Perrigo Sees ProAir Advantage After Late February Launch
Launch With Catalent Was 15 Years In The Making
The culmination of 15 years of work saw Perrigo introduce the first generic version of Teva’s ProAir in late February. Preliminary results released by the company for its financial first quarter reveal the launch has provided Perrigo with the expected boost in sales.
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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.
Perrigo has been looking to separate its Prescription US generics business for almost two years but has ruled out an immediate or rushed transaction in existing market conditions. Meanwhile, management took the time to assess the financial rewards and ramifications of Perrigo’s recently-launched generic ProAir product, with demand “substantially higher than anticipated” in the wake of COVID-19.
Perrigo has received US FDA approval for a generic version of Teva’s ProAir albuterol inhaler. The firm is immediately launching a “limited quantity” but is also ramping up production with partner Catalent to meet future demand.