Perrigo’s Mucinex Equivalent On The Cusp, But New Product Outlook Dims
This article was originally published in The Tan Sheet
The private labeler’s long-delayed guaifenesin launch now tentatively is set for March, CEO Joseph Papa says. But unclear timelines for other OTC launches caused Perrigo to lower its fiscal year consolidated new product sales outlook to $150 million from an initial projection of more than $190 million.
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The private labeler’s more than 60 planned product launches include Codex-compliant infant formulas. The firm also sees marketing formula in plastic containers as a U.S. sales driver.
Perrigo’s consumer business’ 2012 full-year operating income, after GAAP adjustments, increased only 0.8% to $304.96 million, despite the division’s 8% revenue growth to $131 million for the fiscal year. The firm plans to launch more than 60 new products in fiscal 2013.
The Indian private labeler predicts annualized U.S. OTC sales of $200 million by March 2013. Dr. Reddy’s recently launched an equivalent of Allegra-D 24 Hour and plans to introduce generic Prevacid 24HR in its next fiscal year.