Delsym has $125 million in annual sales in the US.
Perrigo Company (Nasdaq:PRGO; TASE:PRGO) has bought the exclusive sale and distribution rights for a generic version of Reckitt Benckiser's Delsym cough suppressant from Tris Pharma Inc. Perrigo and Tris Pharma will share profits, and Perrigo will pay Tris certain milestone payments.
Perrigo said that branded Delsym has $125 million in annual sales in the US. Tris Pharma was the first company to file an Abbreviated New Drug Application (ANDA) with the US Food and Drug Administration (FDA) for generic Delsym, giving it 180-days exclusivity.
Perrigo's share price fell 0.5% on Nasdaq yesterday to $61.67, giving a market cap of $5.64 billion. The share price fell 0.8% at the opening on the TASE today to NIS 230.
Published by Globes [online], Israel business news - www.globes-online.com - on May 6, 2010
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