Jan 4, 2016
DUBLIN, Jan. 4, 2016 /PRNewswire/ -- Allergan plc (NYSE: AGN) and its partner Perrigo Company plc (NYSE: PRGO; TASE) announced the launch of combination guaifenesin 600mg and pseudoephedrine HCl 60mg extended-release tablets to retail and wholesale customers. First shipments of this new store branded product started in December and represents a first-to-market accomplishment for Allergan and Perrigo.
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® D extended-release product.
Mucinex® D 600mg Extended-Release tablets (guaifenesin 600mg and pseudoephedrine HCl 60mg extended-release tablets), an expectorant and nasal decongestant indicated to relieve chest congestion in combination with sinus congestion and pressure, had sales of approximately $46 million through food, drug and mass merchants during the last 12 months.
"This first-to-market launch illustrates the power of combining Allergan's world-class generics R&D capabilities with Perrigo's leadership in OTC and store brand products," said Robert Stewart, Allergan's Executive Vice President & President, Generics and Global Operations. "By leveraging our combined expertise, we are making a high-quality, more affordable store brand alternative to the Mucinex® D extended-release product available for the first time to patients in the U.S., and delivering on our shared commitment to providing patients around the globe with increased access to affordable, high-quality medicines."
Perrigo's Chairman, President and CEO Joseph C. Papa stated, "This launch is a significant milestone in the partnership between Perrigo and Allergan, and we are pleased to be the first company to bring this complex product to the market. This is another excellent example of Perrigo's commitment to making quality healthcare more affordable for consumers around the globe. Additionally, we are excited to launch the balance of the range of five additional Mucinex®-comparable products to the U.S. store brand market over the course of the first half of calendar year 2016. A full range of Mucinex® comparable products for the store brand market has been eagerly anticipated by retailers and consumers to provide them high-quality, value alternatives to the national brand."
Separately, Perrigo announced the temporary suspension of sales of its Guaifenesin 600mg extended- release product pending the resolution of challenges related to an excipient used in the production of the product. This suspension is expected to have a minimal impact to Perrigo's fourth quarter 2015 adjusted earnings per share.
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 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 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 risks associated with acquisition transactions; 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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 (such periodic public filings having been filed under the "Actavis plc" name) and from time to time in Allergan's other investor communications. Except as expressly required by law, Allergan disclaims any intent or obligation to update these forward-looking statements.
Perrigo Forward Looking Statement
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and 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, including but not limited to, the successful integration of the Omega Pharma Invest NV business and future actions that may be taken by Mylan N.V. in furtherance of its unsolicited proposal to acquire control of the Company. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended June 28, 2015, 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 plc
For further information: ALLERGAN CONTACTS: Investors: Lisa DeFranceso, (862) 261-7152; Media: Mark Marmur, (862) 261-7558; PERRIGO CONTACTS: Arthur J. Shannon, Vice President, Investor Relations and Global Communications, (269) 686-1709, E-mail: firstname.lastname@example.org; Bradley Joseph, Director, Investor Relations and Global Communications, (269) 686-3373, E-mail: email@example.com