ALLEGAN, Mich., March 18, 2013 /PRNewswire/ -- Perrigo Company (Nasdaq: PRGO; TASE) today announced that it has begun shipments of Guaifenesin 600mg Extended-Release tablets in a launch to its retail and wholesale customers. This major new product is the first product that is generically equivalent to Mucinex® 600mg Extended Release tablets. The product will be packaged and marketed under store and proprietary brands and will be a high quality, value alternative to Mucinex® 600mg Extended-Release tablets.
Mucinex® 600mg Extended-Release tablets (Guaifenesin 600mg Extended-Release Tablets), an expectorant indicated to relieve chest congestion and make coughs more productive, had sales of approximately $135 million through food, drug and mass merchandisers for the last 12 months.
Perrigo's Chairman and CEO Joseph C. Papa stated, "This launch is representative of the Perrigo team's abilities to overcome challenging circumstances as evidenced by this product's complex formulation and patent challenges. The team worked diligently to formulate the product, prove the product's non-infringement to existing patents, validate and achieve commercial production, and bring the product to market. Perrigo's achievement represents the first store brand equivalent to be approved by the U.S. Food and Drug Administration and marketed to consumers as a high quality store brand product that will represent considerable savings when compared to the national brand. This is another excellent example of Perrigo's investment and commitment to making quality healthcare more affordable for our customers."
From its beginnings as a packager of generic home remedies in 1887, Allegan, Michigan-based Perrigo Company has grown to become a leading global provider of quality, affordable healthcare products. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, pet health, dietary supplements and active pharmaceutical ingredients (API). 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 logistics operations have evolved over the years to include the United States, Israel, Mexico, the United Kingdom, India, China 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 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