Lannett Company Inc. [NYSE: LCI] has announced the launch of Cediprof Inc.’s FDA approved Levothyroxine Sodium Tablets USP. The company has earlier inked the temporary exclusive supply and distribution agreement for Levothyroxine with Cediprof Inc.
Previously, Lannett has disclosed that it is anticipating to start the distribution of Levothyroxine Tablets in the US on August 3. Today the Lannett Inc. has introduced the Levothroxyine Tablet which is FDA approved.
Lannett Company, Inc.’s shares soared 1.07% and up +0.06 during the trading of Monday. It has opened at $6.00 and has a closing price of $6.01. Lannett has a day low range of $5.95 and a high range of $6.02. It had a trading volume of 32.63K and an average volume of 723.85K.
In the past 52-weeks of trading, Lannett’s shares have fluctuated between the low of $4.89 and a high of $15.52. It has moved up 21.68% from its 52-weeks low and moved down -61.66% from its 52-weeks high.
If we look at its profitability, its return on assets (ROA) is -2.70%, return on investment (ROI) is -17.70% and return on equity (ROE) is -9.70%. Continuing to look at its liquidity, its quick ratio is 1.40 and current ratio is 2.00. While the company’s debt to equity ratio is 2.24.
Lannett Inc. has reported the sales of 541.70 million and has a market capitalization of 248.17 million. Its Gross Margin is 32.30%, Profit Margin is -5.80% and an Operating Margin is 5.80%.
Levothyroxine is the most prescribed drug in the US as it is an important medication for the ones with thyroid deficiency. Cediprof’s previous distribution partner disagreed with the new partner and challenge the termination notice it has received earlier.
But Judges in two courts rejected a request for a temporary restraining order from the previous distribution partner, which prohibit the Cediprof to end the previous agreement and transfer the distribution rights to Lannett. Now the court order removed the hurdle for the distribution of a product in the US.