Perrigo Company (PRGO) Wins Summary Judgment in Generic Mucinex® Case
1/12/2012 7:58:04 AM
ALLEGAN, Mich., Jan. 12, 2011 /PRNewswire/ -- Perrigo Company (NASDAQ: PRGO; TASE) announced today that the United States District Court for the Western District of Michigan has granted summary judgment in its favor in patent litigation involving Guaifenesin Extended-Release Tablets, 600 mg, a generic version of Mucinex® tablets. Perrigo had been sued by Adams Respiratory Therapeutics, Inc., (a subsidiary of Reckitt Benckiser Group plc.) the New Drug Application holder and patent owner. The court ruled that the Perrigo product did not infringe the patent in suit. Perrigo received FDA approval in December 2011 and expects to launch the product within 90 days.
Mucinex® (Guaifenesin Extended-Release Tablets, 600 mg), an expectorant indicated to relieve chest congestion and make coughs more productive, had sales of approximately $146 million through food, drug and mass merchandisers for the last 12 months, as measured by Information Resources, Inc.
Perrigo's Chairman and CEO Joseph C. Papa stated, "This is another example of Perrigo's significant investment and commitment to bringing new store brand products to the market. Perrigo saves consumers over $5 billion annually and continually strives to make quality healthcare more affordable."
Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes OTC and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, and active pharmaceutical ingredients (API). The Company is the world's largest manufacturer of OTC pharmaceutical products and infant formulas, both for the store brand market. The Company's primary markets and locations of manufacturing and logistics operations are the United States, Israel, Mexico, the United Kingdom and Australia. Visit Perrigo on the Internet (http://www.perrigo.com).
Note: Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. 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. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended June 25, 2011, as well as the Company's subsequent filings with the Securities and Exchange Commission, 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.
SOURCE Perrigo Company