Perrigo licenses Flamel's oral suspension delivery platform to develop additional OTC meds

As part of its so-called Base Plus Plus Plus strategy, specialty pharmaceutical company Perrigo ($PRGO) announced that it is licensing Flamel's LiquiTime extended-release suspension to develop products for the U.S. over-the-counter market.

The drug delivery platform consists of a liquid suspension with small (150 to 500 micrometers) drug-coated microparticles according to Flamel's website. It says that a normal dosage of medication that deploys the technology contains 5,000 to 50,000 of the particles.

The LiquiTime platform is useful for medications targeted at pediatric patients, as well as geriatric ones, for both groups often have difficulty swallowing. According to Flamel's website, the company is developing LiquiTime formulations of the pain reliever ibuprofen (marketed as Advil) and guaifenesin (marketed as Robitussin) to relieve congestion in the chest and throat.

LiquiTime is a modification of Flamel's Micropump platform for extended or modified release of solid oral drugs.

Perrigo CEO Joseph Papa

"This partnership with Flamel on their innovative LiquiTime technology demonstrates our continued focus on the 'Base Plus Plus Plus' strategy. This is yet another excellent example of Perrigo's commitment to providing Quality Affordable Healthcare Products for our customers across the globe," said Perrigo CEO Joseph Papa in a statement.

The Base of Perrigo's strategy consists of its existing consumer health, prescription pharmaceutical and royalties from Biogen ($BIIB), according to investment research firm Market Realist. Meanwhile, the three Pluses consist of taking drugs from prescription to over-the-counter status, M&A and increased royalties from Biogen's oral multiple sceloris and Crohn's disease drug Tysabri.

Perrigo is trying to fight off a $25 billion hostile takeover from Mylan ($MYL). There is speculation that another Big Pharma or consumer product company might make a competing bid on Perrigo.

- read the release

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