Brand HalfLytely, made by Braintree Laboratories Inc. has annual US sales of $80 million, according to Wolters Kluwer.
Novel Laboratories will manufacture the product exclusively for Perrigo, which expects to launch the kit containing the tablet and powder when the patents expire on September 25. Since Novel Laboratories was the first company to apply for an Abbreviated New Drug Application (ANDA) with the FDA, Perrigo will have 180 days marketing exclusivity.
Perrigo's share closed at $57.49 on Nasdaq yesterday, and was unchanged in early trading on the TASE today at NIS 219.60.
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