The Perrigo Company
Perrigo Announces Final FDA Approval of Dexcel's OTC Omeprazole; Raises Full Year Earnings Guidance
Published in Law and Health Weekly, December 29th, 2007
The Perrigo Company (NASDAQ:PRGO) announced that the U.S. Food & Drug Administration (FDA) has granted final approval to Dexcel Pharma Technologies, Ltd. for 20 mg Omeprazole delayed-release tablets. As the exclusive marketer and distributor of this product for the store brand over-the-counter (OTC) market in the United States, Perrigo expects to begin shipping its product during the first quarter of calendar year 2008, with full year annual sales to be in the range of $150 - $200 million.
Perrigo's Chairman and CEO Joseph C. Papa stated, "The approval from the FDA is the final regulatory step for this exclusive product launch, which we expect to be the largest product...
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