For years your TV extolled the virtues of “the purple pill,” often with little more than a passing reference to the drug’s actual name — Nexium 24HR capsules. It was almost as if there was a generic version while the drug was still a protected brand under the Nexium flag. Now…there will be a generic, over-the-counter version thanks to Allegan’s Perrigo Company.
Perrigo has announced today that it has received final approval from the U.S. Food & Drug Administration for the store brand OTC equivalent of Nexium 24HR (esomeprazole magnesium) capsules. The company also announced that it has reached a settlement of patent litigation with AstraZeneca allowing for the store brand OTC equivalent of Nexium 24HR capsules to launch late next month, September 2017. The product will be packaged and marketed as store brand or retailer ‘own label’ brand and will provide consumers with a high-quality, value alternative to Nexium 24HR capsules.
Nexium 24HR capsules are indicated to treat the type of frequent heartburn that occurs 2 or more days a week. Approximate annual retail sales for the last 12 months were in excess of $300 million.
Jeff Needham is Executive Vice President of Consumer Healthcare Americas for Perrigo. He says today, “This final approval and upcoming launch demonstrates the tremendous capabilities of our leading store brand OTC platform. We are eager to finalize launch plans with our retail and wholesale partners to bring this major new product to consumers.” Needham adds, “Important product launches like the store brand equivalent of Nexium 24HR capsules are what drive the Perrigo advantage by providing our customers, consumers and families with high quality, value alternatives in important treatment categories.”
With major facilities, including the former world headquarters operations in Allegan, Perrigo Company is a leading global healthcare company that delivers value to its customers and consumers by providing quality affordable healthcare products.
The company was founded in Allegan back in 1887 as a packager of home remedies. Perrigo has built a unique business model that is best described as the convergence of a fast-moving consumer goods company, a high-quality pharmaceutical manufacturing organization and a world-class supply chain network. Perrigo is the world’s largest manufacturer of over-the-counter healthcare products and supplier of infant formulas for the store brand market. The Company also is a leading provider of branded OTC products throughout Europe and the U.S., as well as a leading producer of “extended topical” prescription drugs. Perrigo, headquartered in Ireland, sells its products primarily in North America and Europe, as well as in other markets, including Australia, Israel and China. Visit Perrigo online at (http://www.perrigo.com).
