Welcome to our dedicated page for Perrigo Co Plc news (Ticker: PRGO), a resource for investors and traders seeking the latest updates and insights on Perrigo Co Plc stock.
Overview
Perrigo Company Plc (PRGO) is a foremost global provider of over-the-counter consumer self-care products and affordable health solutions. With roots dating back to 1887, the company has evolved from packaging generic home remedies to a focused, pure-play consumer self-care business, specializing in a wide range of products from infant formulas to branded over-the-counter healthcare solutions.
Core Business and Product Portfolio
Perrigo operates across a spectrum of product categories that include store brand offerings and nationally recognized branded products. Its portfolio covers key segments such as infant formula for store brands, branded OTC products, and innovative health solutions like its pioneering over-the-counter daily birth control pill. With a robust blend of store brand and national brands, Perrigo’s business model is anchored on providing quality, accessible healthcare options that empower individuals to manage minor health conditions effectively.
Market Position and Global Presence
Positioned as one of the largest consumer health companies, Perrigo’s operations extend primarily across North America, Europe, Australia, and strategic markets in Asia and the Middle East. Its extensive distribution network includes major retailers such as Walmart, Amazon, Costco, and CVS, underscoring a resilient and expansive market reach. The company’s commitment to 'quality affordable healthcare products' is reflected in its tailored approach to meet diverse consumer needs, offering products that blend trusted efficacy with competitive pricing.
Business Model and Strategic Initiatives
Perrigo’s revenue is driven by a well-diversified product mix that leverages both private-label and branded offerings. Its transformation into a pure-play consumer self-care company was achieved through strategic divestments in areas such as animal health and generic pharmaceuticals, allowing a sharper focus on consumer self-care. The integrated business model maximizes profitability by reinvesting savings through operational efficiency programs and strengthening high-growth segments. Initiatives aimed at innovation and operational streamlining, such as the globally recognized Project Energize, underscore its commitment to maintaining competitive cost structures and enhancing product margins.
Innovation and Consumer-Focused Strategy
Innovation remains a cornerstone of Perrigo’s strategy. The company continuously invests in new product launches and refinements that align with evolving consumer needs and regulatory changes. Its recent advancements in the reproductive health space—exemplified by partnerships that enhance health education and access—demonstrate a commitment to addressing critical areas of consumer well-being. Such initiatives not only reinforce brand strength but also contribute to market differentiation within the competitive landscape of OTC health and wellness solutions.
Industry Expertise and Differentiation
Perrigo’s long-established presence and expertise in the consumer health arena are backed by decades of operational excellence and strategic leadership. The company’s ability to consistently deliver high-quality, affordable products positions it uniquely among its peers. Detailed management succession plans and operational transitions further exemplify its robust internal expertise and focus on sustaining long-term value creation. By harnessing a blended-branded approach, Perrigo successfully addresses various consumer demographics, ensuring accessibility to essential health products across multiple price points.
Conclusion
Overall, Perrigo Company Plc remains an influential force in the global consumer self-care market. Its commitment to quality, affordability, and continuous innovation serves as a testament to its proven business model. For investors and market analysts alike, Perrigo offers a comprehensive case study in achieving market resilience and operational excellence in a rapidly evolving healthcare landscape.
Perrigo (NYSE: PRGO) has announced it will release its third quarter 2024 financial results on November 6, 2024. The company will host a conference call at 8:30 A.M. (EST) on the same day. The earnings call will be accessible via webcast through Perrigo's investor relations website and by phone. A replay of the call will be available from approximately 12:00 P.M. (EST) on November 6 until midnight November 13, 2024.
Opill®, the first and only daily birth control pill available without a prescription in the U.S., announces a partnership with WNBA Star and Olympic Gold Medalist Napheesa Collier. This collaboration extends Opill's multi-year partnership with the WNBA. Collier, a mother and advocate for women's health, will participate in educational events on college campuses to raise awareness about Opill® and reproductive health options.
Developed by Perrigo, Opill® represents a significant advancement in women's healthcare, offering convenient and accessible contraception without the need for a healthcare provider visit. The partnership aims to empower women to take charge of their reproductive health and increase access to birth control.
Perrigo (NYSE: PRGO) announced a new partnership between Good Start® and Dr. Brown's® to launch an infant formula portfolio. The collaboration aims to provide trusted infant formula solutions like Soothe Pro™ and Gentle Pro™ with new packaging. Good Start® has been a reliable brand for over 50 years, while Dr. Brown's® is known for its top pediatrician-recommended baby bottles. The new formulas are designed to address tolerance concerns and offer complete nutrition. Soothe Pro™ contains probiotic L. reuteri, and Gentle Pro™ includes probiotic B. lactis. Additionally, Soy-ease Pro™ is formulated with plant-based proteins for babies with lactose sensitivity. These products are available at major retailers like Walmart and Amazon. Perrigo's strategy focuses on consumer-led innovation to enhance the feeding experience for families.
Perrigo Company plc (NYSE: PRGO) announced the closing of a registered public offering by its indirect wholly-owned finance subsidiary, Perrigo Finance Unlimited Company. The offering includes $715 million of 6.125% Senior Notes due 2032 and €350 million of 5.375% Senior Notes due 2032. The total net proceeds are estimated at approximately $1,076 million after fees and expenses.
Perrigo plans to use the proceeds to redeem all of its 4.375% Senior Notes Due 2026 and prepay a portion of the Term B Loans under its credit facilities. The Notes will be fully guaranteed by Perrigo and its subsidiaries that provide guarantees under Perrigo's credit facilities. BofA Securities, J.P. Morgan, Wells Fargo Securities, Morgan Stanley, and HSBC are involved as joint book-running managers for the offering.
Perrigo Company plc (NYSE: PRGO) has announced the pricing of a registered public offering by its finance subsidiary, Perrigo Finance Unlimited Company. The offering includes $715 million of 6.125% Senior Notes due 2032 and €350 million of 5.375% Senior Notes due 2032. Both notes are priced at 100.000% of their aggregate principal amount.
The notes will be fully guaranteed by Perrigo and its subsidiaries that provide guarantees under Perrigo's credit facilities. Perrigo intends to use the net proceeds to redeem all of its 4.375% Senior Notes Due 2026 and prepay a portion of the Term B Loans outstanding under its credit facilities. The offering is expected to close around September 17, 2024, subject to closing conditions.
Perrigo Company plc (NYSE: PRGO), a global leader in Consumer Self-Care Products, has appointed Charles Atkinson as Executive Vice President, General Counsel and Secretary. Atkinson, with nearly 25 years of experience in the regulated consumer self-care industry, joins Perrigo from Haleon plc, where he served as Interim General Counsel. His expertise includes advising on transactions, integrations, and managing regulated healthcare product lifecycles.
CEO Patrick Lockwood-Taylor expressed confidence in Atkinson's ability to advance Perrigo's vision. Atkinson will replace Todd Kingma, who came out of retirement to serve as Interim EVP, General Counsel & Secretary. Kingma will assist in the transition before resuming his retirement.
Perrigo Company plc (NYSE: PRGO), a leading provider of Consumer Self-Care Products, has announced that its President and CEO Patrick Lockwood-Taylor and CFO Eduardo Bezerra will present at the Piper Sandler Growth Frontiers Conference on Tuesday, September 10 at 10:00 AM CDT. Interested parties can access the webcast on the Perrigo website.
Perrigo is known for offering over-the-counter (OTC) health and wellness solutions that empower consumers to proactively prevent or treat self-manageable conditions. This presentation at a growth-focused conference suggests that Perrigo may be looking to highlight its expansion strategies and market positioning in the consumer self-care sector.
Perrigo Company plc (NYSE: PRGO) has appointed Dr. David Ball as Executive Vice President and Chief Brand and Digital Officer, a newly created position. Dr. Ball will be responsible for developing an enterprise-wide marketing strategy focusing on consumer needs and brand-building efforts. He brings over 15 years of global consumer goods experience from roles at Bayer Consumer Healthcare and Procter & Gamble.
Dr. Ball's appointment is expected to strengthen Perrigo's global over-the-counter business and support its blended-branded strategy. His unique combination of consumer goods expertise and scientific background (PhD in Biophysics and Genetics) is seen as valuable for innovation and sustainable practices in the company's 135-year history.
Perrigo reported Q2 2024 financial results, with net sales of $1.1 billion, down 10.7% year-over-year. Organic net sales decreased 9.1%, primarily due to lower infant formula sales and reduced demand in Upper Respiratory and Pain & Sleep Aids categories. Adjusted diluted EPS was $0.53, compared to $0.63 in Q2 2023. The company reaffirmed its fiscal 2024 adjusted diluted EPS outlook of $2.50-$2.65, despite updating its organic net sales growth outlook to -3% to -1% from the previous +1% to +3%. Perrigo is progressing with its Project Energize efficiency program, targeting $140-$170 million in annualized pre-tax savings by 2026. The company completed the divestment of its HRA Pharma Rare Diseases business on July 10, 2024.
Perrigo Company plc (NYSE: PRGO), a leading global provider of Consumer Self-Care Products, has announced a quarterly dividend of $0.276 per share. The dividend is payable on September 17, 2024, to shareholders of record on August 30, 2024. Perrigo is a prominent provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions, focusing on empowering consumers to prevent or treat self-manageable conditions.
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