Lannett Completes Senior Notes Pay Down Of $50 Million

Lannett Company, Inc. LCI revealed Friday it has completed the buyback of $50 million worth of the $250 million aggregate principal amount of the 12 percent Senior Notes due in 2023 in open market transactions.

The company disclosed its intention to repurchase the notes on Thursday.

Lannett CEO, Arthur Bedrosian, commented, "We plan to continue to delever our outstanding debt and, as a result, further reduce our interest expense. Our cost savings plan remains on track, the integration of Kremers Urban is proceeding on schedule and our business continues to be strong."

On Friday, the stock traded 2.35 percent higher.