Perrigo, Cobrek Pharmaceuticals agree to settle all Hatch-Waxman litigation

Perrigo Company (Nasdaq: PRGO; TASE) today announced that, together with its partner Cobrek Pharmaceuticals, Inc., it has agreed to settle all Hatch-Waxman litigation relating to betamethasone valerate foam brought by Stiefel Laboratories, a GSK Company, against Cobrek by taking a royalty bearing license under all relevant patents. Under the terms of the settlement, Perrigo can launch a generic version of Luxiq® Foam on January 15, 2013, or earlier under certain circumstances.

Luxiq® (betamethasone valerate) Foam is a topical corticosteroid indicated for relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses of the scalp, and had sales of approximately $38 million for the 12 months ended February 2010, as measured by Wolters Kluwer Health.

Perrigo's Chairman and CEO Joseph C. Papa concluded, "This is another example of Perrigo's commitment to bring new products to market. Perrigo continues its focus on bringing quality, affordable healthcare to consumers."

SOURCE Perrigo Company