Perrigo And Allergan Announce First-To-Market Launch Of Store Brand OTC Equivalent To Mucinex® 1200mg DM Extended-Release Tablets
DUBLIN, May 3, 2016 /PRNewswire/ -- Perrigo Company (NYSE: PRGO; TASE) and its partner Allergan plc (NYSE: AGN) today announced the launch of guaifenesin 1200mg and dextromethorphan HBr 60mg extended-release tablets, the first OTC store brand equivalent to Mucinex® 1200mg DM extended-release tablets, being introduced to retail and wholesale customers. First shipments of this new store branded product have been initiated and represent a first-to-market accomplishment for Perrigo and Allergan.
These products are packaged and marketed as store brands or retailer 'own label' brands and provide consumers a high-quality, value alternative to the Mucinex® 1200mg DM extended-release product.
Mucinex® 1200mg DM extended-release tablets (guaifenesin 1200mg and dextromethorphan HBr 60mg extended-release tablets) are indicated to control coughs and to break up mucus, making coughs more productive. The Mucinex® 1200mg DM extended-release product produced sales of approximately $108 million through food, drug and mass merchants during the last twelve months.
Perrigo's CEO John T. Hendrickson stated, "This is another great example of the Perrigo and Allergan teams continuing to leverage their unique capabilities in providing U.S. consumers greater savings and access to key new store brand OTC products. These new store brand products, which are equivalent to the Mucinex® brand, are an important offering to our customers as they deliver the first high-quality, value alternative available in the marketplace. Allergan has been an excellent partner in developing this range of new store brand guaifenesin ER products and we look forward to launching the remaining Mucinex® equivalent products for the store brand market throughout the balance of this year."
"Today's launch adds to the record of success we have had in bringing together Allergan's leadership in generic product development with Perrigo's strength in marketing OTC and store brand products to deliver high-quality, affordable medicines for patients around the world," said Robert Stewart, Allergan's Executive Vice President & President, Generics and Global Operations. "We look forward to our continued efforts to bring additional formulations that are equivalent to the Mucinex® family of products forward for the patients and customers that we serve."
Perrigo Company plc is a top five global over-the-counter ("OTC") consumer goods and leading specialty pharmaceutical company, offering patients and customers high- quality products at affordable prices. From the Company's beginning in 1887 as a packager of home remedies, it has grown to become the world's largest manufacturer of OTC healthcare products and supplier of infant formulas for the store brand market. The Company is also a leading provider of generic extended topical prescription products, and it receives royalties from sales of the multiple sclerosis drug Tysabri®. The Company provides "Quality Affordable Healthcare Products®" across a wide variety of product categories and geographies, primarily in North America, Europe and Australia, as well as in other markets, including Israel and China. Visit Perrigo online at (http://www.perrigo.com).
Allergan plc, headquartered in Dublin, Ireland, is a unique, global pharmaceutical company and a leader in a new industry model – Growth Pharma. Allergan is focused on developing, manufacturing and commercializing innovative branded pharmaceuticals, high-quality generic and over-the-counter medicines and biologic products for patients around the world.
Allergan markets a portfolio of best-in-class products that provide valuable treatments for the central nervous system, eye care, medical aesthetics, gastroenterology, women's health, urology, cardiovascular and anti-infective therapeutic categories, and operates the world's third-largest global generics business, providing patients around the globe with increased access to affordable, high-quality medicines. Allergan is an industry leader in research and development, with one of the broadest development pipelines in the pharmaceutical industry and a leading position in the submission of generic product applications globally.
With commercial operations in approximately 100 countries, Allergan is committed to working with physicians, healthcare providers and patients to deliver innovative and meaningful treatments that help people around the world live longer, healthier lives.
For more information, visit Allergan's website at www.allergan.com.
Perrigo Forward Looking Statement
Certain statements in this press release are forward-looking statements. 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, including the timing, amount and cost of share repurchases, and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, as well as the Company's subsequent filings with the SEC, 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.
Allergan Forward-Looking Statement
Statements contained in this press release that refer to future events or other non-historical facts are forward-looking statements that reflect Allergan's current perspective of existing trends and information as of the date of this release. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements. Actual results may differ materially from Allergan's current expectations depending upon a number of factors affecting Allergan's business. These factors include, among others, the difficulty of predicting the timing or outcome of FDA approvals or actions, if any; the impact of competitive products and pricing; market acceptance of and continued demand for Allergan's products; difficulties or delays in manufacturing; and other risks and uncertainties detailed in Allergan's periodic public filings with the Securities and Exchange Commission, including but not limited to Allergan's Annual Report on Form 10-K for the year ended December 31, 2015 (certain of such periodic public filings having been filed under the "Actavis plc" name). Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
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For further information: PERRIGO CONTACTS - Bradley Joseph, Vice President, Global Investor Relations, (269) 686-3373, firstname.lastname@example.org, or Arthur J. Shannon, Vice President, Global Corporate Affairs and European Investor Relations, (269) 686-1709, email@example.com; ALLERGAN CONTACTS - Investors: Lisa DeFranceso, (862) 261-7152, or Media: Mark Marmur, (862) 261-7558