Lannett Enters Into Consulting Agreement With Former CEO, Arthur Bedrosian

PHILADELPHIA, Feb. 1, 2018 /PRNewswire/ -- Lannett Company, Inc. (NYSE: LCI) today announced that it has entered into a consulting agreement with Arthur P. Bedrosian, the company's former chief executive officer. 

Under the agreement, Bedrosian will work with the company on several important projects primarily involving existing and new partnering efforts to expand and diversify opportunities, including but not limited to spearheading the effort to transition and strengthen the company's existing contractual relationships with its key partners.

"We are pleased to be able to benefit from Arthur's more than 40 years in the generic drug industry and the deep connections he has developed with our strategic partners and the financial community," said Tim Crew, Lannett's recently appointed chief executive officer.  "I look forward to working closely with him to not only transition but strengthen these relationships."

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 statements, including, but not limited to, successfully transitioning and strengthening relationships with key partners, whether expressed or implied, are 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 difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, including acquired products, and Lannett's estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company's Form 10-K and other documents filed with the Securities and Exchange Commission from time to time.  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.

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SOURCE Lannett Company, Inc.