Perrigo gains generic cough-suppressant rights
This article was originally published in The Tan Sheet
Executive Summary
Perrigo acquires exclusive U.S. private label rights to a generic version of Reckitt Benckiser's Delsym cough suppressant through a partnership with the specialty pharmaceutical company Tris Pharma. The partnership is a profit-share deal, with Perrigo making milestone payments to Tris, Perrigo said May 5. Tris said it is the first to file an abbreviated new drug application for dextromethorphan polistirex extended-release suspension, which would entitle it to 180 days of generic exclusivity upon approval. Tris and Reckitt currently are litigating the filing. Delsym, indicated for 12-hour cough relief, generates estimated annual sales of $125 million, according to data from SymphonyIRI Group. In a May 5 note, investment firm Collins Stewart says the deal "adds more visibility to future earnings growth" for Perrigo beginning in 2012. "We would expect [Perrigo] to continue to add product opportunities like Delsym to its pipeline," Collins Stewart says
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