ALLEGAN, Mich., March 20 /PRNewswire-FirstCall/ -- Perrigo Company
(Nasdaq: PRGO; TASE) today announced that the United States District Court
for the District of New Jersey has denied Connetics Corporation's motion
for a preliminary injunction related to Perrigo's Clobetasol Propionate
Foam, the AB-rated generic equivalent to Connetics' Olux(R) Foam and has
lifted the temporary restraints that have prevented Perrigo from launching
the product. The Court also denied Perrigo's motion for Summary Judgment
based on non- infringement. The case will now proceed to trial with the
trial date not having been set.
With the temporary restraints lifted, Perrigo has commenced launching
the product. As the first filer, this commences its 180 days of generic
exclusivity.
Perrigo's Chairman and CEO Joseph C. Papa stated, "We are excited about
the launch of Clobetasol Foam, which reflects our on-going efforts to make
quality healthcare more affordable for our customers."
Clobetasol Propionate Foam is a topical corticosteroid indicated for
the treatment of moderate to severe dermatosis of the scalp. Sales for the
brand, Olux(R) Foam, 0.05%, were approximately $85 million according to
Wolters Kluwer data for the 12 months ending January 2008.
Perrigo Company is a leading global healthcare supplier that develops,
manufactures and distributes over-the-counter (OTC) and prescription
pharmaceuticals, nutritional products, active pharmaceutical ingredients
(API) and consumer products. The Company is the world's largest
manufacturer of OTC pharmaceutical products for the store brand market. The
Company's primary markets and locations of manufacturing facilities are the
United States, Israel, Mexico and the United Kingdom. Visit Perrigo on the
Internet (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.
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, many of which are beyond
the Company's control. These and other important factors, including those
discussed under "Risk Factors" in the Company's Form 10-K for the year
ended June 30, 2007, 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
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Related links:
http://www.perrigo.com
CONTACT:
Arthur J. Shannon, Vice President, Investor
Relations and Communication, +1-269-686-1709,
ajshannon@perrigo.com, or Ernest J. Schenk, Manager, Investor
Relations and Communication, +1-269-673-9212,
eschenk@perrigo.com, both of Perrigo
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