(Wyo)-Cody Labs Has Closed
CODY, Wyo. (AP) - Cody Laboratories, the only generic prescription drug manufacturing company in Wyoming, has closed after nearly two decades, sold its equipment, and is in the process of selling its property in Cody.
Ric Asherman founded Cody Labs in 2000, but sold it to Philadelphia-based Lannett Inc. in 2007. Two years ago, Lannett was negotiating with the state on funding to expand but last September announced plans to sell the Cody operation.
Efforts to sell proved fruitless and Lannett said in June that about 80 Cody Lab employees would exit the organization by late September and the company was on track to qualify a plant in New York as an alternative manufacturing site.
Lannett's future itself could be in doubt. CEO Timothy Crew says the company is a defendant in one opioid lawsuit.
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