Lannett to Begin Trading on the New York Stock Exchange
December 02 2013 - 7:54AM
Business Wire
Lannett Company, Inc. (NYSE MKT: LCI) today announced that it
will transfer the listing of its common stock to the New York Stock
Exchange (NYSE) from NYSE MKT. The Company expects its shares to
begin trading on the NYSE on December 13, 2013, under its current
ticker symbol (LCI). Virtu Financial, Inc. will remain the
Company’s Designated Market Maker.
“This has been a tremendous year for our company,” said Arthur
Bedrosian, president and chief executive officer of Lannett. “We
generated record sales and net income, crossed the billion dollar
market cap threshold and raised more than $70 million in a highly
successful public offering. Capping these achievements is the
listing of our common stock on the Big Board. We have reached an
inflection point and are excited about Lannett’s future, but in the
words of Bachman-Turner Overdrive, ‘you ain’t seen nothing
yet!’”
“We are delighted to continue our relationship with Lannett and
their shareholders as the company transitions to our NYSE
platform,” said Scott Cutler, Executive Vice President, Head of
Global Listings, NYSE Euronext. “As the company has become one of
the top pharmaceutical companies in generic products, among other
accomplishments, Lannett is a great example of a growth-oriented
company that can leverage NYSE’s advanced and innovative market
model.”
About Lannett Company, Inc.:
Lannett Company, founded in 1942, develops, manufactures,
packages, markets and distributes generic pharmaceutical products
for a wide range of medical 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 statement, including, but not limited to,
statements regarding the transfer of its common stock from the NYSE
MKT to the NYSE, whether expressed or implied, is subject to market
and other conditions, and 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 risk factors discussed in the Company’s Form 10-K
and other documents filed with the SEC 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.
Robert Jaffe Co., LLCRobert Jaffe, (424) 288-4098
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