Lannett Company, Inc. shared a business update as it focuses on strategically positioning the Company to continue manufacturing and delivering safe, affordable, effective, life-enhancing generic pharmaceutical products for its valued patients and customers. Results of Insulin Study The pivotal clinical trial of biosimilar insulin glargine demonstrated positive results, in line with prior expectations. The Company is co-developing this product with its strategic alliance partners within the HEC Group of companies (HEC).

The single center, single-dose, double-blind, randomized, two-period, two-treatment, two-sequence, crossover study was designed to demonstrate pharmacokinetic (PK) and pharmacodynamic (PD) similarity between Lannett/HECs biosimilar insulin glargine and US-Lantus® using the euglycemic clamp technique in healthy male adult volunteers. The study met all of its primary and secondary endpoints and no serious adverse events were reported. The data from the pivotal trial of the Company's biosimilar insulin glargine indicate that its insulin glargine is biosimilar to the reference product.

The Company continues to assess the potential impacts of recent developments in the insulin market, including announcements by manufacturers related to lowering the price of insulin for patients, especially list prices, and enhancing market transparency. Lannett welcomes these initiatives to help drive greater access to this critical medicine and believes these changes dovetail with the Company's promising go-to-market approach.