Perrigo Co. said early Monday that the Food and Drug Administration has granted tentative approval for its generic version of the acne gel Acanya. Perrigo shares rose 1.2% in premarket trade after the news. The company said it previously settled litigation over the product with two Valeant Pharmaceuticals International Inc. units. Acanya sales totaled about $57 million for year ending July 2017, Perrigo said. Perrigo shares have risen 19% over the last three months, compared with a 2.8% rise in the S&P 500 .
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