Lannett pays down $75 million of revolver, eyes further debt repayment

By Angela McDaniels

Tacoma, Wash., Jan. 23 – Lannett Co., Inc. made a $75 million payment against its revolving credit facility, according to a company news release.

“This payment is consistent with our commitment to reduce debt and will save us approximately $4.1 million in annualized cash interest expense, at current rates," chief executive officer Arthur Bedrosian said in the news release.

“We look forward to using our strong cash flows to further reduce our outstanding debt."

Lannett makes generic pharmaceutical products and is based in Philadelphia.

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