Perrigo Prioritizes Innovating First After Following OTC Brands To Market
Perrigo’s "national brand better" approach includes adding "better" value to generic equivalents that branded aren't offering, says President and CEO Murray Kessler. Prevacid 24 HR acquisition puts Perrigo at top of 15-mg lansoprazole PPI brand sales as well as in the generics market.
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“Formal partnership” connects Michigan State's clinical and research expertise with Perrigo's product innovation, manufacturing scale and retail distribution network, Despite breadth and depth of Perrigo’s product lineup, it expects another $1b annually could come from segments where it has no or little market share.
Examples of unfinished business from 2019 include no legislation passed to reform OTC monograph program; FDA putting off until May the planned publication of an NPRM to allow firms to submit OTC NDAs with extra-label information to help guide consumers' self-selection; and no OTC naloxone for opioid overdose approved even after FDA's unprecedented step of developing model DFLs sponsors could use for their own label comprehension studies.
Already providing generic equivalents, Perrigo buys national brand from GSK as it acts on commitment to move into brand product sales. Plans to expand OTC Prevacid line, likely with an orally disintegrating tablet, and to grow entire US OTC gastrointestinal category.