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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OTC private label/store brand giant announces Irish authorities allow it to pay $308.7m to settle a $1.9bn assessment for back taxes ordered in 2018 linked to Rx ingredient royalty rights it gained in its 2103 merger with Elan.
OTC drug private label/store brand giant reports April-June overall net sales of $981m, up 3.4%. As its Americas business organic sales slipped 1.4% to $622m, international business sales grew 11.7% to $359m.
April-June sales of OTC drugs, supplements and personal care products likely will show at least notable and potentially strong increases from year-ago period when consumers slowed spending after splurging during 2020 Q1 as novel coronavirus pandemic sent shockwaves through the marketplace.