Perrigo Gets Drug Approval

FDA gives green light to Desoximetasone gel.
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Generic drug manufacturer

Perrigo

(PRGO) - Get Report

said on Tuesday it has received Food and Drug Administration clearance to manufacture and market Desoximetasone Gel 0.05%.

The gel, used for the relief of inflammatory skin conditions, is the genric equivalent to Taro Pharmaceutical's Topicort Gel 0.05%. That product has an annual U.S. market of approximately $4 million, according to NDC data.

The company is a leading global healthcare supplier and the world's largest manufacturer of over-the-counter pharmaceutical and nutritional products for the store brand market.

The stock was up 21 cents to $16.06 at midday Wednesday.

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