Lannett Company Names Rich Matchett National Sales Account Manager.

PHILADELPHIA -- Lannett Company, Inc. (AMEX:LCI), a manufacturer of generic pharmaceuticals, today announced the appointment of Rich Matchett as National Sales Account Manager.

Matchett is a 20-year veteran of the generic pharmaceutical industry, having held senior sales positions with Hi-Tech, Impax and Geneva Pharmaceuticals (now known as Sandoz). Matchett brings to Lannett extensive experience with customers in all segments of the industry, including retail chains, wholesale distributors, mail-order wholesalers and group purchasing organizations.

"Rich Matchett is a sales executive with a well known and respected reputation in the generic drug industry," said Kevin Smith, Lannett's Vice President of Sales and Marketing. "We believe that Rich will strengthen Lannett's sales and marketing representation throughout the country and further enhance the customer relationships we have built."

About Lannett Company:

Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of indications. For more information, visit Lannett Company's website at www.lannett.com.

This news release contains certain forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause Lannett's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include Lannett's ability to successfully develop products, the impact of competition from brand name companies that sell their own generic products or successfully extend the exclusivity period of their branded products, the availability of product liability coverage in the current insurance market, the impact of pharmaceutical industry regulation and pending legislation that could affect the pharmaceutical industry, the difficulty of predicting U.S. Food and Drug Administration and other regulatory authority approvals, acceptance and demand for new pharmaceutical products and new therapies, uncertainties regarding market acceptance of innovative products newly launched, currently being sold or in development, the impact of restructuring of clients, reliance on strategic alliances, exposure to product liability claims, dependence on patent and other protections for innovative products, fluctuations in currency, exchange and interest rates, operating results, and other factors that are discussed in Lannett's Annual Report on Form 10-K for its fiscal year ended June 30, 2005, and its other filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.