Congestion Continues In Private Label Mucinex Pipeline; Court Rules Against Mutual
This article was originally published in The Tan Sheet
A ruling for RB n Pennsylvania federal court comes as it girds for increased competition from additional guaifenesin expectorant formulations that are the equivalents of Mucinex brand products and that Perrigo is marketing under license from manufacturer Allergan.
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Mutual Pharmaceutical alleges in an antitrust suit that RB attempts to monopolize the extended-release guaifenesin OTC category with its Mucinex product. The suit says Mutual has lost “tens of millions” due to RB's failure to honor a contract to supply an “authorized generic” of the product.
Since closing at a 14-year low of $8.07 the day of the execs’ transactions, Herbalife shares trend steadily up from close of $8.26 on 20 February to $8.83 on 29 February. Some execs sell back some shares on 25 February at $8.67.
Perrigo doesn’t attempt to diminish significance of challenge to regain sales growth in formula market as it resets its plants. Analysts see formula business as only current impediment to stronger results.