Perrigo announces FDA approval of generic version of Astepro nasal spray Perrigo (PRGO) announced that it has received final approval from the FDA on its Abbreviated New Drug Application for azelastine hydrochloride nasal spray. The ANDA involved contributions from both Perrigo and Impax Laboratories (IPXL), who will share certain costs and benefits of this product. Perrigo and Impax continue to be in first to file Hatch Waxman patent litigation with Meda Pharmaceuticals in the United States District Court for the District of New Jersey. Perrigo has commenced shipment of product to its customers. Annual sales were approximately $97M annually, as measured by Symphony Health Solutions.
Perrigo would be good acquisition for Teva, says RBC Capital RBC Capital views Perrigo (PRGO) as an attractive acquisition target and says in a note to investors that it thinks a takeover could be a good strategic fit with solid accretion for Teva (TEVA). Teva has interest in over-the-counter products and its growth rate would be boosted by the merger, RBC believes. The firm assumes a $200 per share value for Perrigo in its acquisition assumptions. Shares of the over-the-counter and generic pharmaceuticals company closed yesterday at $153.77.