) recently received some good news when the US Food and Drug
Administration (FDA) cleared its generic version of Clobex shampoo.
Perrigo intends to launch the drug in the US immediately.
Perrigo's generic version has been approved for treating
patients suffering from moderate to severe scalp psoriasis.
According to data released by Wolters Kluwer Health, total annual
sales of the drug (branded and its generic equivalents) were
approximately $57 million.
We note that Perrigo has received quite a few approvals on the
generic front this year. In June, the company gained FDA approval
for its abbreviated new drug application (ANDA) for its generic
version of Duac Gel. Duac Gel, developed by Stiefel, a
) company, is a clindamycin phosphate and benzoyl peroxide 1.2%/5%
topical gel for the treatment of inflammatory acne (pimples). Also
in June 2012, Perrigo received FDA approval for its generic version
of hyperphosphatemia drug, Phoslo Gelcaps.
The FDA also cleared Perrigo's generic version of KV
Pharmaceutical Company's vaginal cream Gynazole. Moreover, the FDA
gave final approval to Perrigo to market its generic version of
) heartburn drug, Prevacid. Perrigo launched the drug in the US
following the receipt of final approval from the FDA.
We note that the availability of generic equivalents will be
easy on the pockets of patients as generic drugs are much cheaper
than their branded counterparts.
We believe 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 (API) businesses are expected to drive
growth in the coming quarters. We are also impressed by Perrigo's
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