Lannett pays down $25 million revolver, bringing balance to zero

By Susanna Moon

Chicago, May 9 – Lannett Co., Inc. repaid the remaining $25 million of its revolving credit facility.

Lannett has paid down $125 million of the revolver since January, which will yield about $7.3 million of savings in annualized cash interest expense at current rates, according to a company press release.

“Although our industry is facing a competitive pricing environment, our business remains solid and we will continue to use our strong cash flows to further reduce our outstanding debt,” Arthur Bedrosian, chief executive officer of Lannett, said in the release.

Lannett makes generic pharmaceutical products and is based in Philadelphia.

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