PHILADELPHIA--(BUSINESS WIRE)--Lannett Company, Inc. (NYSE AMEX: LCI) today announced that the U.S. Food and Drug Administration (FDA) has approved the company’s 505(b)(2) New Drug Application (NDA) for Morphine Sulfate Oral Solution on June 23, 2011. Sales of Morphine Sulfate Oral Solution for the last 12 months at Average Wholesale prices (AWP) were approximately $31.7 million, according to Wolters Kluwer. The company expects to commence shipping the product shortly.
