Perrigo Announces Commercial Launch Of Betamethasone Foam
ALLEGAN — Perrigo Co. (Nasdaq: PRGO) Tuesday announced that it has begun commercial shipments of betamethasone valerate foam 0.12%, the generic equivalent of Luxiq Foam, consistent with the date certain launch settlement previously announced.
Cobrek Pharmaceuticals Inc., which was recently acquired by Perrigo, was first to file, making the product eligible for 180 days of marketing exclusivity. Perrigo is entitled to receive 100 percent of the profits from net sales of the product due to the Cobrek acquisition.
Betamethasone valerate foam 0.12% is indicated for the relief of corticosteroid-responsive skin conditions of the scalp (scalp psoriasis). Brand annual sales were approximately $40 million as measured by Symphony Health.
“We are very proud to be launching our sixth foam product, a dosage form which requires specialized development and manufacturing capabilities,” said Perrigo president and CEO Joseph C. Papa. “We continue to be committed to making quality healthcare more affordable for our customers and to drive value for our shareholders.”
From its beginnings as a packager of generic home remedies in 1887, Perrigo has grown into a global provider of over-the-counter and generic prescription pharmaceuticals, nutritional products and active pharmaceutical ingredients. It is also the world’s largest manufacturer of OTC pharmaceutical products for the store brand market. Perrigo operates primarily in the United States, United Kingdom, Mexico, Israel and Australia, with activities in some other markets, including Canada, China and Latin America.
More at www.perrigo.com.