Lannett Company, Inc. has entered into an agreement with Amneal Pharmaceuticals, Inc. with regard to Levothyroxine Sodium Tablets USP. Amneal will be Lannett’s sole customer for Levothyroxine Sodium beginning December 1, 2018 through March 23, 2019, and will re-sell the products to its customers. Lannett will receive $50 million upfront, other terms of the transaction were not disclosed.

“This agreement benefits all parties, including and importantly patients and customers who can be assured of a definitive transition and supply plan for this important medication,” said Tim Crew, chief executive officer of Lannett.  “For Lannett, this transaction guarantees $50 million of gross profit, which exceeded our previous projections for the 16 week period.”