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March 10, 2021, 7:49 a.m. EST

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

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By Jaimy Lee

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%.

/zigman2/quotes/205623272/composite
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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/zigman2/quotes/201967021/composite
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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/zigman2/quotes/210599714/realtime
US : S&P US
3,941.48
-32.27 -0.81%
Volume: 2.44B
May 24, 2022 4:55p
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