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Perrigo Reports Record Second Quarter Sales
Date:2/3/2009

On December 29, the Company announced that it received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for OTC Ibuprofen and Diphenhydramine Citrate Tablets, 200/38 mg. The Company expects to begin shipping the product to retailers during the first quarter of calendar year 2009. The product will be marketed under store brand labels and is comparable to Wyeth Consumer Healthcare's Advil(R) PM tablets, 200/38 mg, indicated as a pain reliever (NSAID)/nighttime sleep-aid. Estimated brand sales for the product for the last 12 months ending December 21, 2008 were $71 million.

Rx Pharmaceuticals

The Rx Pharmaceutical segment second quarter net sales were $40.4 million compared with $38.7 million a year ago. This increase resulted primarily from new product sales of approximately $5.7 million and a slight increase in sales volumes on the Company's existing portfolio of products. These increases were partially offset by a $1.8 million reduction in non-product revenue, along with continued pricing pressure due to changes in customer mix and increased competition in the marketplace for generic drugs. Operating income was $7.2 million, compared with $8.4 million last year.

For the first six months of fiscal year 2009, net sales for the Rx Pharmaceutical segment were relatively flat compared to fiscal 2008. Sales increased due to new product sales of approximately $10.0 million, along with an increase in sales volumes on the Company's existing portfolio of products. These increases were offset by a $6.0 million reduction in non-product revenue, along with unfavorable changes in customer mix and increased competition in the marketplace for generic drugs.

On November 19, the Company acknowledged the settlement of patent litigation brought by Sanofi-Aventis against Barr Laboratories, Inc. (Barr), a subsidiary of Barr Pharmaceuticals, In
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SOURCE Perrigo Company
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