The Cody Enterprise reports that Cody Laboratories has been producing generic prescription pain medications for nearly two decades.
On Tuesday, the Philadelphia-based Lannett Co. informed its employees that attempts to find a potential buyer for its Cody subsidiary have failed in part because of concerns over lawsuits against opioid manufacturers.
Cody employees will be laid off in three phases through late September.
Company spokesman Robert Jaffe says in a media release that all employees are being offered a severance package and services to assist them with the transition.
Forward Cody CEO James Klessens expressed concern about the people losing jobs and says the organization has begun identifying ways to help them.
Information from: The Cody Enterprise, http://www.codyenterprise.com