Exhibit 99.2

LANNETT COMPANY, INC.

FISCAL YEAR 2015

RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION

(In thousands, except share and per share data)

	Three months ended							Three months ended							Three months ended									Three months ended
	September 30,							December 31,							March 31,									June 30,
	GAAP					Non-GAAP		GAAP					Non-GAAP		GAAP						Non-GAAP			GAAP					Non-GAAP
	Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted		Reported			Adjustments			Adjusted			Reported		Adjustments			Adjusted
	2014		2014			2014		2014		2014			2014		2015			2015			2015			2015		2015			2015
Net sales	$	93,387	$	—		$	93,387	$	114,822	$	—		$	114,822	$	99,352		$	—		$	99,352		$	99,276	$	—		$	99,276
Cost of sales	21,800		—			21,800		27,600		—			27,600		23,694			—			23,694			27,250		(140		)(a)	27,110
Amortization of intangibles	20		(20		)(b)	—		21		(21		)(b)	—		20			(20		)(b)	—			76		(76		)(b)	—
Gross profit	71,567		20			71,587		87,201		21			87,222		75,638			20			75,658			71,950		216			72,166
Operating expenses:
Research and development expenses	6,363		—			6,363		7,836		—			7,836		9,159			—			9,159			6,984		—			6,984
Selling, general, and administrative expenses	10,483		—			10,483		10,823		—			10,823		11,617			—			11,617			12,283		—			12,283
Acquisition-related expenses	70		(70		)(c)	—		1,999		(1,999		)(c)	—		587			(587		)(c)	—			1,665		(1,665		)(c)	—
Total operating expenses	16,916		(70		)	16,846		20,658		(1,999		)	18,659		21,363			(587		)	20,776			20,932		(1,665		)	19,267
Operating income	54,651		90			54,741		66,543		2,020			68,563		54,275			607			54,882			51,018		1,881			52,899
Other income (loss)	99		—			99		713		—			713		(42		)	—			(42		)	165		—			165
Income before income tax	54,750		90			54,840		67,256		2,020			69,276		54,233			607			54,840			51,183		1,881			53,064
Income tax expense	19,800		33		(d)	19,833		22,435		697		(d)	23,132		17,973			198		(d)	18,171			17,222		637		(d)	17,859
Net income	34,950		57			35,007		44,821		1,323			46,144		36,260			409			36,669			33,961		1,244			35,205
Less: Net income attributable to noncontrolling interest	18		—			18		10		—			10		27			—			27			18		—			18
Net income attributable to Lannett Company, Inc.	$	34,932	$	57		$	34,989	$	44,811	$	1,323		$	46,134	$	36,233		$	409		$	36,642		$	33,943	$	1,244		$	35,187
Earnings per common share attributable to Lannett Company, Inc.
Basic	$	0.98				$	0.98	$	1.26				$	1.29	$	1.01					$	1.02		$	0.94				$	0.97
Diluted	$	0.94				$	0.95	$	1.21				$	1.24	$	0.97					$	0.98		$	0.91				$	0.94
Weighted average common shares outstanding:
Basic	35,597,931					35,597,931		35,669,904					35,669,904		35,880,954						35,880,954			36,164,719					36,164,719
Diluted	36,972,646					36,972,646		37,074,024					37,074,024		37,210,138						37,210,138			37,321,633					37,321,633

	Six months ended							Nine months ended							Twelve months ended
	December 31,							March 31,							June 30,
	GAAP					Non-GAAP		GAAP					Non-GAAP		GAAP					Non-GAAP
	Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted
	2014		2014			2014		2015		2015			2015		2015		2015			2015
Net sales	$	208,209	$	—		$	208,209	$	307,561	$	—		$	307,561	$	406,837	$	—		$	406,837
Cost of sales	49,400		—			49,400		73,094		—			73,094		100,344		(140		)(a)	100,204
Amortization of intangibles	41		(41		)(b)	—		61		(61		)(b)	—		137		(137		)(b)	—
Gross profit	158,768		41			158,809		234,406		61			234,467		306,356		277			306,633
Operating expenses:
Research and development expenses	14,199		—			14,199		23,358		—			23,358		30,342		—			30,342
Selling, general, and administrative expenses	21,306		—			21,306		32,923		—			32,923		45,206		—			45,206
Acquisition-related expenses	2,069		(2,069		)(c)	—		2,656		(2,656		)(c)	—		4,321		(4,321		)(c)	—
Total operating expenses	37,574		(2,069		)	35,505		58,937		(2,656		)	56,281		79,869		(4,321		)	75,548
Operating income	121,194		2,110			123,304		175,469		2,717			178,186		226,487		4,598			231,085
Other income	812		—			812		770		—			770		935		—			935
Income before income tax	122,006		2,110			124,116		176,239		2,717			178,956		227,422		4,598			232,020
Income tax expense	42,235		730		(d)	42,965		60,208		928		(d)	61,136		77,430		1,565		(d)	78,995
Net income	79,771		1,380			81,151		116,031		1,789			117,820		149,992		3,033			153,025
Less: Net income attributable to noncontrolling interest	28		—			28		55		—			55		73		—			73
Net income attributable to Lannett Company, Inc.	$	79,743	$	1,380		$	81,123	$	115,976	$	1,789		$	117,765	$	149,919	$	3,033		$	152,952
Earnings per common share attributable to Lannett Company, Inc.
Basic	$	2.24				$	2.28	$	3.25				$	3.30	$	4.18				$	4.27
Diluted	$	2.15				$	2.19	$	3.13				$	3.18	$	4.04				$	4.12
Weighted average common shares outstanding:
Basic	35,633,917					35,633,917		35,715,061					35,715,061		35,827,167					35,827,167
Diluted	37,025,667					37,025,667		37,082,138					37,082,138		37,127,117					37,127,117

(a) To exclude amortization of a fair value step-up in inventory related to the acquisition of Silarx Pharmaceuticals, Inc.

(b) To exclude amortization of purchased intangible assets primarily related to the acquisition of Silarx Pharmaceuticals, Inc. and other purchased intangibles

(c) To exclude acquisition-related expenses primarily related to the completed acquisition of Silarx Pharmaceuticals Inc., the pending acquisition of Kremers Urban Pharmaceuticals Inc., and other prospective acquisitions

(d) The tax effect of the pre-tax adjustments included above at applicable tax rates

LANNETT COMPANY, INC.

FISCAL YEAR 2014

RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION

(In thousands, except share and per share data)

	Three months ended								Three months ended							Three months ended							Three months ended
	September 30,								December 31,							March 31,							June 30,
	GAAP						Non-GAAP		GAAP					Non-GAAP		GAAP					Non-GAAP		GAAP					Non-GAAP
	Reported			Adjustments			Adjusted		Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted
	2013			2013			2013		2013		2013			2013		2014		2014			2014		2014		2014			2014
Net sales	$	45,829		$	—		$	45,829	$	67,326	$	—		$	67,326	$	79,997	$	—		$	79,997	$	80,619	$	—		$	80,619
Cost of sales	23,953			—			23,953		25,817		—			25,817		23,398		—			23,398		24,671		—			24,671
Amortization of intangibles	470			(470		)(a)	—		467		(467		)(a)	—		467		(467		)(a)	—		20		(20		)(a)	—
JSP contract renewal cost	20,100			(20,100		)(b)	—		—		—			—		—		—			—		—		—			—
Gross profit	1,306			20,570			21,876		41,042		467			41,509		56,132		467			56,599		55,928		20			55,948
Operating expenses:
Research and development expenses	4,745			—			4,745		5,785		—			5,785		10,583		—			10,583		6,600		—			6,600
Selling, general, and administrative expenses	7,179			—			7,179		9,890		—			9,890		9,560		—			9,560		11,977		—			11,977
Total operating expenses	11,924			—			11,924		15,675		—			15,675		20,143		—			20,143		18,577		—			18,577
Operating income (loss)	(10,618		)	20,570			9,952		25,367		467			25,834		35,989		467			36,456		37,351		20			37,371
Other income	389			—			389		1,025		—			1,025		297		—			297		220		—			220
Income (loss) before income tax	(10,229		)	20,570			10,341		26,392		467			26,859		36,286		467			36,753		37,571		20			37,591
Income tax expense (benefit)	(4,242		)	7,639		(c)	3,397		9,800		178		(c)	9,978		13,280		178		(c)	13,458		14,019		33		(c)	14,052
Net income (loss)	(5,987		)	12,931			6,944		16,592		289			16,881		23,006		289			23,295		23,552		(13		)	23,539
Less: Net income attributable to noncontrolling interest	8			—			8		26		—			26		11		—			11		17		—			17
Net income (loss) attributable to Lannett Company, Inc.	$	(5,995	)	$	12,931		$	6,936	$	16,566	$	289		$	16,855	$	22,995	$	289		$	23,284	$	23,535	$	(13	)	$	23,522
Earnings (loss) per common share attributable to Lannett Company, Inc.
Basic	$	(0.20	)				$	0.23	$	0.48				$	0.49	$	0.66				$	0.66	$	0.66				$	0.66
Diluted	$	(0.20	)				$	0.23	$	0.46				$	0.46	$	0.63				$	0.63	$	0.64				$	0.64
Weighted average common shares outstanding:
Basic	29,586,237						29,586,237		34,677,426					34,677,426		35,025,968					35,025,968		35,413,363					35,413,363
Diluted	29,586,237						30,746,199		36,276,326					36,276,326		36,769,593					36,769,593		36,913,944					36,913,944

	Six months ended							Nine months ended							Twelve months ended
	December 31,							March 31,							June 30,
	GAAP					Non-GAAP		GAAP					Non-GAAP		GAAP					Non-GAAP
	Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted		Reported		Adjustments			Adjusted
	2013		2013			2013		2014		2014			2014		2014		2014			2014
Net sales	$	113,155	$	—		$	113,155	$	193,152	$	—		$	193,152	$	273,771	$	—		$	273,771
Cost of sales	49,770		—			49,770		73,168		—			73,168		97,839		—			97,839
Amortization of intangibles	937		(937		)(a)	—		1,404		(1,404		)(a)	—		1,424		(1,424		)(a)	—
JSP contract renewal cost	20,100		(20,100		)(b)	—		20,100		(20,100		)(b)	—		20,100		(20,100		)(b)	—
Gross profit	42,348		21,037			63,385		98,480		21,504			119,984		154,408		21,524			175,932
Operating expenses:
Research and development expenses	10,530		—			10,530		21,113		—			21,113		27,713		—			27,713
Selling, general, and administrative expenses	17,069		—			17,069		26,629		—			26,629		38,606		—			38,606
Total operating expenses	27,599		—			27,599		47,742		—			47,742		66,319		—			66,319
Operating income	14,749		21,037			35,786		50,738		21,504			72,242		88,089		21,524			109,613
Other income	1,414		—			1,414		1,711		—			1,711		1,931		—			1,931
Income before income tax	16,163		21,037			37,200		52,449		21,504			73,953		90,020		21,524			111,544
Income tax expense	5,558		7,817		(c)	13,375		18,838		7,995		(c)	26,833		32,857		8,028		(c)	40,885
Net income	10,605		13,220			23,825		33,611		13,509			47,120		57,163		13,496			70,659
Less: Net income attributable to noncontrolling interest	34		—			34		45		—			45		62					62
Net income attributable to Lannett Company, Inc.	$	10,571	$	13,220		$	23,791	$	33,566	$	13,509		$	47,075	$	57,101	$	13,496		$	70,597
Earnings per common share attributable to Lannett Company, Inc.
Basic	$	0.33				$	0.74	$	1.01				$	1.42	$	1.70				$	2.10
Diluted	$	0.31				$	0.71	$	0.97				$	1.36	$	1.62				$	2.01
Weighted average common shares outstanding:
Basic	32,131,831					32,131,831		33,082,460					33,082,460		33,663,589					33,663,589
Diluted	33,561,454					33,561,454		34,586,007					34,586,007		35,193,376					35,193,376

(a) To exclude amortization of purchased intangible assets

(b) To exclude the non-recurring cost related to the Jerome Stevens Pharmaceuticals Inc. contract renewal

(c) The tax effect of the pre-tax adjustments included above at applicable tax rates