DUBLIN, July 18, 2016 /PRNewswire/ -- Perrigo Company plc
(NYSE: PRGO; TASE) today announced that the U.S. Food and Drug
Administration has approved the company's ANDA for omeprazole and
sodium bicarbonate capsules, 20mg/1100mg. This approval will
initiate the first store brand launch of an equivalent product to
Zegerid OTC® capsules. This product will be
packaged and marketed as a store brand or retailer 'own label'
brands and provides consumers with a high-quality, value
alternative to Zegerid OTC®. Shipments to retail
customers have already commenced.
Zegerid OTC® (omeprazole and sodium bicarbonate
capsules, 20mg/1100mg) is indicated for the treatment of frequent
heartburn. National brand sales for the twelve months ending
June 2016 were $27 million.
Perrigo's CEO John T. Hendrickson
stated, "This OTC product approval and launch illustrates Perrigo's
commitment to providing customers and consumers with high quality
value alternatives in important treatment categories. Important
product launches like the store brand version of Zegerid
OTC® are what drive Perrigo's ability to provide Quality
Affordable Healthcare Products® to customers and
consumers around the world."
About Perrigo
Perrigo Company plc, a top five global over-the-counter ("OTC")
consumer goods and pharmaceutical company, offers patients and
customers high quality products at affordable prices. From its
beginnings in 1887 as a packager of generic home remedies, Perrigo,
headquartered in Ireland, has
grown to become the world's largest manufacturer of OTC 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 receives royalties from Multiple
Sclerosis drug Tysabri®. Perrigo provides Quality Affordable
Healthcare Products® across a wide variety of product categories
and geographies primarily in North
America, Europe, and
Australia, as well as other
markets, including Israel,
China and Latin America. Visit Perrigo online at
(http://www.perrigo.com).
Forward-Looking Statements
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 the negative of those terms 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, future impairment charges, our ability to achieve our
guidance 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, and form 10-Q for the quarter ended April 2,
2016 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.
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SOURCE Perrigo Company plc