EXHIBIT 99.1

LANNETT COMPANY, INC.
FOR DECEMBER 1, 2004 RELEASE

              LANNETT COMPANY, INC. CHIEF FINANCIAL OFFICER RESIGNS

Lannett Company, Inc. (AMEX:"LCI") today announced that Larry Dalesandro, its
chief financial officer (CFO), has resigned effective December 1, 2004 for
personal reasons. Lannett has appointed Michael Tuterice as interim chief
financial officer of the Company. Mr. Dalesandro has agreed to assist in the
transition of the chief financial officer duties to Mr. Tuterice, and to be
available for assistance and consultation to Lannett throughout the balance of
the current fiscal year.

"Speaking on behalf of his many colleagues here at Lannett, Larry has been an
instrumental part of Lannett's growth in the past few years. Mr. William Farber,
our Chief Executive Officer and I will miss his valuable contribution to our
Company. All of us here at Lannett wish Larry the very best in his future
endeavors", said Arthur Bedrosian, President.

The appointment of Michael Tuterice as interim Chief Financial Officer will
provide Lannett with a smooth transition process for this important Company
function. Mr. Tuterice has assisted Mr. Dalesandro as Financial Reporting
Manager this past year and has a number of years experience prior to joining
Lannett. He's a graduate of St. Joseph's University with a BS in Business
Administration, Cum Laude. Like Mr. Dalesandro, he is a Certified Public
Accountant (CPA) and an alumnus of Grant Thornton LLP where he achieved the
position of Audit Supervisor. His other work experience included stints as
assistant Controller and Controller, as well as an Adjunct Professor at
Immaculata College.

"I am confident Mr. Tuterice will handle the transition to interim CFO smoothly
and without interruption" said Mr. Farber, Chief Executive Officer and Chairman
of the Board of Directors.

THIS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS, WHICH EXPRESS THE CURRENT
BELIEFS AND EXPECTATIONS OF MANAGEMENT. SUCH STATEMENTS ARE BASED ON CURRENT
EXPECTATIONS AND INVOLVE A NUMBER OF KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES
THAT COULD CAUSE LANNETT'S FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS TO DIFFER
SIGNIFICANTLY FROM THE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED
BY SUCH FORWARD-LOOKING STATEMENTS. IMPORTANT FACTORS THAT COULD CAUSE OR
CONTRIBUTE TO SUCH DIFFERENCES INCLUDE LANNETT'S ABILITY TO SUCCESSFULLY DEVELOP
AND COMMERCIALIZE ADDITIONAL PHARMACEUTICAL PRODUCTS, THE INTRODUCTION OF
COMPETITIVE GENERIC PRODUCTS, THE IMPACT OF COMPETITION FROM BRAND-NAME
COMPANIES THAT SELL THEIR OWN GENERIC PRODUCTS OR SUCCESSFULLY EXTEND THE
EXCLUSIVITY PERIOD OF THEIR



BRANDED PRODUCTS, THE AVAILABILITY OF PRODUCT LIABILITY COVERAGE IN THE CURRENT
INSURANCE MARKET, THE IMPACT OF PHARMACEUTICAL INDUSTRY REGULATION AND PENDING
LEGISLATION THAT COULD AFFECT THE PHARMACEUTICAL INDUSTRY, THE DIFFICULTY OF
PREDICTING U.S. FOOD AND DRUG ADMINISTRATION AND OTHER REGULATORY AUTHORITY
APPROVALS, ACCEPTANCE AND DEMAND FOR NEW PHARMACEUTICAL PRODUCTS AND NEW
THERAPIES, UNCERTAINTIES REGARDING MARKET ACCEPTANCE OF INNOVATIVE PRODUCTS
NEWLY LAUNCHED, CURRENTLY BEING SOLD OR IN DEVELOPMENT, THE IMPACT OF
RESTRUCTURING OF CLIENTS, RELIANCE ON STRATEGIC ALLIANCES, EXPOSURE TO PRODUCT
LIABILITY CLAIMS, DEPENDENCE ON PATENT AND OTHER PROTECTIONS FOR INNOVATIVE
PRODUCTS, FLUCTUATIONS IN CURRENCY, EXCHANGE AND INTEREST RATES, OPERATING
RESULTS AND OTHER FACTORS THAT ARE DISCUSSED IN LANNETT'S ANNUAL REPORT ON FORM
10K FOR ITS FISCAL YEAR ENDED JUNE 30, 2004 AND ITS OTHER FILINGS WITH THE U.S.
SECURITIES AND EXCHANGE COMMISSION. FORWARD-LOOKING STATEMENTS SPEAK ONLY AS OF
THE DATE ON WHICH THEY ARE MADE, AND THE COMPANY UNDERTAKES NO OBLIGATION TO
UPDATE PUBLICLY OR REVISE ANY FORWARD-LOOKING STATEMENT, WHETHER AS A RESULT OF
NEW INFORMATION, FUTURE DEVELOPMENTS OR OTHERWISE.

Lannett Company's common stock trades on the American Stock Exchange under the
symbol "LCI."

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