Lannett Stock Jumps On US Commercialization Pact For Spiriva Handihaler

by Vandana Singh, Benzinga Editor

July 29, 2021 7:57 AM | 1 min read | Make a Comment

Lannett Company Inc LCI enters into an exclusive U.S. commercialization agreement for a generic Spiriva Handihaler (Tiotropium Bromide inhalation powder) with Respirent Pharmaceuticals Co Ltd.
The treatment is indicated to control and prevent symptoms (such as wheezing, shortness of breath) caused by ongoing lung disease.
The 10-year term of the agreement commences upon distribution of the product.
U.S. sales of Spiriva Handihaler were $1.5 billion for the 12 months ending May 2021, according to IQVIA.
The generic Spiriva Handihaler product is currently in development and tracking to Abbreviated marketing application submission in 2023.
Price Action: LCI shares are up 5.3% at $4.97 during the premarket session on the last check Thursday.