Healthcare Industry News: S.A.
News Release - June 21, 2016
Perrigo Announces FDA Clearance And Launch Of Non-GMO* Infant Formulas For The U.S. Store Brand Market
DUBLIN, June 21, 2016 -- (Healthcare Sales & Marketing Network) -- Perrigo Company plc (NYSE: PRGO; TASE), today announced it has received final U.S. Food and Drug Administration ("FDA") clearance for three milk-based, store brand non-GMO infant formulas. Shipments to retail customers have already commenced.Perrigo introduced non-GMO formulas for consumers who prefer non-GMO versions of existing products. The non-GMO infant formulaS.A.e produced using ingredients that have not been genetically engineered and are nutritionally comparable to nationally advertised brands. As indicated on the product labels, parents can compare Store Brand:
- Infant Non-GMO to the nutrition of Enfamil® Infant Non-GMO. †
- Advantage® Non-GMO to the nutrition of Similac® Advance® Non-GMO. †
- Sensitivity® Non-GMO to the nutrition of Similac Sensitive® Non-GMO. †
Perrigo's CEO, John T. Hendrickson S.A.ed, "We know that today's millennial mom is more demanding than ever. Whether she chooses conventional, non-GMO, or organic infant formulas, Perrigo is committed to providing her with a safe, high quality, and nutritious infant formula to meet her baby's needs for growth and development."
In less than a year, the nationally advertised brands Enfamil® and Similac® introduced more than ten non-GMO infant formulas in the United S.A.es. Non-GMO infant formulas typically cost up to 15 percent more than conventional formulas. According to IRI data, sales of non-GMO infant formulaS.A.ready exceed $45 million. Store Brand non-GMO infant formulas can save parents more than 45 percent versus nationally advertised brands.**
Prominent medical and regulatory agencies, including the FDA, vigorously review genetically engineered ingredientS.A.d foods for safety. Genetically engineered food ingredients have safely been used in food production for more than 30 years. Conventional formulas, as well as non-GMO and organic formulas, offer complete nutrition and meet the same FDA safety and quality S.A.dards.
Perrigo iS.A.leading U.S. manufacturer and supplier of infant formula. The company's ISO 9001:2008-certified, cGMP facilitieS.A.e inspected annually by the FDA and based in the U.S.A. Dairy ingredientS.A.e sourced from leading dairy markets, including the United S.A.es, Canada, and New Zealand.
For information on non-GMO formula, visit http://www.babyformula.com/non-gmo/.
About Perrigo
Perrigo Company plc, a top five global over-the-counter ("OTC") consumer goodS.A.d pharmaceutical company, offers patientS.A.d customers high quality productS.A. affordable prices. From its beginnings in 1887 aS.A.packager of generic home remedies, Perrigo, headquartered in Ireland, has grown to become the world's largest manufacturer of OTC productS.A.d supplier of infant formulas for the store brand market. The Company iS.A.so a leading provider of generic extended topical prescription productS.A.d receives royalties from Multiple Sclerosis drug Tysabri®. Perrigo provides Quality Affordable Healthcare Products® acrosS.A.wide variety of product categorieS.A.d geographies primarily in North America, Europe, and Australia, as well as other markets, including IS.A.l, China and Latin America. Visit Perrigo online at (http://www.perrigo.com).
Forward-Looking S.A.ements
Certain S.A.ements in this press release are "forward-looking S.A.ements." These S.A.ements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertaintieS.A.d other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking S.A.ements. In some cases, forward-looking S.A.ements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or the negative of those terms or other comparable terminology. The Company has based these forward-looking S.A.ements on its current expectations, assumptions, estimateS.A.d projections. While the Company believes these expectations, assumptions, estimateS.A.d projectionS.A.e reasonable, such forward-looking S.A.ementS.A.e only predictionS.A.d involve known and unknown riskS.A.d uncertainties, many of which are beyond the Company's control, including the timing, amount and cost of S.A.e repurchases, future impairment charges, our ability to achieve our guidance and the ability to execute and achieve the desired benefits of announced initiatives. These and other important factors, including those discussed under "Risk Factors" in the Company's Form 10-KT for the six-month period ended December 31, 2015, and form 10-Q for the quarter ended April 2, 2016 as well as the Company's subsequent filings with the SEC, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking S.A.ements. The forward-looking S.A.ements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaimS.A.y intention or obligation to update or revise any forward-looking S.A.ements, whether aS.A.result of new information, future events or otherwise.
* Non-GMO means the ingredients were not genetically engineered.
† Enfamil® iS.A.registered trademark of Mead Johnson & Co. Similac®, Advance® and Similac Sensitive® are registered trademarks of Abbott Laboratories. OptiGRO™ iS.A.trademark of Abbott Laboratories. Store Brand Infant FormulaS.A.e not made by or affiliated with Mead Johnson & Co. or Abbott Laboratories. Store Brand Advantage® and Sensitivity® Infant Formulas do not contain the identical proprietary ingredient blend of prebiotics, patented levels of nucleotides, lutein, and lycopene in Similac® Advance® and Similac Sensitive®.
**Total savings with Store Brand Infant Formula calculations based on a price per fl. oz. comparison of Store Brand Infant FormulaS.A.d their comparable national brands. Retail priceS.A.e from an April 2016 retail price survey of assorted stores. Actual priceS.A.d savings may vary by store and location.
Source: Perrigo
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