Why Lannett Company Inc. Is Being Obliterated Today

In response to announcing the loss of a key customer and sharing preliminary numbers for its fiscal fourth quarter, Lannett (NYSE: LCI), a manufacturer of generic pharmaceuticals, saw its shares drop 58% as of 11:03 a.m. EDT on Monday.Lannett learned on Friday afternoon that its distribution agreement with Jerome Stevens Pharmaceuticals (JSP) will not be renewed.

 

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