The company has obtained approval for generic versions of allergy treatment Xyzal and heartburn relief Zantac.
Perrigo Company (Nasdaq:PRGO; TASE:PRGO) and its partner Synthon Pharmaceuticals Inc. have received tentative US Food and Drug Administration (FDA) approval for their generic version UCB's allergy treatment Xyzal.
According to Wolters, Kluwer, brand Xyzal oral solution has $15 million in annual US sales and is growing by 15% a year.
Yesterday's announcement came two days after Perrigo obtained final FDA approval for Ranitidine 150, its over-the-counter generic version of Zantac 150 for the relief of heartburn. Information Resources Inc., brand Zantac has $110 million in annual sales in the US. Perrigo plans to launch Ranitidine 150 early in its 2012 fiscal year.
Perrigo's share price rose 1.2% on Nasdaq yesterday to $86.11, giving a market cap of $7.98 billion, and rose 0.9% in early trading on the TASE today to NIS 303.50.
Published by Globes [online], Israel business news - www.globes-online.com - on May 19, 2011
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