DUBLIN, April 12, 2016 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE) today announced the first-to-market launch of the over-the-counter (OTC) store brand equivalent to Glucerna® aseptic adult nutritional shake for people with diabetes. First shipments of this new store brand aseptic shake have already been initiated. This product is packaged and marketed as a store brand or retailer 'own label' brand and provides consumers a high-quality, value alternative to the Glucerna® product.
Glucerna® helps to manage hunger as part of a diabetes weight loss plan and includes slowly digestible carbohydrates designed to help minimize blood sugar spikes. The aseptic packaging process ensures that food remains sterile and free from bacteria or other harmful microorganisms. Glucerna® nutritional shakes produced sales of approximately $120 million through food, drug and mass merchants during the twelve months ending March 2016.
Perrigo's Chairman and CEO Joseph C. Papa stated, "This first-to-market OTC product launch adds another important product to our adult nutritional portfolio. This launch also underscores Perrigo's commitment to providing Quality Affordable Healthcare Products®, in important therapeutic areas such as diabetes, to our customers and consumers worldwide."
Perrigo Company plc, a top five global over-the-counter (OTC) consumer goods and pharmaceutical company, offers consumers and customers high quality products at affordable prices. From its beginnings in 1887 as a packager of generic home remedies, Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of OTC products and supplier of infant formulas for the store brand market. The Company is also a leading provider of branded OTC products, generic extended topical prescription products and receives royalties from Multiple Sclerosis drug Tysabri®. Perrigo provides "Quality Affordable Healthcare Products®" across a wide variety of product categories and geographies primarily in North America, Europe, and Australia, as well as other key markets including Israel and China. Visit Perrigo online at (http://www.perrigo.com).
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.
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SOURCE Perrigo Company plc