Perrigo Company (Nasdaq:PRGO; TASE:PRGO) has begun shipping over-the-counter (OTC) Ibuprofen and Diphenhydramine Citrate Tablets, 200/38 mg.
The product will be marketed under store brand labels and is comparable to Wyeth Consumer Healthcare's Advil PM tablets, which are used for pain relief and as a nighttime sleep-aid.
Estimated brand sales for the product for the last 12 months ending September 28, 2008 were $70 million.
Perrigo shares were set to open lower on the Tel Aviv Stock Exchange (TASE), dropping 3.3% to NIS 95. Its shares are down 19.8% on the TASE so far in 2008.
Perrigo Company is a leading global healthcare supplier that develops, manufactures and distributes over-the-counter (OTC) and generic prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients (API) and consumer products.
Published by Globes [online], Israel business news - www.globes-online.com - on February 22, 2009
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