DUBLIN, Ireland — Perrigo Co. plc has reinitiated shipments of guaifenesin 600-mg extended-release tablets to its U.S. retail and wholesale customers.
Perrigo said Thursday that the product, packaged and marketed under store brands and proprietary brands, will be a high-quality, value alternative to Reckitt Benckiser’s Mucinex 600-mg extended-release tablets.
An expectorant, guaifenesin 600-mg extended-release tablets are indicated to relieve chest congestion and make coughs more productive. The medication had sales of about $135 million through food, drug and mass merchandisers for the last 12 months, according to Perrigo.
"This relaunch is representative of the Perrigo team’s abilities to overcome challenging circumstances presented by this product’s complex formulation," stated Perrigo chairman and chief executive officer Joseph Papa. "The team worked diligently to validate and achieve consistency in producing commercial production quantities required to bring this product back to market."
Also on Thursday, Perrigo said it has entered into an agreement to acquire Belgium-based Omega Pharma NV, one of Europe’s largest over-the-counter health care companies, for €3.6 billion ($4.5 billion). Omega has a range of leading cough/cold, skin care, pain relief, weight management and gastrointestinal treatment brands among its portfolio of about 2,000 products, Perrigo noted.
"The combination of these two great companies accelerates Perrigo’s international growth strategy, substantially diversifies our business streams and establishes a durable leadership position in the European OTC marketplace," Papa commented. "We believe this strategic transaction will enhance shareholder value by further strengthening our industry-leading revenue and cash flow growth profile and by expanding market opportunities. Omega brings a leading OTC product portfolio, European capabilities and a highly experienced management team to support Perrigo’s continued growth."
