00 US Eastern Standard Time. Location: 1150 Northbrook Drive Trevose, PA 19053 Trevose Pennsylvania United States Agenda: To elect five (5) members of the board of directors (the “board”) to serve until the next annual meeting of stockholders; to ratify the selection of grant thornton, llp as independent auditors for the fiscal year ending june 30, 2023; to obtain a non-binding advisory vote on the compensation of the company’s executive officers; to approve a proposed amendment to Certificate of Incorporation (the “Certificate of Incorporation”); to approve one or more adjournments of the Annual Meeting to a later date or dates if necessary or appropriate to solicit additional proxies if there are insufficient votes to approve the Reverse Stock Split proposal at the time of the Annual Meeting or in the absence of a quorum; and to transact such other business as may properly come before the annual meeting or any adjournment thereof. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent Director Melissa Rewolinski was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
First quarter 2023 earnings released: US$0.68 loss per share (vs US$0.56 loss in 1Q 2022) First quarter 2023 results: US$0.68 loss per share (further deteriorated from US$0.56 loss in 1Q 2022). Revenue: US$75.1m (down 26% from 1Q 2022). Net loss: US$28.0m (loss widened 25% from 1Q 2022). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 1 percentage points per year. Reported Earnings • Aug 26
Full year 2022 earnings released: US$5.74 loss per share (vs US$9.23 loss in FY 2021) Full year 2022 results: US$5.74 loss per share (up from US$9.23 loss in FY 2021). Revenue: US$340.6m (down 29% from FY 2021). Net loss: US$231.6m (loss narrowed 36% from FY 2021). Over the next year, revenue is expected to shrink by 15% compared to a 6.6% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Board Change • Aug 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Independent Director Melissa Rewolinski was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 06
Third quarter 2022 earnings released: US$0.86 loss per share (vs US$0.18 loss in 3Q 2021) Third quarter 2022 results: US$0.86 loss per share (down from US$0.18 loss in 3Q 2021). Revenue: US$78.4m (down 30% from 3Q 2021). Net loss: US$34.9m (loss widened 389% from 3Q 2021). Over the next year, revenue is expected to shrink by 7.1% compared to a 8.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has fallen by 57% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 04
Second quarter 2022 earnings: EPS in line with expectations, revenues disappoint Second quarter 2022 results: US$2.01 loss per share (up from US$4.36 loss in 2Q 2021). Revenue: US$86.5m (down 35% from 2Q 2021). Net loss: US$81.1m (loss narrowed 53% from 2Q 2021). Revenue missed analyst estimates by 4.1%. Over the next year, revenue is expected to shrink by 1.1% compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 42% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Dec 03
Non-Executive Independent Chairman recently bought €76k worth of stock On the 29th of November, Patrick LePore bought around 50k shares on-market at roughly €1.52 per share. This was the largest purchase by an insider in the last 3 months. Patrick has been a buyer over the last 12 months, purchasing a net total of €201k worth in shares. Reported Earnings • Nov 05
First quarter 2022 earnings released: US$0.56 loss per share (vs US$0.17 loss in 1Q 2021) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2022 results: Revenue: US$101.5m (down 20% from 1Q 2021). Net loss: US$22.3m (loss widened 244% from 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Recent Insider Transactions • Sep 14
Independent Director recently sold €68k worth of stock On the 9th of September, Melissa Rewolinski sold around 25k shares on-market at roughly €2.69 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €77k more than they bought in the last 12 months. Reported Earnings • Aug 27
Full year 2021 earnings released: US$9.23 loss per share (vs US$0.86 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: US$478.8m (down 12% from FY 2020). Net loss: US$363.5m (loss widened US$330.1m from FY 2020). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 12% per year, which means it is performing significantly worse than earnings. Board Change • Aug 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. Independent Director Melissa Rewolinski was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jul 14
Lannett Company, Inc. Launches Fluvastatin Sodium ER Tablets Lannett Company, Inc. announced that it recently began marketing Fluvastatin Sodium Extended-release Tablets, 80 mg, a partnered product. Total U.S. sales of Fluvastatin Sodium Extended-release Tablets, 80 mg, according to IQVIA market, were approximately $10 million for the 12 months ending May 2021, although actual generic market values are expected to be lower. Fluvastatin Sodium Extended-release Tablets, the generic equivalent of Novartis' Lescol XL® Tablets, is used as an adjunct to diet to treat elevated cholesterol levels. Announcement • Jun 02
Lannett Announces FDA Acceptance, as a Priority Original Anda, of the Generic Advair Diskus Filing Lannett Company, Inc. announced the U.S. Food and Drug Administration (FDA) has accepted the Abbreviated New Drug Application (ANDA) for Fluticasone Propionate and Salmeterol inhalation powder (100/50 mcg, 250/50 mcg and 500/50 mcg), which was submitted by Lannett on behalf of its strategic alliance partner, Respirent Pharmaceuticals Co. Ltd. The FDA assigned a Generic Drug User Fee Act of 2017 (GDUFA II) goal date for this priority original ANDA of January 31, 2022. The product is the generic equivalent of ADVAIR DISKUS® of GlaxoSmithKline. Total U.S. sales of the product, according to IQVIA, were approximately $3 billion for the 12 months ending April 2021, although actual generic market values are expected to be lower. As previously announced, Lannett entered into an exclusive U.S. distribution agreement for the therapeutically equivalent generic of Advair Diskus of Respirent. Under the agreement, Lannett will commence U.S. distribution of the product after FDA approval and receive a portion of the net profits once it commences distribution of the product. The companies recently extended the term of the agreement to 12 years post commencement of distribution. ADVAIR DISKUS® and Flovent® Diskus® are registered trademarks of GlaxoSmithKline. Advair Diskus is indicated as a twice-daily treatment of asthma in patients aged four years and older and maintenance treatment of airflow obstruction in patients with chronic obstructive pulmonary disease (COPD). Flovent Diskus is an inhaled corticosteroid indicated for maintenance treatment of asthma as prophylactic therapy in patients aged four years and older. Recent Insider Transactions • May 13
Non-Executive Independent Chairman recently bought €69k worth of stock On the 11th of May, Patrick LePore bought around 20k shares on-market at roughly €3.44 per share. This was the largest purchase by an insider in the last 3 months. This was Patrick's only on-market trade for the last 12 months. Reported Earnings • May 07
Third quarter 2021 earnings released: US$0.18 loss per share (vs US$0.43 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$112.4m (down 22% from 3Q 2020). Net loss: US$7.14m (loss narrowed 57% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings. Announcement • May 06
Lannett Company, Inc. Provides Earnings Guidance for the Fiscal Year 2021 Lannett Company, Inc. provided earnings guidance for the fiscal year 2021. For the year, the company expects net sales to be in the range of $480 million to $500 million. Announcement • Mar 12
Lannett Development Of Biosimilar Insulin Glargine Product Continues To Advance Lannett Company, Inc. announced that it recently received feedback from the U.S. Food and Drug Administration (FDA) regarding biosimilar insulin glargine, a product the company is co-developing with its strategic alliance partners within the HEC Group of companies (HEC). Lannett sought and received comments from the FDA related to the pivotal trial protocol and statistical analysis plan (SAP) for the development program. At a Biosimilar Biological Product Development (BPD) Type 2 meeting in June 2020, representatives from Lannett spoke with and received guidance from the FDA on the clinical advancement program of its biosimilar insulin glargine partnered product candidate. At that meeting, FDA requested Lannett submit a protocol for the pivotal trial for review before Lannett submitted an Investigational New Drug Application (IND). In November 2020, the company responded to that request and provided the proposed protocol and SAP. The FDA recently provided its feedback and comments to the company's proposal and the company has now incorporated the feedback into the design of the pivotal trial, including the type and size of the trial, as well as primary and secondary endpoints, to meet the FDA's requirements. Is New 90 Day High Low • Feb 22
New 90-day low: €5.08 The company is down 1.0% from its price of €5.14 on 24 November 2020. The German market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.37 per share. Recent Insider Transactions • Feb 12
Independent Director recently sold €169k worth of stock On the 8th of February, David Drabik sold around 33k shares on-market at roughly €5.05 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €623k more than they bought in the last 12 months. Announcement • Feb 09
Lannett Company, Inc. Begins Marketing Chlorpromazine Hydrochloride Tablets Lannett Company, Inc. announced that it has begun marketing Chlorpromazine Hydrochloride Tablets, USP, 10 mg, 25 mg, 50 mg, 100 mg and 200 mg. The company recently received approval from the U.S. Food and Drug Administration (FDA) of its Abbreviated New Drug Application (ANDA). Total U.S. sales of the product, according to IQVIA market, were approximately $120 million for the 12 months ending November 2020, although actual generic market values are expected to be lower. Chlorpromazine Hydrochloride Tablets, USP, 10 mg, 25 mg, 50 mg, 100 mg and 200 mg is the therapeutic equivalent of the reference listed drug Thorazine® Tablets10 mg, 25 mg, 50 mg, 100 mg and 200 mg of GlaxoSmithKline. Reported Earnings • Feb 05
Second quarter 2021 earnings released: US$4.36 loss per share (vs US$0.13 profit in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and control over costs. Second quarter 2021 results: Revenue: US$133.9m (down 1.6% from 2Q 2020). Net loss: US$171.9m (down US$177.0m from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 35% per year, which means it is performing significantly worse than earnings. Analyst Estimate Surprise Post Earnings • Feb 05
Revenue beats expectations Revenue exceeded analyst estimates by 3.0%. Over the next year, revenue is expected to shrink by 5.6% compared to a 2.4% growth forecast for the Pharmaceuticals industry in Germany. Announcement • Feb 04
Lannett Company, Inc. Revises Guidance for Fiscal Year 2021 Lannett Company, Inc. revises guidance for fiscal year 2021. For the fiscal 2021, the company expects net sales to be $480 million to $500 million, down from $520 million to $545 million, Gross margin to be Approximately 14% to 16%, down from approximately 23% to 25%. Announcement • Jan 28
Lannett Company, Inc. to Report Q2, 2021 Results on Feb 03, 2021 Lannett Company, Inc. announced that they will report Q2, 2021 results After-Market on Feb 03, 2021 Is New 90 Day High Low • Jan 27
New 90-day high: €6.46 The company is up 21% from its price of €5.33 on 29 October 2020. The German market is also up 21% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Pharmaceuticals industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €28.73 per share. Announcement • Dec 10
Lannett Company, Inc., Annual General Meeting, Jan 27, 2021 Lannett Company, Inc., Annual General Meeting, Jan 27, 2021, at 09:00 US Eastern Standard Time. Agenda: To elect seven (7) members of the board of directors to serve until the next annual meeting of stockholders; to ratify the selection of Grant Thornton, LLP as independent auditors for the fiscal year ending June 30, 2021; to obtain a non-binding advisory vote on the compensation of the company’s executive officers; to approve the Lannett Company, Inc. 2021 Long-Term Incentive Plan; and transact such other business as may properly come before the annual meeting or any adjournment thereof. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue misses expectations Revenue missed analyst estimates by 1.9%. Over the next year, revenue is expected to shrink by 1.3% compared to a 3.2% growth forecast for the Pharmaceuticals industry in Germany. Reported Earnings • Nov 07
First quarter 2021 earnings released: US$0.17 loss per share The company reported a decent first quarter result with reduced losses and improved control over expenses, although revenues were flat. First quarter 2021 results: Revenue: US$126.5m (flat on 1Q 2020). Net loss: US$6.50m (loss narrowed 47% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Is New 90 Day High Low • Nov 05
New 90-day high: €5.91 The company is up 16% from its price of €5.10 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €22.42 per share. Announcement • Nov 04
Lannett Launches Authorized Generic of Tirosint® (Levothyroxine Sodium Capsules) Lannett Company, Inc. announced that it has commenced the launch of the authorized generic of Tirosint® (Levothyroxine Sodium Capsules USP). Lannett entered into an exclusive U.S. distribution agreement with IBSA Institut Biochimique SA. Under the agreement, Lannett will primarily provide sales, marketing and distribution support for the product, for which it will receive a share of the profits. Other financial terms were not disclosed. Levothyroxine Sodium Capsules USP is the authorized generic of Tirosint® of IBSA Institut Biochimique SA. Announcement • Oct 29
Lannett Company, Inc. to Report Q1, 2021 Results on Nov 04, 2020 Lannett Company, Inc. announced that they will report Q1, 2021 results at 5:00 PM, Eastern Standard Time on Nov 04, 2020 Is New 90 Day High Low • Oct 14
New 90-day high: €5.84 The company is up 31% from its price of €4.47 on 16 July 2020. The German market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €24.71 per share. Announcement • Oct 05
Lannett Co. Inc. to Report Q2, 2010 Results on 02/08/2010 Lannett Co. Inc. announced that they will report Q2, 2010 results on 02/08/2010 Announcement • Aug 20
Lannett Company, Inc. to Report Q4, 2020 Results on Aug 26, 2020 Lannett Company, Inc. announced that they will report Q4, 2020 results at 5:00 PM, Eastern Standard Time on Aug 26, 2020 