Perrigo reports growth in Q3

ALLEGAN, Mich. Perrigo on Thursday reported revenues of $505.9 million on 5% growth for its third quarter ended March 28, including $419.1 million across its consumer healthcare division, representing a 12% increase.

“In this quarter, the over-the-counter category [as a whole] fell 3% versus third quarter last year and the national brand category fell more than 7%, while Perrigo Consumer Healthcare grew 12%,” commented Joe Papa, Perrigo chairman and CEO. “We were able to achieve this growth rate despite the fact that we are comparing the results to the launches of omeprazole [Prilosec OTC] and cetirizine [Zyrtec] at this time last year. More consumers than ever are realizing the value that store brands have to offer.”

On Feb. 20, Perrigo announced that it began shipping its combination sleep aid-analgesic ibuprofen and diphenhydramine citrate tablets, 200/38-mg. The product is comparable with Wyeth Consumer Healthcare's Advil PM tablets, 200/38-mg, which generated approximately $71 million in brand sales for the 12 months ended Dec. 21, Perrigo reported.