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said Wednesday that it received approval from the U.S. Food and Drug Administration to market over-the-counter coated nicotine polacrilex gum, an aid used to quit smoking.

The product will be marketed under store brand labels and is comparable to


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Nicorette-coated gum having annual sales of $100 million, the Perrigo said.

"We are pleased with this important addition to our store brand nicotine replacement therapy product offering, even though some sales may come at the expense of our uncoated gum products," the company said.

Shares were trading at $16.29, up 18 cents, or 1.1%, in recent trading.

This story was created through a joint venture between and IRIS.