Perrigo’s ProAir Rival ‘Unlikely To Be Back In 2021’ Following Recall
Q3 2020 Recall Led To $200m Impairment Charge
Perrigo has moved to allay more serious concerns around its generic ProAir inhaler device, but concedes that it is highly unlikely the lucrative respiratory product will return to the market this year.
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Indian major Lupin is continuing to further efforts on its three main growth drivers: biosimilars, inhalation products and long-acting injectables, management told the virtual J.P. Morgan Healthcare Conference in San Francisco.
Having gained from Perrigo’s US withdrawal of generic ProAir (albuterol sulphate), Lupin plans to ramp up capacity by its financial fourth quarter as demand is seen rising on account of flu and COVID-19 cases in the US. Meanwhile, FDA observations at its Somerset facility provide a dampener.
Perrigo remains unable to say exactly when it will be able to relaunch its generic to Teva’s ProAir, a position that has left the company with no choice but to impair significantly the value of the asset in the firm’s financial third quarter.