Lannett Company, Inc. (NYSE: LCI) today announced that it completed the purchase of approximately $24.2 million principal amount of its Term Loans in open market transactions. The purchases comprised approximately $8.0 million and $16.2 million of the Term A Loans and Term B Loans, respectively.

"Given our healthy cash position, purchasing the company's Term Loans is an effective use of capital, reducing future cash interest payments, as well as future amounts due at maturity," said Tim Crew, chief executive officer of Lannett. "We continue to assess opportunities to further improve our capital structure."

Crew noted, "In recent weeks, the price of both the company's Term A Loans and Term B Loans has increased – we believe this is a strong market endorsement of our improved performance and outlook."

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.