Lannett voluntarily pays down $25 million of term loan borrowings

By Sarah Lizee

Olympia, Wash., Feb. 7 – Lannett Co., Inc. made a $25 million voluntary payment against its term loans, according to a press release.

"Paying down our debt is a key priority," chief executive officer Tim Crew said in the release.

"This $25 million payment will save us approximately $1.7 million in annualized cash interest expense, at current rates."

Lannett makes generic pharmaceutical products and is based in Philadelphia.

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