ALLEGAN, Mich., March 1, 2012 /PRNewswire/ -- Perrigo Company (Nasdaq: PRGO; TASE) announced that it has initiated market launch and made its first shipments of minoxidil 5% foam to its retail and wholesale customers. Marketed under store or own label brands, minoxidil 5% foam is comparable to Rogaine® 5% Foam Hair Regrowth Treatment. Rogaine® 5% Foam is a treatment for the regrowth of hair on the top of the scalp and its estimated annual sales are approximately $60 million.
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On February 10, 2011, Perrigo announced that it successfully settled its Hatch-Waxman litigation relating to minoxidil 5% foam brought by Stiefel Research Australia Pty. Ltd., a GSK Company. As Perrigo was the first party to challenge the brand patent, it is entitled to 180 days of generic marketing exclusivity.
Perrigo’s Chairman and CEO Joseph C. Papa stated, “This is another example of Perrigo’s commitment to launching difficult-to-manufacture pharmaceuticals in topical, lotion and foam delivery systems. We are excited to be the first store brand manufacturer to bring this exclusive product to U.S. consumers. We, and our wholesale and retail customers, are excited about the prospects for this important store brand launch. We continue to be focused upon our company mission of making quality healthcare more affordable to patients and consumers.”
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
