Perrigo Announces FDA Approval And Launch Of The Store Brand Equivalent To Flonase®

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May 31, 2016, 02:01 ET

DUBLIN, May 31, 2016 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE) and its partner West-Ward Pharmaceuticals Corp. today announced the U.S. Food and Drug Administration has approved, and that Perrigo has launched, fluticasone propionate nasal spray USP, 50 mcg per spray, the store brand equivalent to Flonase^®. This product is packaged and marketed as store brand or retailer 'own label' brands and provides consumers with a high-quality, value alternative to Flonase^®.

Flonase^® (fluticasone propionate nasal spray USP, 50 mcg per spray) is indicated for the temporary relief of hay fever or other upper respiratory allergies in adult and pediatric patients 4 years of age and older. Combined store brand and national brand sales for the twelve months ending May 2016 were $343 million.

Perrigo's CEO John T. Hendrickson stated, "This product approval and launch demonstrates the power of Perrigo's OTC platform. Our team has made significant efforts to bring this important product to our customers and consumers in the U.S. Important product launches like the store brand switch of fluticasone are what drive the Perrigo advantage by providing our consumers with high quality, value alternatives in important treatment categories."

About Perrigo

Perrigo Company plc, a top five global over-the-counter ("OTC") consumer goods and pharmaceutical company, offers patients and customers high quality products at affordable prices. From its beginnings in 1887 as a packager of generic home remedies, Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of OTC products and supplier of infant formulas for the store brand market. The Company is also a leading provider of generic extended topical prescription products and receives royalties from Multiple Sclerosis drug Tysabri®. Perrigo provides Quality Affordable Healthcare Products® across a wide variety of product categories and geographies primarily in North America, Europe, and Australia, as well as other markets, including Israel, China and Latin America. Visit Perrigo online at (http://www.perrigo.com).

Forward-Looking Statements

Certain statements in this press release are "forward-looking statements." 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 the negative of those terms 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, including the timing, amount and cost of share repurchases, future impairment charges, our ability to achieve our guidance and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, and form 10-Q for the quarter ended April 2, 2016 as well as the Company's subsequent filings with the SEC, 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.

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SOURCE Perrigo Company plc