Perrigo Company plc (NYSE: PRGO; TASE) and its partner, Catalent, announced today that they have settled their first to file Hatch Waxman litigation with Teva with respect to a generic version of Proair® HFA. Pursuant to the settlement, Perrigo has a limited quantity license to launch a generic version of Proair® HFA starting on December 19, 2016 (or earlier in certain circumstances) and an unlimited quantity license beginning after June 30, 2018.
Proair® HFA indicated in patients 4 years of age and older for the treatment or prevention of bronchospasm with reversible obstructive airway disease and for the prevention of exercise-induced bronchospasm. Brand sales were approximately $1.4 billion over the last 52-weeks according to Symphony Health Solutions.
Perrigo's Chairman, President and CEO Joseph C. Papa stated, "This product was the result of the continued hard work and dedication of our Perrigo Rx team. This agreement is another example of Perrigo's investment and commitment to making quality healthcare more affordable for consumers."