Perrigo Company (NASDAQ: PRGO)(TASE: PRGO) announced today that it began shipping Famotidine Complete chewable tablets (famotidine 10 mg; calcium carbonate 800mg; magnesium hydroxide 165 mg) to customers across the U.S. under their store brand labels. Perrigo won a successful patent challenge for Famotidine Complete, the national brand equivalent to Pepcid Complete® marketed by Johnson & Johnson - Merck Consumer Pharmaceuticals.
It is estimated that Pepcid Complete® has annual sales of approximately $100 million. The new store brand product is indicated for heartburn associated with acid indigestion and sour stomach.
Perrigo's President and CEO Joseph C. Papa stated, "This is another example of Perrigo's investment in new products making quality healthcare more affordable to American consumers. Famotidine Complete is an important new store brand product in the gastrointestinal segment for our retail and wholesale customers and enables them to provide significant savings for the consumer. This is an important addition to our portfolio of products that saves the consumer of over-the-counter (OTC) healthcare products approximately $1 billion annually when compared to the higher priced national brands."
Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products. The Company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. The Company's primary markets and locations of manufacturing facilities are the United States, Israel, Mexico and the United Kingdom. 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, 2007, 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.
First Call Analyst:
FCMN Contact: email@example.com
SOURCE: Perrigo Company
CONTACT: Arthur J. Shannon, Vice President, Investor Relations and
Communication of Perrigo Company, +1-269-686-1709, firstname.lastname@example.org
Web site: http://www.perrigo.com/