Private company

LANNETT CO INC

American pharmaceutical preparations company based in Philadelphia2

In its 2022 annual report the company says: “We primarily develop, manufacture, market and distribute generic versions of brand pharmaceutical products.”64

Last updated Oct 20, 2026.

Overview

$340.6MRevenue, fiscal 20223
-$231.6MNet income, fiscal 20223
  • IndustryPharmaceutical Preparations2
  • HeadquartersPhiladelphia, United States2
  • Incorporated inDE4
  • Business address9000 State Rd, Philadelphia, Pa 191364
  • Filer categoryNon-accelerated filer4
  • Legal formCorporation2
  • LEI5299001DJ6C90XX17G452
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressc/o REGISTERED OFFICE SERVICE COMPANY, 203 NE FRONT ST STE 101, 19963 Milford, United States2
  • Registered withDivision of Corporations, Department of State, 22805652

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2022

9.7%Gross margin3
-51.8%Operating margin3
-68.0%Net margin3
-28.9%Revenue growth, 20223
-$15.9MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2022

  • Research and development7¢$22.4M
  • Selling, general and admin24¢$81.0M
  • Other costs52¢$176.9M
  • Interest17¢$58.0M
  • Income tax1¢$2.3M

Out of $340.6M in revenue.3 The company lost money this year.

Financial statements

Revenue567893$340.6M in 2022−16% since 2015
0$200.0M$400.0M$600.0M$800.0M2015: $406.8M$406.8M20152016: $542.5M$542.5M2016+33%2017: $633.3M$633.3M2017+17%2018: $684.6M$684.6M2018+8%2019: $655.4M$655.4M2019−4%2020: $545.7M$545.7M2020−17%2021: $478.8M$478.8M2021−12%2022: $340.6M$340.6M2022−29%
Gross profit567893$33.2M in 2022−89% since 2015
0$100.0M$200.0M$300.0M$400.0M2015: $306.4M$306.4M20152016: $286.5M$286.5M2016−6%2017: $301.2M$301.2M2017+5%2018: $288.7M$288.7M2018−4%2019: $243.6M$243.6M2019−16%2020: $165.2M$165.2M2020−32%2021: $75.6M$75.6M2021−54%2022: $33.2M$33.2M2022−56%
Operating income567893-$176.3M in 2022
-$400.0M-$200.0M0$200.0M$400.0M2015: $226.5M$226.5M20152016: $130.8M$130.8M2016−42%2017: $86.4M$86.4M2017−34%2018: $129.7M$129.7M2018+50%2019: -$262.3M-$262.3M20192020: $19.6M$19.6M20202021: -$237.3M-$237.3M20212022: -$176.3M-$176.3M2022−26%
Net income567893-$231.6M in 2022
-$400.0M-$200.0M0$200.0M2015: $150.0M$150.0M20152016: $44.9M$44.9M2016−70%2017: -$547.0K-$547.0K20172018: $28.7M$28.7M20182019: -$272.1M-$272.1M20192020: -$33.4M-$33.4M2020−88%2021: -$363.5M-$363.5M2021+989%2022: -$231.6M-$231.6M2022−36%
Fiscal year20152016201720182019202020212022
Revenue$406.8M5$542.5M6$633.3M7$684.6M8$655.4M9$545.7M3$478.8M3$340.6M3
Cost of revenue$100.5M13
Gross profit$306.4M5$286.5M6$301.2M7$288.7M8$243.6M9$165.2M3$75.6M3$33.2M3
Research and development$30.3M5$45.1M6$42.1M7$29.2M8$38.8M9$30.0M3$24.2M3$22.4M3
Selling, general and admin$45.2M5$68.3M6$73.5M7$82.2M8$87.6M9$79.5M3$68.1M3$81.0M3
Operating expenses$209.4M3
Operating income$226.5M5$130.8M6$86.4M7$129.7M8-$262.3M9$19.6M3-$237.3M3-$176.3M3
Interest$207.0K5$65.9M6$89.4M7$85.6M8$84.6M9$66.8M3$53.8M3$58.0M3
Income before tax-$233.9M3
Income tax$77.4M5$17.3M6$1.1M7$22.4M8-$74.1M9-$15.3M3$60.6M3-$2.3M3
Net income$150.0M5$44.9M6-$547.0K7$28.7M8-$272.1M9-$33.4M3-$363.5M3-$231.6M3
Earnings per share$4.185$1.236-$0.027$0.778-$7.209-$0.863-$9.233-$5.743
Earnings per share (diluted)$4.045$1.206-$0.027$0.758-$7.209-$0.863-$9.233-$5.743
Shares (weighted, basic)40.4M shares3
Shares (weighted, diluted)40.4M shares3

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Corporate structure

LANNETT CO INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LANNETT CO INC

  • HIGHBRIDGE CAPITAL MANAGEMENT LLC Filed SC 13G/A on LANNETT CO INC, latest Feb 10, 2023 (2 filings since Feb 11, 2022)
  • JPMorgan Chase Filed SC 13G/A on LANNETT CO INC, latest Jun 3, 2022 (2 filings since Jan 12, 2022)
  • VANGUARD GROUP INC Filed SC 13G/A on LANNETT CO INC, latest Feb 10, 2022
  • LANNETT CO INC Philadelphia, Pennsylvania, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LANNETT CO INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$136.4M3 Jun 30, 2022$123.3M3 Jun 30, 2021+10.7%
Property and equipment, net$133.2M3 Jun 30, 2022$166.7M3 Jun 30, 2021−20.1%
Operating-lease assets (leased space)$9.6M3 Jun 30, 2022$10.6M3 Jun 30, 2021−8.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$87.9M3 Jun 30, 2022$93.3M3 Jun 30, 2021−5.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$32.2M3 Jun 30, 2022$137.8M3 Jun 30, 2021−76.7%
Indefinite-lived intangibles (excluding goodwill)$4.0M3 Jun 30, 2021$9.0M9 Jun 30, 2020−55.6%
Finite-lived intangibles, gross$58.2M3 Jun 30, 2022$161.8M3 Jun 30, 2021−64.1%
Accumulated amortization$26.0M3 Jun 30, 2022$28.0M3 Jun 30, 2021−7.1%
Finite-lived intangibles, net$32.2M3 Jun 30, 2022$133.8M3 Jun 30, 2021−76.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$95.2M3 Jun 30, 2022$109.5M3 Jun 30, 2021−13.1%
Raw materials$39.3M3 Jun 30, 2022$45.4M3 Jun 30, 2021−13.4%
Work in process$9.3M3 Jun 30, 2022$12.7M3 Jun 30, 2021−26.6%
Finished goods$46.5M3 Jun 30, 2022$51.5M3 Jun 30, 2021−9.6%

Leadership

Who has led LANNETT CO INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Arthur P. Bedrosian2006–2017
  2. Timothy C. Crew2018–2022

President

  1. Arthur P. Bedrosian2006–2014
  2. Michael Bogda2014–2015

Chief financial officer

  1. Keith Richard Ruck2009–2011
  2. Martin P. Galvan2011–2019
  3. John Kozlowski2019–2022

Chief operating officer

  1. William Schreck2014–2015
  2. John Kozlowski2017–2018
2010201520202025
Board members and other officers (22)

Timeline

  1. Jun 20, 20238-K Entered a material agreement; Ended a material agreement; Bankruptcy or receivership44
  2. Jun 13, 20238-K Bankruptcy or receivership45
  3. May 3, 20238-K Bankruptcy or receivership; Debt or obligation accelerated; Regulation FD disclosure46
  4. May 2, 20238-K Ended a material agreement; Regulation FD disclosure47
  5. May 1, 20238-K Entered a material agreement; Executive or director change; Regulation FD disclosure48
  6. Apr 20, 20238-K Listing notice or transfer; Regulation FD disclosure; Other events49
  7. Apr 14, 20238-K Executive or director change50
  8. Apr 4, 20238-K Other events51
  9. Feb 7, 20238-K Change to shareholders' rights; Bylaws or fiscal year changed52
  10. Feb 2, 20238-K Results of operations53
  11. Jan 26, 20238-K Shareholder vote54
  12. Dec 16, 20228-K Exit or restructuring costs; Impairment55
  13. Jan 5, 2018New chief executive Timothy C. Crew becomes CEO15
  14. Feb 8, 2006New chief executive Arthur P. Bedrosian becomes CEO16

Calendar

When it reported results

  1. Feb 2, 2023Reported quarterly or annual results53
  2. Nov 3, 2022Reported quarterly or annual results56
  3. Aug 25, 2022Reported quarterly or annual results57
  4. May 5, 2022Reported quarterly or annual results58
  5. Feb 4, 2022Reported quarterly or annual results59
  6. Nov 4, 2021Reported quarterly or annual results60

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

98 filings to the SEC since October 2021: 1 annual reports, 6 quarterly reports, 24 major events, 31 insider forms, 5 large holders, 31 other. The latest 20:

  1. Jun 23, 2023EFFECT EDGAR
  2. Jun 23, 2023EFFECT EDGAR
  3. Jun 23, 2023EFFECT EDGAR
  4. Jun 23, 2023EFFECT EDGAR
  5. Jun 23, 2023EFFECT EDGAR
  6. Jun 23, 2023EFFECT EDGAR
  7. Jun 23, 2023EFFECT EDGAR
  8. Jun 23, 2023EFFECT EDGAR
  9. Jun 20, 202315-12G EDGAR
  10. Jun 20, 2023S-8 POS EDGAR
  11. Jun 20, 2023S-8 POS EDGAR
  12. Jun 20, 20238-K EDGAR
  13. Jun 20, 2023S-8 POS EDGAR
  14. Jun 20, 2023S-8 POS EDGAR
  15. Jun 20, 2023S-8 POS EDGAR
  16. Jun 20, 2023S-8 POS EDGAR
  17. Jun 20, 2023S-8 POS EDGAR
  18. Jun 20, 2023S-8 POS EDGAR
  19. Jun 20, 2023S-8 POS EDGAR
  20. Jun 20, 2023POS AM EDGAR

The 98 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

18 open-market trades by officers, directors and large owners since October 2021: 18 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 17, 2022Chapman John CDirectorBuy20,000$0.51$10.2KForm 4
Nov 10, 2022LEPORE PATRICK GDirectorBuy100,000$0.49$49.0KForm 4
Nov 10, 2022Crew Timothy CChief Executive OfficerBuy15,000$0.48$7.2KForm 4
Sep 14, 2022Rewolinski MelissaDirectorBuy31,159$0.49$15.3KForm 4
May 16, 2022LEPORE PATRICK GDirectorBuy50,000$0.54$27.0KForm 4
Mar 17, 2022FARBER JEFFREYDirectorBuy20,000$0.81$16.2KForm 4
Feb 15, 2022Israel Samuel HChief Legal OfficerBuy12,000$0.81$9.7KForm 4
Feb 11, 2022Chapman John CDirectorBuy12,500$0.80$10.0KForm 4
Feb 10, 2022Abt JohnChief Quality and OperationsBuy5,000$0.90$4.5KForm 4
Feb 10, 2022Crew Timothy CChief Executive OfficerBuy50,000$0.93$46.5KForm 4
Feb 9, 2022FARBER JEFFREYDirectorBuy10,000$0.92$9.2KForm 4
Feb 8, 2022LEPORE PATRICK GDirectorBuy50,000$0.88$44.0KForm 4
Dec 14, 2021KOZLOWSKI JOHNVP of Finance & CFOBuy4,900$1.81$8.9KForm 4
Dec 13, 2021Crew Timothy CChief Executive OfficerBuy20,000$1.99$39.8KForm 4
Dec 2, 2021KOZLOWSKI JOHNVP of Finance & CFOBuy4,000$1.68$6.7KForm 4
Nov 29, 2021LEPORE PATRICK GDirectorBuy50,000$1.71$85.5KForm 4
Nov 17, 2021FARBER JEFFREYDirectorBuy10,000$1.93$19.3KForm 4
Nov 16, 2021KOZLOWSKI JOHNVP of Finance & CFOBuy7,000$2.06$14.4KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How LANNETT CO INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLANNETT CO INC1
  • CIK0000057725
  • Employer ID (EIN)23-07876991
  • Filer statusNon-accelerated filer1
  • Incorporated inDelaware1
  • Fiscal year endsJune 301
  • Industry code (SIC)2834 Pharmaceutical Preparations1
  • Business address9000 State Rd, Philadelphia, PA 191361
  • Mailing address9000 State Road, 9000 State Road, Phladelphia, PA 191361
  • Phone21533390001
  • Shares outstanding10,780,187 as of Apr 28, 202312
  • Public float$57.7M as of Dec 31, 20213
  • On EDGAR sinceNov 13, 19951
  • Filings1,244 in all: 4 (572), 8-K (245), 10-Q (61), SC 13G/A (45), CORRESP (33), 3 (30), DEF 14A (25), UPLOAD (25)1
    All 45 form types

    10QSB (23), 5 (23), 10-K (19), SC 13G (15), 8-K/A (12), EFFECT (12), S-8 POS (10), 10KSB (8), POS AM (8), S-8 (8), 10-Q/A (7), 10QSB/A (6), 10-K/A (5), 10KSB/A (5), S-3 (5), SC 13D/A (5), 424B5 (4), CT ORDER (3), PRE 14A (3), S-3/A (3), 4/A (2), 5/A (2), 8-A12B (2), FWP (2), S-3ASR (2), SC 13D (2), SEC STAFF LETTER (2), 15-12G (1), 25 (1), 25-NSE (1), 424B3 (1), CERTAMX (1), D (1), DEF 14C (1), DEFA14A (1), NT 10-K (1), S-3MEF (1)

  • Latest filingsAnnual report (10-K) Aug 25, 2022
    Quarterly report (10-Q) May 15, 2023
    Proxy statement (DEF 14A) Nov 29, 2022
    Latest 8-K (8-K) Jun 20, 2023

Sources

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