Perrigo Co Plc - PRGO STOCK NEWS

Perrigo Company plc (NYSE: PRGO) will announce its first quarter 2022 financial results on May 11, 2022, at 8:30 A.M. (EDT). The conference call will be accessible via webcast on the investor relations section of Perrigo's website. A replay will also be available from 12:00 P.M. (EDT) on May 11 until midnight on May 18, 2022. Perrigo is a significant player in the Consumer Self-Care Products sector, being the largest store brand OTC provider in the U.S. and a top OTC company in Europe.

Perrigo Company plc (NYSE: PRGO) has successfully closed its senior secured credit facilities totaling $2.6 billion. These facilities include a $1.0 billion revolving credit line and $1.6 billion in term loans. The increased loan size is due to strong market interest. The funds will finance the acquisition of Héra SAS and pay off existing debts, including 4.00% Senior Notes due 2023. The redemption of these notes is set for May 20, 2022. Major banks involved include JPMorgan Chase and Morgan Stanley.

Perrigo Company plc (NYSE: PRGO) announced a private offering of $500 million in senior notes due 2030 to finance the acquisition of Héra SAS and refinance existing debt. The offering is expected to close before the acquisition, with cash proceeds placed in escrow until the deal's completion or termination. The notes will be guaranteed by Perrigo and its subsidiaries. Key risks include potential delays in the acquisition and market conditions affecting the offering.

Perrigo Company plc (NYSE: PRGO) announced the launch of syndication for new senior secured credit facilities totaling approximately $1.6 billion. This comprises a $1 billion revolving credit facility and $1.1 billion in term loans. The funds will be used to finance its acquisition of Héra SAS and refinance existing debt. The agreement involves major financial institutions, including JPMorgan Chase and Morgan Stanley. However, completion is subject to market conditions, and there is no guarantee of execution on anticipated terms.

Perrigo Company plc (NYSE: PRGO) announced the upcoming retirement of CFO Ray Silcock, effective July 15, 2022. The company will conduct a comprehensive search for his successor. Silcock played a key role in transforming Perrigo into a consumer self-care company since March 2019, leading significant initiatives such as acquiring and divesting nine businesses. CEO Murray Kessler praised Silcock for his contributions, ensuring a smooth transition. Perrigo, a leading provider of consumer self-care products, aims to empower individuals through affordable health solutions.

Perrigo Company plc (NYSE: PRGO) has received final FDA approval for the over-the-counter use of Nasonex® 24HR Allergy (mometasone furoate monohydrate 50mcg). This marks the company’s first Rx-to-OTC switch, set to enhance its product offerings and strengthen its market presence. Perrigo plans to launch Nasonex® later this year, aiming to provide consumers with quality self-care options. This approval underscores Perrigo's commitment to innovation in self-care products, potentially increasing revenue through expanded market access.

Perrigo Company plc (NYSE: PRGO) has finalized the sale of its over-the-counter (OTC) businesses in Mexico and Brazil to Advent International. This move is part of Perrigo's margin improvement program and Project Momentum initiative. The divestiture, which generated $98 million in net sales in 2021, is expected to have a minimal impact on adjusted diluted earnings per share for 2022. Perrigo aims to strengthen its consumer self-care strategy and improve operational efficiencies through this transaction.

Perrigo Company reported a 4.9% increase in fourth quarter net sales to $1.1 billion, with 5.7% growth excluding currency effects, driven by rising demand for cough/cold products. Fiscal year 2021 net sales totaled $4.1 billion, a 1.2% rise, impacted by a 0.3% decline from currency. Fourth quarter GAAP diluted EPS was $0.24, reversing a loss of $0.39 from last year. The company achieved major strategic goals, including divesting its generic RX segment, acquiring HRA Pharma, and settling its Irish tax issues, positioning for future growth despite challenges from COVID-19 and supply chain disruptions.

Perrigo Company plc (NYSE: PRGO) announced that CEO Murray S. Kessler and CFO Ray Silcock will present at the Raymond James 43rd Annual Institutional Investors Conference at 11:00 AM EST on March 8 in Orlando, Florida. Kessler will also present at the UBS Global Consumer and Retail Conference at 1:00 PM EST on March 9 in Boston, Massachusetts. Webcasts of both presentations will be available on Perrigo's website. Perrigo is a leading provider of self-care products, being the largest store brand OTC player in the U.S.