ALLEGAN, Mich. and MONMOUTH JUNCTION, N.J., Aug. 27, 2012 /PRNewswire/ -- Perrigo Company (Nasdaq: PRGO;TASE) and Tris Pharma, Inc. today announced the commercial launch of a major new store brand product. The new product is equivalent to Delsym® extended–release oral liquid suspension containing dextromethorphan polistirex and will be marketed under major U.S. retailer and wholesalers' store brands or own label brands.
Delsym®, indicated for the temporary treatment of cough due to minor throat and bronchial irritation, has estimated annual sales of $100 million.
Perrigo's Chairman, President and CEO Joseph C. Papa stated, "We are excited to partner with Tris Pharma and bring this first ever store brand extended release liquid cough/cold product to our retail and store brand customers' portfolios in time for the season. This launch continues to demonstrate our commitment to making quality healthcare more affordable for consumers."
Ketan Mehta, Tris' CEO added, "When we developed our proprietary technology to deliver drugs in taste-neutral, extended release dosage forms such as liquids and ODT/chewable tablets, we were focused on improving the profile of new drugs. However, Delsym® presented a unique opportunity where we were able to leverage our technology to bring a long overdue lower cost alternative to consumers and I am delighted we were able to partner with Perrigo to do so."
From its beginnings as a packager of generic home remedies in 1887, Allegan, Michigan-based Perrigo Company has grown to become a leading global provider of quality, affordable healthcare products. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, dietary supplements and active pharmaceutical ingredients (API). The Company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. The Company's primary markets and locations of logistics operations have evolved over the years to include the United States, Israel, Mexico, the United Kingdom, India, China and Australia. Visit Perrigo on the Internet (http://www.perrigo.com).
Tris Pharma is a specialty pharmaceutical company focused on the research and development of technologies driven products. Tris has pioneered the delivery of sustained release in the liquid, chewable/ODT and strip dosage forms so patients do not have to swallow a pill. Tris' Nobuse technology provides abuse deterrence for opioids and other abuse-prone drugs. Tris' R&D and manufacturing facilities are located in Monmouth Junction, New Jersey, U.S.A. For more information, please visit http://www.trispharma.com.
Note: Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-K for the year ended June 30, 2012, as well as the Company's subsequent filings with the Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Perrigo Company