Perrigo Returns To 'Model' For Success, Expects Surprises From 2020 Launches
Perrigo "walked away a little bit" from "a model that worked beautifully," says CEO Murray Kessler at investor conference, "In essence, all we've done over the last year is to put back in place the model that worked so well."
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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.
"A foundation of this business has been," says Perrigo's Americas consumer business chief, Jeffrey Needham, "we are a fast follower. That's been our traditional model. We can't afford to do that going forward." In addition to initiating moving ingredients from Rx to OTC, firm is developing "national better brand" versions of drugs already available OTC.