Perrigo confirms FDA approval of testosterone gel 1% Perrigo Company (PRGO) announced that it has received U.S. Food and Drug Administration approval for its New Drug Application for testosterone gel 1%. Perrigo's NDA included a bioequivalence study that compared its product to AbbVie's AndroGel 1%. AndroGel 1% (testosterone gel 1%) is indicated to treat adult males who have low or no testosterone. Annual sales were approximately $705M annually, as measured by Symphony Health. Perrigo's Chairman and CEO Joseph C. Papa stated, "This filing is another example of our investment in new products and continued focus on bringing extended topicals to market. As always, Perrigo is committed to making quality healthcare more affordable for our customers and consumers."
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.