Perrigo Company Announces Commercial Launch of Betamethasone Valerate Foam 0.12%
Published: Jan 16, 2013
ALLEGAN, Mich., Jan. 15, 2013 /PRNewswire/ -- Perrigo Company (Nasdaq: PRGO;TASE) today announced that it has begun commercial shipments of betamethasone valerate foam 0.12%, the generic equivalent of Luxiq® Foam, consistent with the date certain launch settlement previously announced. Cobrek Pharmaceuticals, Inc. ("Cobrek"), which was recently acquired by Perrigo, was first to file, making the product eligible for 180 days of marketing exclusivity. Perrigo is entitled to receive 100% of the profits from net sales of the product due to the Cobrek acquisition.
Betamethasone valerate foam 0.12% is indicated for the relief of corticosteroid-responsive skin conditions of the scalp (scalp psoriasis). Brand annual sales were approximately $40 million as measured by Symphony Health.
Perrigo's Chairman, President and CEO Joseph C. Papa stated, "We are very proud to be launching our sixth foam product, a dosage form which requires specialized development and manufacturing capabilities. We continue to be committed to making quality healthcare more affordable for our customers and to drive value for our shareholders."
From its beginnings as a packager of generic home remedies in 1887, Perrigo Company, based in Allegan, Michigan, has grown to become a leading global provider of quality, affordable healthcare products. The Company develops, manufactures and distributes over-the-counter ("OTC") and generic prescription ("Rx") pharmaceuticals, nutritional products and active pharmaceutical ingredients ("API") and is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. Perrigo's mission is to offer uncompromised "quality, affordable healthcare products", and it does so across a wide variety of product categories primarily in the United States, United Kingdom, Mexico, Israel and Australia, as well as certain other markets throughout the world, including Canada, China and Latin America. 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 30, 2012, 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