8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Date of Report (Date of earliest event reported): April 12, 2007

LANNETT COMPANY, INC.

(Exact Name of Registrant as Specified in Its Charter)

Commission File No. 001-31298

State of Delaware	23-0787699
(State of Incorporation)	(I.R.S. Employer I.D. No.)

9000 State Road
Philadelphia, PA 19136
(215) 333-9000
(Address of principal executive offices and telephone number)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

TABLE OF CONTENTS

April 12, 2007 Press release

ITEM 8.01 Other Events

On April 12, 2007, the Company announced that it has acquired a bulk raw materials supplier, as set forth in the press release dated April 12, 2007, a copy of which is included as Exhibit 99.1 hereto. This information shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and is not incorporated by reference into any filing of the Company, whether made before or after the date of this report, regardless of any general incorporation language in the filing.

ITEM 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 April 12, 2007 press release

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed on its behalf by the
undersigned, hereunto duly authorized.

LANNETT COMPANY, INC
By:	/s/ Brian Kearns
	Vice President of Finance, Treasurer, and Chief Financial Officer
Date: April 17, 2007

EXHIBIT INDEX

Exhibit:	Description:
99.1	April 12, 2007 Press Release

EX-99.1

Exhibit 99.1

Contact:	Robert Jaffe/Evan Pondel
	PondelWilkinson Inc.
	(310) 279-5980

LANNETT ACQUIRES BULK RAW MATERIALS SUPPLIER

— Acquisition Dovetails with Integrated Growth Strategy —

Philadelphia, Pa., April 12, 2007 – Lannett Company, Inc. (AMEX: LCI), a manufacturer of generic pharmaceuticals, today announced it has acquired a privately-owned manufacturer/supplier of bulk active pharmaceutical ingredients (API). Financial terms of the agreement were not disclosed.

“This transaction will help facilitate Lannett’s growth and expand our product offering,” said Arthur Bedrosian, Lannett’s president and chief executive officer. “The acquisition provides us with access to raw materials, including certain difficult-to-source pharmaceutical ingredients, as well as the capability to manufacture an additional dosage form, thereby vertically integrating the company.”

Bedrosian added, “Our new subsidiary will continue to market raw materials to third parties, which will add revenues and further diversify our business and customer base. Moreover, we believe that acquiring a high quality API supplier will enhance our margins and lower our manufacturing costs.”

Lannett acquired a 75,000 square foot manufacturing facility inclusive of warehouse space, R&D equipment and other assets.

About Lannett Company:

Lannett Company, founded in 1942, develops, manufactures, packages, markets and distributes generic pharmaceutical products for a wide range of indications. For more information, visit Lannett Company’s Web site at www.lannett.com.

This news release contains certain statements of a forward-looking nature relating to future events or future business performance. Any such statements, whether expressed or implied, are subject to risks and uncertainties which can cause actual results to differ materially from those currently anticipated due to a number of factors which include, but are not limited to, the ability to successfully integrate the acquired operations including generating cost savings, adding new product and dosage forms, difficulty in predicting the timing or outcome of FDA or other regulatory approvals or actions, the ability to successfully commercialize products upon approval, Lannett’s estimated or anticipated future financial results, future inventory levels, future competition or pricing, future levels of operating expenses, product development efforts or performance, and other risk factors discussed in the company’s Form 10-K and other documents filed with the Securities and Exchange Commission from time to time. These forward-looking statements represent the company’s judgment as of the date of this news release. The company disclaims any intent or obligation to update these forward-looking statements.

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