PERRIGO TO MARKET MICONAZOLE CREAM VIA A JOINT PRODUCT AGREEMENT WITH COPLEY PHARMACEUTICAL, INC.
PERRIGO TO MARKET MICONAZOLE CREAM VIA A JOINT PRODUCT AGREEMENT WITH COPLEY PHARMACEUTICAL, INC. ALLEGAN, Mich., Nov. 4 /PRNewswire/ -- The Perrigo Company (NASDAQ-NMS: PRGO) announced today that it will begin marketing Miconazole Nitrate 2 Percent Cream through an exclusive joint product development and marketing agreement with Copley Pharmaceutical, Inc. Today, Copley announced that it has received approval from the Food and Drug Administration (FDA) to manufacture Miconazole Cream. Miconazole Cream is an over-the-counter drug indicated for the treatment of vaginal yeast infections (Candidiasis). The terms of the agreement with Copley provide Perrigo with the exclusive right to market Miconazole Cream to the store brand market. Miconazole Cream is comparable to the nationally advertised brand Monistat(R) 7, the No. 1-selling product for the treatment of vaginal yeast infections. Mark Olesnavage, Perrigo vice president- Pharmaceutical Business Development, commented, "We're very excited about being the first store brand marketer of a vaginal yeast product. This new over-the-counter product category was first switched from prescription to over-the-counter status in 1990 and has been a fast- growing category, with total sales now exceeding $200 million." Perrigo believes that Copley is one of the first companies to receive approval for this product through the FDA's Abbreviated New Drug Application (ANDA) process. Perrigo expects to begin national distribution of Miconazole Cream to retailers and wholesalers in the next few months. Perrigo remains committed to developing new store brand products and its strategy of being among the first companies to manufacture and market certain store brand products, especially in the important health care segment of prescription products switching to over-the-counter status. Perrigo Company is the nation's largest manufacturer of over-the- counter (non-prescription) pharmaceuticals and personal care products for the store brand market. Store brand products are sold under a retailer's own label and compete with nationally advertised brand name products. The company's customers are major national and regional retail drugstore, supermarket and mass merchandise chains and major wholesalers. The company's products include over-the-counter pharmaceuticals (such as analgesics, cough and cold remedies, antacids, laxatives, suppositories and diet products), personal care products (such as toothpaste and mouthwash, hair care products, deodorants and antiperspirants, baby care products, and skin care and sun care products) and vitamins. -0- 11/4/92 /CONTACT: Thomas J. Ross, director of Investor Relations, Perrigo Company, 616-673-9125/ (PRGO) CO: Perrigo Company; Copley Pharmaceuticals, Inc. ST: Michigan, Massachusetts IN: MTC SU: JVN PDT
JG -- DE020 -- 2606 11/04/92 15:08 EST
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|Date:||Nov 4, 1992|
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