Perrigo Receives FDA Clearance to Market Store Brand Version of Gerber® Good Start® Gentle Infant Formula
ALLEGAN, Mich., Nov. 15, 2011 /PRNewswire/ -- Perrigo Company (NASDAQ: PRGO; TASE) today announced it received Food and Drug Administration (FDA) clearance to market and distribute infant formula that contains 100 percent partially hydrolyzed whey protein. The store brand Comfort Care™ Infant Formula is designed for babies with fussiness or gas and will be sold as a nutritionally comparable version of Gerber® GOOD START® Gentle Infant Formula at leading retailers in 2012. Sales of the national brand are estimated to be $55 million for the latest 52-weeks, as measured by Information Resources, Inc.
Perrigo's Chairman and CEO Joseph C. Papa stated, "Perrigo is pleased to receive clearance from the FDA to market a national brand equivalent of one of the best-selling infant formula brands in the United States. Our presence in the infant formula market is growing as we continue to offer high quality nutritional products like Comfort Care™ Infant Formula to parents that support healthy growth and development while meeting the same nutritional and safety standards as the national brand. Perrigo continues to deliver on its mission to provide quality, affordable healthcare to consumers."
The new store brand Comfort Care™ Infant Formula contains prebiotics to support a baby's natural immune system, DHA & ARA to support brain and eye development, and is easy to digest. More information on the new specialty baby formula is available on http://www.storebrandformula.com.
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
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Web Site: http://www.perrigo.com