The market for nicotine gum and lozenge products is estimated at approximately $750 million.
Over-the-counter (OTC) pharmaceuticals company Perrigo Co. (Agis Industries) (Nasdaq:PRGO; TASE:PRGO) has received US Food and Drug Administration (FDA) approval to begin marketing a generic version of Nicotine Polacrilex Gum for smoking cessation. The company said the overall market for OTC nicotine gum and lozenge products is estimated at $750 million. Perrigo's product is a generic version of the GlaxoSmithKline plc (NYSE: GSK; LSE: GSK.L) branded product, Nicorette.
Perrigo's share was up almost 4% in morning trading on the Tel Aviv Stock Exchange (TASE).
Published by Globes [online], Israel business news - www.globes-online.com - on April 27, 2008
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