ALLEGAN, Mich., June 6 /PRNewswire-FirstCall/ -- The Perrigo Company
(Nasdaq: PRGO; TASE) announced today that a federal court has ruled in its
favor in patent litigation involving Famotidine Complete. Perrigo had been
sued by Johnson & Johnson's McNeil unit and its partner Merck & Company for
infringement of a patent related to the formulation of Pepcid(R) Complete.
However, the United States District Court for the Southern District of New
York ruled yesterday that the patent is invalid. Following FDA approval,
Perrigo will begin marketing Famotidine Complete under store brand and
value brand labels to its customers.
Perrigo's President and CEO Joseph C. Papa stated, "This is another
example of Perrigo's commitment to continue bringing new store brand
products to the market. Famotidine Complete's introduction to the store
brand market provides an important new product in the gastrointestinal
category to our retail and wholesale customers while providing significant
savings for the consumer. Perrigo is working every day to make quality
healthcare more affordable."
Pepcid(R) Complete has annual retail sales of approximately $90 million
dollars. This OTC product is indicated for relief from acid indigestion.
Upon receiving final regulatory approval, Perrigo expects to launch this
product in fiscal year 2008. The Company expects this launch to have 180
day first-to-file exclusivity, granted by the FDA to first filers that
prevail in patent litigation of this nature.
The Perrigo Company is a leading global healthcare supplier and the
world's largest manufacturer of over-the-counter (OTC) pharmaceutical and
nutritional products for the store brand market. Store brand products are
sold by food, drug, mass merchandise, dollar store and club store retailers
under their own labels. The Company also develops, manufactures and markets
prescription generic drugs, active pharmaceutical ingredients and consumer
products, and operates manufacturing facilities in the United States,
Israel, the United Kingdom, Mexico, Germany and China. 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 July 1, 2006, 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 Company
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