CODY, WYO. — Philadelphia-based pharmaceutical manufacturer Lannett, Co. has approved a plan to sell Cody Laboratories, a wholly owned subsidiary that produces active pharmaceutical ingredients used in prescription opioids. In a US Securities and Exchange Commission statement filed Friday, the company cited an effort to “focus on nearer term opportunities and an overall strategic shift toward the company’s core competencies and optimization of its cost structure” as the basis for the planned sale. Publicly traded Lannett also cited concerns about Cody Labs’ “timeline to profitability,” and significant ongoing investment and operational costs. Continue Reading →