ALLEGAN, Mich., Jan. 7, 2013 -- Perrigo Company (Nasdaq: PRGO; TASE) today announced that its infant formula division has gained FDA clearance to manufacture three new infant formula products. These new formulas are also compliant with the Codex Alimentarius Commission, established by the Food and Agriculture Organization of the United Nations (FAO) and the World Health Organization (WHO) to set international food standards, guidelines and codes of practice to protect the health of consumers and ensuring fair trade practices globally.
Perrigo Nutritionals will be producing these FDA-cleared Codex Stage 1 milk-based infant formulas, Codex Stage 2 milk-based infant formula, and Codex Stage 2 milk-based infant formula with ethyl vanillin flavoring, in its ISO 9001:2008 certified infant formula facility in Vermont, U.S.A. Formerly owned by Wyeth and PBM Nutritionals, the facility has been producing infant formula for more than 25 years. Perrigo Nutritionals is the largest supplier of store brand infant formula in the world and currently supplies formulas to customers in 23 countries.
Perrigo Chairman, President and CEO Joseph C. Papa stated, "Perrigo Nutritionals will be producing these three Codex formulas for existing customers and intends to sell them to future customers in the Middle East, Africa, and Latin America. Many international markets are requesting that infant formulas imported into their countries be cleared for the United States market by FDA and sold in the countries where they are manufactured. Our formulas have been nourishing millions of infants around the world and we are pleased to meet this emerging need with these three new Codex infant formulas."
From its beginnings as a packager of generic home remedies in 1887, Allegan, Michigan-based Perrigo Company has grown to become a leading global provider of quality, affordable healthcare products. Perrigo develops, manufactures and distributes over-the-counter (OTC) and generic prescription (Rx) pharmaceuticals, infant formulas, nutritional products, dietary supplements and active pharmaceutical ingredients (API). The Company is the world's largest manufacturer of OTC pharmaceutical products for the store brand market. The Company's primary markets and locations of logistics operations have evolved over the years to include the United States, Israel, Mexico, the United Kingdom, India, China and Australia. Visit Perrigo on the Internet (http://www.perrigo.com). For more information on Perrigo infant formula, visit http://www.storebrandformula.com.
Note: Certain statements in this press release 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 Company's Form 10-K for the year ended June 30, 2012, 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 press release 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.
It's called formula for a reason™