ADDITIONAL FINANCING PROVIDED TO LANNETT COMPANY, INC.
PHILADELPHIA, March 10 /PRNewswire/ -- Lannett Company, Inc. (OTC Bulletin Board: LANN), a manufacturer and distributor of generic pharmaceutical products, announced today that its chairman, William Farber, has increased the amount of funding he has made available to the company to $5.5 million from $4 million. Farber stated that while the company continues to manufacture and market the product it re-introduced last October, it has extended its original estimated time frame for re-introducing other products in order to complete the testing, validation and, in certain instances, reformulation process. Management of the company believes the additional funds Farber has made available should be more than adequate to support the company's operations as additional products are re-introduced during the next 12 months. -0- 3/10/93 /CONTACT: Barry Weisberg, president, Lannett Company, Inc., 215-333-9000/ (LANN)
CO: Lannett Company, Inc. ST: Pennsylvania IN: MTC SU:
SB -- DE012 -- 4723 03/10/93 13:13 EST
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|Date:||Mar 10, 1993|
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