Perrigo’s Record OTC Sales Tempered By Rising Costs Of Doing Business
This article was originally published in The Tan Sheet
Record OTC drug sales helped boost Perrigo's revenue 29 percent in its latest earnings period, but the rising costs of doing business dragged down margins and forced the company to lower its fiscal 2009 earnings guidance
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Dr. Reddy's Laboratories will enter the proton pump inhibitor market as early as July, the Hyderabad, India-based firm announces June 9. It says FDA approved its abbreviated new drug application for omeprazole 20.6 mg after AstraZeneca filed a claim challenging Dr. Reddy's product (1"The Tan Sheet" March 23, 2009, p. 7). The first shipment will go out in the second quarter of 2010. The heartburn relief product will go head to head with Perrigo's omeprazole, which has 40 percent of the OTC PPI market (2"The Tan Sheet" Feb. 9, 2009, p. 12)