Perrigo gains after Biden administration proposes free OTC birth control pills, contraceptives

Perrigo

21/10/2024 16:49

** Shares of drugmaker Perrigo  PRGO.N  rise 1.42% to $25.66
    ** The Biden administration is proposing a rule that would
provide women, with private insurance, access to
over-the-counter birth control pills and other contraceptives at
no cost, the White House said on Monday
    ** PRGO's Opill is a daily birth control pill, approved for
sale without a prescription by the U.S. Food and Drug
Administration
    ** The rule, which expands a federal mandate requiring
health insurers to cover preventative care services at no cost
to patients under the Affordable Care Act, is being proposed by
the Departments of Health and Human Services, Labor and the
Treasury and would come into effect in 2025, if finalized
    ** The proposed rule covers other forms of over-the-counter
contraceptives, including emergency contraception such as
morning-after pill known as Plan B, spermicides, birth control
sponges and condoms
    ** Stock down ~20% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))