Lannett Company Signs Direct Sales Agreement for National Distribution of its Generic Pharmaceutical Product Line
William Farber, Lannett's Chairman of the Board of Directors, stated, "With the increasing line of Lannett generic products that have been introduced through our commitment to research and development, we now have a growing line of products that can be merchandised and promoted carrying the Lannett Company label. With our expanded product line, it is advantageous for us to team up with Bi-Coastal, a company that can reach all levels of national distribution. Bi-Coastal has a highly effective, highly experienced staff to sell the Lannett generic line of pharmaceuticals. I believe this collaboration will have a positive effect on Lannett's sales growth as well as form an active marketing and sales partnership for the additional number of Lannett generic drugs we expect to introduce in the foreseeable future."
Bi-Coastal Pharmaceutical Corporation president & CEO, Ralph Massa, Sr., stated, "We are excited to handle sales and marketing on a national level for the current line of Lannett's generic products. We look forward to an expanded relationship with LANNETT as they continue to grow their product line. This relationship is immediately advantageous to Lannett because it provides Lannett with greatly expanded marketing ands sales resources and it is equally advantageous to Bi-Coastal because Bi-Coastal ids continuing to grow its sales force as well as its sales revenue. Lannett's commitment to research and development also is expected to lead to an exciting future for both Lannett and Bi-Coastal."
Lannett's common stock trades in the over-the-counter market through the use of the inter-dealer "pink sheets" published by the National Quotations Bureau, Inc. under the symbol ("LANN").
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