Lannett Announces Successful Completion Of ERP System Extraction

PHILADELPHIA, Feb. 7, 2017 /PRNewswire/ -- Lannett Company, Inc. (NYSE:LCI) today announced that it has completed the extraction of the core software supporting the operations of Kremers Urban Pharmaceuticals, Inc. (KU) from UCB Pharma.

"Having performed a successful targeted extraction of KU's SAP data and configuration is a significant milestone and paves the way for KU's operational independence," said Robert Ehlinger, chief information officer of Lannett. 

"Data extraction of an ERP system is complicated and I am pleased to report that our business did not skip a beat during the process," said Arthur Bedrosian, chief executive officer of Lannett.  "Our IT team thoroughly planned and executed every step along the way to ensure a seamless transition.  I want to acknowledge the excellence of our IT department with regard to this extraction, as well as their efforts to implement SAP in our Silarx and Cody Laboratories subsidiaries."

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.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance.  Any such statements, including, but not limited to, the successful extraction of KU SAP data and configuration and SAP implementation at Silarx and Cody, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, including acquired products, and Lannett's estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company's Form 10-K and other documents filed with the Securities and Exchange Commission from time to time.  These forward-looking statements represent the company's judgment as of the date of this news release.  The company disclaims any intent or obligation to update these forward-looking statements.

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SOURCE Lannett Company, Inc.