DUBLIN, August 17, 2022 /PRNewswire/ — In response to speculative comments regarding ranitidine (Zantac®) following a news report containing certain misleading and inaccurate information, Perrigo Company plc (NYSE: PRGO), a leading supplier of Consumer Self-Care Products, today released the following statement:
On August 4, 2022Perrigo was removed from his post Madison County, ILcase of Bayer v. Boehringer Ingelheim, et al, with prejudice, which means that plaintiff’s claims against Perrigo in this litigation cannot be brought again. The August 16, 2022 the Notice of Dismissal of Claims and the impending lawsuit against the brand companies did not involve Perrigo. Contrary to the news report, the documents filed by the plaintiff contradict the false report that the plaintiff only purchased private label products. In fact, the plaintiff’s complaint claimed purchases of the Zantac brand® and private label ranitidine.
It is important to note that there have been no material developments regarding the ranitidine litigation beyond what was previously disclosed. The industry maintains strong defenses against such claims based on the totality of scientific evidence, which indicates that there is no causal relationship between ranitidine and cancer. Additionally, as a private label manufacturer, Perrigo has additional defenses under federal preemption. These defenses have been used successfully to secure dismissals in the majority of ranitidine cases involving Perrigo. To date, Perrigo has successfully won multiple motions to dismiss in federal multidistrict litigation and state lawsuits in California and Maryland.
Perrigo will continue to vigorously defend itself against all baseless claims.
Perrigo Company plc (NYSE; PRGO) is a leading provider of consumer self-care products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by enabling consumers to proactively prevent or treat conditions that may be self-inflicted. -managed. Visit Perrigo online at www.perrigo.com.
Certain statements contained in this press release are “forward-looking statements”. These statements relate to future events or the future financial performance of the Company and involve known and unknown risks, uncertainties and other factors that could cause results, levels of activity, performance or actual achievements of the Company or its industry are materially different from those expressed or implied by forward-looking statements. In some instances, forward-looking statements may be identified by words such as “may”, “will”, “could”, “would”, “should”, “expect”, “anticipate”, “plan”, “anticipates”, “intends”, “believes”, “estimates”, “predicts”, “potential” or the negative form of these terms or any other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. Although the Company believes that such expectations, assumptions, estimates and projections are reasonable, these forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company’s control, including: the effect of coronavirus (COVID -19) pandemic and its variants and associated supply chain impacts on the Company’s business; general economic, credit and market conditions; the impact of war on Ukraine and any escalation thereof, including the effects of economic and political sanctions imposed by United States, UK, the European Union and other related countries; the outbreak or escalation of conflict in other regions where we operate; future impairment charges; customer acceptance of new products; competition from other industry players, some of whom have greater marketing resources or greater market share in certain product categories than the Company; pricing pressures from customers and consumers; the resolution of uncertain tax positions, including the Company’s appeal regarding draft and final Notices of Proposal Assessment (“NOPA”) issued by the U.S. Internal Revenue Service and the impact that an adverse outcome in such a proceeding would have an impact on results of operations, cash flow, and liquidity; pending and potential third party claims and litigation, including litigation related to the Company’s restatement of previously filed financial information and litigation related to uncertain tax positions, including NOPAs; the potential impacts of ongoing or future governmental investigations and regulatory initiatives; uncertainty regarding the timing and ability of the Company to obtain and maintain certain regulatory approvals, including the sale of over-the-counter daily oral contraceptives; the potential costs and reputational impact of product recalls or discontinued sales; the impact of tax reform legislation and/or changes in health policy; the timing, amount and cost of any share buybacks; fluctuations in currency exchange rates and interest rates; the Company’s ability to realize the expected benefits from the sale of its Rx business and the risk that potential costs or liabilities incurred or retained in connection with the transaction may exceed the Company’s estimates or adversely affect the business or operations of the society ; the Company’s ability to realize the expected benefits of the acquisition of HRA Pharma and the risks that the Company’s synergy estimates may be inaccurate or that the Company may face higher than expected integration or other costs in the framework of the acquisition; risks associated with the integration of HRA Pharma, including the risk that growth rates will be adversely affected by any delays in the integration of sales and distribution networks; the completion and success of other announced and unannounced acquisitions or divestitures, and the Company’s ability to realize the desired benefits thereof; and the Company’s ability to execute and achieve the desired benefits of announced cost reduction efforts and strategic and other initiatives, including the Company’s ability to achieve the expected benefits of its supply chain reinvention program. supply. An adverse outcome regarding the Company’s appeal of any material unpaid tax assessments or pending litigation, including securities or drug pricing issues, may ultimately require the use of assets of the Company to pay such dues, damages arising from third party claims and interest and/or penalties, and such use of Company assets would limit the assets available for other Company purposes . There can be no assurance that the FDA will approve the sale of daily oral contraceptives without a prescription in United States. These and other important factors, including those discussed under “Risk Factors” in the company’s Form 10-K for the year ended December 31, 2021and Form 10-Q for the quarter ended July 2, 2022, as well as the Company’s subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking statements. The forward-looking statements contained in this press release are made only as of the date hereof and, except as 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.
SOURCEPerrigo Company plc