ALLEGAN, Mich., March 2 /PRNewswire/ -- The Perrigo Company (Nasdaq: PRGO)
today announced that it has received approval from the Food and Drug
Administration (FDA) to manufacture and market acetaminophen extended release
tablets, 650 mg, effective immediately. The Company anticipates initial
shipments in its fourth quarter ending July 1, 2000.
The FDA concluded that acetaminophen extended release tablets produced by
Perrigo are safe and effective and bioequivalent to Tylenol(R) Arthritis
Extended Relief Caplets marketed by McNeil Consumer Products Company. The
approval was granted through the Abbreviated New Drug Application (ANDA)
process regulated by the FDA.
Mark Olesnavage, Perrigo's President of Customer Business Development,
stated, "We are very pleased to receive the FDA's approval for acetaminophen
extended release, an important addition to a growing segment of the analgesic
category. Although this product is one of many over-the-counter
pharmaceuticals Perrigo markets, it is significant because it is the first
store brand product comparable to the active ingredient in Tylenol(R)
Arthritis."
Mr. Olesnavage also stated, "Perrigo is committed to offering its retail
customers the broadest line of over-the-counter pharmaceutical and nutritional
products for their store brand programs. This approval is consistent with our
strategy to focus resources on the development of new products including those
drugs requiring ANDA process regulatory review."
Perrigo Company is the nation's largest manufacturer of over-the-counter
(non-prescription) pharmaceutical and nutritional products for the store brand
market. Store brand products are sold by national and regional supermarket,
drugstore and mass merchandise chains under their own labels and compete with
nationally advertised brands. The Company's products include over-the-counter
pharmaceuticals, such as analgesics, cough and cold remedies, antacids,
laxatives, feminine hygiene and smoking cessation products, and nutritional
products, such as vitamins, nutritional supplements and nutritional drinks.
Visit Perrigo on the Internet at http://www.perrigo.com .
Note: Certain statements in this press release are forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended and are subject to the safe harbor created thereby. Please
refer to pages 25-29 of the Company's Form 10-K for the year ended July 3,
1999 for a discussion of certain important factors that relate to forward-
looking statements contained in this press release. Although the Company
believes that the expectations reflected in any such forward-looking
statements are reasonable, it can give no assurance that such expectations
will prove to be correct.
SOURCE Perrigo Company
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Related links:
http://www.perrigo.com
Company News On-Call:
http://www.prnewswire.com/comp/699550.html or fax,
800-758-5804, ext. 699550
CONTACT:
Ernest J. Schenk, Manager, Investor Relations
and Communication of Perrigo Company, 616-673-9212, or
Investor@perrigo.com
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