An FDA approval and a patent-lawsuit settlement will allow Perrigo Company PLC to launch a store-brand over-the-counter (OTC) equivalent of Nexium 24HR (esomeprazole magnesium) capsules in late September 2017.
Esomeprazole magnesium capsules are indicated to treat frequent heartburn (that which occurs two or more days a week). Approximate annual retail sales for the last 12 months were in excess of $300 million, Perrigo said.
Perrigo said it has reached a settlement of patent litigation with AstraZeneca allowing for its OTC equivalent of Nexium 24HR, which will be packaged and marketed as store brand or retailer “own label” brand. This will be the first generic version of the product.
Source: Perrigo; August 21, 2017.