Lannett Company Inc (LCI, Financial) filed Annual Report for the period ended 2009-06-30.
Lannett Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition the Company contract manufactures and private labels pharmaceutical products for other companies. Lannett Company Inc has a market cap of $196.63 million; its shares were traded at around $8.14 with a P/E ratio of 30.85 and P/S ratio of 1.65.
All of our products currently manufactured and/or sold are prescription products. Of the products listed in the table entitled Current Products below, those containing Levo, Digoxin, Butalbital and Primidone were our key products, collectively accounting for approximately 72%, 83% and 70% of our net sales in fiscal years 2009, 2008 and 2007, respectively. In fiscal year 2006, we began selling Sulfamethoxazole w/ Trimethoprim (SMZ/TMP). Because of a market opportunity, our sales of SMZ/TMP increased from 3% of our net sales in fiscal year 2006 to 19% of our net sales in fiscal year 2007, but declined to 9% of our net sales in fiscal year 2008. SMZ/TMP is not factored among our key products because the applicable supply agreement expired in August 2008 and was not renewed.
The manufacturing facility of our wholly-owned subsidiary, Cody Labs, consists of an approximately 73,000 square foot structure located on approximately 16.2 acres in Cody, Wyoming. Cody Labs leases the facility from Cody LCI Realty, LLC, Wyoming, which is 50% owned by us and 50% by an officer of Cody Labs and his former spouse. Cody Labs manufacturing facility currently has capacity for further expansion, both inside the existing structure, as well as by building out the current structure.
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Lannett Inc. manufactures and distributes pharmaceutical products sold under generic names and historically has manufactured and distributed pharmaceutical products sold under its trade or brand names. In addition the Company contract manufactures and private labels pharmaceutical products for other companies. Lannett Company Inc has a market cap of $196.63 million; its shares were traded at around $8.14 with a P/E ratio of 30.85 and P/S ratio of 1.65.
Highlight of Business Operations:
According to data reported by IMS Health in June 2009, we are among the top 15 companies, based on number of prescription transactions, for unbranded generic products in the United States. We intend to grow our business organically as well as through strategic partnerships. Additionally, our Levothyroxine Sodium tablets (Levo) were recognized by IMS Health as the 19th most prescribed pharmaceutical product, including both branded and generic products, in the U.S., reaching approximately 21 million prescriptions through June 2009. Our product line represents approximately 0.5% of the domestic prescription market. Over the last year, we have experienced a 10% growth in prescriptions for our products. In addition, Levo has experienced a 16% annual growth during that period.All of our products currently manufactured and/or sold are prescription products. Of the products listed in the table entitled Current Products below, those containing Levo, Digoxin, Butalbital and Primidone were our key products, collectively accounting for approximately 72%, 83% and 70% of our net sales in fiscal years 2009, 2008 and 2007, respectively. In fiscal year 2006, we began selling Sulfamethoxazole w/ Trimethoprim (SMZ/TMP). Because of a market opportunity, our sales of SMZ/TMP increased from 3% of our net sales in fiscal year 2006 to 19% of our net sales in fiscal year 2007, but declined to 9% of our net sales in fiscal year 2008. SMZ/TMP is not factored among our key products because the applicable supply agreement expired in August 2008 and was not renewed.
The manufacturing facility of our wholly-owned subsidiary, Cody Labs, consists of an approximately 73,000 square foot structure located on approximately 16.2 acres in Cody, Wyoming. Cody Labs leases the facility from Cody LCI Realty, LLC, Wyoming, which is 50% owned by us and 50% by an officer of Cody Labs and his former spouse. Cody Labs manufacturing facility currently has capacity for further expansion, both inside the existing structure, as well as by building out the current structure.
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