cody labs

Recent Posts

State loan for Cody Labs advances, review continues

Lannett Co. CEO Arthur Bedrosian appears on the Fox Business program Mornings With Maria in 2015 to discuss his company's work in the generic pharmaceutical industry.

The Wyoming State Loan and Investment Board voted last week to approve an $11 million low-interest loan for pharmaceutical ingredient manufacturer Cody Laboratories. The approval came despite an ongoing federal grand jury investigation of Cody Labs' parent company for possible antitrust violations. On the same day the State Loan and Investment Board approved the loan, new information was published by Forbes, detailing what it said was Lannett's 1,650 percent price hike for a generic anti-psychotic medication, as well as an ongoing dispute between Lannett CEO Arthur Bedrosian and the Internal Revenue Service, which claims Bedrosian owes more than $1 million in penalties and interest. Continue Reading →

Filed under: , ,

Cody Labs’ parent company draws scrutiny for ‘staggering price increases’

Lannett Co. CEO Arthur Bedrosian appears on the Fox Business program Mornings With Maria in 2015 to discuss his company's work in the generic pharmaceutical industry.

As the Wyoming State Loan and Investment Board prepares to meet Thursday to consider a proposed $9.87 million low-interest loan for pharmaceutical ingredient manufacturer Cody Laboratories, the applicant's parent company finds itself at the center of a growing national backlash over spiraling prescription drug prices. Cody Labs is a wholly owned subsidiary of Philadelphia-based Lannett Co., a generic pharmaceutical manufacturer founded in 1942 and valued at nearly $1 billion. Lannett has hiked prices on some of its key products by more than 800 percent in recent years. Continue Reading →

Filed under: ,

Limited oversight in Cody Labs loan review

The Wyoming State Loan and Investment Board votes Thursday on a proposed $9.87 million low-interest loan for pharmaceutical ingredient manufacturer Cody Laboratories, a move proponents say will help create dozens of new jobs and generate more than $4 million in state and local taxes over 11 years. But two other companies are vying for limited funds from the same state loan program, and the vote comes as Cody Labs' parent corporation faces growing scrutiny over its generic prescription drug pricing. Philadelphia-based Lannett Co. has increased prices on some of its key generic drug products by more than 800 percent in recent years. Continue Reading →

Filed under: ,