DUBLIN, Oct. 5, 2015 /PRNewswire/ -- Perrigo Company
plc (NYSE: PRGO; TASE) and Flamel Technologies (NASDAQ: FLML)
announced today that they have entered into an exclusive licensing
agreement for LiquiTime® extended release suspension. The
technology will be utilized in the development of a portfolio of
extended release suspension products intended for the U.S. OTC
marketplace.
Michael Anderson, CEO Flamel, "We
are very pleased to partner with Perrigo on our LiquiTime®
technology and look forward to continued successful development
programs and commercial launches with Perrigo."
Perrigo's Chairman and CEO Joseph C.
Papa stated, "This partnership with Flamel on their
innovative LiquiTime® technology demonstrates our continued focus
on the 'Base Plus Plus Plus' strategy. This is yet another
excellent example of Perrigo's commitment to providing Quality
Affordable Healthcare Products® for our customers across the
globe."
About Flamel Technologies
Flamel Technologies SA (NASDAQ: FLML) is a specialty
pharmaceutical company utilizing its core competencies in
formulation development and drug delivery to develop safer and more
efficacious pharmaceutical products, addressing unmet medical needs
and/or reducing overall healthcare costs. Flamel currently has
approvals for and markets two previously Unapproved Marketed Drugs
("UMDs") in the USA, Bloxiverz®
(neostigmine methylsulfate injection) and Vazculep® (phenylephrine
hydrochloride injection). The Company intends to add to this
branded business by creating additional products, focusing on the
development of products utilizing Flamel's proprietary drug
delivery platforms. Flamel currently has several products in
development utilizing Micropump® (oral sustained release
microparticles platform) along with its tangent technologies,
LiquiTime® and Trigger Lock™. The lead project for Micropump®
is sodium oxybate. LiquiTime® allows for the extended-release of
liquid medicines (such as ibuprofen and guaifenesin) and Trigger
Lock™ is an abuse-resistant iteration of Micropump®, designed
specifically for long-acting opioids (such as
hydromorphone). Additionally, the Company has developed a long
acting injectable platform, Medusa™, a hydrogel depot technology
currently being studied with exenatide. Flamel's products are
targeting high-value molecules and will utilize either the
505(b)(2) approval process for NDAs or biosimilar pathways
ultimately approved by FDA and other regulatory authorities. The
Company is headquartered in Lyon,
France and has operations in St.
Louis, Missouri, USA, and Dublin,
Ireland.
Additional information may be found at www.flamel.com
About Perrigo
Perrigo Company plc is a top five global over-the-counter
("OTC") consumer goods and leading specialty pharmaceutical
company, offering patients and customers high- quality products at
affordable prices. From the Company's beginning in 1887 as a
packager of home remedies, it has grown to become the world's
largest manufacturer of OTC healthcare products and supplier of
infant formulas for the store brand market. The Company is also a
leading provider of generic extended topical prescription products,
and it receives royalties from sales of the multiple sclerosis drug
Tysabri®. The Company provides "Quality Affordable Healthcare
Products®" across a wide variety of product categories and
geographies, primarily in North
America, Europe and Australia, as well as in other
markets, including Israel and China. Visit Perrigo
online at (http://www.perrigo.com).
Perrigo Forward Looking Statement
Certain statements in this presentation are forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and are subject to the safe
harbor created thereby. These statements relate to future events or
the Company's future financial performance and involve known and
unknown risks, uncertainties and 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 statements. In some
cases, forward-looking statements can be identified by terminology
such as "may," "will," "could," "would," "should," "expect,"
"plan," "anticipate," "intend," "believe," "estimate," "predict,"
"potential" or other comparable terminology. The Company has based
these forward-looking statements on its current expectations,
assumptions, estimates and projections. While the Company
believes these expectations, assumptions, estimates and projections
are reasonable, such forward-looking statements are only
predictions and involve known and unknown risks and uncertainties,
many of which are beyond the Company's control. These and other
important factors, including those discussed under "Risk Factors"
in the Perrigo Company's Form 10-K for the year
ended June 28, 2014, as well as the Company's subsequent
filings with the Securities and Exchange Commission, may cause
actual results, performance or achievements to differ materially
from those expressed or implied by these forward-looking
statements. The forward-looking statements in this presentation are
made only as of the date hereof, and unless otherwise required by
applicable securities laws, the Company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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SOURCE Perrigo Company plc