) recently commenced shipping its generic version of Adams
Respiratory Therapeutics' drug Mucinex (600mg extended-release
tablets). Adams Respiratory Therapeutics is a subsidiary of
Reckitt Benckiser Group.
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Mucinex, an expectorant, is indicated to give relief from chest
congestion. The drug is also used to ensure that coughs are more
productive. The branded drug registered sales of approximately
$135 million through food, drug and mass merchandisers in the
last 12 months.
We remind investors that in Jan 2012, Perrigo won a favorable
judgment from a US court, regarding a patent dispute related to
its generic version of Mucinex. The court ruled that Perrigo's
generic version of Mucinex did not infringe the challenged
The launch of the store brand version of Mucinex further
strengthens its dominant position in the store brand over the
counter drug market. Perrigo boasts partnerships with retailers,
pharmacies and mass merchandisers for which it manages a wide
range of activities including regulatory approvals, customized
branding and packaging, and in-store advertising.
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 US Food and Drug Administration
(FDA) in Oct 2012 for reducing withdrawal symptoms like nicotine
craving, associated with quitting smoking.
This is the first marketed mini lozenge product targeting the
store brand market. The mint flavored mini lozenge can be
) Nicorette mini lozenge.
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 businesses are expected to drive
growth in the coming quarters. We are also impressed by Perrigo's
Perrigo carries a Zacks Rank #2 (Buy) for the short run.
Meanwhile, pharma stocks such as
WuXi PharmaTech (Cayman) Inc.
) carry a Zacks Rank #1 (Strong Buy).