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Why Lannett Shares Are Jumping Today

TheMotleyFool

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Shares of Lannett Company (NYSE: LCI) were jumping 12.1% higher as of 11:35 a.m. EDT on Thursday. The nice gain came after the drugmaker announced a deal to distribute Cediprof's levothyroxine sodium tablets.

Lannett stated that it plans to start distributing Cediprof's generic drug in the U.S. market on Aug. 3, 2020. It's an interim agreement, though, which ends on July 31, 2022. At that point, a 10-year supply and distribution agreement between the two companies takes effect.

Image source: Getty Images.

Source Fool.com

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