CODY, Wyo.- A pharmaceutical firm in Cody is set to close, which means the loss of 80 jobs, according to reports from two Wyoming newspapers.
Cody Laboratories opened in 2000, and Lanett Company in Philadelphia bought the business in 2007.
According to its website, Lannett is a generic pharmaceuticals company.
Lannett told its 80 employees on Tuesday it would be closing, according to the papers.
The newspapers cite information from spokesman Robert Jaffe, who said Lannett tried to sell Cody Labs, but could not find a buyer, and that the employees will be offered a generous severance package.
According to the Tribune, “Lannett began focusing on paying off its substantial debts – and pain-killing opioids fell out of favor.”
The Enterprise reports that Cody employees will exit the organization in three phases – the end of June, early August and late September.
Q2 News contacted Cody Laboratories and was referred to Jaffe, who has not returned a message.