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news.Cody Laboratories, a wholly owned subsidiary of Lannett Company, has received approval for its import registration application from the US Drug Enforcement Administration.
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This approval allows Lannett, through Cody, to directly import raw materials for processing into controlled substance pain management products.
The Drug Enforcement Administration (DEA) considered a number of factors and determined that the registration of Cody to import the basic classes of controlled substances is consistent with the public interest. DEA investigated Cody, including inspection and testing of the company’s physical security systems, to ensure that the company’s registration would be consistent with the public interest.
Arthur Bedrosian, Lannett’s president and CEO, said: “The import license allows Lannett to enter the pain management market, which has few competitors and favorable demographics. We have made substantial investments, including upgrading Cody’s facilities, necessary to commercialize this opportunity. Adding pain management products to our portfolio will expand and diversify our business and customer base.”