Lannett plans to file experimental insulin product with FDA sometime this year

Shares of Lannett Co. Inc. /zigman2/quotes/205623272/composite LCI +0.57% gained 7.3% in premarket trading on Wednesday after the company said it received feedback from the Food and Drug Administration about the ongoing development of a biosimilar version of insulin glargine. This type of long-acting insulin is considered a biologic and was initially developed by Sanofi /zigman2/quotes/201967021/composite SNY +1.55% under the brand name Lantus. Lannett said it submitted the clinical-trial protocol to the FDA in November and has since updated it with the regulator's feedback. The company plans to file an investigational new drug application sometime in 2021, with a goal to eventually launch the product in the market in 2023. Lannett's stock is down 15.3% over the past 12 months, while the S&p 500 /zigman2/quotes/210599714/realtime SPX -0.81% has gained 41.1%.

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Lannett Co. Inc.

US : U.S.: NYSE

$ 0.51

+0.0029 +0.57%

Volume: 150,666

May 24, 2022 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$21.82 million

Rev. per Employee

$458,619

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Sanofi ADR

US : U.S.: Nasdaq

$ 56.29

+0.86 +1.55%

Volume: 3.02M

May 24, 2022 4:00p

P/E Ratio

19.28

Dividend Yield

2.24%

Market Cap

$139.06 billion

Rev. per Employee

$467,643

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S&P 500 Index

US : S&P US

3,941.48

-32.27 -0.81%

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May 24, 2022 4:55p