|
Generic Allergy Medicine : FDA gives final approval to ship Loratadine, generic equivalent of Claritin | ||
|
With the FDA's final approval, Leiner Health Products today began shipping Loratadine 10 mg tablets, the generic equivalent of Claritin, to nearly 30 top retailers across the country. After receiving FDA approval to begin shipments of 10 mg tablets, Leiner alerted its retail customers that their private label or "store brand" versions of the popular over-the-counter allergy medicine would arrive in days. "Leiner is excited that through an exclusive licensing agreement with Genpharm Inc., an affiliate of Merck KGaA, and Pharmaceutical Resources, Spring Valley, N.Y. we can finally provide the nation's leading food, medicne, mass and club retailers an ultimate store brand product at a great value. Popular store brand versions of Loratadine will sell for an average price of 30-40 cents per tablet. That's a real bargain compared to Claritin's estimated $1.00 price per tablet," said Gale Bensussen, President of Leiner Health Products. "Reducing healthcare costs in America is everyone's mission and through our partnership with retailers nationwide, Leiner is thrilled to be able to offer consumers affordable medication choices," remarked Bensussen. When Schering-Plough lost its Claritin patent appeal on August 1, 2003, the last regulatory barrier blocking Leiner and its partners from entering the market was removed. Loratadine alleviates the symptoms of seasonal allergies and has been available without prescription in 33 countries for nearly twenty years. Of the five Loratadine dosage forms, the 10 mg tablet is the top seller among consumers, enjoying a hefty 70% market share. According to IMS Health as of June 2003, Schering-Plough's combined revenue for Claritin prescription and over-the-counter annual sales is $944 million. Branded and store brand sales of Loratadine together are expected to exceed $700 million. Leiner Health Products manufactures vitamins, minerals, supplements, and diet aids. | ||
| August 21, 2003 | Feedback | © Yenra ® | |