United States

Securities and Exchange Commission

Washington, DC 20549

 

Form 8-K

 

Current Report

Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

 

Date of Report:  March 17, 2009

 

Lannett Company, Inc.

(Exact Name of Registrant as Specified in its Charter)

 

DE

 

001-31298

 

23-0787699

(State or other

 

(Commission File Number)

 

(IRS Employer

Jurisdiction of

 

 

 

Identification

Incorporation)

 

 

 

No.)

 

9000 State Road, Philadelphia, PA 19136

(Address of Principal Executive Offices)

 

Registrant’s telephone number, including area code: (215) 333-9000

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

 

o

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

 

o

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

 

o

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

ITEM 8.01              Other Events

 

  On March 17, 2009, Lannett Company, Inc. (“Lannett”) settled its suit (Civil Action No. 08-338 (JJF)) and all related litigation against KV Pharmaceuticals, DrugTech Corp., and Ther-Rx Corp (collectively “KV”).

 

In light of the withdrawal of KV’s innovator prenatal product, and the resulting anticipated decline in sales and declining market for written prescriptions, Lannett decided it was pointless to continue the litigation and entered into the settlement arrangement with KV.  Pursuant to the settlement, Lannett will receive a license from KV and will become an authorized generic provider.  During the terms of the license, Lannett will pay KV a royalty on all future sales of its OB NATAL prenatal product.  Lannett will cease offering its prenatal product if and when the brand is restored to the marketplace.

 

Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

Lannett Company, Inc.

 

          (Registrant)

 

 

 

By: /s/ Arthur Bedrosian

 

    Arthur Bedrosian

 

    President and Chief Executive Officer

 

 

 

 

Dated: March 23, 2009

 

 

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