Perrigo Expands OTC Growth Strategy with Licensing for Nasonex

Perrigo has entered into a licensing agreement with a subsidiary of Merck for the exclusive rights in the United States to pursue regulatory approval for a non-prescription, over-the-counter (OTC) Nasonex (mometasone furoate monohydrate) Nasal Spray.

Under the terms of the agreement, Perrigo holds exclusive rights to market, sell, and distribute a non-prescription version of Nasonex OTC in the United States following Perrigo's receipt of all necessary regulatory approvals. Financial terms of the licensing agreement were not disclosed.

Nasonex is currently available by prescription only. Annual prescription brand and generic market sales for the 12 months ending June 2018 were approximately $214 million as measured by IQVIA.

Perrigo President and CEO Uwe Roehrhoff commented, "We are excited to enter into this agreement with Merck & Co, Inc., Kenilworth, NJ, USA. This announcement exemplifies inorganic opportunities to expand the OTC self-care market while enhancing long-term growth in our U.S. consumer business. Leveraging our innovative product development capabilities and efficient supply chain enables us to enhance our durable OTC portfolio by establishing a framework to actively participate in future switch opportunities. Perrigo is well positioned to provide quality affordable healthcare solutions to patients and families."

Perrigo Executive Vice President and President, Consumer Healthcare Americas Jeff Needham stated, "This product in-license is the first of its kind for Perrigo. As other similar products that have previously switched from prescription to OTC status, we are working diligently to bring this important product to consumers and customers more quickly than the average 5-year OTC switch timeframe. This strategic investment into the OTC category creates an innovative product offering for Perrigo. We expect to execute the Rx-OTC-switch, fully penetrate this market with a branded offering and provide a future store brand alternative."

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