On Apr. 12, 2007, Cody Laboratories was acquired by the Lannett Company based in Philadelphia, Pennsylvania.

In 2006, Cody Laboratories moved into the 73,000 square foot former Walmart facility. In 2003, Cody Labs was founded by Ric Asherman, and was located at 331 33rd Street in downtown Cody. The company in its infancy produced phentermine hydrochloride and employed 10 to 15 people.