Lannett to distribute Levothyroxine Sodium tablets in USA

Pharmaceutical tablets and capsules are arranged in the shape of a Euro currency sign on a table in this picture illustration, August 20, 2014. REUTERS/Srdjan Zivulovic/Illustration/File Photo
Pharmaceutical tablets and capsules are arranged in the shape of a Euro currency sign on a table in this picture illustration, August 20, 2014. REUTERS/Srdjan Zivulovic/Illustration/File Photo

Lannett Company has entered into a future exclusive supply and distribution agreement for the approved Levothyroxine Sodium Tablets USP of Cediprof, Inc., a wholly owned subsidiary of privately held Neolpharma Pharmaceutical Group. 

Under the agreement, Lannett will begin the U.S. distribution of the product no later than August 1, 2022, the company said in a statement Monday. Furthermore, Lannett will make an upfront payment of $20 million within the next five business days and will receive a portion of the net profits once it commences distribution of the product.  The term of the agreement is 10 years, which begins upon commencement of distribution.  Other terms were not disclosed, it was said in Lannett’s press release.

“The Levothyroxine product covered under the agreement includes all 12 currently marketed dosage strengths, is FDA approved and presently commercialized by another party,” said Tim Crew, chief executive officer of Lannett. 

He said that, according to insight in the market dynamics for Levothyroxine, the company looks forward to re-entering the space, especially with Cediprof’s high quality product.  Crew noted that Levothyroxine is one of the most widely prescribed drugs in the U.S. and continues to be a critically important medication for thyroid deficiency.