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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 plc (NYSE: PRGO) announced plans to release its first quarter 2023 financial results on May 9, 2023, accompanied by a conference call at 8:30 A.M. (EST). The conference call will be accessible via live webcast on Perrigo's investor relations website. A taped replay will be available from 12:00 P.M. (EST) on May 9 until midnight on May 16, 2023.
Perrigo focuses on Consumer Self-Care Products and over-the-counter health solutions, aiming to empower consumers in managing their health independently. The company warns that the earnings report may include forward-looking statements, which are subject to various risks and uncertainties.
Perrigo Company plc (NYSE: PRGO) announced a rescheduled FDA meeting set for May 9-10, 2023, to review their application for the Opill® daily oral contraceptive for over-the-counter (OTC) availability. If approved, Opill® would be the first OTC daily birth control pill in the U.S. This initiative is supported by key medical organizations advocating for increased access to contraception. The establishment of a dedicated Women's Health strategic organization reflects Perrigo's commitment to addressing women's health needs, aiming to empower individuals with affordable contraceptive options.
Perrigo Company plc (NYSE: PRGO) announced that its President and CEO, Murray S. Kessler, along with CFO Eduardo Bezerra, will present at the 12th Annual UBS Global Consumer and Retail Conference on March 15, 2023, at 3:00 PM EST in New York City. The presentation aims to discuss their consumer self-care products and OTC health solutions.
Interested parties can access the live presentation via the Perrigo website at http://perrigo.investorroom.com/events-webcasts. For more information on the company, visit www.perrigo.com.
Perrigo Company plc (NYSE: PRGO) announced FDA approval for its Acetaminophen and Ibuprofen Tablets, 250 mg/125 mg, an over-the-counter equivalent to Advil Dual Action Tablets. This approval, received on the first day after Advil's marketing exclusivity expiration, showcases Perrigo's regulatory competency. The company plans to launch the product in Spring 2023. Retail sales for the national brand reached approximately $69 million in the past year. This dual-action formulation is designed to relieve various pain symptoms, reinforcing Perrigo's position in the consumer health market.
Perrigo Company plc (NYSE: PRGO) announced its Optimize and Accelerate strategic plan during its Virtual Investor Day, aiming for long-term profitable growth through 2025. The leadership team, including CEO Murray S. Kessler, highlighted initiatives to enhance commercial operations and drive organic growth of at least 3%. Key goals include achieving an adjusted gross margin of at least 40% and reducing net leverage to less than 3x adjusted EBITDA. Financial guidance for 2023 includes a reported net sales growth of 7% to 11% and adjusted diluted EPS between $2.50 and $2.70. The strategy emphasizes innovation, portfolio optimization, and strong cash generation to enhance shareholder value.
Perrigo reported strong fiscal year 2022 results with net sales of $4.5 billion, up 7.6% year-over-year. Fourth-quarter net sales increased 4.6% to $1.2 billion, with significant growth from both Consumer Self-Care segments. The company achieved a 33.1% gross margin, a 170 basis points improvement from 2021. Despite a reported EPS loss of ($0.09) in Q4, adjusted EPS rose 25% to $0.75. Perrigo's cash reserves reached $601 million, with a cash conversion ratio exceeding 110%. The acquisition of HRA contributed positively to sales, with a virtual Investor Day planned for February 28, 2023, to discuss future strategies.
Perrigo Company plc (NYSE: PRGO) announced a 5% increase in its quarterly dividend to
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