Lannett Company, Inc. (NYSE: LCI) today announced that it has expanded its agreement with Sunshine Lake LLC, the U.S. subsidiary of the HEC Pharm Group (HEC) of China, to be the exclusive distributor in the U.S. of Clarithromycin Extended Release (ER) Tablets 500 mg and Entacapone Immediate Release (IR) Tablets 200 mg. HEC has received approvals from the U.S. Food and Drug Administration (FDA) of its Abbreviated New Drug Applications (ANDAs) for Clarithromycin Extended Release (ER) Tablets 500 mg and Entacapone Immediate Release (IR) Tablets 200 mg, the therapeutic equivalents to the reference listed drugs, Biaxin® XL and Comtan®, respectively. Lannett has commenced marketing Clarithromycin and expects to market Entacapone in early calendar year 2019. Financial terms were not disclosed.

"We continue to add market-ready products to our offering, including Clarithromycin, where there are few suppliers," said Tim Crew, chief executive officer of Lannett. "HEC is an important strategic alliance partner, and we are thrilled to expand our agreement to now include Clarithromycin and Entacapone. These products advance our near-term objective of increasing our revenues, further strengthening our business."

Clarithromycin ER Tablets 500 mg and Entacapone IR Tablets 200 mg have estimated IQVIA (formerly IMS) market values of approximately $8 million and $24 million for the 12 months ended September 2018, respectively, although actual generic market values are expected to be lower.

Biaxin® XL and Comtan® are registered trademarks of AbbVie Inc. and Novartis International AG, respectively.

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.