) dominant position in the store brand over-the counter (OTC)
drug market was further strengthened when it gained final
approval from the U.S. Food and Drug Administration (FDA) to
market its store brand version of
Johnson & Johnson
) Zyrtec allergy syrup (1mg/ml) for treating children aged two
years and above. Perrigo intends to commence shipments of the
offering, which is bubble gum flavored, during the upcoming
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The children's allergic Zyrtec syrup is part of the overall
Zyrtec brand. Perrigo stated in its press release that the
estimated annual sales of the drug are approximately $380
million. We remind investors that in Mar 2013, Perrigo made an
important launch targeting the store brand market. The company
launched its store brand version of an expectorant, Mucinex.
Another important launch at Perrigo targeted at the store brand
market this year, was that of the OTC nicotine polacrilex mini
lozenge, 2 mg (mint flavor) and 4 mg (mint flavor). We note that
the product was approved by the FDA in Oct 2012 for reducing
withdrawal symptoms like nicotine craving, associated with
This is the first marketed mini lozenge product targeting the
store brand market. The mint flavored mini lozenge can be
) Nicorette mini lozenge.
We note that Perrigo has a sustainable and diversified product
portfolio. The company's strong position in the brand OTC
pharmaceutical market and growing generics and active
pharmaceuticals ingredient businesses are expected to drive
growth in the coming quarters. We are also impressed by Perrigo's
Perrigo currently carries a Zacks Rank #3 (Hold). Right now,
Gilead Sciences Inc.
) looks attractive, with a Zacks Rank #1 (Strong Buy).