Perrigo, a leading pharmaceutical company, has received approval from the U.S. Food and Drug Administration (FDA) for its Opill, a progestin-only daily oral contraceptive. This groundbreaking milestone makes Opill the first-ever birth control pill to be available over-the-counter in the United States.
Easy Access to Contraception
With this approval, Perrigo aims to revolutionize women’s access to contraception. The company plans to make Opill widely available both in-store and online at retailers nationwide by early 2024.
The Science Behind Opill
Opill is made using a synthetic form of progesterone called progestin, which mimics the hormone’s role in the menstrual cycle and pregnancy.
Shareholders React Positively
News of the FDA approval has had an immediate impact on Perrigo’s stock performance. Shares of the company (ticker: PRGO) surged by 5.6%, with a closing price of $34.94.
A Commitment to Women’s Health
Perrigo President and Chief Executive, Patrick Lockwood-Taylor, expressed his excitement about this momentous milestone. He stated, “Opill has the potential to radically transform women’s access to contraception and is a true testament to Perrigo’s unwavering commitment to delivering impactful solutions that truly improve lives.”
Expert Approval Paves the Way
This approval follows the unanimous vote by two FDA committees in May 2023, which determined that the benefits of making the pill available over-the-counter far outweigh any potential risks.