The Perrigo Company announced that it has begun commercial shipments of betamethasone valerate foam 0.12%, the generic equivalent of Luxiq® Foam, consistent with the date certain launch settlement previously announced. Cobrek Pharmaceuticals, Inc., which was recently acquired by Perrigo, was first to file, making the product eligible for 180 days of marketing exclusivity. Perrigo is entitled to receive 100% of the profits from net sales of the product due to the Cobrek acquisition.
Betamethasone valerate foam 0.12% is indicated for the relief of corticosteroid-responsive skin conditions of the scalp (scalp psoriasis). Brand annual sales were approximately $40 million as measured by Symphony Health. Perrigo's Chairman, President and CEO Joseph C. Papa stated, "We are very proud to be launching our sixth foam product, a dosage form which requires specialized development and manufacturing capabilities. We continue to be committed to making quality healthcare more affordable for our customers and to drive value for our shareholders."
From its beginnings as a packager of generic home remedies in 1887, Perrigo Company, based in Allegan, Michigan, has grown to become a leading global provider of quality, affordable healthcare products. The Company develops, manufactures and distributes over-the-counter ("OTC") and generic prescription ("Rx") pharmaceuticals, nutritional products and active pharmaceutical ingredients ("API") and is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. Perrigo's mission is to offer uncompromised "quality, affordable healthcare products", and it does so across a wide variety of product categories primarily in the United States, United Kingdom, Mexico, Israel and Australia, as well as certain other markets throughout the world, including Canada, China and Latin America.
Source: Perrigo Co.