Lannett Company, Inc. (LCI), said Monday that the U.S. Food and Drug Administration has issued a revised Prescription Drug User Fee Act goal date of June 23, 2011 for the company's 505(b)(2) New Drug Application for Morphine Sulfate Oral Solution.
Arthur Bedrosian, president and chief executive officer of Lannett, said," With a revised PDUFA date in 17 days, we are preparing for the re-launch of our Morphine Sulfate Oral Solution product, if approved."
Philadelphia, Pennsylvania-based Lannett develops, manufactures, packages, markets, and distributes generic pharmaceutical products sold under generic chemical names in the United States.
LCI is currently trading at $5.49, up $0.35 or 6.81%, on a volume of 0.4 million shares. Over the past year, the stock traded in a range of $3.66 - $7.00, with three-month average volume of 0.1 million shares.
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