Extracted from this filing and checked against the source text.
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
LANNETT CO INC announced a impairment with charges of estimated range of $6 million to $8 million affecting Torresdale facility.
- Type
- impairment
- Charge
- estimated range of $6 million to $8 million
- Affected area
- Torresdale facility
Exact text from the filing
the Company expects to record a non-cash impairment charge of its Torresdale facility in the estimated range of $6 million to $8 million in the second quarter of Fiscal 2023.
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Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
LANNETT CO INC announced a restructuring with charges of approximately $3.0 million affecting State Road and Torresdale facilities in Philadelphia, Pennsylvania (by 64 positions, equal to approximately 11% of the Company's total number of employees).
- Type
- restructuring
- Charge
- approximately $3.0 million
- Affected area
- State Road and Torresdale facilities in Philadelphia, Pennsylvania
- Headcount
- by 64 positions, equal to approximately 11% of the Company's total number of employees
Exact text from the filing
exiting our State Road and Torresdale facilities in Philadelphia, Pennsylvania by the end of our current fiscal year. The Company estimates that it will incur approximately $3.0 million in severance-related costs in connection with the 2022 Restructuring Plan, of which $0.4 million is expected to be incurred in the second quarter of Fiscal 2023. These expenses
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