Perrigo Announces Launch of Generic Version of Elestat
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ALLEGAN — Perrigo Co. (Nasdaq: PRGO) Tuesday announced that its partner, PharmaForce-Luitpold Pharmaceuticals, received final approval for Epinastine HCl ophthalmic solution, 0.05 percent, a generic version of Elestat. Perrigo will commence shipment of the product immediately.
Elestat is a sterile ophthalmic solution containing epinastine that is indicated for the prevention of ocular itching associated with allergic conjunctivitis. Estimated annual brand sales for the product prior to generic market formation were $30 million, according to Wolters Kluwer data.
Perrigo’s chairman and CEO Joseph C. Papa stated, “Perrigo is excited to launch another new product in the ophthalmic category, as part of our extended topical strategy. This product is another example of Perrigo’s commitment to expand our portfolio and bring new products to market. It further demonstrates our strategy to deliver quality affordable healthcare products.”
Perrigo develops, manufactures and distributes over-the-counter and generic prescription pharmaceuticals, infant formulas, nutritional products, and active pharmaceutical ingredients. The company is the world’s largest manufacturer of OTC pharmaceutical products and infant formulas, both for the store brand market. The company’s primary markets and locations of manufacturing and logistics operations are the United States, Israel, Mexico, the United Kingdom and Australia.
More at www.perrigo.com.