Perrigo Offloads LATAM Business In Push To Cut Costs And Improve Margins
Perrigo has struck a deal with Advent International to offload its "sub scale" and margin-dilutive OTC businesses in Mexico and Brazil.
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Perrigo’s brand play extends to marketing Burt’s Bees organic baby formulas and “nature-based” supplements for infants and children. Burt’s Bees announcement offsets Q1 dips in domestic and international consumer health sales.
In deal with Altaris Capital, “I don't feel like we got out at any cost,” says Perrigo CEO Murray Kessler. Agreement calls for “a number of mutual long-term relationship components ... including on Rx-to-OTC switches."
Perrigo's Turnaround Tools: 'National Brand,' Novel NRTs, CBD And Natural Products, Sponsoring OTC Switches
Following investor day conference, market analysts gave Perrigo points for an ambitious three-year plan while also noting the degree of difficulty it faces in succeeding. Other changes planned to stem slump sales and earnings slump include potentially getting into CBD supplement space and getting back into VMS manufacturing after leaving the sector in one of several moves since 2015 intended to help drive net income and improve its margin.