PERRIGO COMPANY PLC - PRGO STOCK NEWS

Perrigo Company plc (NYSE: PRGO) reported its third quarter fiscal 2021 results, revealing net sales of $1.04 billion, a 4.0% increase year-over-year. Organic growth was 2.6% despite challenges including a 5.7 percentage point hit from supply chain disruptions. Adjusted diluted EPS decreased 25.0% to $0.45. The company sees potential in the rebound of its cough/cold business and anticipates adjusted diluted EPS of $2.00 to $2.10 for 2021. Key developments include the completion of the RX business divestiture and acquisition of HRA Pharma.

Perrigo Company plc (NYSE: PRGO) announced that Rolf A. Classon will not seek re-election as Chairman at the annual meeting in May 2022. Orlando D. Ashford, who joined the board in December 2020, is expected to succeed him. Classon, who has served as Chairman since 2018, expressed optimism for Perrigo's future during his tenure, which has seen a transformation into a consumer self-care company. CEO Murray Kessler praised Classon's leadership, while emphasizing Ashford's relevant experience as a benefit for the company moving forward.

Perrigo Company plc (NYSE: PRGO) has declared a quarterly dividend of $0.24 per share, scheduled for payment on December 21, 2021, to shareholders recorded as of December 3, 2021. The company continues to reinforce its position as a leading provider of quality self-care products, appealing to a growing market for affordable health solutions. The dividend announcement highlights Perrigo's ongoing commitment to returning value to its shareholders while maintaining a focus on consumer self-care.

Perrigo Company plc (NYSE; TASE: PRGO) will announce its third quarter 2021 financial results on November 10, 2021, at 8:30 A.M. (EST). A conference call will follow, available via webcast on the company’s investor relations site. Perrigo is a leading provider of self-care products and OTC health solutions, holding a significant market position with over 9,000 SKUs in the U.S. and ranking among the top 10 OTC companies in Europe.

Perrigo Company plc (NYSE: PRGO) has appointed Jim Dillard as the new EVP and President of Consumer Self-Care Americas (CSCA), effective immediately. Dillard, previously EVP and Chief Scientific Officer, will continue reporting to CEO Murray Kessler. The company has completed its transformation to focus on consumer self-care and resolved an Irish tax uncertainty. Kessler emphasized the importance of profitable growth, while Dillard expressed enthusiasm for leveraging innovation and improving margins. Rich Sorota has mutually separated from the company.

Perrigo Company has settled a significant tax dispute with the Irish Revenue Commissioners regarding an amended income tax assessment. Initially claiming €1.6 billion, the tax liability was reduced to €297 million, which the company will pay, resulting in a net payment of €266.1 million after tax credits. This settlement eliminates a major source of uncertainty for Perrigo, allowing it to refocus on its consumer self-care strategy. Additionally, Perrigo received €355 million related to a previous arbitration award, bolstering its financial position.

Perrigo Company has announced a binding offer to acquire Héra SAS for €1.8 billion (approximately $2.1 billion) in cash. This acquisition aims to enhance Perrigo's position as a global leader in consumer self-care, expanding its portfolio with HRA's leading OTC brands including Compeed®, ellaOne®, and Mederma®. The deal is expected to generate substantial value, achieving mid-teen net sales growth and significant operational synergies, projected to save over €30 million annually by 2023. The transaction is set to close by the end of H1 2022, subject to regulatory approvals.

Perrigo Company plc (NYSE: PRGO) announced that its President and CEO, Murray S. Kessler, along with CFO Ray Silcock, will participate in investor meetings at the Barclays Global Consumer Staples Conference on September 9, 2021. No formal presentation will be made. As a leader in providing affordable self-care products, Perrigo is the top store brand OTC player in the U.S. and ranks among the top 10 OTC companies in Europe. The company's focus on consumer health solutions positions it well within the competitive landscape.

Perrigo Company plc (NYSE: PRGO) reported a 3.4% increase in net sales for Q2 2021, totaling $981 million, driven by growth across most businesses, despite a weak cough/cold season. However, adjusted diluted EPS fell 15.3% to $0.50 due to higher input costs and reinstated marketing expenditures. The company reaffirmed its 2021 sales guidance, anticipating organic growth of 3%, although EPS expectations were adjusted to the lower end of $2.50 to $2.70 as inflationary pressures persist. Despite challenges, management expresses optimism for future sales recovery and growth opportunities.