Perrigo Company (Nasdaq: PRGO; TASE) today announced that it has agreed to settle its Hatch-Waxman litigation relating to Minoxidil foam brought by Stiefel Research Australia Pty. Ltd., a GSK Company. Under the terms of the settlement, Perrigo can launch in the U. S., a generic version of Men's Rogaine® Foam on March 1, 2012, or earlier under certain circumstances.
Rogaine® (Minoxidil) Foam is used to regrow hair on the top of the scalp, and has annual sales of approximately $60 million, as measured by Information Resources, Inc.
Perrigo's Chairman and CEO Joseph C. Papa concluded, "This is another example of Perrigo's commitment to bring products to market. Perrigo continues its focus on bringing quality, affordable healthcare to consumers."