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PHILADELPHIA — Jeffrey Farber, vice chairman at Lannett Co., has been named chairman, succeeding Ronald West.
The generic drug maker said Monday that Farber takes over the chairman’s post effective immediately. West is stepping down from that post because of health reasons but will stay on the board, according to the company.
Elected to Lannett’s board in May 2006, Farber has served as vice chairman since last August. He joined the company in August 2003 as secretary.
Farber is president and owner of Auburn Pharmaceutical, a national generic pharmaceutical distributor. Before starting Auburn, he served in various positions at Major Pharmaceutical, rising to become president of its Midwest division. He also served on the board of Vitarine Pharmaceuticals, the manufacturing division of Major.
"Lannett has made excellent progress under Ron West’s stewardship," Farber stated. "On behalf of the board, I want to thank Ron for his leadership and dedication. We look forward to his continued counsel as we work with Lannett’s talented management team to further grow the company and enhance shareholder value."
West was elected to the Lannett board in 2002, became vice chairman in 2004 and was named lead director in 2009.
