Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
BEDROSIAN ARTHUR P
   2. Issuer Name and Ticker or Trading Symbol
LANNETT CO INC [LCI] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President and CEO
(Last)
(First)
(Middle)
9000 STATE ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
07/23/2002
(Street)

PHILADELPHIA, PA 19136		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/18/2007   A   16,600 (1) A $ 0 519,473 (2) D  
Common Stock 09/18/2007   A   13,731 (3) A $ 0 533,204 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Buy $ 4.6333 07/23/2002   A   18,000     (4) 07/23/2012 Common Stock 18,000 $ 0 18,000 D  
Option to Buy $ 11.95 10/28/2002   A   96,900     (5) 10/28/2012 Common Stock 96,900 $ 0 96,900 D  
Option to Buy $ 17.36 10/24/2003   A   33,000     (6) 10/24/2013 Common Stock 33,000 $ 0 33,000 D  
Option to Buy $ 16.04 05/11/2004   A   30,000     (7) 05/11/2014 Common Stock 30,000 $ 0 30,000 D  
Option to Buy $ 8 01/18/2006   A   25,000     (8) 01/18/2016 Common Stock 25,000 $ 0 25,000 D  
Option to Buy $ 6.89 11/28/2006   A   30,000     (9) 11/28/2016 Common Stock 30,000 $ 0 30,000 D  
Option to Buy $ 4.03 09/18/2007   A   75,000     (9) 09/18/2017 Common Stock 75,000 $ 0 75,000 D  
Option to Buy $ 2.8 09/18/2008   A   30,000     (10) 09/18/2018 Common Stock 30,000 $ 0 30,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BEDROSIAN ARTHUR P
9000 STATE ROAD
PHILADELPHIA, PA 19136		   X     President and CEO  

Signatures

 /s/ Arthur P. Bedrosian   02/18/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents restricted stock award vesting 1/3 each on 9/18/2008, 9/18/2009 and 9/18/2010.
(2) Includes 26,179 shares acquired at various times through October 2009 under the Company's Employee Stock Purchase Plan. Also includes 33,150 shares owned by Mr. Bedrosian's wife and 1,000 shares owned by Mr. Bedrosian's daughter. Mr. Bedrosian disclaims beneficial ownership of these shares.
(3) Represents a restricted stock award that fully vested on January 1, 2008.
(4) Exercisable in 1/3 annual increments on 7/23/2003, 7/23/2004 and 7/23/2005.
(5) Exercisable in 1/3 annual increments on 10/28/2003, 10/28/2004 and 10/28/2005.
(6) Exercisable in 1/3 annual increments on 10/24/2004, 10/24/2005 and 10/24/2006.
(7) Exercisable in 1/3 annual increments on 5/11/2005, 5/11/2006 and 5/11/2007.
(8) Exercisable in 1/3 annual increments on 1/18/2007, 1/18/2008 and 1/18/2009.
(9) Exercisable in 1/3 annual increments on 11/28/2007, 11/28/2008 and 11/28/2009.
(10) Exercisable in 1/3 annual increments on 9/18/2008, 9/18/2009 and 9/18/2010.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.