Lannett Encouraged by Levothyroxine Development in Florida

 Lannett Company, Inc. (AMEX: LCI) today said it is encouraged by a
legal development in Florida that could remove generic Levothyroxine
Sodium from the state's negative drug formulary.
 

 An administrative judge in Florida recently found that the
inclusion of Levothyroxine on the state's negative drug formulary is
an invalid exercise of legislative authority and that the product
should be removed from the negative formulary. When a drug is included
on Florida's negative formulary, pharmacists cannot substitute a
generic version for a prescribed brand version.
 

 Lannett's levothyroxine sodium tablets are immediately available
to pharmacies in Florida and offer savings to patients. Lannett
currently has approximately 31 percent of the generic market share,
with generic Levothyroxine Sodium comprising more than 50 percent of
the total market, according to Wolters Kluwer, a leading provider of
business information.
 

 Levothyroxine Sodium is indicated for the treatment of
hypothyroidism and pituitary TSH suppression. Lannett's levothyroxine
sodium tablets are therapeutically equivalent to brands Synthroid(R),
Levoxyl(R) and Unithroid(R).
 

 About Lannett Company, Inc.:
 

 Lannett Company, founded in 1942, develops, manufactures,
packages, markets and distributes generic pharmaceutical products for
a wide range of 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, providing a
Levothyroxine Sodium product in Florida that offers savings to
patients, 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, 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.
 

 SOURCE: Lannett Company, Inc.
 

 PondelWilkinson Inc.
Robert Jaffe/Evan Pondel, 310-279-5980