This new product for the U.S. Private Brand market is bioequivalent to Novartis’ Prevacid 24HR capsules (15 mg) and is indicated for the treatment of frequent heartburn, which occurs two or more days in a week. Sales for Prevacid OTC were approximately $220 million.
Perrigo’s Chairman, President and CEO Joseph C. Papa stated, “This is another example of Perrigo’s continued leadership and commitment to bring key new products to the store brand OTC market. Perrigo continues to be focused on our mission of making quality healthcare more affordable for consumers. We are pleased to be in a position to bring this important new product to market for our retail and wholesale customers’ store brand product portfolios and to U.S. consumers, who will realize considerable savings now that they can purchase a high quality, value priced alternative to the national brand.”