Perrigo Steers Through Transportation Obstacles, Soaring Shipping Costs From COVID-19
Divesting ScarAway Wound-Care Brand Required For US FTC Approval Of HRA Acquisition
Perrigo largely has resolved distribution problems, but shipping freight costs still are much higher than pre-pandemic and it must divest a wound-care brand before US regulators sign off on acquisition of HRA Pharma, says CEO Murray Kessler during J.P. Morgan conference.
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If its acquisition of France's HRA Pharma completes, Perrigo will have “enough growth in our back pocket for the next three to five years without making any further acquisitions,” says the firm’s UK & Ireland chief, Neil Lister, in an exclusive interview with HBW Insight.
“Unfulfilled orders' from retailers and other product distributors due to supply chain disruptions slowed revenues, net income and earnings per share during the quarter and prompted lower full-year guidance while also leaving analysts with doubts.
UCLA professor Chris Tang says like most US businesses relying on supplies or production from outside the country, particularly from China, consumer health and beauty and personal care product companies should expect at least another year of supply disruption.