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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 a quarterly dividend of $0.26 per share, payable on December 20, 2022, to shareholders of record on December 2, 2022. This decision reflects the company's ongoing commitment to shareholder value as a leading provider of Consumer Self-Care Products. The press release also discusses forward-looking statements related to their investments in infant formula capacity and highlights potential risks including the impact of COVID-19, economic conditions, and ongoing litigation.
Perrigo Company plc (NYSE: PRGO) has announced a $170 million acquisition of Nestlé's Gateway infant formula plant in Eau Claire, Wisconsin and U.S. and Canadian rights to the Good Start® brand. This investment aims to increase production capacity by 7 million pounds, enhancing consumer access to affordable infant formula. The initiative is part of Perrigo's Supply Chain Reinvention program, expected to boost net sales and earnings per share. The transaction is funded without additional debt and aligns with Perrigo's commitment to improving supply and quality in the infant formula market.
Perrigo Company plc (NYSE: PRGO) announced that the FDA has postponed the joint advisory meeting originally set for November 18, 2022, concerning the review of Opill®, a daily oral contraceptive for OTC use. The FDA needs additional information, extending the Prescription Drug User Fee Act (PDUFA) date by 90 days. Opill® aims to be the first OTC daily birth control pill accessible without a prescription in the U.S. Perrigo continues to collaborate with the FDA for a thorough review.
Perrigo Company plc (NYSE: PRGO) will release its third quarter 2022 financial results on November 8, 2022, at 8:30 A.M. (EST). A conference call will follow, available via webcast on the investor relations section of the Perrigo website or by phone. The replay of the call will be accessible from November 8 at 12:00 P.M. until November 15. Perrigo is a leading provider of Consumer Self-Care Products that empower consumers to manage their health independently.
Perrigo Company plc (NYSE: PRGO) announced that the FDA will hold a joint meeting on November 18, 2022, to review its application for Opill®, a daily oral contraceptive, for over-the-counter (OTC) use. This could mark Opill® as the first daily birth control pill available OTC in the U.S. The application was filed by Perrigo's affiliate, HRA Pharma. However, the outcome of the FDA's review remains uncertain, and there are risks associated with regulatory approval.
Perrigo Company plc (NYSE: PRGO) addressed recent misleading commentary regarding the ranitidine (Zantac) litigation. On August 4, 2022, Perrigo was dismissed from the Bayer v. Boehringer Ingelheim case, which barred re-filing claims against them. The company clarified that litigation claims against it were misrepresented. Perrigo maintains strong defenses against these claims, supported by scientific evidence negating a cancer link. The company has successfully dismissed numerous related cases and remains committed to defending against all unfounded claims.
Perrigo reported second-quarter 2022 net sales of $1.1 billion, a 14.3% increase year-over-year, or 20.2% excluding currency impacts. Organic net sales rose 17.2%, driven by strong demand for consumer self-care products. Gross margins reported at 33.2%, with adjusted gross margins at 36.5%. Despite a reported net loss of ($0.48) per diluted share, adjusted EPS was $0.43. Perrigo raised its fiscal 2022 organic growth guidance to 9.0%-10.0% but updated adjusted EPS outlook to $2.25-$2.35 due to currency translation challenges.
Perrigo Company plc (NYSE: PRGO) declared a quarterly dividend of $0.26 per share, scheduled for payment on September 20, 2022. Shareholders on record as of September 2, 2022 will be eligible. This announcement reflects the company's commitment to providing shareholder returns amidst a challenging market environment.
Perrigo offers a range of Consumer Self-Care Products and aims to empower consumers in managing their wellness proactively.
Perrigo Company plc (NYSE: PRGO) is set to release its second quarter 2022 financial results on August 9, 2022, with a conference call scheduled for 8:30 A.M. EDT. The call will be accessible via webcast on the investor relations section of the Perrigo website. A replay will be available shortly after the call until August 16, 2022.
Perrigo is a leading provider of Consumer Self-Care Products and OTC health solutions, focusing on enhancing individual well-being.
Perrigo Company plc (NYSE: PRGO) announced that HRA Pharma has submitted an application to the FDA for the first-ever over-the-counter birth control pill, Opill®. This progestin-only pill aims to increase contraceptive access in the U.S., potentially reducing the high rate of unintended pregnancies, which number over 6.1 million annually. Major medical organizations support this initiative, underscoring its significance in reproductive health. If approved, Opill® would be the first OTC daily birth control pill available without a prescription in the U.S.
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