UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

 

Date of Report (Date of earliest event reported): October 30, 2019

 

LANNETT COMPANY, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Commission File No. 001-31298

 

State of Delaware

 

23-0787699

(State of Incorporation)

 

(I.R.S. Employer I.D. No.)

 

9000 State Road

Philadelphia, PA 19136

(215) 333-9000

(Address of principal executive offices and telephone number)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, $0.001 par value

 

LCI

 

New York Stock Exchange

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company o

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

 

 

 


 

ITEM 8.01 OTHER EVENTS

 

Beginning with Lannett Company, Inc’s. (“Lannett”, the “Company”, “our”) Form 10-Q for the period ended September 30, 2019, the Company will present updated and reclassified categories within our sales by medical indication table to better align with industry standards and our peers.  The Company believes this will provide for better comparability and clarity for the readers of our financial statements.  A reclassified sales by medical indication table of the Company’s quarterly fiscal year 2019 net sales is attached hereto as Exhibit 99.1 and incorporated herein by reference.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

 

(d)     Exhibits

99.1   Fiscal year 2019 quarterly net sales by medical indication

 

2


 

EXHIBIT INDEX

 

Exhibit:

 

Description:

 

 

 

99.1

 

Fiscal year 2019 quarterly net sales by medical indication

 

3


 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

LANNETT COMPANY, INC

 

 

 

By:

/s/ John Kozlowski

 

 

Vice President of Finance and Chief Financial Officer

 

Date:

October 31, 2019

 

 

4


Exhibit 99.1

 

LANNETT COMPANY, INC.

NET SALES BY MEDICAL INDICATION

 

 

 

Three months ended

 

Twelve months ended

 

($ in thousands)

 

September 30, 2018

 

December 31, 2018

 

March 31, 2019

 

June 30, 2019

 

June 30, 2019

 

Medical Indication

 

 

 

 

 

 

 

 

 

 

 

Analgesic

 

$

1,829

 

$

2,547

 

$

946

 

$

2,929

 

$

8,251

 

Anti-Psychosis

 

10,889

 

14,036

 

20,616

 

27,912

 

73,453

 

Cardiovascular

 

21,770

 

25,680

 

22,783

 

31,234

 

101,467

 

Central Nervous System

 

14,286

 

7,373

 

15,906

 

21,454

 

59,019

 

Endocrinology

 

53,878

 

88,477

 

55,210

 

(43

)

197,522

 

Gastrointestinal

 

17,594

 

12,943

 

16,501

 

16,005

 

63,043

 

Infectious Disease

 

4,480

 

4,616

 

4,162

 

3,692

 

16,950

 

Migraine

 

9,737

 

12,551

 

9,846

 

9,458

 

41,592

 

Respiratory/Allergy/Cough/Cold

 

3,584

 

3,388

 

2,549

 

2,958

 

12,479

 

Urinary

 

1,541

 

1,596

 

2,096

 

1,522

 

6,755

 

Other

 

10,805

 

12,606

 

14,247

 

13,859

 

51,517

 

Contract manufacturing revenue

 

4,661

 

7,905

 

7,932

 

2,861

 

23,359

 

Net Sales

 

$

155,054

 

$

193,718

 

$

172,794

 

$

133,841

 

$

655,407