Perrigo Nutritional Dip Riles Analysts Amid Record Consumer Sales
This article was originally published in The Tan Sheet
A 14% decline in nutritional segment sales that slightly hampered Perrigo Co.’s consumer business revenue could affect the firm’s stock valuation if it cannot turn the division around, multiple analysts said. But Perrigo says the dip was expected and temporary,
You may also be interested in...
Pfizer will pay AstraZeneca $250 million upfront for global rights to market a potential OTC 20-mg Nexium. Pharma marketing expert Joe McGovern expects Nexium “to start OTC with a big bang,” but Center for Consumer Self Care Executive Director Bill Soller points to potential safety questions about a switch.
Perrigo’s consumer business’ 2012 full-year operating income, after GAAP adjustments, increased only 0.8% to $304.96 million, despite the division’s 8% revenue growth to $131 million for the fiscal year. The firm plans to launch more than 60 new products in fiscal 2013.
Private label giant Perrigo is readying generic competitors to Reckitt Benckiser’s Mucinex and Takeda Pharmaceuticals’ Prevacid, CEO Joseph Papa says.