LCI Receives FDA Approval for New Drug
Lannett Company (LCI) announced on September 27 that is had received FDA approval for a new drug. The Oxycodone and Acetaminophin tablets USP, 5 mg/325 mg and 10 mg/325 mg are the therapeutic equivalent to the drug Percocet. U.S. sales of Oxycodone and Acetaminophin tablets USP, 5 mg/325 mg and 10 mg/325 mg totaled around $571 million last year.
Rocket Tickers caught the news and sent a level 2 alert at 6:51 am. The next trade occurred in pre-market hours at $17.80 before opening at $18.35 in regular market trading.
The price surged to $19.90 during the morning and closed at $19.25.
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