Healthcare Industry News: Perrigo Company
News Release - March 23, 2016
Perrigo And Allergan Announce First-To-Market Launch Of Store Brand OTC Equivalent To Mucinex(R) 1200mg ER TabletsDUBLIN, March 23, 2016 -- (Healthcare Sales & Marketing Network) -- Perrigo Company (NYSE: PRGO; TASE) and its partner Allergan plc (AGN) today announced the launch of guaifenesin 1200mg extended-release tablets, the OTC store brand equivalent to Mucinex® 1200mg extended-release tablets to retail and wholesale customers. First shipments of this new store branded product have been initiated and represents a first-to-market accomplishment for Perrigo and Allergan.
These products are packaged and marketed as store brands or retailer 'own label' brands and provide consumers a high-quality, value alternative to the Mucinex® 1200mg extended-release product.
Mucinex® 1200mg extended-release tablets (guaifenesin 1200mg extended-release tablets), indicated to relieve chest congestion and to break up mucus, making coughs more productive, produced sales of approximately $71 million through food, drug and mass merchants during that last twelve months.
Perrigo's Chairman and CEO Joseph C. Papa stated, "This product approval and launch demonstrates the power of matching Perrigo's OTC platform with Allergan's world-class generics R&D capabilities. Our teams together worked to bring this important product to our consumers and customers around the world. The Mucinex® family of products is an important offering to our customers and we look forward to launching the remaining products throughout 2016."
"Today's launch of Mucinex® 1200mg extended-release product underscores the power of bringing together two leading organizations in generic product development and OTC and store brand products to deliver high-quality, affordable medicines for patients around the world," said Robert Stewart, Allergan's Executive Vice President & President, Generics and Global Operations. "Perrigo has been an outstanding partner in bringing this and other Mucinex® store brand products to market, and we look forward to our continued efforts to bring additional formulations of the Mucinex® family of products forward for the patients and customers that we serve."
Perrigo Company plc is a top five global over-the-counter ("OTC") consumer goods and leading specialty pharmaceutical company, offering patients and customers high- quality products at affordable prices. From the Company's beginning in 1887 as a packager of home remedies, it has grown to become the world's largest manufacturer of OTC healthcare products and supplier of infant formulas for the store brand market. The Company is also a leading provider of generic extended topical prescription products, and it receives royalties from sales of the multiple sclerosis drug Tysabri®. The Company provides "Quality Affordable Healthcare Products®" across a wide variety of product categories and geographies, primarily in North America, Europe and Australia, as well as in other markets, including Israel and China. Visit Perrigo online at (http://www.perrigo.com).
Allergan plc, headquartered in Dublin, Ireland, is a unique, global pharmaceutical company and a leader in a new industry model – Growth Pharma. Allergan is focused on developing, manufacturing and commercializing innovative branded pharmaceuticals, high-quality generic and over-the-counter medicines and biologic products for patients around the world.
Allergan markets a portfolio of best-in-class products that provide valuable treatments for the central nervous system, eye care, medical aesthetics, gastroenterology, women's health, urology, cardiovascular and anti-infective therapeutic categories, and operates the world's third-largest global generics business, providing patients around the globe with increased access to affordable, high-quality medicines. Allergan is an industry leader in research and development, with one of the broadest development pipelines in the pharmaceutical industry and a leading position in the submission of generic product applications globally.
With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives.
For more information, visit Allergan's website at www.allergan.com.
Perrigo Forward Looking Statement
Certain statements in this press release are forward-looking statements. These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control, including the timing, amount and cost of share repurchases, and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, as well as the Company's subsequent filings with the SEC, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Allergan Forward-Looking Statement
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan's products; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Annual Report on Form 10-K for the year ended December 31, 2015 (certain of such periodic public filings having been filed under the "Actavis plc" name). Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
Source: Perrigo Company
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