Another Change At Perrigo Helm As Results Remain Turbulent
Incoming CEO Murray Kessler is a seasoned veteran of regulated consumer markets – but not health care. Will his combination of experience and fresh perspective help enable the OTC private label market leader to reverse share declines?
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Perrigo is launching generic of J&J’s OTC Imodium Multi-Symptom Relief product for diarrhea and gas. An analyst estimates the product could generate $15m in annualized sales.
Submitting an OTC switch of Nasonex would be a first for Perrigo, as would marketing a national brand OTC if the switch is approved. In tandem with announcing divesture of Perrigo's Rx business, CEO Uwe Rohrhoff says marketing national brands in some OTC categories fits in the company's "value-creation road map."
Target date moved from August 2018 to February 2019 for publishing an NPRM for allowing currently Rx drug ingredients to be available nonprescription under conditions of safe use. US HHS annual spring update on regulatory priorities for FDA and its other agencies also pushes back target dates for other OTC drug NPRMs, including FDA's long-delayed finalization of several monographs including sunscreen ingredients.