Lannett injects $50m into Wyoming generic opioid build

07-Feb-2017 - Last updated on 16-Aug-2019 at 11:23 GMT

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Related tags Active ingredient Opioid

Lannett Company, Inc. has announced it will invest $50m into its generic analgesic manufacturing subsidiary Cody Labs, creating 45 new jobs in the Wyoming facility.

Cody Laboratories, Inc. was bought by the Philadelphia-based active pharmaceutical ingredient (API) manufacturer Lannett in 2007.

The labs specialise in pharmaceutical manufacturing of generics including Hydrocodone and Hydromorphone, both common opioid-based drugs prescribed for pain management.

In addition to Cody Lab’s current 130 employees, the new $50m (€46.8m) expansion will create 45 new jobs in the town of Cody, Wyoming.

Construction is planned to begin this spring, to be completed by Q3 2018 and for commercial operations to start by end of 2020.

Lannett has previously shown significant investment into its manufacturing capabilities in the Mid-West of the US.

Arthur Bedrosian, CEO of Lannett, said “[the] plan to invest in our pain management facilities will significantly increase our active pharmaceutical ingredients (APIs) production and bolster our efforts to vertically integrate,” in an SEC filing.

Cody Labs and Lannett could not be reached for further comment.