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Perrigo Company plc (NYSE: PRGO) is a leading global provider of over-the-counter (OTC) consumer goods and pharmaceutical products, delivering high-quality healthcare solutions at affordable prices. Established in 1887, Perrigo has grown from a packager of generic home remedies to a top-five global OTC manufacturer and supplier of store-brand infant formulas. Headquartered in Ireland, Perrigo operates across North America, Europe, Australia, Israel, and China.
Perrigo's diverse product portfolio includes private-label consumer health goods sold to major retailers such as Walmart, Amazon, Costco, and CVS. In addition, the company offers branded OTC products, generic extended topical prescription products, and receives royalties from the multiple sclerosis drug Tysabri®.
In recent years, Perrigo has focused on expanding its consumer self-care business. A significant milestone was the FDA approval of Opill®, the first-ever daily birth control pill available OTC in the U.S., which Perrigo began shipping in March 2024. The company's strategic initiatives also include Project Energize, a growth and efficiency program aimed at driving sustainable, value-accretive growth.
Perrigo continues to make strides in the industry, as evidenced by its financial performance and strategic partnerships. The company reported net sales of $1.1 billion for the first quarter of 2024, despite facing challenges such as inventory de-stocking at U.S. retail customers and supply chain constraints. Perrigo's leadership team, including the recent appointment of Roberto Khoury to lead the Consumer Self-Care International segment, is committed to driving innovation and expanding the company's global footprint.
For more information, visit Perrigo's website.
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.
Perrigo Company plc (NYSE: PRGO) has declared a quarterly dividend of $0.24 per share, scheduled for payment on September 21, 2021. Shareholders of record as of September 3, 2021 will receive this dividend. The company is noted for providing quality, affordable self-care products and is a leader in the U.S. over-the-counter market, offering more than 9,000 SKUs. The announcement highlights Perrigo's commitment to shareholder returns while emphasizing its strong position in the OTC health market.
Perrigo Company plc (NYSE; TASE: PRGO) is set to disclose its second quarter 2021 financial results on August 11, 2021, at 8:00 A.M. (EDT). The results will be followed by a conference call available via webcast on the investor relations section of their website. Perrigo is a leading provider of affordable OTC health and wellness products, holding a significant market position as the largest store brand OTC player in the U.S. and a Top 10 OTC company in Europe.
Perrigo Company plc (NYSE: PRGO) has successfully completed the sale of its Generic Rx Pharmaceuticals business to Altaris Capital Partners, LLC for $1.55 billion. This strategic divestiture marks a significant milestone in Perrigo's transformation into a leading global consumer self-care entity. CEO Murray S. Kessler emphasized the company's commitment to enhancing self-care product offerings, which has positioned Perrigo as the largest store brand OTC player in the U.S. and a top OTC company in Europe. The company aims to leverage its resources for future growth.
Perrigo Company plc (NYSE: PRGO) announced that President and CEO, Murray S. Kessler, along with CFO, Ray Silcock, will participate in several investor meetings. These include the Barclays Consumer Spring Symposium on May 25, the Oppenheimer 21st Annual Consumer Growth and Ecommerce Conference on June 16 at 9:05 AM EDT, and the Evercore ISI Consumer & Retail Summit on June 17 at 2:45 PM EDT. Investors can find webcasts of these presentations on Perrigo's website.
Perrigo Company plc has agreed to sell its over-the-counter (OTC) businesses in Mexico and Brazil to Advent International. This strategic move aims to enhance margins and is part of Perrigo's Project Momentum cost savings initiative. The sale, expected to finalize in the second half of 2021, follows a review indicating insufficient scale in Latin America. In FY2020, these businesses generated $85 million in sales but were considered dilutive to Perrigo's growth targets. The transaction is anticipated to be margin accretive, with no impact on adjusted diluted earnings per share for 2021.
Perrigo Company plc (PRGO) reported Q1 2021 net sales of $1.01 billion, down 6.8% year-over-year due to pandemic-related pantry loading. Cough/cold season impacts led to a 10.9% decline in organic growth. Adjusted diluted EPS decreased 25.4% to $0.50, compared to $0.67 in Q1 2020. The company reaffirmed its fiscal 2021 outlook, targeting 3% organic sales growth and $2.50-$2.70 adjusted EPS. New partnerships and increased retail foot traffic are expected to support a strong second half of the year.
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