DUBLIN, Sept. 27, 2016 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE) today announced an exclusive licensing agreement with Highland Pharmaceuticals, LLC for its Tarex® methamphetamine ("meth") blocking technology and the distribution rights of Zephrex-D® (pseudoephedrine HCI 30 mg). Zephrex-D® was developed using the Tarex® technology and has been proven to be more than 98% effective at blocking one of the more common domestic methods of illegal meth production.
This agreement is part of Perrigo's ongoing efforts in the fight against meth drug abuse. Perrigo plans to integrate the Tarex® technology into certain of its store brand and retailer own label pseudoephedrine HCI products in the future and will immediately begin distribution of Zephrex D® to its retail customers.
Perrigo's Executive Vice President & President, Consumer Healthcare - Americas, Jeff Needham commented that, "Across the country, illegal methamphetamine use continues to be a significant issue. Our investment in Tarex® technology is another example of Perrigo's commitment to help protect and promote healthier communities. We are committed to leveraging the Tarex® technology to extend our line of meth-resistant pseudoephedrine products in the future."
Perrigo Company plc, a top five global over-the-counter ("OTC") consumer goods and pharmaceutical company, offers patients 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 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 markets, including Israel, China and Latin America. 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 the negative of those terms 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, future impairment charges, the ability to achieve its guidance 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.
SOURCE Perrigo Company plc