Prestige Consumer Supply Chain Prowess Helps Offset Inflationary Pressures For Record Results
After a company-record FY2022, Prestige CEO Ron Lombardi says future inflationary pressures and supply chain issues should be “manageable.”
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Inflation's impact on consumer spending will be front and center in sector’s quarterly reports, beginning with J&J on 19 April. Potential impact also from price hikes common from most firms since early 2021 in response to increasing costs. Russia’s invasion of Ukraine also will prompt comment.
Both firms announce agreement for Prestige to pay Akorn $230m cash for TheraTear, Diabetic Tussin and Zostrix OTCs and MagOx and Multi-betic supplements. Akorn says the agreement is "to sell its Consumer Health business,” even though it retains two consumer brands.
Less travel, closed schools and a slower cold/cough season during the pandemic required Prestige Consumer to invest strategically across its OTC healthcare portfolio in fiscal 2021. Dramamine motion sickness and Nix head lice treatments got less attention, while Monistat, Compound W and Clear Eyes received more.