Business ProfileforLannett Company, Inc.

The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the governments allegations, which have not yet been proven.

On May 12, 2019, the Connecticut Attorney General along with 43 other Attorneys General, including Pennsylvania’s, announced a lawsuit against Lannett Company Inc. and 19 of the nation's largest generic drug manufacturers alleging a broad conspiracy to artificially inflate and manipulate prices, reduce competition and unreasonably restrain trade for more than 100 different generic drugs. The lawsuit, filed in U.S. District Court for the District of Connecticut, also names 15 individual senior executive defendants who were responsible for sales, marketing, pricing and operations for the various manufacturers.  The complaint alleges that the named generic drug manufacturers engaged in a broad, coordinated and systematic campaign to conspire with each other to fix prices, allocate markets and rig bids in violation of federal antitrust laws as well as numerous state consumer protection laws, including Pennsylvania’s.  At the same time, the companies also allegedly colluded to significantly raise prices on as many drugs as possible.  The lawsuit seeks damages, civil penalties and injunctive relief.  For more information, click here.