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Perrigo's (PRGO) Generic Version of Topicort Okayed by FDA
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Perrigo Company plc (PRGO - Free Report) recently announced that the FDA has approved its first-to-file AB rated generic version of Taro Pharmaceuticals USA Inc.'s (TARO - Free Report) Topicort spray, 0.25% (desoximetasone topical spray, 0.25%) indicated for the treatment of plaque psoriasis in patients of 18 years or above.
Taro Pharmaceuticals is a research-based pharmaceutical manufacturer offering more than 180 of its drugs in over 25 countries. Topicort had estimated sales of $24 million for the twelve months, ending Nov 2016.
Perrigo’s share price movement shows that the stock has significantly underperformed the Zacks classified Medical-Products industry in the past one year. The stock lost a substantial 51.7% during this period, whereas the industry gained 4.2%. The underperformance can be attributed to regular deceases in the guidance as well as weak performance of the company’s segments.
Perrigo’s Rx Pharmaceuticals develops, manufactures and markets a portfolio of generic and specialty pharmaceutical Rx drugs primarily for the U.S. and the U.K. markets. We would like to remind investors that the company is also a leading provider of generic extended topical prescription products and receives royalties from Biogen Inc’s (BIIB - Free Report) Multiple Sclerosis drug – Tysabri. We note that Perrigo has also been pursuing prudent acquisitions under the RX segment.
Interesting acquisitions by Perrigo under the Rx segment include the purchase of a portfolio of women's healthcare products from Lumara Health that expanded its women's health offerings within the segment; expansion of ophthalmic offerings and position within the Rx segment with the acquisition of a product portfolio from Fera Pharmaceuticals; broadening of Rx product offerings in the U.K. through the Rosemont Pharmaceuticals acquisition; strengthening of its position in foam-based technologies for the U.S. Rx products through the purchase of the controlling interest in Cobrek Pharmaceuticals; buyout of a portfolio of generic dosage forms and strengths of Retin-A (a topical prescription acne treatment) from Matawan Pharmaceuticals to expand its Rx portfolio. Management hints at more of such deals and acquisition activities by the company going forward.
However, Perrigo has witnessed reduction in pricing expectations during 2016 in the Rx segment due to industry and competitive pressures in the sector. The reduced pricing is attributable to a variety of factors, including a shift in focus from customers to capturing supply chain productivity savings, low raw material pricing, competition in specific product categories, loss of exclusivity on certain products, and consolidation of certain customers in the Rx segment.
Enzo Biochem’s loss estimates narrowed from 17 cents to 16 cents for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 22.50%.
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Perrigo's (PRGO) Generic Version of Topicort Okayed by FDA
Perrigo Company plc (PRGO - Free Report) recently announced that the FDA has approved its first-to-file AB rated generic version of Taro Pharmaceuticals USA Inc.'s (TARO - Free Report) Topicort spray, 0.25% (desoximetasone topical spray, 0.25%) indicated for the treatment of plaque psoriasis in patients of 18 years or above.
Taro Pharmaceuticals is a research-based pharmaceutical manufacturer offering more than 180 of its drugs in over 25 countries. Topicort had estimated sales of $24 million for the twelve months, ending Nov 2016.
Perrigo’s share price movement shows that the stock has significantly underperformed the Zacks classified Medical-Products industry in the past one year. The stock lost a substantial 51.7% during this period, whereas the industry gained 4.2%. The underperformance can be attributed to regular deceases in the guidance as well as weak performance of the company’s segments.
Perrigo’s Rx Pharmaceuticals develops, manufactures and markets a portfolio of generic and specialty pharmaceutical Rx drugs primarily for the U.S. and the U.K. markets. We would like to remind investors that the company is also a leading provider of generic extended topical prescription products and receives royalties from Biogen Inc’s (BIIB - Free Report) Multiple Sclerosis drug – Tysabri. We note that Perrigo has also been pursuing prudent acquisitions under the RX segment.
Interesting acquisitions by Perrigo under the Rx segment include the purchase of a portfolio of women's healthcare products from Lumara Health that expanded its women's health offerings within the segment; expansion of ophthalmic offerings and position within the Rx segment with the acquisition of a product portfolio from Fera Pharmaceuticals; broadening of Rx product offerings in the U.K. through the Rosemont Pharmaceuticals acquisition; strengthening of its position in foam-based technologies for the U.S. Rx products through the purchase of the controlling interest in Cobrek Pharmaceuticals; buyout of a portfolio of generic dosage forms and strengths of Retin-A (a topical prescription acne treatment) from Matawan Pharmaceuticals to expand its Rx portfolio. Management hints at more of such deals and acquisition activities by the company going forward.
However, Perrigo has witnessed reduction in pricing expectations during 2016 in the Rx segment due to industry and competitive pressures in the sector. The reduced pricing is attributable to a variety of factors, including a shift in focus from customers to capturing supply chain productivity savings, low raw material pricing, competition in specific product categories, loss of exclusivity on certain products, and consolidation of certain customers in the Rx segment.
Perrigo Company Price
Perrigo Company Price | Perrigo Company Quote
Zacks Rank & Key Picks
Perrigo currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the health care sector is Enzo Biochem, Inc. (ENZ - Free Report) , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Enzo Biochem’s loss estimates narrowed from 17 cents to 16 cents for 2017 over the last 60 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 22.50%.
Zacks' Top Investment Ideas for Long-Term Profit
How would you like to see our best recommendations to help you find today’s most promising long-term stocks? Starting now, you can look inside our portfolios featuring stocks under $10, income stocks, value investments and more. These picks, which have double and triple-digit profit potential, are rarely available to the public. But you can see them now. Click here >>